Consistent revenue growth, increasing from $5.6M in 2014 to $9.8M in 2023.
Healthy asset accumulation, growing from $15.3M to $22.4M over the last decade.
Expenses consistently lower than revenue, indicating sound financial management.
Low liabilities relative to assets, suggesting financial stability.
Spending Breakdown
How Granite State Economic Development Corp 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 Economic Development Corp
Is Granite State Economic Development Corp a legitimate charity?
Based on AI analysis of IRS 990 filings, Granite State Economic Development Corp (EIN: 20385121) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
Is Granite State Economic Development Corp a good charity to donate to?
Granite State Economic Development Corp has a Mission Score of 85/100. Revenue: $15.5M. Assets: $27.8M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Granite State Economic Development Corp?
The Employer Identification Number (EIN) for Granite State Economic Development Corp is 20385121. 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 Economic Development Corp spend its money?
Granite State Economic Development Corp allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Granite State Economic Development Corp's tax-exempt status?
You can verify Granite State Economic Development Corp's tax-exempt status using EIN 20385121 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 Economic Development Corp demonstrates consistent financial growth and stability over the past decade. Revenue has steadily increased from $5,654,277 in 2014 to $9,828,396 in 2023, indicating a healthy expansion of operations. The organization consistently maintains a positive net income, with assets growing from $15,303,040 to $22,447,674 over the same period, suggesting sound financial management and accumulation of resources. The liabilities also show a controlled increase, remaining a reasonable proportion of total assets.
The organization's spending efficiency appears strong, as expenses consistently track below revenue, allowing for asset growth. A notable aspect of their transparency is the reported 0% officer compensation across all available filings, which suggests either a volunteer-led executive team or compensation being reported under different categories not immediately visible as 'officer compensation' in this summary. Further investigation into their detailed expense breakdown would be necessary to fully assess program versus administrative spending, but the overall financial trajectory is positive.
Given the consistent growth in revenue and assets, coupled with controlled expenses and no reported officer compensation, Granite State Economic Development Corp appears to be a financially healthy and well-managed organization. The lack of reported officer compensation is a significant transparency point, though it warrants deeper scrutiny to understand the full compensation structure for key personnel.