Financial grades, level by level

1. A+983 organizations90%+ of spending on programs and at most $10 to raise $100 — exceptional efficiency.
2. A4,580 organizations80%+ on programs, up to $20 to raise $100 — excellent stewardship of donations.
3. B+1,359 organizations75%+ on programs, up to $25 to raise $100 — meets common watchdog benchmarks.
4. B243,635 organizations65%+ on programs, up to $35 to raise $100 — solid, close to the benchmarks.
5. C+259,202 organizations60%+ on programs, up to $40 to raise $100 — noticeable overhead; check the trend.
6. C98,767 organizations50%+ on programs, up to $50 to raise $100 — half of spending isn't programs.
7. D107,170 organizations40%+ on programs, up to $65 to raise $100 — donors should ask hard questions.
8. F66,173 organizationsUnder 40% on programs or more than $65 to raise $100 — serious efficiency concerns.

Organizations that only file the Form 990-N postcard disclose no financials at all — they appear on the site without a grade rather than with a guessed one.