Is Wallace State Community College Future Foundation Inc Legit?
Quick charity verification for Wallace State Community College Future Foundation Inc (EIN: 201438564)
Verdict: Wallace State Community College Future Foundation Inc appears trustworthy
95/100Mission Score
$2.4MRevenue
$8.2MAssets
1Red Flags
5Strengths
Red Flags
Lack of detailed expense breakdown in provided data makes precise program vs. admin spending difficult to ascertain beyond officer compensation.
Strengths
Consistent asset growth, from $2.39M in 2015 to $8.17M in 2024.
Zero officer compensation reported across all 14 filings, indicating high dedication to mission.
Strong revenue generation, with latest revenue at $2,370,455.
Minimal to no liabilities reported in most fiscal periods, indicating sound financial management.
Expenses consistently lower than revenue in most years, contributing to asset accumulation.
Spending Breakdown
How Wallace State Community College Future Foundation Inc 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 Wallace State Community College Future Foundation Inc
Is Wallace State Community College Future Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Wallace State Community College Future Foundation Inc (EIN: 201438564) appears trustworthy. Mission Score: 95/100. 1 red flag identified, 5 strengths noted.
Is Wallace State Community College Future Foundation Inc a good charity to donate to?
Wallace State Community College Future Foundation Inc has a Mission Score of 95/100. Revenue: $2.4M. Assets: $8.2M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Wallace State Community College Future Foundation Inc?
The Employer Identification Number (EIN) for Wallace State Community College Future Foundation Inc is 201438564. 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 State Community College Future Foundation Inc spend its money?
Wallace State Community College Future Foundation Inc allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Wallace State Community College Future Foundation Inc's tax-exempt status?
You can verify Wallace State Community College Future Foundation Inc's tax-exempt status using EIN 201438564 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
Wallace State Community College Future Foundation Inc demonstrates strong financial health and a clear commitment to its mission, as evidenced by its consistent growth in assets and efficient spending. Over the past decade, the organization's assets have grown significantly from $2,393,803 in 2015 to $8,175,254 in 2024, indicating robust financial management and successful fundraising efforts. The foundation consistently reports 0% officer compensation, which is a strong indicator of transparency and a focus on directing resources towards its programs rather than administrative overhead.
The organization's spending efficiency is commendable. For instance, in the 2024 fiscal period, with revenues of $1,119,177 and expenses of $789,080, a substantial portion of its expenditures likely went directly to program services, given the absence of officer compensation. The foundation's NTEE code B114 (Scholarship & Financial Aid) aligns well with its operational patterns, suggesting that funds are primarily used to support educational initiatives. The consistent lack of liabilities across most years further underscores its sound financial practices.
Overall, the Wallace State Community College Future Foundation Inc appears to be a well-managed and transparent organization. Its financial trajectory shows sustained growth and a prudent approach to resource allocation, making it an effective steward of donor funds. The consistent reporting of zero officer compensation across all available filings is a particularly strong positive indicator of its commitment to its mission.