Quick charity verification for Fogarty Institute For Innovation (EIN: 113800306)
Verdict: Fogarty Institute For Innovation appears trustworthy
75/100Mission Score
$2.9MRevenue
$14.5MAssets
3Red Flags
2Strengths
Red Flags
Consistent 0% reported officer compensation, which is highly unusual for an organization of this scale and could indicate a lack of transparency in leadership compensation.
Significant year-over-year revenue volatility, such as the drop from $12.6M in 2022 to $2.9M in 2023, which can make financial planning challenging.
Expenses ($7,630,781 in 2023) significantly exceeding revenue ($2,939,436 in 2023), indicating reliance on prior year surpluses or asset drawdowns.
Strengths
Strong asset growth, from $5.9M in 2019 to $21.3M in 2023, indicating effective asset management or significant capital infusions.
Apparent commitment to program spending, given the lack of reported officer compensation, suggesting resources are directed towards the mission.
Spending Breakdown
How Fogarty Institute For Innovation 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 Fogarty Institute For Innovation
Is Fogarty Institute For Innovation a legitimate charity?
Based on AI analysis of IRS 990 filings, Fogarty Institute For Innovation (EIN: 113800306) appears trustworthy. Mission Score: 75/100. 3 red flags identified, 2 strengths noted.
Is Fogarty Institute For Innovation a good charity to donate to?
Fogarty Institute For Innovation has a Mission Score of 75/100. Revenue: $2.9M. Assets: $14.5M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Fogarty Institute For Innovation?
The Employer Identification Number (EIN) for Fogarty Institute For Innovation is 113800306. 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 Fogarty Institute For Innovation spend its money?
Fogarty Institute For Innovation allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Fogarty Institute For Innovation's tax-exempt status?
You can verify Fogarty Institute For Innovation's tax-exempt status using EIN 113800306 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 Fogarty Institute For Innovation demonstrates a fluctuating financial landscape, with significant swings in revenue and expenses over the past decade. For instance, revenue in 2022 was $12,603,959, while in 2023 it dropped to $2,939,436. Similarly, expenses have varied, reaching a high of $7,630,781 in 2023. Despite these fluctuations, the organization consistently reports 0% officer compensation, indicating a commitment to directing funds towards its mission rather than executive salaries. The organization's assets have grown substantially, from $5,929,392 in 2019 to $21,350,391 in 2023, suggesting effective asset management or significant capital injections. However, the consistent reporting of 0% officer compensation across all filings is unusual for an organization of this size and could warrant further investigation into how leadership is compensated, if at all, or if these roles are entirely volunteer-based.