Quick charity verification for Icon Museum And Study Center Inc (EIN: 201992304)
Verdict: Icon Museum And Study Center Inc appears trustworthy
90/100Mission Score
$1.8MRevenue
$25.5MAssets
2Red Flags
4Strengths
Red Flags
Significant revenue volatility, with a drop from $14.7M in 2022 to $0.9M in 2023, which could impact future operational planning if not managed effectively.
Increase in liabilities to $33,519 in 2023, which, while small, warrants attention given the concurrent revenue decline.
Strengths
Strong and growing asset base, reaching over $25 million, providing long-term financial security.
Consistent reporting of 0% officer compensation, demonstrating excellent financial transparency and dedication to mission.
Long history of IRS 990 filings (10 filings), suggesting consistent compliance and transparency.
Spending Breakdown
How Icon Museum And Study Center Inc allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
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 Icon Museum And Study Center Inc
Is Icon Museum And Study Center Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Icon Museum And Study Center Inc (EIN: 201992304) appears trustworthy. Mission Score: 90/100. 2 red flags identified, 4 strengths noted.
Is Icon Museum And Study Center Inc a good charity to donate to?
Icon Museum And Study Center Inc has a Mission Score of 90/100. Revenue: $1.8M. Assets: $25.5M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Icon Museum And Study Center Inc?
The Employer Identification Number (EIN) for Icon Museum And Study Center Inc is 201992304. 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 Icon Museum And Study Center Inc spend its money?
Icon Museum And Study Center Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Icon Museum And Study Center Inc's tax-exempt status?
You can verify Icon Museum And Study Center Inc's tax-exempt status using EIN 201992304 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 Icon Museum And Study Center Inc demonstrates a fluctuating but generally strong financial position, with assets growing significantly over the past decade, reaching $25,520,601. Revenue has been inconsistent, with a notable spike to $14,789,488 in 2022, followed by a decrease to $924,046 in 2023. Despite revenue fluctuations, expenses have remained relatively stable, typically ranging between $1.3 million and $1.9 million annually. The organization consistently reports 0% officer compensation, which is a strong indicator of transparency and efficient use of funds for its mission rather than executive salaries. The significant increase in liabilities to $33,519 in 2023, while still a small fraction of total assets, warrants monitoring, especially given the concurrent drop in revenue for that period. Overall, the organization appears financially sound, with a strong asset base and a commitment to minimizing executive compensation.