Is The Keith Haring Foundation Inc Legit? —…

Quick charity verification for The Keith Haring Foundation Inc (EIN: 110249024)

Strengths

Strong financial health with consistent revenue surpluses and asset growth (from $18.6M in 2011 to $74.6M in 2023).
Extremely low liabilities, often reported as $0 or $1, indicating excellent fiscal management.
Efficient spending with expenses consistently well below revenue in recent years (e.g., 2023 expenses were 42.5% of revenue).
Long-term financial stability demonstrated by continuous asset accumulation over more than a decade.

Spending Breakdown

How The Keith Haring Foundation Inc allocates its funds across programs, administration, and fundraising.

85%

Program Spending

Healthy — majority goes to mission

10%

Admin Costs

Reasonable — admin costs in check

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 Keith Haring Foundation Inc

Is The Keith Haring Foundation Inc a legitimate charity?

Based on AI analysis of IRS 990 filings, The Keith Haring Foundation Inc (EIN: 110249024) appears trustworthy. Mission Score: 90/100. 2 red flags identified, 4 strengths noted.

Is The Keith Haring Foundation Inc a good charity to donate to?

The Keith Haring Foundation Inc has a Mission Score of 90/100. Revenue: $50.2M. Assets: $77.8M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for The Keith Haring Foundation Inc?

The Employer Identification Number (EIN) for The Keith Haring Foundation Inc is 110249024. 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 Keith Haring Foundation Inc spend its money?

The Keith Haring Foundation Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify The Keith Haring Foundation Inc's tax-exempt status?

You can verify The Keith Haring Foundation Inc's tax-exempt status using EIN 110249024 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 Keith Haring Foundation Inc demonstrates strong financial health and efficient spending based on its recent IRS 990 filings. In the 202309 period, the organization reported revenues of $15,916,366 against expenses of $6,775,637, indicating a significant surplus that contributes to its growing asset base, which reached $74,604,327. Over the past decade, the foundation has consistently maintained low liabilities, often reporting only $1 or $0, which is a strong indicator of financial stability and responsible fiscal management. The consistent growth in assets from $18,606,357 in 2011 to $74,604,327 in 2023 further underscores its robust financial position.

The foundation's spending efficiency appears high, with expenses consistently well below revenue in most recent years. For instance, in 2023, expenses were approximately 42.5% of revenue, suggesting a substantial portion of income is retained or allocated to future programs and asset growth. The absence of reported officer compensation across all available filings is a notable aspect of its financial transparency and operational model, indicating that executive leadership is either unpaid or compensated through other means not reported as officer compensation on the 990, which is unusual for an organization of this size. This practice, while potentially indicating volunteer leadership, could also raise questions about the full scope of administrative costs if compensation is channeled differently.

Overall, The Keith Haring Foundation Inc exhibits a healthy financial trajectory with strong asset growth and efficient expense management. The minimal liabilities and consistent surpluses point to a well-managed organization. The lack of reported officer compensation is a distinctive feature that contributes to a lean operational profile, though it warrants consideration in a full transparency assessment.

Is The Keith Haring Foundation Inc Legit?

Verdict: The Keith Haring Foundation Inc appears trustworthy

Red Flags