Quick charity verification for The Carnegie Hall Corporation (EIN: 131923626)
Verdict: The Carnegie Hall Corporation appears trustworthy
75/100Mission Score
$259.2MRevenue
$629.5MAssets
2Red Flags
3Strengths
Red Flags
Consistent operational deficits (expenses exceeding revenue) in recent years, e.g., $110.5M expenses vs. $72.8M revenue in 2023.
Unusual reporting of 0% officer compensation across all filings, hindering executive compensation transparency.
Strengths
Substantial and stable asset base ($618.7M in 2023) providing financial resilience.
Significant revenue generation, with latest reported revenue at $259.2M (though this is 'latest' and not tied to a specific period in the filing history provided, the individual filing revenues are still substantial).
Long history of operations with 13 filings, indicating established presence and experience.
Spending Breakdown
How The Carnegie Hall Corporation 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 The Carnegie Hall Corporation
Is The Carnegie Hall Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, The Carnegie Hall Corporation (EIN: 131923626) appears trustworthy. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
Is The Carnegie Hall Corporation a good charity to donate to?
The Carnegie Hall Corporation has a Mission Score of 75/100. Revenue: $259.2M. Assets: $629.5M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for The Carnegie Hall Corporation?
The Employer Identification Number (EIN) for The Carnegie Hall Corporation is 131923626. 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 The Carnegie Hall Corporation spend its money?
The Carnegie Hall Corporation allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify The Carnegie Hall Corporation's tax-exempt status?
You can verify The Carnegie Hall Corporation's tax-exempt status using EIN 131923626 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 Carnegie Hall Corporation demonstrates a consistent commitment to its mission of presenting world-class music and arts programming, as evidenced by its substantial program service expenses. While the organization has experienced fluctuations in revenue, particularly during the pandemic years (e.g., $55.3M in 2021 vs. $90.4M in 2022), its asset base has remained robust, standing at $618.7M in 2023. This financial stability, coupled with a significant endowment, suggests a strong capacity to weather economic shifts and continue its operations.
However, a notable trend is that expenses have frequently exceeded revenue in recent years, such as in 2023 where expenses were $110.5M against revenues of $72.8M, and in 2022 with $100.5M in expenses against $90.4M in revenue. This indicates a reliance on drawing from reserves or other non-operating income to cover operational costs. While not uncommon for large cultural institutions, sustained deficits could warrant closer examination of long-term financial sustainability strategies.
The organization's transparency is generally good, with publicly available 990 filings. The consistent reporting of 0% for officer compensation across all provided filings is unusual for an organization of this size and revenue, suggesting that executive compensation might be reported under different categories or through related entities, which could impact the clarity of compensation analysis.