Quick charity verification for The Loretta Lynn Foundation Inc (EIN: 202029176)
Verdict: The Loretta Lynn Foundation Inc appears trustworthy
90/100Mission Score
$315KRevenue
$1.5MAssets
0Red Flags
5Strengths
No red flags identified.
Strengths
Consistent asset growth, increasing from $1.25M in 2011 to over $1.5M in 2023.
Zero officer compensation reported across all filings, indicating volunteer leadership.
Very low liabilities consistently reported (often just $1), demonstrating strong financial stability.
Consistent operational surpluses in recent years (e.g., $64,752 in 2023, $132,098 in 2022).
Regular and transparent IRS 990 filing history over a decade.
Spending Breakdown
How The Loretta Lynn 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
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 Loretta Lynn Foundation Inc
Is The Loretta Lynn Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, The Loretta Lynn Foundation Inc (EIN: 202029176) appears trustworthy. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.
Is The Loretta Lynn Foundation Inc a good charity to donate to?
The Loretta Lynn Foundation Inc has a Mission Score of 90/100. Revenue: $315K. Assets: $1.5M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for The Loretta Lynn Foundation Inc?
The Employer Identification Number (EIN) for The Loretta Lynn Foundation Inc is 202029176. 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 Loretta Lynn Foundation Inc spend its money?
The Loretta Lynn 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 Loretta Lynn Foundation Inc's tax-exempt status?
You can verify The Loretta Lynn Foundation Inc's tax-exempt status using EIN 202029176 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 Loretta Lynn Foundation Inc demonstrates consistent financial stability with growing assets and a healthy revenue stream. In 2023, the organization reported revenues of $275,325 against expenses of $210,573, indicating a surplus that contributes to its substantial asset base of $1,532,276. Over the past decade, assets have steadily increased from $1,259,771 in 2011 to over $1.5 million in 2023, suggesting effective asset management and financial growth. The foundation consistently reports zero officer compensation, which is a strong indicator of volunteer leadership and a commitment to directing funds towards its mission.
The organization's spending efficiency appears strong, as evidenced by its consistent operational surpluses in recent years (e.g., $64,752 in 2023 and $132,098 in 2022). While specific program spending percentages are not detailed in the provided data, the absence of officer compensation implies a high proportion of expenses are likely directed towards programmatic activities or essential administrative support. The minimal liabilities reported across all years (often just $1) further underscores a very healthy financial position and responsible fiscal management.
In terms of transparency, the consistent filing of IRS Form 990s over a decade is a positive sign. The clear reporting of revenue, expenses, assets, and liabilities, along with the explicit declaration of zero officer compensation, contributes to a transparent financial profile. The sustained growth in assets without significant increases in liabilities or executive pay suggests a well-managed and mission-focused organization.