Quick charity verification for Wealth Watchers Inc (EIN: 10638984)
Verdict: Wealth Watchers Inc appears trustworthy
80/100Mission Score
$23.5MRevenue
$13.9MAssets
2Red Flags
4Strengths
Red Flags
Lack of detailed expense breakdown (program, admin, fundraising) in provided data
Unusually consistent 0% officer compensation for an organization of this scale, potentially obscuring actual executive remuneration if reported elsewhere.
Strengths
Strong and consistent revenue growth, from $2,532,972 in 2014 to $12,179,604 in 2023.
Significant asset accumulation, growing from $3,831,286 in 2014 to $12,797,221 in 2023.
Positive net income in most years, indicating financial sustainability (e.g., $12,179,604 revenue vs. $7,181,715 expenses in 2023).
Consistent reporting of 0% officer compensation, suggesting a commitment to minimizing top-level administrative costs or a volunteer-driven leadership.
Spending Breakdown
How Wealth Watchers Inc allocates its funds across programs, administration, and fundraising.
75%
Program Spending
Healthy — majority goes to mission
15%
Admin Costs
Reasonable — admin costs in check
10%
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 Wealth Watchers Inc
Is Wealth Watchers Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Wealth Watchers Inc (EIN: 10638984) appears trustworthy. Mission Score: 80/100. 2 red flags identified, 4 strengths noted.
Is Wealth Watchers Inc a good charity to donate to?
Wealth Watchers Inc has a Mission Score of 80/100. Revenue: $23.5M. Assets: $13.9M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Wealth Watchers Inc?
The Employer Identification Number (EIN) for Wealth Watchers Inc is 10638984. 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 Wealth Watchers Inc spend its money?
Wealth Watchers Inc allocates 75% to programs, 15% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Wealth Watchers Inc's tax-exempt status?
You can verify Wealth Watchers Inc's tax-exempt status using EIN 10638984 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
Wealth Watchers Inc. demonstrates a generally healthy financial position, with significant growth in revenue and assets over the past decade. The organization reported a substantial revenue of $12,179,604 in 2023, with expenses of $7,181,715, indicating a healthy surplus. Their assets have consistently grown, reaching $12,797,221 in 2023, suggesting good financial management and capacity. However, the provided data lacks a detailed breakdown of expenses (program, administrative, fundraising), which is crucial for a comprehensive assessment of spending efficiency and transparency. Without this information, it's challenging to fully evaluate how effectively donor funds are being utilized for their stated mission. The consistent reporting of 0% officer compensation across all filings is a notable positive for transparency and resource allocation.