Quick charity verification for Golden Age Apartments Inc (EIN: 208547697)
Verdict: Golden Age Apartments Inc appears trustworthy
85/100Mission Score
$107KRevenue
$948KAssets
2Red Flags
4Strengths
Red Flags
Consistent deficit spending, with expenses exceeding revenue in all recent periods (e.g., $150,381 expenses vs. $113,218 revenue in 2023).
Declining asset base over the past decade, from $1,301,050 in 2014 to $993,549 in 2023, indicating reliance on reserves to cover operational shortfalls.
Strengths
Zero officer compensation reported across all filings, demonstrating a highly efficient and volunteer-driven leadership model.
Very low liabilities, consistently below $10,000, indicating responsible debt management.
Strong program focus, with virtually all spending directed towards its mission and necessary administrative overhead due to no officer compensation and minimal fundraising.
Extensive filing history (15 filings) demonstrates a commitment to transparency and compliance.
Spending Breakdown
How Golden Age Apartments Inc allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
0%
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 Golden Age Apartments Inc
Is Golden Age Apartments Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Golden Age Apartments Inc (EIN: 208547697) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
Is Golden Age Apartments Inc a good charity to donate to?
Golden Age Apartments Inc has a Mission Score of 85/100. Revenue: $107K. Assets: $948K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Golden Age Apartments Inc?
The Employer Identification Number (EIN) for Golden Age Apartments Inc is 208547697. 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 Golden Age Apartments Inc spend its money?
Golden Age Apartments Inc allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Golden Age Apartments Inc's tax-exempt status?
You can verify Golden Age Apartments Inc's tax-exempt status using EIN 208547697 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
Golden Age Apartments Inc. demonstrates consistent financial operations, primarily focused on providing housing services. The organization has maintained a relatively stable revenue stream, averaging around $100,000 annually over the past decade, with the latest reported revenue at $113,218 for 2023. However, a notable trend is that expenses have consistently exceeded revenue in recent years, leading to a gradual decline in total assets from $1,301,050 in 2014 to $993,549 in 2023. This indicates that the organization is operating at a deficit, drawing down its reserves to cover operational costs.
Despite the deficit spending, the organization maintains a very low liability profile, with liabilities consistently below $10,000, suggesting good management of debt. A significant strength is the complete absence of officer compensation reported across all available filings, which speaks to a volunteer-driven leadership model and ensures that all funds are directed towards the organization's mission. This practice significantly enhances its spending efficiency and transparency.
While the consistent deficit spending is a concern for long-term sustainability, the organization's commitment to low overhead, as evidenced by zero officer compensation, and its clear mission focus on providing housing (NTEE Code L22) are positive indicators. The transparency of its financial filings, with 15 years of data available, also contributes to a positive assessment of its accountability.