Is Washington County Economic Development Corp Legit?
Quick charity verification for Washington County Economic Development Corp (EIN: 203851261)
Verdict: Washington County Economic Development Corp appears trustworthy
85/100Mission Score
$1.2MRevenue
$1.6MAssets
1Red Flags
4Strengths
Red Flags
Lack of reported officer compensation may obscure executive pay practices if compensation is embedded in other expense categories.
Strengths
Significant revenue growth from $543,113 in 2021 to $1,106,235 in 2023.
Substantial asset accumulation, increasing from $327,809 in 2021 to $1,171,167 in 2023.
Consistent financial surpluses in recent years (e.g., $1,106,235 revenue vs. $826,027 expenses in 2023).
No reported officer compensation, potentially indicating efficient use of funds or volunteer leadership.
Spending Breakdown
How Washington County Economic Development Corp 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 Washington County Economic Development Corp
Is Washington County Economic Development Corp a legitimate charity?
Based on AI analysis of IRS 990 filings, Washington County Economic Development Corp (EIN: 203851261) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
Is Washington County Economic Development Corp a good charity to donate to?
Washington County Economic Development Corp has a Mission Score of 85/100. Revenue: $1.2M. Assets: $1.6M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Washington County Economic Development Corp?
The Employer Identification Number (EIN) for Washington County Economic Development Corp is 203851261. 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 Washington County Economic Development Corp spend its money?
Washington County Economic Development Corp allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Washington County Economic Development Corp's tax-exempt status?
You can verify Washington County Economic Development Corp's tax-exempt status using EIN 203851261 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
Washington County Economic Development Corp (WCEDC) demonstrates a generally healthy financial trajectory, marked by significant growth in revenue and assets over the past few years. In the latest filing (202312), the organization reported revenue of $1,106,235 against expenses of $826,027, indicating a substantial surplus. This positive trend is further supported by a notable increase in assets, from $327,809 in 2021 to $1,171,167 in 2023. The organization's spending efficiency appears strong, with expenses consistently lower than revenue in recent periods, suggesting effective resource management.
While specific program, administrative, and fundraising expense breakdowns are not provided in the summary data, the consistent surpluses and asset growth point to a financially stable operation. The absence of reported officer compensation across all filings suggests either a volunteer-led executive team or compensation is categorized differently, which could be a point for further inquiry regarding transparency. Overall, WCEDC appears to be a well-managed organization experiencing robust financial growth, positioning it well to achieve its mission.