Quick charity verification for International Magnesium Association (EIN: 131510700)
Verdict: International Magnesium Association appears trustworthy
85/100Mission Score
$655KRevenue
$819KAssets
1Red Flags
4Strengths
Red Flags
Periods of deficit spending (e.g., 2022 expenses of $525,503 exceeded revenue of $504,366)
Strengths
Consistent growth in assets, reaching $632,477 in 2023
No reported officer compensation across all filings, indicating volunteer leadership
Positive net income in recent years (e.g., $149,559 surplus in 2023)
Healthy asset-to-liability ratio (3.56:1 in 2023)
Spending Breakdown
How International Magnesium Association 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 International Magnesium Association
Is International Magnesium Association a legitimate charity?
Based on AI analysis of IRS 990 filings, International Magnesium Association (EIN: 131510700) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
Is International Magnesium Association a good charity to donate to?
International Magnesium Association has a Mission Score of 85/100. Revenue: $655K. Assets: $819K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for International Magnesium Association?
The Employer Identification Number (EIN) for International Magnesium Association is 131510700. 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 International Magnesium Association spend its money?
International Magnesium Association allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify International Magnesium Association's tax-exempt status?
You can verify International Magnesium Association's tax-exempt status using EIN 131510700 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 International Magnesium Association (IMA) demonstrates a generally stable financial position, with recent revenue growth. In 2023, the organization reported revenues of $621,899 against expenses of $472,340, resulting in a surplus that contributed to an increase in assets to $632,477. This marks a positive trend from 2022, where expenses ($525,503) exceeded revenues ($504,366). The organization's assets have shown consistent growth over the past few years, indicating sound financial management and accumulation of resources.
Spending efficiency appears reasonable, with a consistent pattern of managing expenses relative to revenue, though there have been periods of deficit spending, such as in 2022 and 2019. The absence of reported officer compensation across all available filings suggests a high degree of transparency and potentially a volunteer-driven leadership structure, which is a significant positive indicator for a nonprofit. This also implies that a larger portion of funds can be directed towards programmatic activities or operational needs rather than executive salaries.
Overall, the IMA appears to be a financially healthy organization with a good track record of managing its resources. The consistent growth in assets and the lack of officer compensation are strong indicators of financial prudence and a focus on its mission. The organization's ability to generate surpluses in recent years, like the $149,559 surplus in 2023, further solidifies its financial stability.