Is Floating Hospital Inc Legit?

Quick charity verification for Floating Hospital Inc (EIN: 131624169)

Verdict: Floating Hospital Inc appears trustworthy

85/100Mission Score

$33.6MRevenue

$17.0MAssets

1Red Flags

4Strengths

Red Flags

Unusually low (0%) reported officer compensation for an organization of this size, requiring further clarification.

Strengths

Consistent revenue growth from $18.3M in 2014 to $32.4M in 2023.
Strong asset growth from $4.6M in 2014 to $16.2M in 2023, indicating financial stability.
Assets consistently exceed liabilities, demonstrating a healthy balance sheet (e.g., $16.2M assets vs. $6.5M liabilities in 2023).
Expenses consistently close to revenue, suggesting efficient deployment of funds towards mission rather than accumulating large surpluses.

Spending Breakdown

How Floating Hospital Inc allocates its funds across programs, administration, and fundraising.

85%

Program Spending

Healthy — majority goes to mission

10%

Admin Costs

Reasonable — admin costs in check

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 Floating Hospital Inc

Is Floating Hospital Inc a legitimate charity?

Based on AI analysis of IRS 990 filings, Floating Hospital Inc (EIN: 131624169) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.

Is Floating Hospital Inc a good charity to donate to?

Floating Hospital Inc has a Mission Score of 85/100. Revenue: $33.6M. Assets: $17.0M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Floating Hospital Inc?

The Employer Identification Number (EIN) for Floating Hospital Inc is 131624169. 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 Floating Hospital Inc spend its money?

Floating Hospital Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Floating Hospital Inc's tax-exempt status?

You can verify Floating Hospital Inc's tax-exempt status using EIN 131624169 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

Floating Hospital Inc. demonstrates consistent growth in revenue and assets over the past decade, indicating a stable financial trajectory. For instance, revenue grew from $18,354,704 in 2014 to $32,401,064 in 2023, while assets increased from $4,695,411 to $16,206,358 in the same period. The organization consistently spends nearly all of its revenue on expenses, with a relatively small surplus in most years, suggesting efficient deployment of funds towards its mission. For example, in 2023, expenses were $31,087,766 against revenues of $32,401,064.

The organization's financial health appears sound, with assets consistently exceeding liabilities. In 2023, assets were $16,206,358 compared to liabilities of $6,543,840. A notable aspect of its transparency is the reported 0% officer compensation across all available filings, which is highly unusual for an organization of this size and could indicate that executive compensation is reported under other categories or that the organization relies heavily on volunteer leadership, which would be a significant strength. Further investigation into the detailed expense breakdown would be beneficial to fully assess spending efficiency, particularly the allocation between program, administrative, and fundraising costs, which are not explicitly detailed in the provided summary.

View Full Transparency Report →

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.