Quick charity verification for Socrates Foundation (EIN: 222620092)
Verdict: Socrates Foundation appears trustworthy
75/100Mission Score
$187KRevenue
$1.1MAssets
1Red Flags
3Strengths
Red Flags
Revenue has shown a declining trend from $143,106 in 2021 to $58,731 in 2023, which warrants further investigation into funding sources.
Strengths
The organization consistently maintains low liabilities (e.g., $1 in 2023), indicating strong financial stability.
Assets have remained relatively stable over the years, demonstrating good asset management despite revenue fluctuations.
The organization has a long history of filings, suggesting consistent operation and commitment to transparency.
Spending Breakdown
How Socrates Foundation allocates its funds across programs, administration, and fundraising.
70%
Program Spending
Below average — room for improvement
15%
Admin Costs
Reasonable — admin costs in check
15%
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 Socrates Foundation
Is Socrates Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Socrates Foundation (EIN: 222620092) appears trustworthy. Mission Score: 75/100. 1 red flag identified, 3 strengths noted.
Is Socrates Foundation a good charity to donate to?
Socrates Foundation has a Mission Score of 75/100. Revenue: $187K. Assets: $1.1M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Socrates Foundation?
The Employer Identification Number (EIN) for Socrates Foundation is 222620092. 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 Socrates Foundation spend its money?
Socrates Foundation allocates 70% to programs, 15% to administration, and 15% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Socrates Foundation's tax-exempt status?
You can verify Socrates Foundation's tax-exempt status using EIN 222620092 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
Socrates Foundation is a unknown nonprofit based in Wheatland, Wyoming, with reported revenue of $187K and assets of $1.1M. Our AI analysis assigns a Mission Score of 75/100 (Good). Approximately 70% of spending goes to programs, 15% to administration, and 15% to fundraising. Executive compensation is not explicitly detailed in the provided data, but given the modest revenue and expense figures, it is likely to be reasonable and in line with similar small nonprofits.