Is Truman And Lorraine Julseth Scholarship…

Quick charity verification for Truman And Lorraine Julseth Scholarship Fund (EIN: 205124220)

Spending Breakdown

How Truman And Lorraine Julseth Scholarship Fund 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 Truman And Lorraine Julseth Scholarship Fund

Is Truman And Lorraine Julseth Scholarship Fund a legitimate charity?

Based on AI analysis of IRS 990 filings, Truman And Lorraine Julseth Scholarship Fund (EIN: 205124220) appears trustworthy. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.

Is Truman And Lorraine Julseth Scholarship Fund a good charity to donate to?

Truman And Lorraine Julseth Scholarship Fund has a Mission Score of 75/100. Revenue: $8K. Assets: $149K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Truman And Lorraine Julseth Scholarship Fund?

The Employer Identification Number (EIN) for Truman And Lorraine Julseth Scholarship Fund is 205124220. 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 Truman And Lorraine Julseth Scholarship Fund spend its money?

Truman And Lorraine Julseth Scholarship Fund allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Truman And Lorraine Julseth Scholarship Fund's tax-exempt status?

You can verify Truman And Lorraine Julseth Scholarship Fund's tax-exempt status using EIN 205124220 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 Truman And Lorraine Julseth Scholarship Fund operates as a small scholarship provider with a consistent asset base, though it has experienced significant fluctuations in annual revenue and expenses. For instance, in 2022, the organization reported negative revenue of $-3,704, while in 2021, it saw a substantial revenue of $37,042. Despite these variations, the organization consistently reports zero officer compensation, indicating a volunteer-driven leadership structure which is a positive sign for donor confidence. However, the consistent reporting of $1 in liabilities across all periods, while not a major financial concern, is an unusual accounting practice that could warrant further clarification.

The organization's financial health appears stable due to its substantial assets relative to its operational scale, with assets generally ranging between $150,000 and $195,000 over the past decade, despite a notable drop to $4,296 in 2023. Its spending efficiency is difficult to precisely determine without a detailed breakdown of program versus administrative expenses in the provided data. However, the consistent deficit spending in many years (e.g., 2023 expenses of $8,987 against revenue of $5,973; 2022 expenses of $10,031 against negative revenue) suggests that the fund is primarily drawing from its endowment to fulfill its scholarship mission, which is typical for an endowment-based scholarship fund. The lack of officer compensation is a strong indicator of efficient use of funds at the leadership level.

Transparency is generally good given the availability of 990 filings. The consistent reporting of zero officer compensation enhances trust. However, the unusual $1 liability figure across all filings and the significant asset fluctuation in 2023 (from $156,763 in 2022 to $4,296 in 2023) are points that could benefit from more detailed explanation to fully assure stakeholders. Overall, it appears to be a dedicated scholarship fund, but with some financial reporting quirks.

Is Truman And Lorraine Julseth Scholarship Fund Legit?

Verdict: Truman And Lorraine Julseth Scholarship Fund appears trustworthy

Red Flags

Strengths