Is Economic Development Corporation Of Sarasota County Legit?
Quick charity verification for Economic Development Corporation Of Sarasota County (EIN: 201133191)
Verdict: Economic Development Corporation Of Sarasota County appears trustworthy
85/100Mission Score
$1.6MRevenue
$1.0MAssets
1Red Flags
4Strengths
Red Flags
Consistent 0% officer compensation reported, which is unusual for an organization of this size and could indicate a lack of transparency if compensation is simply reclassified.
Strengths
Consistent revenue generation, averaging over $1.4 million annually.
Steady growth in assets, from $601,719 in 2014 to $960,710 in 2023, indicating financial stability.
Expenses generally align closely with revenues, suggesting sound operational budgeting and management.
No reported officer compensation, which, if accurate, indicates high efficiency in executive leadership costs.
Spending Breakdown
How Economic Development Corporation Of Sarasota County allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
15%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Economic Development Corporation Of Sarasota County
Is Economic Development Corporation Of Sarasota County a legitimate charity?
Based on AI analysis of IRS 990 filings, Economic Development Corporation Of Sarasota County (EIN: 201133191) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
Is Economic Development Corporation Of Sarasota County a good charity to donate to?
Economic Development Corporation Of Sarasota County has a Mission Score of 85/100. Revenue: $1.6M. Assets: $1.0M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Economic Development Corporation Of Sarasota County?
The Employer Identification Number (EIN) for Economic Development Corporation Of Sarasota County is 201133191. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Economic Development Corporation Of Sarasota County spend its money?
Economic Development Corporation Of Sarasota County allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Economic Development Corporation Of Sarasota County's tax-exempt status?
You can verify Economic Development Corporation Of Sarasota County's tax-exempt status using EIN 201133191 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
The Economic Development Corporation Of Sarasota County demonstrates consistent financial activity, with revenues and expenses generally balancing out over the past decade. For instance, in 2023, revenues were $1,429,822 against expenses of $1,419,814, indicating a tight operational margin. The organization's assets have shown a steady increase, growing from $601,719 in 2014 to $960,710 in 2023, suggesting prudent financial management and accumulation of resources. Liabilities have also increased over time, reaching $336,983 in 2023, which is a point to monitor relative to asset growth.
Regarding spending efficiency, without a detailed breakdown of program, administrative, and fundraising expenses from the provided data, it's challenging to give a precise assessment. However, the consistent operational surplus (or near-break-even) suggests that the organization is managing its expenses within its revenue streams. The absence of reported officer compensation across all filings is a significant indicator of either a volunteer-led executive team or compensation being reported under other expense categories, which would require further investigation for full transparency. If indeed no officers receive compensation, this would represent a highly efficient use of funds.
Overall, the organization appears financially stable with a growing asset base. The lack of reported officer compensation is a notable aspect that could be interpreted as either a strength in efficiency or a potential area for more detailed disclosure if compensation is simply categorized differently. The consistent revenue and expense levels suggest a predictable operational model.