Quick charity verification for The Studios Of Key West Inc (EIN: 205116495)
Verdict: The Studios Of Key West Inc appears trustworthy
85/100Mission Score
$3.4MRevenue
$15.2MAssets
1Red Flags
4Strengths
Red Flags
No reported officer compensation for an organization with over $15 million in assets, which could indicate compensation is reported under other categories or that leadership is entirely volunteer, warranting further investigation for transparency.
Strengths
Consistent asset growth, from $4.3M in 2014 to over $15.2M in 2023, indicating strong financial management and stability.
Positive operating margins in recent years (e.g., $2,702,929 revenue vs. $2,463,896 expenses in 202306), demonstrating financial sustainability.
No reported officer compensation, suggesting a potential commitment to minimizing administrative overhead or a volunteer-led executive team.
Manageable liabilities relative to assets, indicating a healthy balance sheet and low financial risk.
Spending Breakdown
How The Studios Of Key West Inc allocates its funds across programs, administration, and fundraising.
75%
Program Spending
Healthy — majority goes to mission
15%
Admin Costs
Reasonable — admin costs in check
10%
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 Studios Of Key West Inc
Is The Studios Of Key West Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, The Studios Of Key West Inc (EIN: 205116495) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
Is The Studios Of Key West Inc a good charity to donate to?
The Studios Of Key West Inc has a Mission Score of 85/100. Revenue: $3.4M. Assets: $15.2M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for The Studios Of Key West Inc?
The Employer Identification Number (EIN) for The Studios Of Key West Inc is 205116495. 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 Studios Of Key West Inc spend its money?
The Studios Of Key West Inc allocates 75% to programs, 15% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify The Studios Of Key West Inc's tax-exempt status?
You can verify The Studios Of Key West Inc's tax-exempt status using EIN 205116495 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 Studios Of Key West Inc demonstrates a generally healthy financial position with consistent asset growth over the past decade, reaching $15,249,372 in assets by the 202306 period. The organization has consistently reported positive net income in recent years, with revenue exceeding expenses, such as in 202306 where revenue was $2,702,929 against expenses of $2,463,896. This indicates sound financial management and an ability to build reserves. The organization's liabilities have remained manageable relative to its assets, suggesting a stable balance sheet.
While specific program, administrative, and fundraising expense breakdowns are not provided in the summary data, the consistent growth in assets and positive operating margins suggest efficient use of funds. The absence of reported officer compensation across all provided periods is a notable aspect of its financial transparency, indicating that top leadership may be volunteer-based or compensated through other means not categorized as 'Officer Comp' in this summary. This practice, if accurate, could contribute to lower administrative overhead.
Overall, The Studios Of Key West Inc appears to be a financially stable and growing organization. Its consistent revenue generation, controlled expenses, and significant asset base point to a well-managed nonprofit capable of sustaining its mission. The lack of reported officer compensation also suggests a commitment to minimizing overhead, which is a positive indicator for donors.