Quick charity verification for My Covenant Place Inc (EIN: 113826601)
Verdict: My Covenant Place Inc appears trustworthy
70/100Mission Score
$1.9MRevenue
$510KAssets
4Red Flags
3Strengths
Red Flags
Limited financial history (only one filing)
Slight operating deficit in the reported year ($136,483 revenue vs. $141,630 expenses)
Very low asset base relative to liabilities ($30,324 assets vs. $28,100 liabilities)
Significant discrepancy between 'Latest Revenue' and reported 990 revenue without explanation
Strengths
No officer compensation reported in the initial filing (0%)
Relatively low administrative and fundraising expenses based on typical non-profit benchmarks (estimated)
Focus on program delivery implied by the lack of executive compensation
Spending Breakdown
How My Covenant Place 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 My Covenant Place Inc
Is My Covenant Place Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, My Covenant Place Inc (EIN: 113826601) appears trustworthy. Mission Score: 70/100. 4 red flags identified, 3 strengths noted.
Is My Covenant Place Inc a good charity to donate to?
My Covenant Place Inc has a Mission Score of 70/100. Revenue: $1.9M. Assets: $510K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for My Covenant Place Inc?
The Employer Identification Number (EIN) for My Covenant Place Inc is 113826601. 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 My Covenant Place Inc spend its money?
My Covenant Place Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify My Covenant Place Inc's tax-exempt status?
You can verify My Covenant Place Inc's tax-exempt status using EIN 113826601 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
My Covenant Place Inc, with a single filing in 2022, shows a relatively small operational footprint for its reported revenue. The organization reported $136,483 in revenue against $141,630 in expenses for the 2022 period, indicating a slight deficit in that year. Its assets stood at $30,324 with liabilities of $28,100, suggesting a very lean financial position. The lack of officer compensation reported in its initial filing is a positive sign for a nascent organization, indicating resources are not being diverted to high executive salaries early on. However, with only one filing, a comprehensive assessment of long-term financial health and spending efficiency is challenging. The significant discrepancy between the 'Latest Revenue' of $1,852,905 and the reported 2022 revenue of $136,483 suggests either a substantial recent growth not yet reflected in public filings or a misunderstanding of the 'Latest Revenue' figure provided. This makes a full transparency assessment difficult without more current and detailed financial data.