Quick charity verification for Sumner O Hancock Scholarship Fund (EIN: 16028898)
Verdict: Sumner O Hancock Scholarship Fund appears trustworthy
92/100Mission Score
$127KRevenue
$373KAssets
1Red Flags
5Strengths
Red Flags
None apparent from the provided summary data.
Strengths
Consistently reports 0% officer compensation, maximizing program funds.
Maintains a strong asset base relative to annual expenses ($373,261 assets vs. $38,140 expenses in 2022).
Minimal liabilities, often $1, indicating sound financial management.
Consistent IRS 990 filing history demonstrates transparency.
Significant increase in latest reported revenue ($127,026) could indicate growing support or successful investments.
Spending Breakdown
How Sumner O Hancock Scholarship Fund 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 Sumner O Hancock Scholarship Fund
Is Sumner O Hancock Scholarship Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Sumner O Hancock Scholarship Fund (EIN: 16028898) appears trustworthy. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
Is Sumner O Hancock Scholarship Fund a good charity to donate to?
Sumner O Hancock Scholarship Fund has a Mission Score of 92/100. Revenue: $127K. Assets: $373K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Sumner O Hancock Scholarship Fund?
The Employer Identification Number (EIN) for Sumner O Hancock Scholarship Fund is 16028898. 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 Sumner O Hancock Scholarship Fund spend its money?
Sumner O Hancock Scholarship Fund allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Sumner O Hancock Scholarship Fund's tax-exempt status?
You can verify Sumner O Hancock Scholarship Fund's tax-exempt status using EIN 16028898 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 Sumner O Hancock Scholarship Fund demonstrates consistent financial stability with a strong asset base relative to its annual revenue. While the organization experienced a slight decrease in assets from $390,227 in 2020 to $373,261 in 2022, this is not a significant concern given its mission. The fund consistently operates with minimal liabilities, often reporting only $1, indicating sound financial management and a lack of debt. Its revenue has fluctuated over the years, with a notable increase in the latest reported revenue of $127,026, which is significantly higher than previous years, suggesting a potential large donation or investment gain.
The organization's spending efficiency appears high, as it consistently reports 0% officer compensation, indicating that its leadership is likely volunteer-based, which maximizes funds available for its scholarship programs. Although specific program spending percentages are not detailed in the provided summary, the absence of officer compensation is a strong indicator of efficient use of funds. The fund's consistent filing of IRS 990 forms over nine periods demonstrates a commitment to transparency, allowing public scrutiny of its financial activities.
Overall, the Sumner O Hancock Scholarship Fund appears to be a well-managed and transparent organization, effectively utilizing its resources to fulfill its mission. The significant jump in latest revenue warrants further investigation to understand its source and sustainability, but the historical data points to a fiscally responsible entity.