Quick charity verification for Wade J Woodmark Foundation Inc (EIN: 204877214)
Verdict: Wade J Woodmark Foundation Inc appears trustworthy
90/100Mission Score
$35KRevenue
$133KAssets
0Red Flags
5Strengths
No red flags identified.
Strengths
Consistent asset growth from $98,120 in 2013 to $130,279 in 2023.
Zero liabilities reported across all available filing periods.
0% officer compensation reported, indicating strong commitment to mission spending.
Expenses consistently lower than revenue in most recent years, allowing for asset accumulation.
Strong financial stability with a healthy reserve fund.
Spending Breakdown
How Wade J Woodmark Foundation Inc allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
5%
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 Wade J Woodmark Foundation Inc
Is Wade J Woodmark Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Wade J Woodmark Foundation Inc (EIN: 204877214) appears trustworthy. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.
Is Wade J Woodmark Foundation Inc a good charity to donate to?
Wade J Woodmark Foundation Inc has a Mission Score of 90/100. Revenue: $35K. Assets: $133K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Wade J Woodmark Foundation Inc?
The Employer Identification Number (EIN) for Wade J Woodmark Foundation Inc is 204877214. 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 Wade J Woodmark Foundation Inc spend its money?
Wade J Woodmark Foundation Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Wade J Woodmark Foundation Inc's tax-exempt status?
You can verify Wade J Woodmark Foundation Inc's tax-exempt status using EIN 204877214 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 Wade J Woodmark Foundation Inc demonstrates consistent financial stability with a healthy asset base relative to its revenue. In 2023, the organization reported $19,730 in revenue against $8,390 in expenses, indicating efficient management of resources. Over the past several years, the foundation has maintained a positive net asset position, with assets growing from $98,120 in 2013 to $130,279 in 2023, and consistently reporting zero liabilities. This suggests a strong financial foundation and responsible fiscal stewardship.
The organization's spending efficiency appears strong, particularly in recent years. For instance, in 2023, expenses were less than half of the revenue, allowing for asset growth. While specific program spending details are not provided in the summary data, the low overall expense figures relative to revenue suggest a lean operational model. The consistent reporting of 0% officer compensation across all available filings indicates a commitment to directing funds towards the mission rather than executive salaries, enhancing its transparency and public trust.
Overall, the Wade J Woodmark Foundation Inc exhibits characteristics of a well-managed and transparent nonprofit. Its consistent financial health, absence of liabilities, and lack of executive compensation contribute to a positive assessment of its financial practices. The growth in assets over time, even with fluctuating revenues, further underscores its ability to sustain operations and build reserves for future programmatic activities.