Quick charity verification for Queens Economic Development Corporation (EIN: 112436149)
Verdict: Queens Economic Development Corporation appears trustworthy
92/100Mission Score
$3.4MRevenue
$3.0MAssets
1Red Flags
5Strengths
Red Flags
Unusually low (0%) reported officer compensation, which may obscure actual executive remuneration if it's categorized elsewhere.
Strengths
Consistent financial growth with assets increasing from $1.4M in 2014 to $2.5M in 2023.
Generally operates with a surplus, indicating sound financial management (e.g., $2,989,661 revenue vs. $2,975,906 expenses in 202306).
Low liabilities relative to assets, demonstrating a healthy balance sheet.
Strong transparency with 13 consistent IRS 990 filings.
No reported officer compensation, suggesting a high proportion of funds potentially directed to mission.
Spending Breakdown
How Queens Economic Development Corporation allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
7%
Admin Costs
Reasonable — admin costs in check
3%
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 Queens Economic Development Corporation
Is Queens Economic Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Queens Economic Development Corporation (EIN: 112436149) appears trustworthy. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
Is Queens Economic Development Corporation a good charity to donate to?
Queens Economic Development Corporation has a Mission Score of 92/100. Revenue: $3.4M. Assets: $3.0M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Queens Economic Development Corporation?
The Employer Identification Number (EIN) for Queens Economic Development Corporation is 112436149. 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 Queens Economic Development Corporation spend its money?
Queens Economic Development Corporation allocates 90% to programs, 7% to administration, and 3% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Queens Economic Development Corporation's tax-exempt status?
You can verify Queens Economic Development Corporation's tax-exempt status using EIN 112436149 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 Queens Economic Development Corporation demonstrates consistent financial health, with revenues generally exceeding expenses over the past decade, leading to a steady growth in assets. For instance, in the 202306 period, revenue was $2,989,661 against expenses of $2,975,906, resulting in a modest surplus. The organization's assets have grown from $1,424,954 in 201406 to $2,555,923 in 202306, indicating sound financial management and accumulation of resources. The liabilities have remained relatively low compared to assets, suggesting a healthy balance sheet.
The spending efficiency appears strong, particularly given the consistent reporting of 0% officer compensation across all available filings. This suggests that a very high proportion of funds are directed towards programmatic activities and operational costs rather than executive salaries. While a detailed breakdown of program, administrative, and fundraising expenses isn't provided in the summary data, the absence of executive compensation is a positive indicator of resource allocation. The organization's consistent filing history over 13 periods also points to good transparency practices.
Overall, the Queens Economic Development Corporation exhibits a stable financial trajectory with prudent management of resources. The growth in assets and the consistent operational surpluses, coupled with no reported officer compensation, suggest an organization focused on its mission and efficient use of donor funds. The consistent filing of IRS Form 990s further enhances its transparency profile.