Quick charity verification for Petset (EIN: 200800623)
Verdict: Petset appears trustworthy
92/100Mission Score
$3.2MRevenue
$1.2MAssets
1Red Flags
4Strengths
Red Flags
Deficit spending in 2022 ($2,366,756 revenue vs. $2,654,032 expenses)
Strengths
Consistent revenue growth over the past decade (e.g., $122,908 in 2015 to $2,851,000 in 2023)
No reported officer compensation across all filings, indicating high efficiency
Strong asset growth, enhancing long-term stability (e.g., $36,962 in 2014 to $1,760,169 in 2023)
Positive financial surplus in the latest reporting period (202312: $2,851,000 revenue vs. $2,663,882 expenses)
Spending Breakdown
How Petset allocates its funds across programs, administration, and fundraising.
88%
Program Spending
Healthy — majority goes to mission
7%
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 Petset
Is Petset a legitimate charity?
Based on AI analysis of IRS 990 filings, Petset (EIN: 200800623) appears trustworthy. Mission Score: 92/100. 1 red flag identified, 4 strengths noted.
Is Petset a good charity to donate to?
Petset has a Mission Score of 92/100. Revenue: $3.2M. Assets: $1.2M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Petset?
The Employer Identification Number (EIN) for Petset is 200800623. 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 Petset spend its money?
Petset allocates 88% to programs, 7% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Petset's tax-exempt status?
You can verify Petset's tax-exempt status using EIN 200800623 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
Petset demonstrates a generally healthy financial trajectory, with significant revenue growth over the past decade, from $122,908 in 2015 to $2,851,000 in 2023. While the organization experienced a deficit in 2022, with expenses exceeding revenue by nearly $300,000, it rebounded strongly in 2023, generating a surplus of approximately $187,000. The organization's assets have also grown substantially, indicating increasing capacity and stability.
Petset appears to maintain strong spending efficiency, consistently directing a high percentage of its expenses towards program services. The absence of reported officer compensation across all available filings suggests a volunteer-led or very lean executive structure, which can contribute to lower administrative overhead. This commitment to program spending, coupled with consistent growth, points to a well-managed organization focused on its mission.
Transparency is high given the consistent filing of IRS Form 990s and the clear reporting of financial metrics. The lack of reported officer compensation is a notable positive for transparency and efficiency, as it indicates that a greater proportion of funds are directly applied to charitable activities rather than executive salaries. The organization's financial health, efficient spending, and clear reporting make it a strong candidate for donor confidence.