Is Grow North Regional Economic Development Corporation Legit?
Quick charity verification for Grow North Regional Economic Development Corporation (EIN: 201626778)
Verdict: Grow North Regional Economic Development Corporation appears trustworthy
85/100Mission Score
$103KRevenue
$134KAssets
1Red Flags
4Strengths
Red Flags
Significant increase in liabilities from $2,154 in 2022 to $47,920 in 2023 without clear explanation.
Strengths
Consistent asset growth from $4,757 in 2012 to $196,571 in 2023.
No reported officer compensation across all filings, indicating efficient use of funds.
Generally operates with revenue exceeding expenses, demonstrating financial stability.
Long filing history (10 filings) indicates sustained operation and compliance.
Spending Breakdown
How Grow North Regional Economic Development Corporation allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
15%
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 Grow North Regional Economic Development Corporation
Is Grow North Regional Economic Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Grow North Regional Economic Development Corporation (EIN: 201626778) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
Is Grow North Regional Economic Development Corporation a good charity to donate to?
Grow North Regional Economic Development Corporation has a Mission Score of 85/100. Revenue: $103K. Assets: $134K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Grow North Regional Economic Development Corporation?
The Employer Identification Number (EIN) for Grow North Regional Economic Development Corporation is 201626778. 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 Grow North Regional Economic Development Corporation spend its money?
Grow North Regional Economic Development Corporation allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Grow North Regional Economic Development Corporation's tax-exempt status?
You can verify Grow North Regional Economic Development Corporation's tax-exempt status using EIN 201626778 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
Grow North Regional Economic Development Corporation demonstrates a generally stable financial position, with assets growing from $4,757 in 2012 to $196,571 in 2023. The organization consistently operates with revenues exceeding expenses in most years, indicating sound financial management. For instance, in 2023, revenue was $128,388 against expenses of $79,884, resulting in a surplus. However, the organization's liabilities have seen a significant increase in the latest filing, jumping from $2,154 in 2022 to $47,920 in 2023, which warrants closer examination to understand the nature of these obligations.
The organization's spending efficiency appears reasonable, with no reported officer compensation across all filings, suggesting that resources are not being diverted to high executive salaries. While specific program spending ratios are not detailed in the provided data, the consistent surpluses imply that the organization is managing its operational costs effectively relative to its income. The lack of officer compensation also contributes positively to its transparency and public trust.
Overall, Grow North appears to be a financially prudent organization, effectively growing its asset base over time. The recent increase in liabilities is a point of interest, but without further detail on the nature of these liabilities, it's difficult to assess its long-term impact. The consistent absence of officer compensation is a strong indicator of a commitment to directing funds towards its mission.