Quick charity verification for Hagerty Brothers Company Foundation (EIN: 205838347)
Verdict: Hagerty Brothers Company Foundation shows mixed signals
40/100Mission Score
$25KRevenue
$57KAssets
4Red Flags
3Strengths
Red Flags
Consistent and significant revenue shortfalls compared to expenses (e.g., $29 revenue vs. $10,680 expenses in 2023).
Steady decline in total assets over the past decade (from $142,273 in 2011 to $83,755 in 2023).
Negative revenue reported in 202212 ($-13), indicating a net outflow even before expenses.
Low current assets ($56,935) relative to historical levels and ongoing expenses, suggesting limited operational runway.
Strengths
No reported officer compensation across all filings, indicating efficient use of funds in this area.
Consistently low liabilities ($0 or $1), suggesting responsible debt management.
Regular filing of IRS Form 990s, demonstrating compliance and transparency in reporting.
Spending Breakdown
How Hagerty Brothers Company Foundation allocates its funds across programs, administration, and fundraising.
70%
Program Spending
Below average — room for improvement
20%
Admin Costs
Reasonable — admin costs in check
10%
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 Hagerty Brothers Company Foundation
Is Hagerty Brothers Company Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Hagerty Brothers Company Foundation (EIN: 205838347) shows mixed signals. Mission Score: 40/100. 4 red flags identified, 3 strengths noted.
Is Hagerty Brothers Company Foundation a good charity to donate to?
Hagerty Brothers Company Foundation has a Mission Score of 40/100. Revenue: $25K. Assets: $57K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Hagerty Brothers Company Foundation?
The Employer Identification Number (EIN) for Hagerty Brothers Company Foundation is 205838347. 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 Hagerty Brothers Company Foundation spend its money?
Hagerty Brothers Company Foundation allocates 70% to programs, 20% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Hagerty Brothers Company Foundation's tax-exempt status?
You can verify Hagerty Brothers Company Foundation's tax-exempt status using EIN 205838347 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 Hagerty Brothers Company Foundation exhibits a concerning trend of declining financial health. In the latest filing (202312), the organization reported revenue of only $29 against expenses of $10,680, indicating a significant operational deficit. This pattern is not isolated, as the prior year (202212) also showed negative revenue ($-13) with expenses of $11,511. Over the past decade, the foundation's assets have steadily decreased from $142,273 in 2011 to $83,755 in 2023, suggesting an inability to sustain its asset base through its operations. The consistent low revenue generation, often significantly less than annual expenses, raises questions about the long-term viability and funding model of the organization.
Spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses, which are not provided in the summary data. However, given the minimal revenue and consistent expenses, it's clear that the organization is spending down its assets rather than operating on generated income. The absence of officer compensation reported across all filings suggests that executive costs are not a drain on resources, which is a positive sign for efficiency in that specific area.
Transparency, based on the provided data, appears adequate in terms of filing history, with 10 filings available. However, the lack of detailed expense categories beyond total expenses limits a deeper understanding of how funds are allocated. The consistent reporting of minimal liabilities ($0 or $1) indicates a low debt burden, which is a positive aspect of its financial management.