The Watt Family Foundation
The Watt Family Foundation faces significant financial challenges with declining revenue and persistent spending exceeding income, drawing down assets.
EIN: 133373456 · Riverside, CT · Updated: 2026-03-28
Is The Watt Family Foundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Watt Family Foundation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About The Watt Family Foundation
The Watt Family Foundation (EIN: 133373456) is a nonprofit organization based in Riverside, CT. The organization reported total revenue of $357K and total assets of $253K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Watt Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates The Watt Family Foundation with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, The Watt Family Foundation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that no officers or key employees are receiving salaries from the organization, which is a strong positive for resource allocation.
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.
Red Flags
The following concerns were identified during AI analysis of The Watt Family Foundation's IRS 990 filings:
- Persistent operational deficits, with expenses significantly exceeding revenue in multiple recent years (e.g., 2023: $122,066 expenses vs. $12,608 revenue).
- Significant decline in total assets over recent years, from $410,368 in 2019 to $214,595 in 2023, indicating unsustainable spending.
- Sharp and consistent decrease in revenue from $225,857 in 2019 to $12,608 in 2023, raising concerns about funding sources.
- Negative revenue reported in earlier years (e.g., $-11,776 in 2012, $-15,756 in 2011), which could indicate investment losses or unusual accounting.
Strengths
The following positive indicators were identified for The Watt Family Foundation:
- Consistent reporting of 0% officer compensation across all available filings, indicating no executive salaries are paid.
- Low liabilities reported in most periods, suggesting minimal debt burden (e.g., $1 in 2023, $1 in 2022).
Frequently Asked Questions about The Watt Family Foundation
Is The Watt Family Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, The Watt Family Foundation (EIN: 133373456) significant concerns. Mission Score: 45/100. 4 red flags identified, 2 strengths noted.
How does The Watt Family Foundation spend its money?
The Watt Family Foundation directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to The Watt Family Foundation tax-deductible?
The Watt Family Foundation is registered as a tax-exempt nonprofit (EIN: 133373456). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is The Watt Family Foundation financially sustainable?
Based on the provided data, the foundation's financial sustainability is questionable, as expenses have consistently outpaced revenue in recent years (e.g., $122,066 expenses vs. $12,608 revenue in 2023), leading to a significant depletion of assets.
What caused the substantial decline in revenue from 2019 to 2023?
The data shows a sharp drop in revenue from $225,857 in 2019 to $12,608 in 2023. Without further details from the 990 filings, the specific reasons for this decline (e.g., loss of major donors, change in investment strategy, shift in activities) are unclear.
How does the organization cover its operational deficits?
The consistent deficits (e.g., $109,458 deficit in 2023) suggest the organization is covering its expenses by drawing down its asset base, which has decreased from $410,368 in 2019 to $214,595 in 2023.
Filing History
IRS 990 filing history for The Watt Family Foundation showing financial trends over 10 years of public records:
Total assets increased by 6.2% over the same period, from $202K to $215K. Total functional expenses rose by 437.6%, from $23K to $122K. In its most recent filing year (2023), The Watt Family Foundation reported a deficit of $109K, with expenses exceeding revenue. The organization holds $1 in liabilities against $215K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $215K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $13K | $122K | $215K | $1 | — | View 990 |
| 2022 | $20K | $71K | $324K | $1 | — | View 990 |
| 2021 | $71K | $73K | $376K | $1 | — | View 990 |
| 2020 | $76K | $105K | $377K | $1 | — | — |
| 2019 | $226K | $132K | $410K | $5K | — | View 990 |
| 2015 | $258K | $157K | $355K | $0 | — | View 990 |
| 2014 | $234K | $202K | $254K | $0 | — | View 990 |
| 2013 | $175K | $103K | $222K | $0 | — | View 990 |
| 2012 | $-11,776 | $41K | $150K | $0 | — | View 990 |
| 2011 | $-15,756 | $23K | $202K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $13K, expenses of $122K, and assets of $215K (revenue -35.7% year-over-year).
- 2022: Revenue of $20K, expenses of $71K, and assets of $324K (revenue -72.5% year-over-year).
- 2021: Revenue of $71K, expenses of $73K, and assets of $376K (revenue -6.2% year-over-year).
- 2020: Revenue of $76K, expenses of $105K, and assets of $377K (revenue -66.4% year-over-year).
- 2019: Revenue of $226K, expenses of $132K, and assets of $410K (revenue -12.5% year-over-year).
- 2015: Revenue of $258K, expenses of $157K, and assets of $355K (revenue +10.3% year-over-year).
- 2014: Revenue of $234K, expenses of $202K, and assets of $254K (revenue +33.4% year-over-year).
- 2013: Revenue of $175K, expenses of $103K, and assets of $222K.
- 2012: Revenue of $-11,776, expenses of $41K, and assets of $150K.
- 2011: Revenue of $-15,756, expenses of $23K, and assets of $202K.
Data Sources and Methodology
This transparency report for The Watt Family Foundation 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.