Is I Have A Dream Foundation New Jersey Inc Legit?
Quick charity verification for I Have A Dream Foundation New Jersey Inc (EIN: 20775259)
Verdict: I Have A Dream Foundation New Jersey Inc appears trustworthy
85/100Mission Score
$900KRevenue
$565KAssets
3Red Flags
3Strengths
Red Flags
Significant operational deficit in 2022 ($281,599 revenue vs. $520,036 expenses)
Inconsistent revenue streams with large year-over-year fluctuations (e.g., $649,632 in 2021 to $281,599 in 2022)
Multiple periods where expenses exceeded revenue (e.g., 2022, 2019, 2017, 2015, 2014, 2013)
Strengths
Consistent reporting of 0% officer compensation, indicating high efficiency in leadership costs.
Maintained a stable asset base despite revenue fluctuations, suggesting financial resilience.
Zero liabilities reported in most recent filings (e.g., 2022, 2021, 2019, 2018, 2017), indicating good debt management.
Spending Breakdown
How I Have A Dream Foundation New Jersey Inc 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 I Have A Dream Foundation New Jersey Inc
Is I Have A Dream Foundation New Jersey Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, I Have A Dream Foundation New Jersey Inc (EIN: 20775259) appears trustworthy. Mission Score: 85/100. 3 red flags identified, 3 strengths noted.
Is I Have A Dream Foundation New Jersey Inc a good charity to donate to?
I Have A Dream Foundation New Jersey Inc has a Mission Score of 85/100. Revenue: $900K. Assets: $565K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for I Have A Dream Foundation New Jersey Inc?
The Employer Identification Number (EIN) for I Have A Dream Foundation New Jersey Inc is 20775259. 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 I Have A Dream Foundation New Jersey Inc spend its money?
I Have A Dream Foundation New Jersey Inc allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify I Have A Dream Foundation New Jersey Inc's tax-exempt status?
You can verify I Have A Dream Foundation New Jersey Inc's tax-exempt status using EIN 20775259 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
I Have A Dream Foundation New Jersey Inc demonstrates a mixed financial picture. While the organization has shown significant fluctuations in revenue, with a notable peak of $649,632 in 2021 and a more recent $281,599 in 2022, its assets have generally remained stable, currently at $564,935. A positive indicator of financial health is the consistent reporting of zero liabilities in most recent filings, suggesting good fiscal management and no outstanding debts. The organization's commitment to its mission is further supported by the absence of reported officer compensation across all available filings, indicating that leadership is either volunteer-based or compensated through other means not categorized as officer compensation, which can be a sign of efficient resource allocation towards programs.
However, the organization experienced a significant deficit in 2022, with expenses of $520,036 exceeding revenue of $281,599. This trend of expenses occasionally surpassing revenue is observed in several other periods as well (e.g., 2019, 2017, 2015, 2014, 2013), which could raise questions about long-term sustainability if not addressed. Despite these fluctuations, the organization has maintained a healthy asset base, suggesting it has reserves to weather these periods. The lack of reported officer compensation enhances transparency and suggests a focus on program delivery.
Overall, the organization appears to be transparent in its financial reporting, with a clear history of filings. Its financial health is generally stable due to its asset base, but the recurring operational deficits in some years warrant closer monitoring. The absence of officer compensation is a strong positive for spending efficiency and mission focus.