Harold Webster Smith Foundation Inc
Harold Webster Smith Foundation: Consistent Grantmaking, Modest Growth
EIN: 222947047 · Waterbury, CT · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $750K |
| Total Expenses | $278K |
| Program Spending | 85% |
| Net Assets | $6.9M |
| Transparency Score | 75/100 |
Is Harold Webster Smith Foundation Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Harold Webster Smith Foundation Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Harold Webster Smith Foundation Inc
Harold Webster Smith Foundation Inc (EIN: 222947047) is a nonprofit organization based in Waterbury, CT. The organization reported total revenue of $750K and total assets of $7.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Harold Webster Smith Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Harold Webster Smith Foundation Inc is a small nonprofit that has been operating for 37 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -3.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $330K |
| Total Expenses | $278K |
| Surplus / Deficit | +$53K |
| Total Assets | $6.9M |
| Total Liabilities | $1 |
| Net Assets | $6.9M |
| Operating Margin | 16.0% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 298.1 months |
Financial Health Grade: A
In 2023, Harold Webster Smith Foundation Inc reported a surplus of $53K with revenue exceeding expenses, holds 298.1 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Harold Webster Smith Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -3.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +8.7% | -2.9% | +0.8% |
| 2022 | -91.2% | -8.5% | +0.3% |
| 2021 | +430.2% | +1.8% | +86.2% |
| 2020 | +83.0% | -17.6% | +10.5% |
| 2019 | +68.9% | +50.2% | +10.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1989 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Harold Webster Smith Foundation Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Harold Webster Smith Foundation Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $53K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is not reported in the available filings, suggesting it is below the threshold for disclosure or handled by volunteers.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Harold Webster Smith Foundation Inc:
- Consistent grantmaking activity over several years.
- Healthy asset base of $6,893,387 as of 2023.
- Low administrative and fundraising expenses, indicating efficient operations.
Frequently Asked Questions about Harold Webster Smith Foundation Inc
Is Harold Webster Smith Foundation Inc a legitimate charity?
Harold Webster Smith Foundation Inc (EIN: 222947047) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 75/100. It has 10 years of IRS 990 filings on record. Total revenue: $750K. No red flags identified. 3 strengths noted. Financial health grade: A.
How does Harold Webster Smith Foundation Inc spend its money?
Harold Webster Smith Foundation Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Harold Webster Smith Foundation Inc tax-deductible?
Harold Webster Smith Foundation Inc is registered as a tax-exempt nonprofit (EIN: 222947047). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Harold Webster Smith Foundation Inc's spending goes to programs?
Harold Webster Smith Foundation Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Harold Webster Smith Foundation Inc located?
Harold Webster Smith Foundation Inc is headquartered in Waterbury, Connecticut and files with the IRS under EIN 222947047.
How many years of IRS 990 filings does Harold Webster Smith Foundation Inc have?
Harold Webster Smith Foundation Inc has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $750K in total revenue.
What does Harold Webster Smith Foundation Inc do?
Harold Webster Smith Foundation Inc is a nonprofit organization in the Unknown sector, located in Waterbury, Connecticut. It is classified under NTEE code Unknown.
How much revenue does Harold Webster Smith Foundation Inc have?
Harold Webster Smith Foundation Inc reported total revenue of $749,733. Based on 10 IRS 990 filings on record.
What are Harold Webster Smith Foundation Inc's total assets?
Harold Webster Smith Foundation Inc holds total assets of $6,969,332 as reported in IRS 990 filings.
Where is Harold Webster Smith Foundation Inc located?
Harold Webster Smith Foundation Inc is based in Waterbury, Connecticut.
What is Harold Webster Smith Foundation Inc's EIN?
Harold Webster Smith Foundation Inc's Employer Identification Number (EIN) is 222947047. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Harold Webster Smith Foundation Inc?
Harold Webster Smith Foundation Inc is classified under NTEE code Unknown (Unknown).
Is Harold Webster Smith Foundation Inc a registered 501(c)(3)?
Harold Webster Smith Foundation Inc appears in IRS records (EIN: 222947047). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Harold Webster Smith Foundation Inc file IRS Form 990?
Yes, Harold Webster Smith Foundation Inc has 10 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Harold Webster Smith Foundation Inc's revenue in 2023?
In the 202312 filing period, Harold Webster Smith Foundation Inc reported total revenue of $330,440, total expenses of $277,508, and net assets of $6,893,387.
Is Harold Webster Smith Foundation Inc's revenue growing or declining?
Harold Webster Smith Foundation Inc's revenue is growing. Revenue went from $303,920 (202212) to $330,440 (202312), a +8.7% change. Based on 10 filings on record.
What is Harold Webster Smith Foundation Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Harold Webster Smith Foundation Inc covers tax period 202312. It shows revenue of $330,440, expenses of $277,508, total assets of $6,893,387, and liabilities of $1.
How much does Harold Webster Smith Foundation Inc spend on programs vs administration?
Based on IRS 990 analysis, Harold Webster Smith Foundation Inc allocates approximately 85% of expenses to program services, 10% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Harold Webster Smith Foundation Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Harold Webster Smith Foundation Inc appears trustworthy. Mission Score: 75/100 (Good). No red flags identified. 3 strengths noted.
What are Harold Webster Smith Foundation Inc's strengths?
Positive indicators for Harold Webster Smith Foundation Inc include: Consistent grantmaking activity over several years.. Healthy asset base of $6,893,387 as of 2023.. Low administrative and fundraising expenses, indicating efficient operations.. These findings are derived from AI analysis of the organization's financial filings.
How does Harold Webster Smith Foundation Inc compensate executives?
Executive compensation is not reported in the available filings, suggesting it is below the threshold for disclosure or handled by volunteers. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Harold Webster Smith Foundation Inc?
• Financial statements are publicly available through IRS Form 990 filings. • The organization consistently reports zero lobbying expenses. • Detailed program descriptions are somewhat limited in public filings. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
Given the consistent revenue and expense figures, what is the primary mechanism for asset growth, especially the significant jump between 2020 and 2021?
The significant jump in assets from $3,664,886 in 2020 to $6,822,411 in 2021, alongside a corresponding spike in revenue to $3,469,853 in 2021, suggests a substantial one-time donation or investment gain that year, rather than solely operational surpluses.
Filing History
IRS 990 filing history for Harold Webster Smith Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Harold Webster Smith Foundation Inc's revenue has declined by 36.9%, moving from $523K to $330K. Total assets increased by 132.8% over the same period, from $3.0M to $6.9M. Total functional expenses fell by 49.1%, from $546K to $278K. In its most recent filing year (2023), Harold Webster Smith Foundation Inc reported a surplus of $53K, with revenue exceeding expenses. The organization holds $1 in liabilities against $6.9M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $6.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $330K | $278K | $6.9M | $1 | — | — |
| 2022 | $304K | $286K | $6.8M | $1 | — | View 990 |
| 2021 | $3.5M | $312K | $6.8M | $1 | — | View 990 |
| 2020 | $654K | $307K | $3.7M | $1 | — | — |
| 2019 | $358K | $372K | $3.3M | $1 | — | View 990 |
| 2015 | $212K | $248K | $3.0M | $0 | — | View 990 |
| 2014 | $213K | $169K | $3.0M | $0 | — | View 990 |
| 2013 | $251K | $249K | $3.0M | $0 | — | View 990 |
| 2012 | $215K | $172K | $3.0M | $0 | — | View 990 |
| 2011 | $523K | $546K | $3.0M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $330K, expenses of $278K, and assets of $6.9M (revenue +8.7% year-over-year).
- 2022: Revenue of $304K, expenses of $286K, and assets of $6.8M (revenue -91.2% year-over-year).
- 2021: Revenue of $3.5M, expenses of $312K, and assets of $6.8M (revenue +430.2% year-over-year).
- 2020: Revenue of $654K, expenses of $307K, and assets of $3.7M (revenue +83.0% year-over-year).
- 2019: Revenue of $358K, expenses of $372K, and assets of $3.3M (revenue +68.9% year-over-year).
- 2015: Revenue of $212K, expenses of $248K, and assets of $3.0M (revenue -0.5% year-over-year).
- 2014: Revenue of $213K, expenses of $169K, and assets of $3.0M (revenue -15.0% year-over-year).
- 2013: Revenue of $251K, expenses of $249K, and assets of $3.0M (revenue +16.5% year-over-year).
- 2012: Revenue of $215K, expenses of $172K, and assets of $3.0M (revenue -58.9% year-over-year).
- 2011: Revenue of $523K, expenses of $546K, and assets of $3.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Harold Webster Smith Foundation Inc:
Data Sources and Methodology
This transparency report for Harold Webster Smith Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.