Is Vern And Marva Wolcott Charitable Foundation Legit?
Quick charity verification for Vern And Marva Wolcott Charitable Foundation (EIN: 202221859)
Verdict: Vern And Marva Wolcott Charitable Foundation appears trustworthy
92/100Mission Score
$4.4MRevenue
$8.8MAssets
1Red Flags
5Strengths
Red Flags
Negative revenue reported in the 202302 period ($-656,724) without further explanation.
Strengths
Consistently high program spending ratio (90% in 202302).
Zero officer compensation reported across all filings.
Minimal liabilities ($1 across all periods) indicating strong financial health.
Significant growth in assets over the past decade, from $3,549 to $8,796,936.
Consistent IRS 990 filing history demonstrating transparency.
Spending Breakdown
How Vern And Marva Wolcott Charitable Foundation allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
10%
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 Vern And Marva Wolcott Charitable Foundation
Is Vern And Marva Wolcott Charitable Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Vern And Marva Wolcott Charitable Foundation (EIN: 202221859) appears trustworthy. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
Is Vern And Marva Wolcott Charitable Foundation a good charity to donate to?
Vern And Marva Wolcott Charitable Foundation has a Mission Score of 92/100. Revenue: $4.4M. Assets: $8.8M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Vern And Marva Wolcott Charitable Foundation?
The Employer Identification Number (EIN) for Vern And Marva Wolcott Charitable Foundation is 202221859. 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 Vern And Marva Wolcott Charitable Foundation spend its money?
Vern And Marva Wolcott Charitable Foundation allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Vern And Marva Wolcott Charitable Foundation's tax-exempt status?
You can verify Vern And Marva Wolcott Charitable Foundation's tax-exempt status using EIN 202221859 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 Vern And Marva Wolcott Charitable Foundation demonstrates a consistent commitment to its program services, with a significant portion of its expenses directed towards its mission. For instance, in the 202302 period, out of $485,855 in total expenses, 90% was allocated to program services, indicating strong programmatic efficiency. The organization also maintains a healthy asset base, with $8,796,936 in total assets as of the latest filing, providing a solid financial foundation for its operations.
However, the foundation has experienced fluctuating revenue, including a negative revenue of $-656,724 in the 202302 period, which warrants closer examination. Despite this, the organization has managed its expenses effectively, consistently keeping officer compensation at 0% across all reported periods, which speaks to its operational efficiency and dedication to directing funds towards its charitable purpose. The minimal liabilities reported ($1 across all periods) also suggest sound financial management and low financial risk.
Overall, the foundation appears to be financially stable with a strong focus on its mission, as evidenced by its program spending and lack of executive compensation. While the recent negative revenue is a point of concern, the overall trend of maintaining a substantial asset base and efficient spending habits suggests a well-managed organization. Its consistent filing history and minimal liabilities contribute to its transparency and financial health.