Is Folly Beach Tourism And Visitors…

Quick charity verification for Folly Beach Tourism And Visitors Promotions Committee Inc (EIN: 203272347)

Strengths

Consistent and significant revenue growth, from $140,792 in 2012 to $592,317 currently.
Strong asset growth, from $81,425 in 2012 to $507,899 currently, indicating financial stability.
Consistently low liabilities across all reported periods, demonstrating sound financial management.
No reported officer compensation, suggesting a potentially very lean administrative structure or volunteer leadership.
Positive net income in most years, indicating the organization is operating within its means and building reserves.

Spending Breakdown

How Folly Beach Tourism And Visitors Promotions Committee Inc allocates its funds across programs, administration, and fundraising.

80%

Program Spending

Healthy — majority goes to mission

15%

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 Folly Beach Tourism And Visitors Promotions Committee Inc

Is Folly Beach Tourism And Visitors Promotions Committee Inc a legitimate charity?

Based on AI analysis of IRS 990 filings, Folly Beach Tourism And Visitors Promotions Committee Inc (EIN: 203272347) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 5 strengths noted.

Is Folly Beach Tourism And Visitors Promotions Committee Inc a good charity to donate to?

Folly Beach Tourism And Visitors Promotions Committee Inc has a Mission Score of 85/100. Revenue: $592K. Assets: $508K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Folly Beach Tourism And Visitors Promotions Committee Inc?

The Employer Identification Number (EIN) for Folly Beach Tourism And Visitors Promotions Committee Inc is 203272347. 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 Folly Beach Tourism And Visitors Promotions Committee Inc spend its money?

Folly Beach Tourism And Visitors Promotions Committee Inc allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Folly Beach Tourism And Visitors Promotions Committee Inc's tax-exempt status?

You can verify Folly Beach Tourism And Visitors Promotions Committee Inc's tax-exempt status using EIN 203272347 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

Folly Beach Tourism And Visitors Promotions Committee Inc demonstrates consistent financial growth and appears to be in a healthy financial position. Over the past six years, its revenue has steadily increased from $140,792 in 2012 to $261,618 in 2018, and most recently reported $592,317. This growth is mirrored in its asset base, which has expanded from $81,425 to $507,899. The organization consistently reports low liabilities, indicating good financial management and a strong balance sheet.

The organization's spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses from the provided data. However, the consistent positive net income (revenue exceeding expenses) across most years suggests prudent financial operations. For instance, in 2015, revenue was $179,638 against expenses of $91,160, indicating a significant surplus. The absence of reported officer compensation across all provided filings suggests that executive leadership may be volunteer-based or compensated through other means not captured in this specific data point, which can be a positive indicator for donor confidence regarding overhead.

Regarding transparency, the organization has a consistent filing history with the IRS, providing six years of data. The lack of reported officer compensation is a notable point, suggesting either volunteer leadership or compensation structures that do not fall under the 'officer compensation' category on the 990, which warrants further investigation for complete transparency. Overall, the financial trends indicate a well-managed and growing entity.

Is Folly Beach Tourism And Visitors Promotions Committee Inc Legit?

Verdict: Folly Beach Tourism And Visitors Promotions Committee Inc appears trustworthy

Red Flags