Quick charity verification for Open Minds Inc (EIN: 202395601)
Verdict: Open Minds Inc appears trustworthy
85/100Mission Score
$157KRevenue
$311KAssets
2Red Flags
5Strengths
Red Flags
Lack of detailed expense breakdown (program, admin, fundraising) in provided data
No reported officer compensation, which, while positive, can sometimes indicate a lack of transparency if executives are compensated through other means not categorized as 'officer compensation'
Strengths
Consistent financial stability with stable revenue
Significant asset growth from $1,920 in 2017 to $311,116 in 2021
Zero reported liabilities across all 12 filings
0% officer compensation reported, indicating high dedication of funds to mission
Expenses consistently managed below or near revenue, leading to surpluses
Spending Breakdown
How Open Minds Inc allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
15%
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 Open Minds Inc
Is Open Minds Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Open Minds Inc (EIN: 202395601) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 5 strengths noted.
Is Open Minds Inc a good charity to donate to?
Open Minds Inc has a Mission Score of 85/100. Revenue: $157K. Assets: $311K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Open Minds Inc?
The Employer Identification Number (EIN) for Open Minds Inc is 202395601. 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 Open Minds Inc spend its money?
Open Minds Inc allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Open Minds Inc's tax-exempt status?
You can verify Open Minds Inc's tax-exempt status using EIN 202395601 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
Open Minds Inc. demonstrates consistent financial stability with a healthy asset base and no reported liabilities across all available filings. In 2021, the organization reported revenue of $156,912 against expenses of $135,185, resulting in a surplus that contributed to its $311,116 in assets. This trend of managing expenses below or near revenue is generally positive, indicating fiscal prudence. The organization's NTEE code P20 suggests a focus on mental health and crisis intervention, which aligns with a mission-driven approach.
The absence of reported officer compensation across all 12 filings is a significant indicator of transparency and a commitment to directing funds towards programs rather than executive salaries. This practice is highly commendable for a nonprofit of its size. While specific program spending details are not provided in the summary data, the overall financial health, lack of liabilities, and zero officer compensation suggest a well-managed and potentially efficient operation.
However, without a detailed breakdown of expenses (program, administrative, fundraising), it's challenging to fully assess spending efficiency. The consistent revenue around $150,000-$180,000 over the past decade indicates a stable, albeit not rapidly growing, funding base. The substantial increase in assets from $1,920 in 2017 to $311,116 in 2021, while liabilities remained at $0, is a strong positive trend, suggesting effective financial management and accumulation of reserves.