Reading the public records

US nonprofits are required to make key information public — which means you can evaluate The Exodus Road (or any US charity) from primary documents, not hearsay. Here's how to find and read them.

The key document: IRS Form 990

Most US public charities must file an annual Form 990 with the IRS, and these are public records. It's the single most useful primary source about a charity's finances and governance.

Where to find it (free)

• ProPublica's Nonprofit Explorer (projects.propublica.org/nonprofits) — free, searchable 990s;
• Candid / GuideStar — free 990 access with registration;
• The IRS Tax Exempt Organization Search — official filings and status, including whether an organization's exempt status has ever been revoked and reinstated;
• The charity's own website — many post financials and annual reports directly.

Different 990 variants (why they're not all the same)

Which version an organization files depends mostly on its size, which affects how much detail you'll actually see:

• Form 990-N (“e-Postcard”): the smallest organizations file this bare minimum notice — almost no financial detail;
• Form 990-EZ: mid-sized organizations file a shortened version with summary financials;
• Form 990 (full): larger public charities file the full form, with the detailed schedules covered in how to read a Form 990;
• Form 990-PF: private foundations file a distinct version focused on grantmaking and payout requirements.

An organization the size of most active national nonprofits will typically file the full Form 990 with its accompanying schedules — check which version is on file before assuming a level of detail that isn't there.

Beyond the 990: other public records worth checking

• State charity registration: most states require organizations that solicit donations to register with a state agency (often the Attorney General or Secretary of State) — a basic, useful check that an organization is soliciting lawfully where you live;
• Audited financial statements: larger charities often commission an independent audit, sometimes published separately from the 990 — look for it on the charity's site or ask for it directly;
• Annual reports: a charity's own narrative account of the year, useful for cross-checking against the 990's numbers and Part III's program description;
• Watchdog profiles: aggregate and standardize some of this information — see charity rating tools compared.

What to look at in a 990

• Revenue and expenses: total money in and out, and the trend over multiple years;
• Functional expense breakdown: how much goes to program services vs management/general vs fundraising — the basis of the (imperfect) ‘overhead ratio’;
• Executive compensation: Part VII and Schedule J list key employees' pay — judge it against organization size and sector norms, not in a vacuum (see understanding executive pay);
• Governance: board size and independence, conflict-of-interest policy, and related-party transactions;
• Program descriptions: the organization's own account of what it did with the money.

For a section-by-section walkthrough of exactly where each of these lives on the form, see how to read a Form 990. Unfamiliar term along the way? Check the glossary.

How to read them well

• Look across several years, not one snapshot — trends beat single data points;
• Compare to peers in the same sector and size band — context is everything;
• Don't over-read overhead: low overhead isn't automatically ‘good’ and higher isn't automatically ‘bad’ — effective organizations invest in capacity (why);
• The 990 shows finances and governance, not impact — for outcomes you need other evidence (here).