Is The Lawrence And Lillian Solomon Foundation Inc Legit?
Quick charity verification for The Lawrence And Lillian Solomon Foundation Inc (EIN: 202631943)
Verdict: The Lawrence And Lillian Solomon Foundation Inc appears trustworthy
85/100Mission Score
$2.9MRevenue
$6.9MAssets
2Red Flags
4Strengths
Red Flags
Consistent operational deficits in several years (e.g., 2023 expenses $1,067,648 vs. revenue $670,667), indicating reliance on endowment drawdowns.
Significant decrease in assets over the past decade, from $11.3M in 2011 to $7.0M in 2023, suggesting a potential long-term sustainability concern if not managed strategically.
Strengths
Zero officer compensation reported across all filings, demonstrating high efficiency in executive pay.
Consistent IRS 990 filing history (10 filings), indicating strong transparency and compliance.
Substantial asset base (over $7 million in 2023) provides a strong foundation for grantmaking activities.
Low liabilities reported across all years, indicating sound financial management and minimal debt.
Spending Breakdown
How The Lawrence And Lillian Solomon Foundation 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 The Lawrence And Lillian Solomon Foundation Inc
Is The Lawrence And Lillian Solomon Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, The Lawrence And Lillian Solomon Foundation Inc (EIN: 202631943) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
Is The Lawrence And Lillian Solomon Foundation Inc a good charity to donate to?
The Lawrence And Lillian Solomon Foundation Inc has a Mission Score of 85/100. Revenue: $2.9M. Assets: $6.9M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for The Lawrence And Lillian Solomon Foundation Inc?
The Employer Identification Number (EIN) for The Lawrence And Lillian Solomon Foundation Inc is 202631943. 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 Lawrence And Lillian Solomon Foundation Inc spend its money?
The Lawrence And Lillian Solomon Foundation Inc allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify The Lawrence And Lillian Solomon Foundation Inc's tax-exempt status?
You can verify The Lawrence And Lillian Solomon Foundation Inc's tax-exempt status using EIN 202631943 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 Lawrence And Lillian Solomon Foundation Inc operates as a private foundation, as indicated by its NTEE code T20 (Private Grantmaking Foundations). Its financial health shows variability in revenue, with several years experiencing expenses exceeding revenue, such as in 2023 where expenses were $1,067,648 against revenue of $670,667. Despite these operational deficits, the foundation maintains substantial assets, reported at $7,097,554 in 2023, suggesting a strong endowment that supports its grantmaking activities. The consistent reporting of zero officer compensation across all available filings indicates a lean administrative structure regarding executive pay, which is a positive sign for donor confidence.
The foundation's spending efficiency, while not explicitly detailed in terms of program vs. administrative costs in the provided data, can be inferred to be primarily focused on its mission given its nature as a grantmaking foundation. The absence of officer compensation suggests that a significant portion of its operational expenses would likely be directed towards grants and necessary administrative overhead for managing its endowment and grant distribution. The foundation's transparency is good, with 10 years of consistent IRS 990 filings available, allowing for a clear historical view of its financial activities and asset management.