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.