Is Industrial Development Corporation Of Sanford Legit?
Quick charity verification for Industrial Development Corporation Of Sanford (EIN: 16019454)
Verdict: Industrial Development Corporation Of Sanford appears trustworthy
95/100Mission Score
$139KRevenue
$5.3MAssets
0Red Flags
5Strengths
No red flags identified.
Strengths
Consistent asset growth, from $2,762,007 in 2014 to $4,625,739 in 2023.
Zero reported officer compensation across all filings, indicating high efficiency.
Revenues consistently exceed expenses, demonstrating strong financial management (e.g., $102,452 revenue vs. $37,485 expenses in 2023).
Low liabilities relative to assets, indicating financial stability (e.g., $5,000 liabilities vs. $4,625,739 assets in 2023).
Stable and predictable financial performance over a long period (13 filings).
Spending Breakdown
How Industrial Development Corporation Of Sanford allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
0%
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 Industrial Development Corporation Of Sanford
Is Industrial Development Corporation Of Sanford a legitimate charity?
Based on AI analysis of IRS 990 filings, Industrial Development Corporation Of Sanford (EIN: 16019454) appears trustworthy. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
Is Industrial Development Corporation Of Sanford a good charity to donate to?
Industrial Development Corporation Of Sanford has a Mission Score of 95/100. Revenue: $139K. Assets: $5.3M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Industrial Development Corporation Of Sanford?
The Employer Identification Number (EIN) for Industrial Development Corporation Of Sanford is 16019454. 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 Industrial Development Corporation Of Sanford spend its money?
Industrial Development Corporation Of Sanford allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Industrial Development Corporation Of Sanford's tax-exempt status?
You can verify Industrial Development Corporation Of Sanford's tax-exempt status using EIN 16019454 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 Industrial Development Corporation Of Sanford demonstrates consistent financial stability, with assets steadily growing from $2,762,007 in 2014 to $4,625,739 in 2023. The organization consistently operates with a positive net income, as evidenced by revenues generally exceeding expenses, such as $102,452 in revenue against $37,485 in expenses in 2023. This indicates effective management of resources. The absence of reported officer compensation across all available filings suggests a volunteer-driven leadership or that compensation is covered by another entity, which can contribute to lower administrative costs and higher program efficiency. The organization's NTEE code S41 (Community Development Corporations) aligns with its name, suggesting a clear programmatic focus. The organization's financial health appears robust, with a strong asset base relative to its annual revenue and expenses, indicating long-term sustainability.