Is The Kim And David Wagman Foundation Legit?

The Kim And David Wagman Foundation appears to be a private foundation, as indicated by its NTEE code T20 (Private Grantmaking Foundations) and its consistent pattern of grantmaking rather than direct program services. Its financial health shows significant assets, reaching $23,704,998 in the latest available data, with a consistent growth trend over the past decade. Revenue has fluctuated, with a notable high of $14,541,913 in the latest period, suggesting substantial contributions or investment gains. Spending efficiency is difficult to fully assess without a detailed breakdown of expenses into program, administrative, and fundraising categories, which are not typically itemized in the same way for private foundations as for public charities. However, the foundation consistently reports zero officer compensation, which is a positive indicator of efficient use of funds at the executive level. The foundation's primary function is likely grantmaking, meaning its 'program' spending would be the grants it distributes. Transparency is generally good given the availability of 10 years of IRS 990 filings. The consistent reporting of minimal liabilities ($0 or $1) across all periods suggests sound financial management and a lack of significant debt. The absence of officer compensation also enhances transparency regarding how funds are allocated.