Quick charity verification for Granite State Credit Union (EIN: 20227484)
Verdict: Granite State Credit Union appears trustworthy
70/100Mission Score
$0Revenue
$0Assets
1Red Flags
4Strengths
Red Flags
Lack of transparent executive compensation reporting in the provided 'Officer Comp' field, consistently showing 0% for an organization of this size.
Strengths
Consistent and significant growth in revenue, increasing from $18.5M in 2014 to $43.4M in 2023.
Strong asset growth, nearly doubling from $333.6M in 2014 to $697M in 2023.
Consistent positive net income, indicating financial stability and effective management.
Stable and growing financial operations over a decade, demonstrating resilience and expansion.
Spending Breakdown
How Granite State Credit Union allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
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 Granite State Credit Union
Is Granite State Credit Union a legitimate charity?
Based on AI analysis of IRS 990 filings, Granite State Credit Union (EIN: 20227484) appears trustworthy. Mission Score: 70/100. 1 red flag identified, 4 strengths noted.
Is Granite State Credit Union a good charity to donate to?
Granite State Credit Union has a Mission Score of 70/100. Revenue: $0. Assets: $0. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Granite State Credit Union?
The Employer Identification Number (EIN) for Granite State Credit Union is 20227484. 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 Granite State Credit Union spend its money?
Granite State Credit Union allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Granite State Credit Union's tax-exempt status?
You can verify Granite State Credit Union's tax-exempt status using EIN 20227484 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
Granite State Credit Union, as a credit union, operates under a different financial model than traditional charities. Its primary purpose is to serve its members, not to generate charitable program spending in the conventional sense. The provided IRS 990 data shows consistent growth in revenue, expenses, and assets over the past decade, with revenue increasing from $18.5 million in 2014 to over $43.4 million in 2023, and assets growing from $333.6 million to $697 million in the same period. The organization consistently reports 0% officer compensation, which is unusual for an organization of this size and suggests that executive compensation may be reported in a different section of the 990 or that the credit union structure itself leads to this reporting. This lack of detail on executive compensation within the 'Officer Comp' field on the provided data points could be a transparency concern for those evaluating it as a traditional nonprofit, though it's typical for credit unions to report compensation differently.
Given its nature as a credit union, the concept of 'program spending efficiency' needs to be reinterpreted. Its 'programs' are the financial services provided to its members. The consistent positive net income (revenue minus expenses) indicates financial stability and growth, allowing it to expand its services and asset base. For example, in 2023, revenue was $43,417,675 and expenses were $36,911,263, resulting in a net gain of over $6.5 million, which is reinvested into the credit union for the benefit of its members. The significant growth in assets and liabilities also reflects its expanding operations and member base.
Transparency regarding executive compensation is a notable area for clarification. While the provided data states 0% for 'Officer Comp', it is highly improbable that an organization with nearly $700 million in assets and over $43 million in annual revenue has no compensated officers. This reporting method, while potentially compliant for credit unions, could be misleading to an external analyst expecting to see executive salaries. Overall, the credit union demonstrates strong financial health and growth, but the specific reporting of compensation warrants further investigation for a complete transparency assessment.