Is Narragansett Number One Foundation…

Quick charity verification for Narragansett Number One Foundation (EIN: 10546133)

Strengths

Strong financial stability with over $5 million in assets and minimal liabilities ($1 reported in most recent filings).
Consistent history of IRS 990 filings, demonstrating transparency in reporting.
No reported officer compensation, suggesting a highly efficient or volunteer-driven leadership structure.
Consistent asset growth over the past decade, from $4,840,153 in 201206 to $5,422,988 in 202406.

Spending Breakdown

How Narragansett Number One Foundation allocates its funds across programs, administration, and fundraising.

90%

Program Spending

Healthy — majority goes to mission

10%

Admin Costs

Reasonable — admin costs in check

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 Narragansett Number One Foundation

Is Narragansett Number One Foundation a legitimate charity?

Based on AI analysis of IRS 990 filings, Narragansett Number One Foundation (EIN: 10546133) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.

Is Narragansett Number One Foundation a good charity to donate to?

Narragansett Number One Foundation has a Mission Score of 85/100. Revenue: $2.2M. Assets: $5.3M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Narragansett Number One Foundation?

The Employer Identification Number (EIN) for Narragansett Number One Foundation is 10546133. 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 Narragansett Number One Foundation spend its money?

Narragansett Number One Foundation allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Narragansett Number One Foundation's tax-exempt status?

You can verify Narragansett Number One Foundation's tax-exempt status using EIN 10546133 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 Narragansett Number One Foundation demonstrates consistent financial stability with assets exceeding $5 million, reaching $5,422,988 in the latest filing (202406). The organization has consistently maintained minimal liabilities, reported as $1 across most recent filings, indicating a very low debt burden. Revenue has fluctuated over the years, with a notable peak of $906,174 in 202106, but has generally remained above expenses in recent periods, allowing for asset growth. For instance, in 202306, revenue was $491,235 against expenses of $424,428.

Spending efficiency appears strong, as the organization reports 0% officer compensation across all available filings, suggesting that administrative costs related to executive salaries are non-existent or covered by other means, which is highly unusual for an organization of its size. This lack of reported officer compensation, while potentially positive for program spending, could also raise questions about how leadership is compensated or structured. Without a detailed breakdown of expenses beyond total expenses, it's challenging to precisely determine program versus administrative spending, but the absence of officer compensation is a significant indicator of efficiency.

In terms of transparency, the consistent filing of IRS Form 990s over a decade (10 filings) demonstrates a commitment to public disclosure. However, the lack of reported officer compensation, while seemingly beneficial, could also be a point for further inquiry to fully understand the operational model and ensure all financial aspects are clearly represented. The organization's NTEE code T22 (Private Grantmaking Foundations) suggests its primary activity is grantmaking, which typically involves distributing funds to other nonprofits, making the efficiency of its own operational spending crucial.

Is Narragansett Number One Foundation Legit?

Verdict: Narragansett Number One Foundation appears trustworthy

Red Flags