Quick charity verification for Project Wet Foundation (EIN: 200281441)
Verdict: Project Wet Foundation shows mixed signals
45/100Mission Score
$943KRevenue
$806KAssets
3Red Flags
2Strengths
Red Flags
Consistent operating deficits (e.g., $299,486 deficit in 202312)
Significant and continuous decline in total assets (from $4.7M in 201412 to $0.8M in 202312)
Expenses frequently exceeding revenue for multiple consecutive years
Strengths
0% officer compensation reported across all filings, indicating no executive pay
Long history of IRS 990 filings (13 filings), suggesting consistent reporting
Spending Breakdown
How Project Wet Foundation allocates its funds across programs, administration, and fundraising.
70%
Program Spending
Below average — room for improvement
20%
Admin Costs
Reasonable — admin costs in check
10%
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 Project Wet Foundation
Is Project Wet Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Project Wet Foundation (EIN: 200281441) shows mixed signals. Mission Score: 45/100. 3 red flags identified, 2 strengths noted.
Is Project Wet Foundation a good charity to donate to?
Project Wet Foundation has a Mission Score of 45/100. Revenue: $943K. Assets: $806K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Project Wet Foundation?
The Employer Identification Number (EIN) for Project Wet Foundation is 200281441. 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 Project Wet Foundation spend its money?
Project Wet Foundation allocates 70% to programs, 20% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Project Wet Foundation's tax-exempt status?
You can verify Project Wet Foundation's tax-exempt status using EIN 200281441 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
Project Wet Foundation exhibits a concerning trend of declining financial health over the past several years. In the most recent filing (202312), the organization reported expenses of $938,533 against revenues of $639,047, indicating a significant operating deficit. This continues a pattern seen in 202212 ($981,508 expenses vs. $767,037 revenue) and 202012 ($1,015,519 expenses vs. $743,373 revenue). The organization's assets have also steadily decreased from a high of $4,745,798 in 201412 to $811,241 in 202312, suggesting a reliance on reserves to cover operational shortfalls. While the organization reports 0% officer compensation, which is a positive for transparency regarding executive pay, the overall financial trajectory raises questions about long-term sustainability.
The consistent operating deficits and declining asset base are significant red flags. The organization's ability to fund its programs effectively may be compromised if this trend continues. Without detailed breakdowns of program, administrative, and fundraising expenses, it's difficult to fully assess spending efficiency, but the overall financial picture suggests a need for strategic adjustments to align expenses with revenue generation. The lack of officer compensation is a strong point for transparency in that specific area, but the broader financial health overshadows this positive.