Quick charity verification for Harness Racing Museum And Hall Of Fame (EIN: 141368198)
Verdict: Harness Racing Museum And Hall Of Fame appears trustworthy
85/100Mission Score
$4.1MRevenue
$9.5MAssets
1Red Flags
4Strengths
Red Flags
Significant revenue fluctuation in the latest period ($4,051,054 vs. typical $1-1.8M) without immediate explanation, which could indicate reliance on sporadic large donations.
Strengths
Consistent asset growth over the past decade, indicating strong financial management and stability.
Zero reported officer compensation across all filings, enhancing transparency and trust.
Expenses generally well-managed and consistent, typically staying within the $1-1.2 million range.
Positive net income in most years, allowing for reinvestment and asset accumulation.
Spending Breakdown
How Harness Racing Museum And Hall Of Fame 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 Harness Racing Museum And Hall Of Fame
Is Harness Racing Museum And Hall Of Fame a legitimate charity?
Based on AI analysis of IRS 990 filings, Harness Racing Museum And Hall Of Fame (EIN: 141368198) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
Is Harness Racing Museum And Hall Of Fame a good charity to donate to?
Harness Racing Museum And Hall Of Fame has a Mission Score of 85/100. Revenue: $4.1M. Assets: $9.5M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Harness Racing Museum And Hall Of Fame?
The Employer Identification Number (EIN) for Harness Racing Museum And Hall Of Fame is 141368198. 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 Harness Racing Museum And Hall Of Fame spend its money?
Harness Racing Museum And Hall Of Fame allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Harness Racing Museum And Hall Of Fame's tax-exempt status?
You can verify Harness Racing Museum And Hall Of Fame's tax-exempt status using EIN 141368198 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 Harness Racing Museum And Hall Of Fame demonstrates generally stable financial health, with assets consistently growing over the past decade, reaching $9,491,621 in the latest period. Revenue has fluctuated, with a notable spike to $4,051,054 in the latest reported period, significantly higher than previous years which typically hovered around $1-1.8 million. This suggests a potential one-time large donation or event. Expense management appears consistent, with expenses generally staying within the $1-1.2 million range, indicating a controlled operational cost structure. The organization consistently reports 0% officer compensation, which is a strong indicator of volunteer leadership or that compensation is not reported in this specific section, enhancing its transparency and public trust regarding executive pay.
The organization's spending efficiency, based on the provided data, shows a healthy balance. While specific program, administrative, and fundraising breakdowns are not explicitly detailed in the summary, the consistent revenue exceeding expenses in most years (e.g., $1,399,590 revenue vs. $1,172,288 expenses in 202404) allows for asset growth and reinvestment into its mission. The absence of reported officer compensation is a significant positive for transparency, suggesting that resources are directed towards the organization's mission rather than high executive salaries. However, without a detailed functional expense breakdown, a precise assessment of program spending efficiency versus administrative or fundraising costs is limited.
Overall, the Harness Racing Museum And Hall Of Fame appears to be a financially sound organization with a strong asset base and consistent operational expenses. The lack of reported officer compensation is a positive transparency signal. To further enhance transparency, a detailed breakdown of functional expenses would provide a clearer picture of how funds are allocated across programs, administration, and fundraising.