Quick charity verification for Wallace Genetic Foundation Inc (EIN: 136162575)
Verdict: Wallace Genetic Foundation Inc appears trustworthy
70/100Mission Score
$0Revenue
$0Assets
3Red Flags
3Strengths
Red Flags
Consistent deficit spending (expenses exceeding revenue) in multiple years, e.g., 2015 ($10.2M expenses vs. $8.1M revenue).
Reported $0 revenue and assets for the latest period, which is a significant data anomaly.
Lack of detailed expense breakdown (program, admin, fundraising) in the provided data, hindering efficiency assessment.
Strengths
Very strong asset base, consistently over $150 million, providing long-term financial stability.
No reported officer compensation, indicating potentially low top-level administrative costs.
History of significant grantmaking activity, implied by substantial expenses relative to assets.
Spending Breakdown
How Wallace Genetic 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 Wallace Genetic Foundation Inc
Is Wallace Genetic Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Wallace Genetic Foundation Inc (EIN: 136162575) appears trustworthy. Mission Score: 70/100. 3 red flags identified, 3 strengths noted.
Is Wallace Genetic Foundation Inc a good charity to donate to?
Wallace Genetic Foundation Inc has a Mission Score of 70/100. Revenue: $0. Assets: $0. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Wallace Genetic Foundation Inc?
The Employer Identification Number (EIN) for Wallace Genetic Foundation Inc is 136162575. 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 Wallace Genetic Foundation Inc spend its money?
Wallace Genetic Foundation Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Wallace Genetic Foundation Inc's tax-exempt status?
You can verify Wallace Genetic Foundation Inc's tax-exempt status using EIN 136162575 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 Genetic Foundation Inc. demonstrates a consistent pattern of significant asset holdings, ranging from $151 million to $198 million over the past five years, indicating a strong endowment base. However, the organization has frequently reported expenses exceeding its revenue, as seen in 2015 ($10.2M expenses vs. $8.1M revenue) and 2014 ($10.6M expenses vs. $5.9M revenue). This suggests a reliance on its substantial assets to cover operational costs and grantmaking, rather than solely on annual income. The absence of reported officer compensation across all filings is a notable aspect of its financial structure, potentially indicating a volunteer leadership or a different compensation model not captured in this metric.
While the provided data lacks a detailed breakdown of program, administrative, and fundraising expenses, the consistent deficit spending raises questions about long-term financial sustainability if not managed strategically through endowment draws. The foundation's primary function appears to be grantmaking, supported by its large asset base. Without more granular expense data, a precise assessment of spending efficiency is challenging, but the zero officer compensation suggests a lean approach to top-level administrative costs.
Overall, the foundation appears financially stable due to its large asset base, but its operational model involves spending more than it earns annually. Transparency regarding the allocation of its expenses (program vs. overhead) would further enhance understanding of its efficiency and impact. The lack of reported revenue and assets for the latest period is concerning and could indicate a delay in reporting or a significant change in its financial status.