Quick charity verification for The Wallace Family Foundation Inc (EIN: 208798457)
Verdict: The Wallace Family Foundation Inc appears trustworthy
90/100Mission Score
$389KRevenue
$5.5MAssets
0Red Flags
5Strengths
No red flags identified.
Strengths
Consistent 0% officer compensation, indicating high efficiency and mission focus.
Significant and consistent asset growth, from $3,611 in 2012 to $5,522,113 in 2023.
Very low liabilities, indicating strong financial stability (e.g., $516 in 2023).
High proportion of spending likely directed towards programs due to minimal overhead.
Long history of IRS 990 filings (14 filings), demonstrating transparency and compliance.
Spending Breakdown
How The Wallace Family Foundation Inc allocates its funds across programs, administration, and fundraising.
95%
Program Spending
Healthy — majority goes to mission
5%
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 The Wallace Family Foundation Inc
Is The Wallace Family Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, The Wallace Family Foundation Inc (EIN: 208798457) appears trustworthy. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.
Is The Wallace Family Foundation Inc a good charity to donate to?
The Wallace Family Foundation Inc has a Mission Score of 90/100. Revenue: $389K. Assets: $5.5M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for The Wallace Family Foundation Inc?
The Employer Identification Number (EIN) for The Wallace Family Foundation Inc is 208798457. 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 The Wallace Family Foundation Inc spend its money?
The Wallace Family Foundation Inc allocates 95% to programs, 5% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify The Wallace Family Foundation Inc's tax-exempt status?
You can verify The Wallace Family Foundation Inc's tax-exempt status using EIN 208798457 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 Wallace Family Foundation Inc demonstrates a strong commitment to program spending, with a significant portion of its expenses directly supporting its mission. For instance, in 2023, with total expenses of $656,247, the foundation reported 0% officer compensation, indicating that administrative costs are likely kept low. The organization's assets have grown substantially over the years, from $3,611 in 2012 to $5,522,113 in 2023, suggesting effective asset management and financial stability.
While the foundation's revenue has fluctuated, with a high of $3,066,867 in 2020 and $797,170 in 2023, its consistent growth in assets and minimal liabilities (e.g., $516 in 2023) point to a well-managed financial structure. The absence of reported officer compensation across all available filings is a strong indicator of transparency and a focus on directing resources towards programmatic activities rather than executive salaries.
Overall, The Wallace Family Foundation appears to be a financially healthy and efficient organization, prioritizing its mission through prudent spending and strong asset growth. Its consistent reporting of zero officer compensation enhances its transparency profile.