Quick charity verification for William And Karin Banks Foundation Inc (EIN: 10758677)
Verdict: William And Karin Banks Foundation Inc appears trustworthy
95/100Mission Score
$4.4MRevenue
$6.7MAssets
1Red Flags
5Strengths
Red Flags
Negative revenue reported in 2020 (-$32,984), which could indicate investment losses or significant returns/allowances that year.
Strengths
Consistent asset growth from $5.9M in 2011 to $6.4M in 2023.
0% officer compensation reported across all filings, indicating high efficiency.
Minimal liabilities ($0 or $1) across all reported periods, showing strong financial stability.
Expenses consistently lower than revenue in most years, demonstrating sound financial management.
Long and consistent filing history (10 filings), providing good transparency.
Spending Breakdown
How William And Karin Banks Foundation Inc allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
0%
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 William And Karin Banks Foundation Inc
Is William And Karin Banks Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, William And Karin Banks Foundation Inc (EIN: 10758677) appears trustworthy. Mission Score: 95/100. 1 red flag identified, 5 strengths noted.
Is William And Karin Banks Foundation Inc a good charity to donate to?
William And Karin Banks Foundation Inc has a Mission Score of 95/100. Revenue: $4.4M. Assets: $6.7M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for William And Karin Banks Foundation Inc?
The Employer Identification Number (EIN) for William And Karin Banks Foundation Inc is 10758677. 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 William And Karin Banks Foundation Inc spend its money?
William And Karin Banks Foundation Inc allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify William And Karin Banks Foundation Inc's tax-exempt status?
You can verify William And Karin Banks Foundation Inc's tax-exempt status using EIN 10758677 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 William And Karin Banks Foundation Inc demonstrates consistent financial stability with assets growing from $5,941,502 in 2011 to $6,497,749 in 2023. The organization consistently spends less than its revenue, as seen in 2023 where revenue was $608,671 and expenses were $366,554, indicating sound financial management and an ability to build reserves. The foundation's liabilities have remained minimal, often reported as $0 or $1, which is a strong indicator of financial health and low risk.
Spending efficiency appears high, particularly given the consistent reporting of 0% officer compensation across all available filings. This suggests that a very high proportion of expenses are directed towards program services or essential administrative functions without significant overhead for executive salaries. The foundation's consistent growth in assets, despite fluctuating annual revenues (e.g., a negative revenue of $-32,984 in 2020), further underscores its prudent financial stewardship and long-term sustainability.
Transparency is excellent, with 0% officer compensation clearly reported across all filings, indicating that the organization is not burdened by high executive salaries. The consistent filing history over a decade provides a clear and stable financial picture, allowing for thorough analysis of its operations and impact. The minimal liabilities also contribute to a transparent financial structure, as there are no significant debts or complex financial obligations to obscure its true financial position.