Is North Florida Economic Developmentpartnership Inc Legit?
Quick charity verification for North Florida Economic Developmentpartnership Inc (EIN: 204360126)
Verdict: North Florida Economic Developmentpartnership Inc appears trustworthy
85/100Mission Score
$624KRevenue
$567KAssets
1Red Flags
5Strengths
Red Flags
0% reported officer compensation may obscure actual executive remuneration if it's categorized elsewhere, impacting transparency.
Strengths
Consistent revenue growth, increasing from $363,641 in 2021 to $470,137 in 2023.
Strong asset accumulation, with assets growing from $380,970 in 2021 to $569,693 in 2023.
Expenses consistently lower than revenue, indicating efficient financial management (e.g., 2023 expenses $409,328 vs. revenue $470,137).
Low liabilities relative to assets, suggesting strong financial stability.
Consistent IRS 990 filing history, indicating good transparency practices.
Spending Breakdown
How North Florida Economic Developmentpartnership 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 North Florida Economic Developmentpartnership Inc
Is North Florida Economic Developmentpartnership Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, North Florida Economic Developmentpartnership Inc (EIN: 204360126) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 5 strengths noted.
Is North Florida Economic Developmentpartnership Inc a good charity to donate to?
North Florida Economic Developmentpartnership Inc has a Mission Score of 85/100. Revenue: $624K. Assets: $567K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for North Florida Economic Developmentpartnership Inc?
The Employer Identification Number (EIN) for North Florida Economic Developmentpartnership Inc is 204360126. 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 North Florida Economic Developmentpartnership Inc spend its money?
North Florida Economic Developmentpartnership Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify North Florida Economic Developmentpartnership Inc's tax-exempt status?
You can verify North Florida Economic Developmentpartnership Inc's tax-exempt status using EIN 204360126 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
North Florida Economic Developmentpartnership Inc demonstrates consistent financial growth and stability over the past several years. Revenue has shown an upward trend, increasing from $363,641 in 2021 to $470,137 in 2023, indicating growing support for its mission. The organization consistently maintains a healthy asset base, which has grown significantly from $380,970 in 2021 to $569,693 in 2023, suggesting good financial management and reserves. Liabilities are relatively low compared to assets, further reinforcing its financial health.
The organization appears to be efficient in its operations, with expenses generally staying below revenue, allowing for asset accumulation. For instance, in 2023, expenses were $409,328 against revenues of $470,137. A notable aspect of its financial management is the reported 0% officer compensation across all available filings, which suggests a volunteer-driven leadership or that compensation is reported under other categories, warranting further investigation for complete transparency. However, based on the provided data, this indicates a strong commitment to directing funds towards the organization's mission rather than executive salaries.
Overall, the organization exhibits strong financial health with consistent revenue growth, prudent asset management, and a lean approach to executive compensation. Its consistent filing history also points to good transparency practices.