Is Spruce Island Development Corporation Inc Legit?
Quick charity verification for Spruce Island Development Corporation Inc (EIN: 201622649)
Verdict: Spruce Island Development Corporation Inc shows mixed signals
65/100Mission Score
$1.7MRevenue
$226KAssets
3Red Flags
3Strengths
Red Flags
Highly inconsistent revenue and expense patterns, making financial planning and stability uncertain.
Low asset base relative to peak revenue periods, suggesting limited financial reserves.
Lack of detailed expense breakdown in summary data hinders full assessment of spending efficiency.
Strengths
Consistent reporting of 0% officer compensation, indicating low executive overhead.
Consistently low or zero liabilities across most recent filings, suggesting good debt management.
Regular IRS 990 filings demonstrate commitment to transparency.
Spending Breakdown
How Spruce Island Development Corporation Inc 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 Spruce Island Development Corporation Inc
Is Spruce Island Development Corporation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Spruce Island Development Corporation Inc (EIN: 201622649) shows mixed signals. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
Is Spruce Island Development Corporation Inc a good charity to donate to?
Spruce Island Development Corporation Inc has a Mission Score of 65/100. Revenue: $1.7M. Assets: $226K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Spruce Island Development Corporation Inc?
The Employer Identification Number (EIN) for Spruce Island Development Corporation Inc is 201622649. 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 Spruce Island Development Corporation Inc spend its money?
Spruce Island Development Corporation Inc allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Spruce Island Development Corporation Inc's tax-exempt status?
You can verify Spruce Island Development Corporation Inc's tax-exempt status using EIN 201622649 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
Spruce Island Development Corporation Inc. demonstrates inconsistent financial activity over its filing history, with significant fluctuations in revenue and expenses. For instance, the organization reported $526,350 in revenue and $517,396 in expenses in 202309, a stark contrast to the $100 revenue and $1,624 expenses in 202209, and zero revenue in 202109 and 201909. This volatility makes it challenging to assess long-term financial stability and operational consistency. The organization consistently reports zero liabilities across most recent filings, which is a positive indicator of financial solvency, but the low asset base relative to its highest revenue periods suggests limited reserves.
The spending efficiency is difficult to ascertain without a detailed breakdown of program, administrative, and fundraising expenses, which are not provided in the summary data. However, the consistent reporting of 0% officer compensation across all available filings suggests a lean operational structure at the executive level. The organization's NTEE code S12 (Community Development Corporations) implies a focus on community benefit, but the financial data alone doesn't provide insight into the impact or efficiency of its programs.
Transparency appears to be adequate in terms of filing its IRS 990s, with 12 filings available. However, the lack of detailed expense categories in the provided summary limits a deeper analysis of how funds are allocated. The absence of officer compensation is a notable point, indicating either a volunteer-led executive team or compensation below reporting thresholds, which could be seen as a strength in terms of minimizing overhead.