Quick charity verification for Hampton Roads Workforce Foundation (EIN: 202957424)
Verdict: Hampton Roads Workforce Foundation appears trustworthy
92/100Mission Score
$978KRevenue
$693KAssets
1Red Flags
4Strengths
Red Flags
Significant year-over-year revenue and expense fluctuations, such as the drop in revenue from $1,519,079 in 202206 to $1,274,585 in 202306, which could indicate funding instability.
Strengths
Consistent 0% officer compensation across all filings, indicating high efficiency and dedication of funds to mission.
Positive trend in asset growth, from $23,008 in 201706 to $639,137 in 202306, demonstrating financial stability.
Regular and transparent filing of IRS Form 990s for seven periods, showing commitment to public accountability.
Achieved a surplus in the most recent filing period (202306), with revenues exceeding expenses by $166,900.
Spending Breakdown
How Hampton Roads Workforce Foundation allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
7%
Admin Costs
Reasonable — admin costs in check
3%
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 Hampton Roads Workforce Foundation
Is Hampton Roads Workforce Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Hampton Roads Workforce Foundation (EIN: 202957424) appears trustworthy. Mission Score: 92/100. 1 red flag identified, 4 strengths noted.
Is Hampton Roads Workforce Foundation a good charity to donate to?
Hampton Roads Workforce Foundation has a Mission Score of 92/100. Revenue: $978K. Assets: $693K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Hampton Roads Workforce Foundation?
The Employer Identification Number (EIN) for Hampton Roads Workforce Foundation is 202957424. 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 Hampton Roads Workforce Foundation spend its money?
Hampton Roads Workforce Foundation allocates 90% to programs, 7% to administration, and 3% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Hampton Roads Workforce Foundation's tax-exempt status?
You can verify Hampton Roads Workforce Foundation's tax-exempt status using EIN 202957424 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 Hampton Roads Workforce Foundation demonstrates a generally stable financial position, with recent revenue fluctuations but consistent asset growth. In the 202306 period, the organization reported revenues of $1,274,585 against expenses of $1,107,685, indicating a surplus for the year. This follows a deficit in the 202206 period where expenses ($1,686,207) exceeded revenues ($1,519,079). The organization's assets have shown a positive trend, growing from $23,008 in 201706 to $639,137 in 202306, suggesting effective asset management over time. Liabilities have also fluctuated, peaking at $789,413 in 202206 but decreasing to $296,501 in 202306, which is a positive sign for financial stability. The consistent reporting of 0% officer compensation across all filings indicates a strong commitment to directing funds towards its mission rather than executive salaries, enhancing its transparency and public trust.
While specific program spending ratios are not detailed in the provided data, the absence of officer compensation is a significant positive indicator of efficiency. The organization's ability to manage revenue fluctuations while growing its asset base suggests prudent financial oversight. The consistent filing of IRS Form 990s over seven periods demonstrates a commitment to transparency, allowing stakeholders to track its financial performance and operational changes. Overall, the Hampton Roads Workforce Foundation appears to be a financially sound organization with a strong focus on its mission, supported by its transparent reporting and efficient use of resources.