Is Old Bug Light Charitable Foundation…

Quick charity verification for Old Bug Light Charitable Foundation (EIN: 10514859)

Red Flags

Consistent operational deficits in recent years (e.g., 202403: $48,340 revenue vs. $182,596 expenses; 202303: negative revenue vs. $236,404 expenses).
Significant revenue volatility, with a large outlier in 202203 ($1,873,393) suggesting reliance on infrequent major contributions.
Negative revenue reported in 202303, which is an unusual and concerning financial event.
Lack of detailed expense breakdown (program, admin, fundraising) in the provided summary makes efficiency analysis difficult.

Strengths

Maintains a healthy asset base ($2,328,281 latest assets), providing a buffer against operational shortfalls.
No reported officer compensation across all filings, indicating a potentially volunteer-driven leadership and efficient use of funds at the executive level.
Consistent filing of IRS Form 990s over a decade demonstrates a commitment to transparency and regulatory compliance.
Very low reported liabilities ($1 in most years), suggesting minimal debt burden.

Spending Breakdown

How Old Bug Light Charitable Foundation allocates its funds across programs, administration, and fundraising.

70%

Program Spending

Below average — room for improvement

20%

Admin Costs

Reasonable — admin costs in check

10%

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 Old Bug Light Charitable Foundation

Is Old Bug Light Charitable Foundation a legitimate charity?

Based on AI analysis of IRS 990 filings, Old Bug Light Charitable Foundation (EIN: 10514859) shows mixed signals. Mission Score: 65/100. 4 red flags identified, 4 strengths noted.

Is Old Bug Light Charitable Foundation a good charity to donate to?

Old Bug Light Charitable Foundation has a Mission Score of 65/100. Revenue: $1.6M. Assets: $2.3M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Old Bug Light Charitable Foundation?

The Employer Identification Number (EIN) for Old Bug Light Charitable Foundation is 10514859. 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 Old Bug Light Charitable Foundation spend its money?

Old Bug Light Charitable Foundation allocates 70% to programs, 20% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Old Bug Light Charitable Foundation's tax-exempt status?

You can verify Old Bug Light Charitable Foundation's tax-exempt status using EIN 10514859 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 Old Bug Light Charitable Foundation exhibits a mixed financial picture. While the organization maintains a healthy asset base, with current assets at $2,328,281, its recent operational performance shows significant deficits. In the 202403 period, the foundation reported revenue of $48,340 against expenses of $182,596, resulting in a net loss. This trend is also evident in the 202303 period, with negative revenue of $-17,218 and expenses of $236,404. The substantial revenue in 202203 ($1,873,393) appears to be an outlier, suggesting reliance on infrequent large contributions rather than consistent operational income.

The organization's spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses. However, the consistent expenses around $180,000-$230,000 in most years, even with fluctuating revenue, indicates a stable cost structure. The absence of reported officer compensation across all filings suggests a volunteer-led or very lean executive structure, which can be a positive indicator of resource allocation. The consistent reporting of $1 in liabilities (except for 201203) is unusual and might warrant further investigation into accounting practices or simply represent a nominal placeholder.

In terms of transparency, the consistent filing of IRS Form 990s over a decade demonstrates a commitment to public disclosure. The lack of officer compensation is a transparent aspect, indicating that leadership is not drawing a salary from the organization. However, without more granular expense data within the 990s (e.g., specific program service accomplishments and related expenses), a complete picture of how funds are utilized for their mission is challenging to ascertain. The significant fluctuations in revenue, particularly the negative revenue in 202303, could raise questions about financial stability and donor reporting.

Is Old Bug Light Charitable Foundation Legit?

Verdict: Old Bug Light Charitable Foundation shows mixed signals