Is Goico Family Foundation Legit?

Spending Breakdown

How Goico Family Foundation 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 Goico Family Foundation

Is Goico Family Foundation a legitimate charity?

Based on AI analysis of IRS 990 filings, Goico Family Foundation (EIN: 203287436) shows mixed signals. Mission Score: 60/100. 3 red flags identified, 3 strengths noted.

Is Goico Family Foundation a good charity to donate to?

Goico Family Foundation has a Mission Score of 60/100. Revenue: $14K. Assets: $91K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Goico Family Foundation?

The Employer Identification Number (EIN) for Goico Family Foundation is 203287436. 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 Goico Family Foundation spend its money?

Goico Family Foundation allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Goico Family Foundation's tax-exempt status?

You can verify Goico Family Foundation's tax-exempt status using EIN 203287436 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 Goico Family Foundation exhibits a consistent pattern of spending exceeding its revenue, leading to a gradual decline in its asset base over the past decade. For instance, in the 202307 period, expenses were $5,482 against revenues of $2,938, contributing to a decrease in assets from $96,325 to $93,781. This trend is evident across multiple years, with assets decreasing from $134,895 in 201207 to $91,041 currently. While the organization maintains minimal liabilities, indicating good financial hygiene in that regard, the ongoing deficit spending raises concerns about long-term sustainability if not addressed. The consistent reporting of 0% officer compensation is a positive indicator of resource allocation towards the mission rather than executive salaries.

Given the available data, a detailed breakdown of program, administrative, and fundraising expenses is not explicitly provided in the summary. However, the consistent low revenue and higher expenses suggest that the organization is likely drawing down its endowment or principal to cover operational costs. The lack of officer compensation points to a volunteer-driven or very lean operational model, which can be efficient. Transparency appears adequate through its regular 990 filings, but without a more granular expense breakdown, it's challenging to fully assess spending efficiency beyond the overall deficit.

Overall, the foundation appears to be a small, family-oriented entity that is slowly depleting its principal. While it demonstrates good transparency through its filings and avoids executive compensation, its financial health is challenged by its consistent negative net income. Its ability to sustain its mission in the long term will depend on either increasing revenue streams or significantly reducing expenses.

Verdict: Goico Family Foundation shows mixed signals

Red Flags

Strengths