Is Long Island High Technology Incubator Inc Legit?
Quick charity verification for Long Island High Technology Incubator Inc (EIN: 113059018)
Verdict: Long Island High Technology Incubator Inc appears trustworthy
95/100Mission Score
$2.6MRevenue
$16.9MAssets
1Red Flags
4Strengths
Red Flags
Significant, unexplained asset increase in the latest filing period (from ~$6M to ~$16M) warrants further scrutiny.
Strengths
Consistent 0% officer compensation, indicating highly efficient use of funds.
Stable revenue generation over a decade, averaging around $2 million annually.
Strong program focus implied by minimal administrative and fundraising overhead.
Substantial asset base of $16,857,671 provides financial stability.
Spending Breakdown
How Long Island High Technology Incubator Inc 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 Long Island High Technology Incubator Inc
Is Long Island High Technology Incubator Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Long Island High Technology Incubator Inc (EIN: 113059018) appears trustworthy. Mission Score: 95/100. 1 red flag identified, 4 strengths noted.
Is Long Island High Technology Incubator Inc a good charity to donate to?
Long Island High Technology Incubator Inc has a Mission Score of 95/100. Revenue: $2.6M. Assets: $16.9M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Long Island High Technology Incubator Inc?
The Employer Identification Number (EIN) for Long Island High Technology Incubator Inc is 113059018. 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 Long Island High Technology Incubator Inc spend its money?
Long Island High Technology Incubator Inc allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Long Island High Technology Incubator Inc's tax-exempt status?
You can verify Long Island High Technology Incubator Inc's tax-exempt status using EIN 113059018 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 Long Island High Technology Incubator Inc. demonstrates a stable financial history with consistent revenue streams, averaging around $2 million annually over the past decade. While the organization experienced a slight deficit in the most recent filing period (202406) with expenses of $2,413,358 exceeding revenue of $1,840,280, this appears to be an anomaly rather than a trend, as many prior years showed surpluses or near break-even operations. A significant increase in assets from $6,097,369 in 202306 to $16,794,320 in 202406, alongside a rise in liabilities, warrants further investigation to understand the nature of these changes, potentially indicating a major capital investment or project.
The organization's spending efficiency appears strong, particularly given the consistent reporting of 0% officer compensation across all available filings, suggesting a highly volunteer-driven or lean executive structure. This commitment to minimizing administrative overhead is a positive indicator of resource allocation towards its mission. The lack of reported officer compensation also contributes positively to its transparency profile, as it clearly indicates that no top executives are drawing salaries from the organization's funds.
Overall, the Long Island High Technology Incubator Inc. exhibits sound financial management with a strong focus on its mission, as evidenced by its consistent operations and lack of executive compensation. The recent asset increase is a key area for deeper understanding, but the historical data points to a well-managed and efficient nonprofit.