Significant year-over-year revenue volatility, particularly the drop from over $1M in 2019-2020 to $38,014 in 2022, requires further investigation to understand sustainability.
Discrepancy between 'Latest Revenue' ($6,154,928) and the most recent filing's revenue ($38,014) needs clarification for a complete financial picture.
Strengths
Consistently low operational expenses relative to assets and historical revenue, indicating strong cost control.
Zero reported officer compensation across all filings, demonstrating high efficiency and potentially volunteer leadership.
Substantial and growing asset base ($14,820,274), providing a strong financial foundation for its mission.
Low liabilities compared to assets, indicating financial stability and minimal debt burden.
Spending Breakdown
How Solimine Charitable Corporation allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
5%
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 Solimine Charitable Corporation
Is Solimine Charitable Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Solimine Charitable Corporation (EIN: 200478181) appears trustworthy. Mission Score: 90/100. 2 red flags identified, 4 strengths noted.
Is Solimine Charitable Corporation a good charity to donate to?
Solimine Charitable Corporation has a Mission Score of 90/100. Revenue: $6.2M. Assets: $14.8M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Solimine Charitable Corporation?
The Employer Identification Number (EIN) for Solimine Charitable Corporation is 200478181. 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 Solimine Charitable Corporation spend its money?
Solimine Charitable Corporation allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Solimine Charitable Corporation's tax-exempt status?
You can verify Solimine Charitable Corporation's tax-exempt status using EIN 200478181 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
Solimine Charitable Corporation demonstrates a strong financial position with substantial assets of $14,820,274, significantly exceeding its latest reported liabilities. The organization's revenue has fluctuated over the years, with a notable peak in 2020 and 2019 around $1.1 million, but a sharp decline to $38,014 in 2022. Despite these revenue fluctuations, expenses have remained relatively low and stable, ranging from $27,120 to $83,258 annually, indicating efficient operational cost management. The consistent reporting of 0% officer compensation across all filings suggests a volunteer-driven leadership or that compensation is covered by another entity, which enhances its financial efficiency and transparency regarding executive pay. However, the significant disparity between the latest reported revenue of $6,154,928 and the 2022 period revenue of $38,014 requires clarification to fully understand the organization's current financial activity and funding sources. The NTEE code T30 (Philanthropy, Voluntarism, and Grantmaking Foundations) aligns with its operational pattern of managing assets and making grants, rather than direct program delivery with high associated costs.