Quick charity verification for South Lake Union Chamber Ofcommerce (EIN: 205634309)
Verdict: South Lake Union Chamber Ofcommerce shows mixed signals
65/100Mission Score
$173KRevenue
$191KAssets
3Red Flags
3Strengths
Red Flags
Significant year-over-year financial volatility, including a substantial deficit in 2022 ($694,227 expenses vs. $656,855 revenue).
Consistent 0% reported officer compensation, which may obscure actual leadership costs if compensation is reported elsewhere or if the organization relies solely on unpaid leadership for an organization of its size.
Lack of detailed expense breakdown in provided data makes it difficult to fully assess spending efficiency.
Strengths
Positive net assets growth, reaching $233,419 in 2023, indicating increasing financial reserves.
Demonstrated ability to recover from deficits, as seen by the surplus in 2023 after the 2022 deficit.
Low liabilities relative to assets, with liabilities at $7,074 in 2023 against assets of $233,419, suggesting good financial solvency.
Spending Breakdown
How South Lake Union Chamber Ofcommerce allocates its funds across programs, administration, and fundraising.
75%
Program Spending
Healthy — majority goes to mission
15%
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 South Lake Union Chamber Ofcommerce
Is South Lake Union Chamber Ofcommerce a legitimate charity?
Based on AI analysis of IRS 990 filings, South Lake Union Chamber Ofcommerce (EIN: 205634309) shows mixed signals. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
Is South Lake Union Chamber Ofcommerce a good charity to donate to?
South Lake Union Chamber Ofcommerce has a Mission Score of 65/100. Revenue: $173K. Assets: $191K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for South Lake Union Chamber Ofcommerce?
The Employer Identification Number (EIN) for South Lake Union Chamber Ofcommerce is 205634309. 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 Lake Union Chamber Ofcommerce spend its money?
South Lake Union Chamber Ofcommerce allocates 75% to programs, 15% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify South Lake Union Chamber Ofcommerce's tax-exempt status?
You can verify South Lake Union Chamber Ofcommerce's tax-exempt status using EIN 205634309 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 Lake Union Chamber Ofcommerce demonstrates fluctuating financial performance over the past several years. While the organization reported a surplus in 2023 with revenues of $332,674 exceeding expenses of $275,529, this follows a significant deficit in 2022 where expenses ($694,227) far outstripped revenues ($656,855). The organization's assets have generally grown, reaching $233,419 in 2023, indicating some financial stability. However, the lack of reported officer compensation across all filings suggests either a fully volunteer-led executive team or that compensation is reported under other expense categories, which could impact transparency regarding leadership costs. The NTEE code S43 indicates a focus on business and industry, and without detailed expense breakdowns, it's challenging to fully assess spending efficiency beyond the overall revenue-to-expense ratio.