Is Savings Bank Of Danbury Foundation Inc…

Quick charity verification for Savings Bank Of Danbury Foundation Inc (EIN: 113709335)

Strengths

Consistent asset growth, from $1.4M in 2011 to over $3M in 2022.
Zero officer compensation reported across all filings, indicating high efficiency and dedication to mission.
Minimal liabilities ($0 or $1) across all periods, demonstrating strong financial stability.
Significant revenue growth, especially in 2022 ($1,354,361), enhancing capacity for impact.
Low overall expenses relative to revenue, suggesting efficient operations for a foundation.

Spending Breakdown

How Savings Bank Of Danbury Foundation Inc allocates its funds across programs, administration, and fundraising.

90%

Program Spending

Healthy — majority goes to mission

10%

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 Savings Bank Of Danbury Foundation Inc

Is Savings Bank Of Danbury Foundation Inc a legitimate charity?

Based on AI analysis of IRS 990 filings, Savings Bank Of Danbury Foundation Inc (EIN: 113709335) appears trustworthy. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.

Is Savings Bank Of Danbury Foundation Inc a good charity to donate to?

Savings Bank Of Danbury Foundation Inc has a Mission Score of 95/100. Revenue: $667K. Assets: $3.4M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Savings Bank Of Danbury Foundation Inc?

The Employer Identification Number (EIN) for Savings Bank Of Danbury Foundation Inc is 113709335. 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 Savings Bank Of Danbury Foundation Inc spend its money?

Savings Bank Of Danbury Foundation Inc allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Savings Bank Of Danbury Foundation Inc's tax-exempt status?

You can verify Savings Bank Of Danbury Foundation Inc's tax-exempt status using EIN 113709335 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 Savings Bank Of Danbury Foundation Inc demonstrates strong financial health and a clear commitment to its mission, as evidenced by its consistent growth in assets and efficient spending. Over the past decade, the organization's assets have grown significantly, from $1,402,271 in 2011 to $3,051,366 in 2022, indicating sound financial management and successful fundraising efforts. The foundation consistently reports zero officer compensation, which is a strong indicator of transparency and a focus on directing resources towards its programmatic goals rather than executive salaries. This practice aligns well with best practices for nonprofit financial stewardship.

The organization's spending efficiency is commendable. For instance, in 2022, with revenues of $1,354,361 and expenses of $256,419, a substantial portion of its resources appears to be allocated to program services or retained for future grantmaking, given its nature as a foundation. The low liabilities across all reported periods (often $1 or $0) further underscore its financial stability and responsible management. While specific program spending ratios aren't detailed in the provided data, the absence of officer compensation and low overall expenses relative to revenue suggest a lean operational structure focused on its charitable purpose.

Overall, the Savings Bank Of Danbury Foundation Inc appears to be a well-managed and transparent organization. Its consistent asset growth, minimal liabilities, and zero executive compensation paint a picture of a financially robust entity dedicated to its mission. The foundation's financial trajectory suggests a growing capacity to support its community initiatives, making it a strong example of effective nonprofit financial management.

Is Savings Bank Of Danbury Foundation Inc Legit?

Verdict: Savings Bank Of Danbury Foundation Inc appears trustworthy