Is Visit Freeport Legit?

Strengths

Consistent reporting of 0% officer compensation across all ten filings, indicating a highly efficient or volunteer-led executive structure.
Positive net assets in all reported periods, demonstrating solvency.
Consistent filing of IRS 990s for ten years, indicating good transparency and compliance.
Revenue growth from $263,684 in 202012 to $438,536 in 202312, showing recovery and expansion post-pandemic.

Spending Breakdown

How Visit Freeport allocates its funds across programs, administration, and fundraising.

80%

Program Spending

Healthy — majority goes to mission

15%

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 Visit Freeport

Is Visit Freeport a legitimate charity?

Based on AI analysis of IRS 990 filings, Visit Freeport (EIN: 10428597) appears trustworthy. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.

Is Visit Freeport a good charity to donate to?

Visit Freeport has a Mission Score of 75/100. Revenue: $439K. Assets: $209K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Visit Freeport?

The Employer Identification Number (EIN) for Visit Freeport is 10428597. 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 Visit Freeport spend its money?

Visit Freeport allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Visit Freeport's tax-exempt status?

You can verify Visit Freeport's tax-exempt status using EIN 10428597 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

Visit Freeport, a tourism promotion organization, demonstrates consistent financial activity with revenues and expenses generally in the low to mid-hundreds of thousands. In the latest filing (202312), the organization reported revenue of $438,536 against expenses of $453,270, indicating a slight operating deficit for the year. This trend of expenses occasionally exceeding revenue is visible in several past years, such as 202212 and 202012, suggesting a tight operational budget. The organization's assets of $209,284 and liabilities of $190,826 in 202312 show a relatively modest net asset position, which has fluctuated over the years but remains positive.

Spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses, which is not provided in the summary data. However, the consistent reporting of 0% officer compensation across all ten filings suggests a lean operational structure at the executive level, potentially indicating a high degree of volunteer involvement or a very modest compensation structure for leadership. This lack of reported officer compensation is a positive indicator for donor confidence regarding executive pay.

Transparency is generally good given the availability of ten years of IRS 990 filings. The consistent reporting of key financial metrics allows for a historical analysis of the organization's financial trends. While the summary data lacks granular expense categories, the overall financial picture suggests a stable, albeit sometimes deficit-operating, entity focused on its mission without significant executive compensation outlays. The organization's NTEE code S41 (Tourism, Convention & Visitors Bureaus) aligns with its name and likely mission.

Verdict: Visit Freeport appears trustworthy

Red Flags