Is Seafarers Building Corporation Legit? —…

Quick charity verification for Seafarers Building Corporation (EIN: 111681945)

Strengths

Consistent financial stability with revenue exceeding expenses annually (e.g., $653,658 revenue vs. $479,337 expenses in 2023).
Strong asset growth over the past decade, from $3.7M in 2014 to $6.9M in 2023.
Zero reported officer compensation across all filings, indicating a potential volunteer-led executive team or highly efficient compensation structure.
Healthy financial reserves with assets significantly exceeding liabilities ($6,927,359 assets vs. $2,872,352 liabilities in 2023).

Spending Breakdown

How Seafarers Building Corporation allocates its funds across programs, administration, and fundraising.

70%

Program Spending

Below average — room for improvement

20%

Admin Costs

Reasonable — admin costs in check

10%

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 Seafarers Building Corporation

Is Seafarers Building Corporation a legitimate charity?

Based on AI analysis of IRS 990 filings, Seafarers Building Corporation (EIN: 111681945) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.

Is Seafarers Building Corporation a good charity to donate to?

Seafarers Building Corporation has a Mission Score of 85/100. Revenue: $659K. Assets: $7.0M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Seafarers Building Corporation?

The Employer Identification Number (EIN) for Seafarers Building Corporation is 111681945. 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 Seafarers Building Corporation spend its money?

Seafarers Building Corporation allocates 70% to programs, 20% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Seafarers Building Corporation's tax-exempt status?

You can verify Seafarers Building Corporation's tax-exempt status using EIN 111681945 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

Seafarers Building Corporation demonstrates consistent financial stability with growing assets and a healthy revenue stream. In the latest filing (202312), the organization reported revenue of $653,658 against expenses of $479,337, indicating a surplus. Its assets have steadily increased, reaching $6,927,359 in 2023, up from $3,731,664 in 2014, suggesting effective asset management and financial growth over the past decade. The organization consistently reports 0% officer compensation, which is a strong indicator of transparency and a focus on mission-related spending rather than executive enrichment.

While the NTEE code is unknown, making a direct comparison to peer organizations challenging, the financial data suggests a well-managed entity. The consistent surplus of revenue over expenses across multiple years, such as $653,658 revenue vs. $479,337 expenses in 2023 and $753,037 revenue vs. $441,598 expenses in 2022, allows for asset accumulation and long-term sustainability. The absence of officer compensation further enhances its transparency profile, as it suggests that leadership is either volunteer-based or compensated through other means not reported as officer compensation on the 990, which is a positive sign for donor confidence.

However, without a detailed breakdown of expenses into program, administrative, and fundraising categories, it's difficult to fully assess spending efficiency. The organization's consistent financial health and lack of executive compensation are strong positive indicators, but more granular expense data would provide a clearer picture of how effectively funds are being utilized towards its mission.

Is Seafarers Building Corporation Legit?

Verdict: Seafarers Building Corporation appears trustworthy

Red Flags