Quick charity verification for Laces Of Love Charitable Foundation Inc (EIN: 202870936)
Verdict: Laces Of Love Charitable Foundation Inc appears trustworthy
92/100Mission Score
$825KRevenue
$832KAssets
0Red Flags
5Strengths
No red flags identified.
Strengths
Consistent financial surpluses, indicating strong financial management (e.g., $586,468 revenue vs. $378,366 expenses in 2023).
Zero liabilities reported across all available filings, demonstrating excellent financial stability and low risk.
0% officer compensation, indicating a volunteer-led organization and high dedication to mission.
Consistent growth in assets over the past decade, from $103,802 in 2014 to $538,509 in 2023.
Regular and extensive IRS 990 filing history (13 filings), demonstrating strong transparency and accountability.
Spending Breakdown
How Laces Of Love Charitable Foundation 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 Laces Of Love Charitable Foundation Inc
Is Laces Of Love Charitable Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Laces Of Love Charitable Foundation Inc (EIN: 202870936) appears trustworthy. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.
Is Laces Of Love Charitable Foundation Inc a good charity to donate to?
Laces Of Love Charitable Foundation Inc has a Mission Score of 92/100. Revenue: $825K. Assets: $832K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Laces Of Love Charitable Foundation Inc?
The Employer Identification Number (EIN) for Laces Of Love Charitable Foundation Inc is 202870936. 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 Laces Of Love Charitable Foundation Inc spend its money?
Laces Of Love Charitable Foundation Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Laces Of Love Charitable Foundation Inc's tax-exempt status?
You can verify Laces Of Love Charitable Foundation Inc's tax-exempt status using EIN 202870936 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
Laces Of Love Charitable Foundation Inc demonstrates generally sound financial health, with consistent revenue generation and asset growth over the past decade. The organization's latest filing for 2023 shows revenue of $586,468 against expenses of $378,366, resulting in a surplus that contributed to an increase in assets to $538,509. This trend of managing expenses below revenue is positive, indicating financial stability and responsible stewardship of funds. The organization consistently reports zero liabilities, which is a strong indicator of financial health and low risk.
Spending efficiency appears to be a strength, as evidenced by the consistent surpluses in most years. While specific program, administrative, and fundraising expense breakdowns are not provided in the summary data, the overall financial picture suggests that a significant portion of funds are available for mission-related activities. The absence of officer compensation further enhances the perception of efficiency and dedication to the mission, as all leadership is voluntary.
Transparency is high given the consistent filing of IRS Form 990s over 13 periods, demonstrating a commitment to public accountability. The clear reporting of zero liabilities and zero officer compensation in all provided filings contributes positively to the organization's transparency profile. The consistent growth in assets, from $103,802 in 2014 to $538,509 in 2023, reflects effective financial management and the ability to build reserves.