Is Motor Vehicle Accident Indemnification Corporation Legit?
Quick charity verification for Motor Vehicle Accident Indemnification Corporation (EIN: 135672354)
Verdict: Motor Vehicle Accident Indemnification Corporation appears trustworthy
75/100Mission Score
$81.0MRevenue
$122.9MAssets
2Red Flags
3Strengths
Red Flags
Consistent 0% officer compensation reported on 990s, which is unusual for an organization of this size and warrants further investigation.
Lack of detailed expense breakdown (program, admin, fundraising) in the provided summary data makes it difficult to fully assess spending efficiency.
Strengths
Strong and consistent growth in assets, from $72,896,418 in 2014 to $112,070,139 in 2023, indicating financial stability.
Ability to manage increasing liabilities, with assets consistently exceeding liabilities, demonstrating sound financial management.
Consistent operational presence over a decade with 13 filings, suggesting a stable and established organization.
Spending Breakdown
How Motor Vehicle Accident Indemnification Corporation 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 Motor Vehicle Accident Indemnification Corporation
Is Motor Vehicle Accident Indemnification Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Motor Vehicle Accident Indemnification Corporation (EIN: 135672354) appears trustworthy. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
Is Motor Vehicle Accident Indemnification Corporation a good charity to donate to?
Motor Vehicle Accident Indemnification Corporation has a Mission Score of 75/100. Revenue: $81.0M. Assets: $122.9M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Motor Vehicle Accident Indemnification Corporation?
The Employer Identification Number (EIN) for Motor Vehicle Accident Indemnification Corporation is 135672354. 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 Motor Vehicle Accident Indemnification Corporation spend its money?
Motor Vehicle Accident Indemnification Corporation allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Motor Vehicle Accident Indemnification Corporation's tax-exempt status?
You can verify Motor Vehicle Accident Indemnification Corporation's tax-exempt status using EIN 135672354 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 Motor Vehicle Accident Indemnification Corporation (MVAIC) demonstrates a consistent operational profile, with revenues and expenses generally increasing over the past decade. In the most recent filing (202312), MVAIC reported revenues of $62,554,974 against expenses of $62,858,486, indicating a slight operational deficit for that period. However, the organization's assets have grown substantially, from $72,896,418 in 2014 to $112,070,139 in 2023, suggesting a healthy long-term financial position despite year-to-year fluctuations in net income. Liabilities have also increased in tandem with assets, reaching $108,108,156 in 2023, which is typical for an organization managing indemnification funds. The consistent reporting of 0% officer compensation across all available filings suggests a unique operational structure or that compensation is handled through other means not reflected in this specific line item, which could impact a full understanding of administrative costs without further detail.
Spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses, which are not provided in the summary data. However, the organization's primary function as an indemnification corporation implies that a significant portion of its expenses would be directly related to its mission of providing coverage for motor vehicle accidents. The consistent growth in assets and the ability to cover liabilities indicate financial stability. The absence of reported officer compensation on the 990s is a notable point regarding transparency, as it deviates from typical nonprofit reporting where executive salaries are usually disclosed if applicable.
Overall, MVAIC appears to be a financially stable entity, effectively managing its assets and liabilities to fulfill its indemnification purpose. The growth in assets over time suggests prudent financial management. However, the lack of detailed spending breakdowns and the zero officer compensation reported across all filings warrant further investigation for a complete picture of its operational efficiency and transparency practices.