Quick charity verification for Independence Association Inc (EIN: 10278024)
Verdict: Independence Association Inc appears trustworthy
85/100Mission Score
$11.6MRevenue
$10.4MAssets
1Red Flags
4Strengths
Red Flags
Unusually low or 0% reported officer compensation, which may indicate a reporting anomaly or a need for deeper scrutiny into compensation structures.
Strengths
Consistent revenue generation, with latest revenue at $11,811,840.
Stable asset growth, reaching $10,195,662 in the latest period.
Expenses generally align with revenues, indicating sound financial management.
Long history of IRS 990 filings (13 filings), suggesting transparency and compliance.
Spending Breakdown
How Independence Association 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 Independence Association Inc
Is Independence Association Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Independence Association Inc (EIN: 10278024) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
Is Independence Association Inc a good charity to donate to?
Independence Association Inc has a Mission Score of 85/100. Revenue: $11.6M. Assets: $10.4M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Independence Association Inc?
The Employer Identification Number (EIN) for Independence Association Inc is 10278024. 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 Independence Association Inc spend its money?
Independence Association Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Independence Association Inc's tax-exempt status?
You can verify Independence Association Inc's tax-exempt status using EIN 10278024 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
Independence Association Inc demonstrates consistent financial activity, with revenues and expenses generally in balance over the past decade. In the latest filing (202306), the organization reported revenues of $11,811,840 against expenses of $11,555,177, indicating a slight surplus. While the organization's assets have grown from $6,889,006 in 2014 to $10,195,662 in 2023, liabilities have also increased, though they remain manageable relative to assets. The consistent reporting of 0% officer compensation across all available filings suggests a high degree of transparency regarding executive pay, or that executive compensation is not reported in a way that is easily identifiable as 'officer compensation' in the summary data provided. Further investigation into detailed expense categories would be beneficial to fully assess spending efficiency, but the overall financial trend appears stable.