Is Richard S Petty Charitable Foundation…

Quick charity verification for Richard S Petty Charitable Foundation (EIN: 10525593)

Spending Breakdown

How Richard S Petty Charitable Foundation allocates its funds across programs, administration, and fundraising.

95%

Program Spending

Healthy — majority goes to mission

Admin Costs

Reasonable — admin costs in check

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 Richard S Petty Charitable Foundation

Is Richard S Petty Charitable Foundation a legitimate charity?

Based on AI analysis of IRS 990 filings, Richard S Petty Charitable Foundation (EIN: 10525593) appears trustworthy. Mission Score: 90/100. 1 red flag identified, 4 strengths noted.

Is Richard S Petty Charitable Foundation a good charity to donate to?

Richard S Petty Charitable Foundation has a Mission Score of 90/100. Revenue: $224K. Assets: $732K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Richard S Petty Charitable Foundation?

The Employer Identification Number (EIN) for Richard S Petty Charitable Foundation is 10525593. 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 Richard S Petty Charitable Foundation spend its money?

Richard S Petty Charitable Foundation allocates 95% to programs, 5% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Richard S Petty Charitable Foundation's tax-exempt status?

You can verify Richard S Petty Charitable Foundation's tax-exempt status using EIN 10525593 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 Richard S Petty Charitable Foundation demonstrates consistent financial stability with assets of $732,398 and latest reported revenue of $223,520. The organization's spending efficiency appears strong, particularly in the most recent filing (Period 202312) where expenses were $16,101 against revenue of $40,989, indicating a significant surplus. Over the past five years, expenses have generally been well-managed relative to revenue, though there were periods like 202112 where expenses ($92,287) exceeded revenue ($75,044). The foundation's commitment to its mission is further supported by its consistent reporting of 0% officer compensation, suggesting that all funds are directed towards its charitable purpose rather than administrative salaries. This practice significantly enhances its transparency and public trust.

The foundation's asset base has seen some fluctuation over the years, decreasing from a high of $1,081,861 in 201112 to $684,686 in 202312, before the latest reported assets of $732,398. Despite this, the foundation maintains a healthy asset-to-liability ratio, with liabilities consistently reported as $0 or $1, indicating strong financial solvency and minimal debt. The consistent filing of IRS Form 990s over a decade also points to a commitment to regulatory compliance and transparency, allowing public scrutiny of its financial operations. Overall, the foundation appears to be a well-managed entity with a clear focus on its charitable objectives.

Is Richard S Petty Charitable Foundation Legit?

Verdict: Richard S Petty Charitable Foundation appears trustworthy

Red Flags

Strengths