Is Southwest Brooklyn Industrial Development Corporation Legit?
Quick charity verification for Southwest Brooklyn Industrial Development Corporation (EIN: 112508370)
Verdict: Southwest Brooklyn Industrial Development Corporation appears trustworthy
90/100Mission Score
$2.1MRevenue
$1.6MAssets
2Red Flags
4Strengths
Red Flags
Reported 0% officer compensation across all filings, which is unusual for an organization of this scale and may indicate compensation is categorized differently or leadership is entirely volunteer-based, requiring clarification for full transparency.
Significant revenue volatility observed in 2020, with a sharp drop to $58,415 in 202006 after a $1,025,571 revenue in 202005, which could indicate inconsistent funding or reporting issues.
Strengths
Consistent financial surpluses in recent years, such as $72,557 in 202306 and $140,799 in 202206, demonstrating sound financial management.
Growing asset base, increasing from $337,844 in 201505 to $675,859 in 202306, indicating financial stability and resource accumulation.
Strong program focus implied by the absence of reported officer compensation, suggesting funds are directed towards mission-related activities.
Regular and consistent IRS 990 filing history (14 filings), indicating good compliance and transparency.
Spending Breakdown
How Southwest Brooklyn Industrial Development 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 Southwest Brooklyn Industrial Development Corporation
Is Southwest Brooklyn Industrial Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Southwest Brooklyn Industrial Development Corporation (EIN: 112508370) appears trustworthy. Mission Score: 90/100. 2 red flags identified, 4 strengths noted.
Is Southwest Brooklyn Industrial Development Corporation a good charity to donate to?
Southwest Brooklyn Industrial Development Corporation has a Mission Score of 90/100. Revenue: $2.1M. Assets: $1.6M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Southwest Brooklyn Industrial Development Corporation?
The Employer Identification Number (EIN) for Southwest Brooklyn Industrial Development Corporation is 112508370. 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 Southwest Brooklyn Industrial Development Corporation spend its money?
Southwest Brooklyn Industrial Development Corporation allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Southwest Brooklyn Industrial Development Corporation's tax-exempt status?
You can verify Southwest Brooklyn Industrial Development Corporation's tax-exempt status using EIN 112508370 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
Southwest Brooklyn Industrial Development Corporation demonstrates consistent financial activity, with revenues generally exceeding expenses in recent years, indicating sound operational management. For example, in 202306, revenue was $1,111,462 against expenses of $1,038,905, resulting in a surplus. The organization's assets have shown growth, increasing from $337,844 in 201505 to $675,859 in 202306, suggesting a healthy accumulation of resources. The consistent reporting of 0% officer compensation across all available filings is a significant indicator of transparency and a commitment to directing funds towards its mission rather than executive salaries. This practice, coupled with regular filings, points to a well-managed and transparent financial operation.