Quick charity verification for Woodforest Charitable Foundation (EIN: 202516951)
Verdict: Woodforest Charitable Foundation appears trustworthy
90/100Mission Score
$67.5MRevenue
$146.6MAssets
2Red Flags
5Strengths
Red Flags
Unusually low reported expenses relative to revenue in some years, potentially indicating significant investment activities or deferred program spending that isn't immediately clear from top-line numbers.
The consistent 0% officer compensation, while positive for efficiency, is highly unusual for an organization of this scale and could warrant further inquiry into how leadership is compensated or if services are provided pro bono by affiliated entities.
Strengths
Consistent and substantial asset growth, from $17.2M in 2011 to $133.2M in 2023, demonstrating strong financial health.
Zero reported officer compensation across all filings, indicating a high degree of efficiency and dedication of funds to the mission.
Very low liabilities relative to assets, suggesting sound financial management and minimal debt burden.
Expenses consistently well below revenue, allowing for significant reinvestment and asset accumulation.
Strong financial stability over more than a decade, with a clear upward trajectory in financial capacity.
Spending Breakdown
How Woodforest Charitable Foundation allocates its funds across programs, administration, and fundraising.
95%
Program Spending
Healthy — majority goes to mission
5%
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 Woodforest Charitable Foundation
Is Woodforest Charitable Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Woodforest Charitable Foundation (EIN: 202516951) appears trustworthy. Mission Score: 90/100. 2 red flags identified, 5 strengths noted.
Is Woodforest Charitable Foundation a good charity to donate to?
Woodforest Charitable Foundation has a Mission Score of 90/100. Revenue: $67.5M. Assets: $146.6M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Woodforest Charitable Foundation?
The Employer Identification Number (EIN) for Woodforest Charitable Foundation is 202516951. 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 Woodforest Charitable Foundation spend its money?
Woodforest Charitable Foundation allocates 95% to programs, 5% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Woodforest Charitable Foundation's tax-exempt status?
You can verify Woodforest Charitable Foundation's tax-exempt status using EIN 202516951 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
Woodforest Charitable Foundation demonstrates strong financial health with consistently growing assets, reaching $133,212,930 in 2023. The organization maintains a very low liability profile, indicating sound financial management and minimal debt. Their revenue has fluctuated over the years, with a notable increase in 2023 to $10,404,698, and expenses generally remaining well below revenue, allowing for asset growth. The foundation's consistent reporting of 0% officer compensation across all filings suggests a high degree of transparency regarding executive pay and a focus on directing funds towards its mission rather than administrative overhead.
The spending efficiency appears robust, as evidenced by the significant difference between revenue and expenses in most years, allowing for substantial asset accumulation. For instance, in 2023, expenses were $9,472,426 against revenues of $10,404,698. The NTEE code T22 (Grantmaking Foundations) implies that a significant portion of their expenses would be in the form of grants to other organizations, which is a direct program activity. The absence of officer compensation further enhances their efficiency profile.
Overall, Woodforest Charitable Foundation exhibits a healthy financial position, efficient spending practices, and a high level of transparency, particularly concerning executive compensation. The consistent growth in assets over more than a decade, from $17,259,442 in 2011 to $133,212,930 in 2023, underscores its long-term financial stability and capacity to fulfill its philanthropic objectives.