Thistle Waithe Learning Center Inc

Thistle Waithe Learning Center Inc consistently operates with a surplus and reports no officer compensation.

EIN: 134140165 · Katonah, NY · NTEE: B99 · Updated: 2026-03-28

$2.1MRevenue

$2.6MAssets

92/100Mission Score (Excellent)

B99

About Thistle Waithe Learning Center Inc

Thistle Waithe Learning Center Inc (EIN: 134140165) is a nonprofit organization based in Katonah, NY, classified under NTEE code B99. The organization reported total revenue of $2.1M and total assets of $2.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Thistle Waithe Learning Center Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Thistle Waithe Learning Center Inc demonstrates consistent financial health with a positive net income in most recent years. In 2023, the organization reported revenues of $2,095,760 against expenses of $2,004,771, indicating a surplus. The organization's assets have shown steady growth, reaching $2,618,483 in 2023, while liabilities remain very low at $8,763, suggesting strong financial stability and minimal debt burden. The absence of reported officer compensation across all available filings is a significant indicator of transparency and a commitment to directing funds towards its mission, rather than executive salaries. This practice, combined with a healthy asset-to-liability ratio, points to a well-managed and financially sound nonprofit.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Thistle Waithe Learning Center Inc with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 7%
programs: 90%
fundraising: 3%

According to IRS 990 filings, Thistle Waithe Learning Center Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, which is highly unusual for an organization of this size with over $2 million in annual revenue and $2.6 million in assets. This suggests either a fully volunteer-led executive team or that compensation is reported under different categories, warranting further investigation for complete transparency.

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 Thistle Waithe Learning Center Inc's IRS 990 filings:

Unusually low liabilities relative to assets, potentially indicating conservative accounting or minimal operational debt.
Consistent 0% officer compensation, which is atypical for an organization of this scale and warrants deeper inquiry into how leadership is compensated or structured.

Strengths

The following positive indicators were identified for Thistle Waithe Learning Center Inc:

Consistent positive net income, with 2023 revenue ($2,095,760) exceeding expenses ($2,004,771).
Strong financial stability with low liabilities ($8,763 in 2023) compared to assets ($2,618,483).
Healthy growth in revenue over the past decade, from $1,446,783 in 2014 to $2,095,760 in 2023.
No reported officer compensation, suggesting a high dedication of funds to programmatic activities or a volunteer-led executive structure.

Frequently Asked Questions about Thistle Waithe Learning Center Inc

How does Thistle Waithe Learning Center Inc manage to operate without reporting any officer compensation?

The IRS 990 filings consistently show 0% officer compensation. This could indicate a fully volunteer-led executive team, or that executive roles are compensated through other means not categorized as 'officer compensation' on the 990, such as through a related management entity or as general staff salaries. Further detail would require reviewing the full 990 forms.

What is the trend in the organization's net assets over time?

The organization's net assets have generally increased over the past decade. While there was a dip in assets from $3,265,149 in 2021 to $2,488,559 in 2022, they rebounded to $2,618,483 in 2023, indicating overall growth and financial health.

Is the organization's revenue growth sustainable?

Revenue has shown a positive trend, increasing from $1,446,783 in 2014 to $2,095,760 in 2023. While there are fluctuations, the overall upward trajectory suggests sustainable growth, particularly with consistent surpluses.

Filing History

IRS 990 filing history for Thistle Waithe Learning Center Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Thistle Waithe Learning Center Inc's revenue has grown by 89.2%, moving from $1.1M to $2.1M. Total assets increased by 71.5% over the same period, from $1.5M to $2.6M. Total functional expenses rose by 136.8%, from $847K to $2.0M. In its most recent filing year (2023), Thistle Waithe Learning Center Inc reported a surplus of $91K, with revenue exceeding expenses. The organization holds $9K in liabilities against $2.6M in assets (debt-to-asset ratio: 0.3%), resulting in net assets of $2.6M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$2.1M	$2.0M	$2.6M	$9K	—	—
2022	$1.8M	$1.8M	$2.5M	$17K	—	—
2021	$1.8M	$1.6M	$3.3M	$15K	—	View 990
2020	$1.1M	$1.3M	$3.0M	$189K	—	—
2019	$1.5M	$1.5M	$3.1M	$8K	—	View 990
2018	$1.6M	$1.4M	$3.1M	$7K	—	View 990
2017	$1.6M	$1.4M	$2.9M	$11K	—	View 990
2016	$1.5M	$1.2M	$2.7M	$12K	—	View 990
2015	$1.5M	$1.2M	$2.5M	$79K	—	View 990
2014	$1.4M	$1.2M	$2.2M	$74K	—	View 990
2013	$1.2M	$1.0M	$1.9M	$66K	—	View 990
2012	$1.1M	$848K	$1.8M	$66K	—	View 990
2011	$1.1M	$847K	$1.5M	$75K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $2.1M, expenses of $2.0M, and assets of $2.6M (revenue +13.8% year-over-year).
2022: Revenue of $1.8M, expenses of $1.8M, and assets of $2.5M (revenue +1.1% year-over-year).
2021: Revenue of $1.8M, expenses of $1.6M, and assets of $3.3M (revenue +71.8% year-over-year).
2020: Revenue of $1.1M, expenses of $1.3M, and assets of $3.0M (revenue -31.2% year-over-year).
2019: Revenue of $1.5M, expenses of $1.5M, and assets of $3.1M (revenue -4.0% year-over-year).
2018: Revenue of $1.6M, expenses of $1.4M, and assets of $3.1M (revenue -0.1% year-over-year).
2017: Revenue of $1.6M, expenses of $1.4M, and assets of $2.9M (revenue +6.9% year-over-year).
2016: Revenue of $1.5M, expenses of $1.2M, and assets of $2.7M (revenue -2.8% year-over-year).
2015: Revenue of $1.5M, expenses of $1.2M, and assets of $2.5M (revenue +6.8% year-over-year).
2014: Revenue of $1.4M, expenses of $1.2M, and assets of $2.2M (revenue +25.7% year-over-year).
2013: Revenue of $1.2M, expenses of $1.0M, and assets of $1.9M (revenue +5.5% year-over-year).
2012: Revenue of $1.1M, expenses of $848K, and assets of $1.8M (revenue -1.5% year-over-year).
2011: Revenue of $1.1M, expenses of $847K, and assets of $1.5M.

Data Sources and Methodology

This transparency report for Thistle Waithe Learning Center 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.