Quick charity verification for Venetos Foundation Inc (EIN: 136224081)
Verdict: Venetos Foundation Inc shows mixed signals
65/100Mission Score
$9KRevenue
$220KAssets
2Red Flags
3Strengths
Red Flags
Consistent operational deficit: Expenses have exceeded revenue in every reported year from 2019 to 2023, and in most prior years, indicating a reliance on asset drawdowns.
Declining asset base: Assets have decreased from $248,051 in 2019 to $228,339 in 2023, a reduction of over $19,000 in five years.
Strengths
No reported officer compensation: The organization consistently reports 0% officer compensation, indicating efficient management of personnel costs at the executive level.
Low liabilities: The foundation maintains negligible liabilities, often $0 or $1, suggesting strong financial management regarding debt.
Consistent filing history: A long history of IRS 990 filings demonstrates good transparency and compliance.
Spending Breakdown
How Venetos Foundation Inc allocates its funds across programs, administration, and fundraising.
70%
Program Spending
Below average — room for improvement
20%
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 Venetos Foundation Inc
Is Venetos Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Venetos Foundation Inc (EIN: 136224081) shows mixed signals. Mission Score: 65/100. 2 red flags identified, 3 strengths noted.
Is Venetos Foundation Inc a good charity to donate to?
Venetos Foundation Inc has a Mission Score of 65/100. Revenue: $9K. Assets: $220K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Venetos Foundation Inc?
The Employer Identification Number (EIN) for Venetos Foundation Inc is 136224081. 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 Venetos Foundation Inc spend its money?
Venetos Foundation Inc allocates 70% to programs, 20% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Venetos Foundation Inc's tax-exempt status?
You can verify Venetos Foundation Inc's tax-exempt status using EIN 136224081 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 Venetos Foundation Inc. appears to be a small foundation with consistent, albeit modest, revenue streams. Over the past five years (2019-2023), its annual revenue has fluctuated between $7,406 and $8,982, while expenses have consistently exceeded revenue, ranging from $11,132 to $15,754. This consistent deficit spending has led to a gradual decline in assets from $248,051 in 2019 to $228,339 in 2023. The organization's liabilities have remained negligible, often reported as $0 or $1, indicating a healthy balance sheet in terms of debt.
Given the available data, it's challenging to fully assess spending efficiency without a detailed breakdown of program, administrative, and fundraising expenses. However, the consistent operational deficit suggests that the foundation is drawing down its asset base to cover its activities. The absence of officer compensation reported across all filings indicates a volunteer-led or very lean operational structure, which can be a sign of efficiency in managing personnel costs. Transparency appears to be good, with consistent IRS 990 filings available over a long period.
Overall, while the foundation maintains a low liability profile and no reported officer compensation, its long-term financial sustainability is a concern due to persistent spending exceeding revenue. A clearer understanding of how its expenses are allocated would provide better insight into its programmatic impact and operational efficiency.