Is Ikan Incorporated Legit?

Quick charity verification for Ikan Incorporated (EIN: 208479728)

Verdict: Ikan Incorporated appears trustworthy

85/100Mission Score

$5.1MRevenue

$1.2MAssets

2Red Flags

3Strengths

Red Flags

Liabilities ($1,836,627 in 2023) exceeding assets ($1,619,850 in 2023)
Deficit spending in recent years (e.g., $183,729 in 2023, $505,877 in 2022)

Strengths

Consistent 0% officer compensation across all filings, indicating high efficiency in executive spending
Significant growth in revenue and assets over the past decade, demonstrating expanding operations
Strong program focus implied by the lack of executive compensation, allowing more funds for mission-related activities

Spending Breakdown

How Ikan Incorporated allocates its funds across programs, administration, and fundraising.

85%

Program Spending

Healthy — majority goes to mission

10%

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 Ikan Incorporated

Is Ikan Incorporated a legitimate charity?

Based on AI analysis of IRS 990 filings, Ikan Incorporated (EIN: 208479728) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.

Is Ikan Incorporated a good charity to donate to?

Ikan Incorporated has a Mission Score of 85/100. Revenue: $5.1M. Assets: $1.2M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Ikan Incorporated?

The Employer Identification Number (EIN) for Ikan Incorporated is 208479728. 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 Ikan Incorporated spend its money?

Ikan Incorporated allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Ikan Incorporated's tax-exempt status?

You can verify Ikan Incorporated's tax-exempt status using EIN 208479728 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

Ikan Incorporated demonstrates a consistent commitment to its mission, as evidenced by its program spending. While the organization has experienced periods of deficit spending, such as in 2023 where expenses exceeded revenue by $183,729, and in 2022 where expenses surpassed revenue by $505,877, it has also shown periods of surplus, like in 2021 with a $13,437 surplus. The organization's assets have grown significantly over the past decade, from $182,231 in 2014 to $1,619,850 in 2023, indicating a growing operational capacity. However, liabilities have also increased substantially, reaching $1,836,627 in 2023, exceeding assets in that period. The consistent reporting of 0% officer compensation across all filings suggests a strong volunteer leadership or a structure where top executives are not compensated, which enhances financial transparency and directs more funds towards programs.

The organization's financial health shows a pattern of rapid growth in both revenue and expenses, with revenue increasing from $699,766 in 2014 to $4,597,361 in 2023. This growth, while impressive, has been accompanied by fluctuating net positions, with recent years showing liabilities exceeding assets. The absence of reported officer compensation is a significant positive indicator for spending efficiency and transparency, as it implies that a greater proportion of funds are available for programmatic activities rather than executive salaries. The NTEE code P82 (Support for the Arts, Culture, and Humanities) suggests a focus on a specific mission, and the financial data, particularly the lack of executive compensation, supports the idea that resources are primarily directed towards achieving this mission.

View Full Transparency Report →

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.