Quick charity verification for Lacey Food Bank Inc (EIN: 20554678)
Verdict: Lacey Food Bank Inc appears trustworthy
95/100Mission Score
$306KRevenue
$852KAssets
0Red Flags
5Strengths
No red flags identified.
Strengths
Consistent 0% officer compensation across all filings, indicating high program focus.
Zero liabilities reported in all available filings, demonstrating strong financial stability.
Steady and significant asset growth over the past decade, from $257,385 in 2014 to $851,850 currently.
Expenses consistently lower than revenue in most recent periods, allowing for asset accumulation.
Long history of IRS 990 filings (13 periods), indicating transparency and compliance.
Spending Breakdown
How Lacey Food Bank Inc allocates its funds across programs, administration, and fundraising.
95%
Program Spending
Healthy — majority goes to mission
5%
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 Lacey Food Bank Inc
Is Lacey Food Bank Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Lacey Food Bank Inc (EIN: 20554678) appears trustworthy. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
Is Lacey Food Bank Inc a good charity to donate to?
Lacey Food Bank Inc has a Mission Score of 95/100. Revenue: $306K. Assets: $852K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Lacey Food Bank Inc?
The Employer Identification Number (EIN) for Lacey Food Bank Inc is 20554678. 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 Lacey Food Bank Inc spend its money?
Lacey Food Bank Inc allocates 95% to programs, 5% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Lacey Food Bank Inc's tax-exempt status?
You can verify Lacey Food Bank Inc's tax-exempt status using EIN 20554678 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
Lacey Food Bank Inc demonstrates consistent financial health and strong program focus, as evidenced by its IRS 990 filings. The organization has consistently maintained zero liabilities across all reported periods, indicating sound financial management and a lack of debt. Its assets have shown steady growth, increasing from $257,385 in 2014 to $851,850 currently, which suggests effective asset accumulation and stability. The organization's revenue has fluctuated but generally trended upwards over the past decade, with the latest reported revenue at $306,140.
The organization's spending efficiency appears high, with expenses consistently lower than revenue in most recent years, allowing for asset growth. For example, in 2023, revenue was $280,973 against expenses of $209,014. A key indicator of its commitment to its mission is the 0% officer compensation reported across all filings, suggesting that leadership is either volunteer-based or compensated through other means not classified as officer compensation, which is a strong positive for donor confidence. This also implies that a very high percentage of funds are directed towards direct program services.
In terms of transparency, the consistent filing of IRS 990 forms over 13 periods demonstrates a commitment to public disclosure. The absence of liabilities and officer compensation further simplifies financial analysis and enhances trust. Overall, Lacey Food Bank Inc appears to be a well-managed and financially stable nonprofit with a clear dedication to its mission, as reflected in its financial statements.