Quick charity verification for Florida Fishing Academy Inc (EIN: 161775538)
Verdict: Florida Fishing Academy Inc appears trustworthy
92/100Mission Score
$846KRevenue
$976KAssets
1Red Flags
5Strengths
Red Flags
Lack of reported officer compensation, which is unusual for an organization of this size and warrants further investigation into leadership compensation structure.
Strengths
Consistent revenue growth, increasing from $350,185 in 2020 to $481,613 in 2023.
Healthy asset accumulation, with assets growing from $427,097 in 2020 to $672,915 in 2023.
Low liabilities relative to assets, indicating strong financial stability (e.g., $66,352 liabilities vs. $672,915 assets in 2023).
Consistent operational surpluses in recent years (e.g., $44,539 in 2023 and $71,411 in 2022), allowing for reinvestment and growth.
Long history of IRS 990 filings (13 filings), indicating transparency and compliance.
Spending Breakdown
How Florida Fishing Academy Inc allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
5%
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 Florida Fishing Academy Inc
Is Florida Fishing Academy Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Florida Fishing Academy Inc (EIN: 161775538) appears trustworthy. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
Is Florida Fishing Academy Inc a good charity to donate to?
Florida Fishing Academy Inc has a Mission Score of 92/100. Revenue: $846K. Assets: $976K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Florida Fishing Academy Inc?
The Employer Identification Number (EIN) for Florida Fishing Academy Inc is 161775538. 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 Florida Fishing Academy Inc spend its money?
Florida Fishing Academy Inc allocates 90% to programs, 5% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Florida Fishing Academy Inc's tax-exempt status?
You can verify Florida Fishing Academy Inc's tax-exempt status using EIN 161775538 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
Florida Fishing Academy Inc demonstrates consistent financial growth and a strong commitment to its programmatic mission. Over the past five years, the organization has seen its revenue increase from $350,185 in 2020 to $481,613 in 2023, indicating a healthy upward trend in funding. Expenses have also grown, but generally at a sustainable pace relative to revenue, with the organization consistently operating with a surplus in recent years (e.g., $44,539 surplus in 2023). This financial stability is further supported by a growing asset base, reaching $672,915 in 2023, while liabilities remain relatively low, suggesting good financial management.
The organization's spending efficiency appears robust, with a significant portion of its expenditures directed towards programs. While specific breakdowns for administrative and fundraising costs are not provided in the summary data, the consistent reporting of 0% officer compensation across all filings is a strong indicator of a lean operational structure and a focus on mission-driven spending. This lack of executive compensation suggests that leadership may be volunteer-based or compensated through other means not classified as officer compensation, which can contribute to higher program efficiency. The consistent surpluses also allow for asset accumulation, providing a buffer for future operations and program expansion.
Transparency is generally good, given the consistent filing of IRS Form 990s over 13 periods. The absence of reported officer compensation is a notable point for transparency, as it indicates either volunteer leadership or compensation structures that do not fall under the typical 'officer compensation' category, which could warrant further inquiry for a complete picture. However, the overall financial health, characterized by revenue growth, asset accumulation, and controlled liabilities, paints a positive picture of a well-managed and program-focused nonprofit.