Quick charity verification for South Carolina Community Loan Fund (EIN: 10793507)
Verdict: South Carolina Community Loan Fund appears trustworthy
90/100Mission Score
$6.9MRevenue
$49.6MAssets
1Red Flags
5Strengths
Red Flags
Unusually low reported officer compensation (0%) for an organization with nearly $50 million in assets, which might warrant further investigation into compensation structures or related entities.
Strengths
Consistent and significant asset growth, from $12.57 million in 2014 to $49.61 million currently.
Strong financial health with revenues consistently exceeding expenses, as seen in 2023 where revenue was $6,646,393 and expenses were $4,392,494.
No reported officer compensation across all available filings, suggesting resources are directed towards programs.
Steady increase in revenue over the past decade, indicating strong fundraising or earned income capabilities.
Healthy balance sheet with growing assets and manageable liabilities, supporting long-term sustainability.
Spending Breakdown
How South Carolina Community Loan Fund allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
15%
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 South Carolina Community Loan Fund
Is South Carolina Community Loan Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, South Carolina Community Loan Fund (EIN: 10793507) appears trustworthy. Mission Score: 90/100. 1 red flag identified, 5 strengths noted.
Is South Carolina Community Loan Fund a good charity to donate to?
South Carolina Community Loan Fund has a Mission Score of 90/100. Revenue: $6.9M. Assets: $49.6M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for South Carolina Community Loan Fund?
The Employer Identification Number (EIN) for South Carolina Community Loan Fund is 10793507. 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 South Carolina Community Loan Fund spend its money?
South Carolina Community Loan Fund allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify South Carolina Community Loan Fund's tax-exempt status?
You can verify South Carolina Community Loan Fund's tax-exempt status using EIN 10793507 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 South Carolina Community Loan Fund demonstrates strong financial health and growth, with assets increasing from $12.57 million in 2014 to $49.61 million currently. The organization consistently maintains a positive net income, as seen in 2023 where revenue of $6,646,393 significantly exceeded expenses of $4,392,494. This indicates effective financial management and sustainability. Their NTEE code L99 suggests a focus on community development financial institutions, aligning with their mission to provide loans.
The organization's spending efficiency appears robust, with a healthy margin between revenue and expenses across multiple years. For instance, in 2023, only 66% of revenue was spent on expenses, leaving a substantial surplus for reinvestment or future programs. The consistent growth in assets and revenue over the past decade further underscores their operational effectiveness and ability to attract funding. The absence of reported officer compensation in all available filings is a notable aspect of their transparency and resource allocation.
While specific program spending percentages are not detailed in the provided data, the overall financial trends suggest a well-managed organization. The consistent growth in assets and the positive revenue-to-expense ratio indicate a strong capacity to deliver on its mission. The lack of reported officer compensation across all filings enhances their transparency profile, suggesting that resources are primarily directed towards organizational activities rather than high executive salaries.