Quick charity verification for Foundation Of Carlo Inc (EIN: 208875029)
Verdict: Foundation Of Carlo Inc appears trustworthy
92/100Mission Score
$113KRevenue
$2.0MAssets
1Red Flags
5Strengths
Red Flags
Consistent 0% officer compensation reported, which is unusual for an organization with over $2 million in assets and could indicate a lack of transparency regarding executive remuneration if it exists in another form.
Strengths
Exceptional asset growth, increasing from $391,093 in 2011 to over $2 million in 2023.
Extremely low liabilities, consistently reporting only $1, indicating strong financial health and minimal debt.
High spending efficiency, with expenses consistently much lower than revenue (e.g., $100,000 expenses on $311,892 revenue in 2023).
Consistent IRS 990 filing history over a decade, demonstrating commitment to transparency.
Strong financial reserves, as evidenced by the growing asset base.
Spending Breakdown
How Foundation Of Carlo Inc allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
7%
Admin Costs
Reasonable — admin costs in check
3%
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 Foundation Of Carlo Inc
Is Foundation Of Carlo Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Foundation Of Carlo Inc (EIN: 208875029) appears trustworthy. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
Is Foundation Of Carlo Inc a good charity to donate to?
Foundation Of Carlo Inc has a Mission Score of 92/100. Revenue: $113K. Assets: $2.0M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Foundation Of Carlo Inc?
The Employer Identification Number (EIN) for Foundation Of Carlo Inc is 208875029. 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 Foundation Of Carlo Inc spend its money?
Foundation Of Carlo Inc allocates 90% to programs, 7% to administration, and 3% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Foundation Of Carlo Inc's tax-exempt status?
You can verify Foundation Of Carlo Inc's tax-exempt status using EIN 208875029 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 Foundation Of Carlo Inc demonstrates strong financial health, consistently growing its assets from $391,093 in 2011 to over $2 million in 2023. The organization has maintained extremely low liabilities, consistently reporting only $1, which indicates excellent financial management and a lack of significant debt. Revenue has fluctuated but generally trended upwards, with a notable peak of $524,937 in 2021. The organization's spending efficiency appears very high, as expenses have remained relatively low compared to revenue and asset growth over the years. For instance, in 2023, with revenue of $311,892, expenses were only $100,000.
Regarding transparency, the consistent filing of IRS 990 forms over a decade provides a good historical record of their financial activities. The absence of reported officer compensation across all filings suggests either a volunteer-led organization or that compensation is covered by other means not disclosed in this specific field, which warrants further investigation for complete transparency. However, the overall financial picture suggests a well-managed and fiscally prudent organization.
The organization's NTEE code T20 (Philanthropy, Voluntarism, and Grantmaking Foundations) suggests its primary activities involve grantmaking or supporting other nonprofits. The low expense ratios relative to revenue and asset growth indicate that a significant portion of their resources is either being retained for future grantmaking or directly distributed as program services, aligning with the nature of a foundation.