Quick charity verification for Summit Area Economic Growth Inc (EIN: 201541314)
Verdict: Summit Area Economic Growth Inc appears trustworthy
85/100Mission Score
$0Revenue
$0Assets
2Red Flags
5Strengths
Red Flags
Significant fluctuation in annual revenue, potentially indicating inconsistent funding sources or project-based income.
Small scale of operations with limited financial data beyond basic revenue/expense, making detailed program impact assessment difficult.
Strengths
Zero officer compensation, indicating a highly efficient and potentially volunteer-driven model.
Consistent positive net income in recent years (e.g., $6,475 surplus in 2022), contributing to asset growth.
Zero liabilities reported across all filings, demonstrating strong financial health and no debt burden.
Consistent growth in assets, reaching $79,671 in 2022, indicating financial stability and resource accumulation.
Regular IRS 990 filings demonstrate a commitment to transparency.
Spending Breakdown
How Summit Area Economic Growth Inc allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
0%
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 Summit Area Economic Growth Inc
Is Summit Area Economic Growth Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Summit Area Economic Growth Inc (EIN: 201541314) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 5 strengths noted.
Is Summit Area Economic Growth Inc a good charity to donate to?
Summit Area Economic Growth Inc has a Mission Score of 85/100. Revenue: $0. Assets: $0. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Summit Area Economic Growth Inc?
The Employer Identification Number (EIN) for Summit Area Economic Growth Inc is 201541314. 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 Summit Area Economic Growth Inc spend its money?
Summit Area Economic Growth Inc allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Summit Area Economic Growth Inc's tax-exempt status?
You can verify Summit Area Economic Growth Inc's tax-exempt status using EIN 201541314 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
Summit Area Economic Growth Inc appears to be a small, community-focused organization with fluctuating but generally modest financial activity. In 2022, the organization reported revenue of $20,478 and expenses of $14,003, resulting in a surplus. This follows a trend of positive net income in recent years, with 2021 showing revenue of $56,656 against expenses of $34,523. The organization consistently reports zero liabilities and no officer compensation, which suggests a lean operational structure and a focus on direct program delivery without significant overhead for executive salaries. Their assets have shown growth over time, reaching $79,671 in 2022, indicating financial stability and accumulation of resources. The absence of officer compensation also points to a high degree of transparency regarding executive pay, as there is none to report.
While specific program spending details are not provided in the summary data, the consistent lack of officer compensation and liabilities suggests that a significant portion of their expenses likely goes towards their mission. The organization's financial health appears stable, with assets consistently exceeding liabilities. However, the relatively small scale of operations and revenue fluctuations (e.g., $163,693 in 2016 down to $20,478 in 2022) indicate a reliance on varying funding sources, which could pose challenges for long-term planning. The consistent filing of IRS Form 990 demonstrates a commitment to transparency.