Quick charity verification for Nan Chul Shin Foundation (EIN: 203306898)
Verdict: Nan Chul Shin Foundation has notable concerns
10/100Mission Score
$1KRevenue
$34KAssets
4Red Flags
1Strengths
Red Flags
Consistent and massive net losses (e.g., $21,580 in 2023, $144,174 in 2022, $1,259,712 in 2020).
Dramatic decline in assets from $1,725,620 in 2012 to $35,628 in 2023.
Revenue generation is extremely low in recent years compared to historical periods and current expenses.
Lack of detailed expense breakdown makes it impossible to assess program efficiency.
Strengths
No officer compensation reported across all filings, indicating no executive salaries.
Spending Breakdown
How Nan Chul Shin Foundation allocates its funds across programs, administration, and fundraising.
0%
Program Spending
Concerning — less than half to programs
100%
Admin Costs
High — over 25% on administration
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 Nan Chul Shin Foundation
Is Nan Chul Shin Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Nan Chul Shin Foundation (EIN: 203306898) has notable concerns. Mission Score: 10/100. 4 red flags identified, 1 strength noted.
Is Nan Chul Shin Foundation a good charity to donate to?
Nan Chul Shin Foundation has a Mission Score of 10/100. Revenue: $1K. Assets: $34K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Nan Chul Shin Foundation?
The Employer Identification Number (EIN) for Nan Chul Shin Foundation is 203306898. 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 Nan Chul Shin Foundation spend its money?
Nan Chul Shin Foundation allocates 0% to programs, 100% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Nan Chul Shin Foundation's tax-exempt status?
You can verify Nan Chul Shin Foundation's tax-exempt status using EIN 203306898 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 Nan Chul Shin Foundation exhibits significant financial instability and a concerning trend of declining assets and substantial net losses over recent years. In 2023, the organization reported revenue of $1,711 against expenses of $23,291, resulting in a net loss of over $21,000. This follows a pattern of expenses far exceeding revenue, notably in 2022 ($145,457 expenses vs. $1,283 revenue) and 2020 ($1,260,949 expenses vs. $1,237 revenue). The foundation's assets have plummeted from a high of $1,725,620 in 2012 to $35,628 in 2023, indicating a severe depletion of its financial base. While officer compensation is consistently reported as 0%, which is a positive for transparency regarding executive pay, the overall financial health is precarious.
The organization's spending efficiency is highly questionable given the consistent and large deficits. Without detailed breakdowns of program, administrative, and fundraising expenses, it's difficult to assess efficiency precisely, but the sheer scale of losses suggests that current operations are unsustainable relative to its revenue generation. The foundation's ability to continue its mission is severely hampered by its financial trajectory. The consistent reporting of liabilities around $2,858 in recent years, despite massive losses, suggests these might be fixed or recurring obligations, but the overall financial picture is one of significant decline and potential insolvency.