Quick charity verification for Salem First Corporation (EIN: 20478507)
Verdict: Salem First Corporation has notable concerns
20/100Mission Score
$1Revenue
$20KAssets
4Red Flags
3Strengths
Red Flags
Extremely low and inconsistent revenue, often $1, suggesting dormancy or minimal operations.
Declining asset base over the past decade without significant new income.
Frequent periods of zero reported expenses, raising questions about active program delivery.
Negative revenue reported in 2013 (-$241), indicating financial instability in that period.
Strengths
Consistent filing of IRS 990 forms, demonstrating compliance and transparency.
Zero officer compensation reported across all filings, indicating no personal financial benefit to leadership.
Very low liabilities, typically $0 or $1, suggesting minimal debt burden.
Spending Breakdown
How Salem First Corporation allocates its funds across programs, administration, and fundraising.
0%
Program Spending
Concerning — less than half to programs
100%
Admin Costs
High — over 25% on administration
0%
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 Salem First Corporation
Is Salem First Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Salem First Corporation (EIN: 20478507) has notable concerns. Mission Score: 20/100. 4 red flags identified, 3 strengths noted.
Is Salem First Corporation a good charity to donate to?
Salem First Corporation has a Mission Score of 20/100. Revenue: $1. Assets: $20K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Salem First Corporation?
The Employer Identification Number (EIN) for Salem First Corporation is 20478507. 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 Salem First Corporation spend its money?
Salem First Corporation allocates 0% to programs, 100% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Salem First Corporation's tax-exempt status?
You can verify Salem First Corporation's tax-exempt status using EIN 20478507 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
Salem First Corporation exhibits extremely low financial activity, with reported revenues consistently under $2,500 and often near $1 across its filing history. For instance, in 2023, revenue was $251 and expenses were $0, while in 2021, revenue was $1 and expenses were $100. This minimal financial footprint makes a traditional assessment of spending efficiency challenging, as the organization's operations appear to be on a very small scale, or potentially dormant. The organization consistently reports zero officer compensation, which is a positive indicator for resource allocation, but the overall lack of significant program expenses raises questions about its active charitable impact. The organization's assets have also shown a gradual decline over time, from $24,905 in 2012 to $19,929 currently, suggesting a slow depletion of resources without substantial new income. Given the minimal financial activity, transparency is maintained through consistent filings, but the impact of its operations remains unclear.