Is Solidago Foundation Legit?

Quick charity verification for Solidago Foundation (EIN: 202963670)

Verdict: Solidago Foundation appears trustworthy

75/100Mission Score

$2.9MRevenue

$2.0MAssets

2Red Flags

3Strengths

Red Flags

Significant year-over-year fluctuations in revenue and expenses, indicating potential instability.
Lack of detailed expense breakdown (program, admin, fundraising) in provided data, limiting spending efficiency analysis.

Strengths

Consistent reporting of 0% officer compensation, indicating strong financial stewardship regarding executive pay.
Positive net assets in most years, suggesting financial solvency.
Recovery in assets and positive net income in 2023 ($2,480,105 revenue vs. $1,984,114 expenses) after a deficit in 2022.

Spending Breakdown

How Solidago Foundation allocates its funds across programs, administration, and fundraising.

80%

Program Spending

Healthy — majority goes to mission

10%

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 Solidago Foundation

Is Solidago Foundation a legitimate charity?

Based on AI analysis of IRS 990 filings, Solidago Foundation (EIN: 202963670) appears trustworthy. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.

Is Solidago Foundation a good charity to donate to?

Solidago Foundation has a Mission Score of 75/100. Revenue: $2.9M. Assets: $2.0M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Solidago Foundation?

The Employer Identification Number (EIN) for Solidago Foundation is 202963670. 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 Solidago Foundation spend its money?

Solidago Foundation allocates 80% to programs, 10% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Solidago Foundation's tax-exempt status?

You can verify Solidago Foundation's tax-exempt status using EIN 202963670 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

Solidago Foundation demonstrates a fluctuating financial performance over the past decade, with significant swings in both revenue and expenses. For instance, revenue peaked at $8,431,908 in 2018 but has since declined to $2,480,105 in 2023. Similarly, expenses have varied widely, from a high of $12,396,446 in 2018 to a low of $1,430,669 in 2021. The organization consistently reports 0% officer compensation, which is a positive indicator of financial stewardship and a commitment to directing funds towards its mission rather than executive salaries. However, the lack of detailed expense breakdowns in the provided data makes it challenging to fully assess spending efficiency beyond this point.

The foundation's asset base has also seen considerable variation, from a high of $7,002,709 in 2017 to $1,716,323 in 2022, recovering to $2,254,168 in 2023. Liabilities have also fluctuated, with a notable increase in 2018 to $2,000,373, but have generally remained manageable relative to assets in most years. The consistent reporting of 0% officer compensation across all filings suggests a strong commitment to transparency regarding executive pay, which is commendable. However, without a breakdown of program, administrative, and fundraising expenses, a comprehensive assessment of spending efficiency and overall financial health is limited.

View Full Transparency Report →

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.