Is Elwood Community Development Corporation Legit?
Quick charity verification for Elwood Community Development Corporation (EIN: 201700622)
Verdict: Elwood Community Development Corporation appears trustworthy
70/100Mission Score
$211KRevenue
$1.4MAssets
2Red Flags
3Strengths
Red Flags
Significant year-to-year revenue and expense volatility, as seen with a $339,574 deficit in 2022.
Consistent decline in total assets over the filing period, from $1,916,295 in 2016 to $1,266,202 in 2023.
Strengths
Zero officer compensation reported across all filings, indicating a volunteer-driven model and potentially lower overhead.
Dramatic reduction in liabilities from $614,872 in 2016 to $114 in 2023, demonstrating excellent debt management.
Positive net income in 2023 ($212,775 revenue vs. $78,586 expenses).
Spending Breakdown
How Elwood Community Development Corporation 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 Elwood Community Development Corporation
Is Elwood Community Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Elwood Community Development Corporation (EIN: 201700622) appears trustworthy. Mission Score: 70/100. 2 red flags identified, 3 strengths noted.
Is Elwood Community Development Corporation a good charity to donate to?
Elwood Community Development Corporation has a Mission Score of 70/100. Revenue: $211K. Assets: $1.4M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Elwood Community Development Corporation?
The Employer Identification Number (EIN) for Elwood Community Development Corporation is 201700622. 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 Elwood Community Development Corporation spend its money?
Elwood Community Development Corporation allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Elwood Community Development Corporation's tax-exempt status?
You can verify Elwood Community Development Corporation's tax-exempt status using EIN 201700622 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
Elwood Community Development Corporation demonstrates a mixed financial picture. While the organization has consistently reported zero officer compensation across all available filings, indicating good transparency regarding executive pay, its financial stability appears somewhat volatile. Revenue has fluctuated significantly, from a low of $20,738 in 2016 to a high of $217,870 in 2021, and $212,775 in 2023. Expenses have also varied, with a notable spike to $387,253 in 2022, far exceeding revenue for that period. This suggests potential reliance on reserves or prior year surpluses to cover operational costs in some years. The organization's assets have shown a general decline from $1,916,295 in 2016 to $1,266,202 in 2023, while liabilities have decreased substantially from $614,872 in 2016 to $114 in 2023, which is a positive trend in debt management. However, the overall financial health could benefit from more consistent revenue generation to match or exceed expenses annually, ensuring long-term sustainability.