Is Renaissance Economic Development Corporation Legit?
Quick charity verification for Renaissance Economic Development Corporation (EIN: 133946529)
Verdict: Renaissance Economic Development Corporation appears trustworthy
85/100Mission Score
$6.1MRevenue
$33.7MAssets
2Red Flags
3Strengths
Red Flags
Operating deficit in 2023 ($4.1M revenue vs. $5.1M expenses)
Declining revenue trend since 2020 peak ($6.6M in 2020 to $4.1M in 2023)
Strengths
Consistent reporting of 0% officer compensation, indicating strong fiscal discipline at the executive level.
Substantial and stable asset base ($33.7M latest, $32.5M in 2023) providing financial resilience.
Long history of IRS 990 filings (14 filings), suggesting transparency and established operations.
Spending Breakdown
How Renaissance Economic Development Corporation 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 Renaissance Economic Development Corporation
Is Renaissance Economic Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Renaissance Economic Development Corporation (EIN: 133946529) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
Is Renaissance Economic Development Corporation a good charity to donate to?
Renaissance Economic Development Corporation has a Mission Score of 85/100. Revenue: $6.1M. Assets: $33.7M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Renaissance Economic Development Corporation?
The Employer Identification Number (EIN) for Renaissance Economic Development Corporation is 133946529. 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 Renaissance Economic Development Corporation spend its money?
Renaissance Economic Development Corporation allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Renaissance Economic Development Corporation's tax-exempt status?
You can verify Renaissance Economic Development Corporation's tax-exempt status using EIN 133946529 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
Renaissance Economic Development Corporation demonstrates a generally stable financial position with assets consistently in the range of $20M-$35M over the past decade, reaching $32.5M in 2023. The organization's revenue has fluctuated, with a notable peak of $6.6M in 2020, but has trended downwards to $4.1M in 2023, while expenses have shown an increasing trend, surpassing revenue in 2023 ($5.1M expenses vs. $4.1M revenue). This indicates a recent operating deficit, which warrants monitoring. The organization's NTEE code S30 (Community Development Financial Institutions) suggests a focus on financial services for underserved communities, which often involves loan programs and financial intermediation, explaining the significant asset base and liabilities. The consistent reporting of 0% officer compensation across all available filings is a strong indicator of transparency and efficient use of funds, as it suggests that executive leadership is either unpaid or compensated through other means not categorized as officer compensation on the 990, or that the organization is structured to minimize top-heavy salaries. However, without a detailed breakdown of program, administrative, and fundraising expenses, a precise assessment of spending efficiency is challenging.