Is Havenwoods Economic Developement Corp…

Quick charity verification for Havenwoods Economic Developement Corp (EIN: 20590061)

Spending Breakdown

How Havenwoods Economic Developement Corp allocates its funds across programs, administration, and fundraising.

80%

Program Spending

Healthy — majority goes to mission

15%

Admin Costs

Reasonable — admin costs in check

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 Havenwoods Economic Developement Corp

Is Havenwoods Economic Developement Corp a legitimate charity?

Based on AI analysis of IRS 990 filings, Havenwoods Economic Developement Corp (EIN: 20590061) appears trustworthy. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.

Is Havenwoods Economic Developement Corp a good charity to donate to?

Havenwoods Economic Developement Corp has a Mission Score of 75/100. Revenue: $641K. Assets: $276K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Havenwoods Economic Developement Corp?

The Employer Identification Number (EIN) for Havenwoods Economic Developement Corp is 20590061. 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 Havenwoods Economic Developement Corp spend its money?

Havenwoods Economic Developement Corp allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Havenwoods Economic Developement Corp's tax-exempt status?

You can verify Havenwoods Economic Developement Corp's tax-exempt status using EIN 20590061 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

Havenwoods Economic Development Corp demonstrates a mixed financial picture. While the organization has shown growth in revenue and assets over the past few years, particularly from 2020 to 2022, the most recent filing (202312) indicates a significant deficit where expenses ($501,760) exceeded revenue ($349,541) by over $150,000. This recent trend of spending more than it earns, following a surplus in 2022, warrants closer examination to understand its sustainability. The organization's assets have fluctuated, reaching a high of $349,999 in 2022 but decreasing to $194,134 in 2023, suggesting potential liquidity challenges if deficits persist.

Spending efficiency appears to be a strength, as the organization consistently reports 0% officer compensation, indicating that leadership is either volunteer-based or compensated through other means not categorized as officer compensation, which is a positive sign for resource allocation. However, without a detailed breakdown of program, administrative, and fundraising expenses in the provided data, a precise assessment of spending efficiency is limited. The consistent filing of IRS 990s over 14 periods demonstrates a commitment to regulatory transparency.

Overall, while the organization has a history of operational activity and growth, the recent financial performance in 2023, marked by a substantial deficit, raises concerns about its short-term financial stability. Future filings will be crucial to determine if the 2023 deficit was an anomaly or the start of a concerning trend. The lack of reported officer compensation is a notable positive for resource allocation.

Is Havenwoods Economic Developement Corp Legit?

Verdict: Havenwoods Economic Developement Corp appears trustworthy

Red Flags

Strengths