Vern And Marva Wolcott Charitable Foundation
Vern And Marva Wolcott Charitable Foundation consistently directs 90% of expenses to programs with no officer compensation, despite recent negative revenue.
EIN: 202221859 · Salt Lake City, UT · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.4M |
| Total Expenses | $486K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $8,796,936. |
| Net Assets | $8.7M |
| Transparency Score | 92/100 |
Is Vern And Marva Wolcott Charitable Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Vern And Marva Wolcott Charitable Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Vern And Marva Wolcott Charitable Foundation
Vern And Marva Wolcott Charitable Foundation (EIN: 202221859) is a nonprofit organization based in Salt Lake City, UT, classified under NTEE code T20. The organization reported total revenue of $4.4M and total assets of $8.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Vern And Marva Wolcott Charitable Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Vern And Marva Wolcott Charitable Foundation is a mid-size nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2012–2023).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -177.3% | -8.0% | -13.7% |
| 2022 | +133.2% | +1.4% | +13.4% |
| 2021 | +0.2% | +8.9% | -2.7% |
| 2020 | -13.2% | -13.5% | +13.1% |
| 2019 | +724.3% | +985.1% | +160601.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Vern And Marva Wolcott Charitable Foundation 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Vern And Marva Wolcott Charitable Foundation allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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:
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officer salaries are paid, which is highly favorable for a foundation of its size with assets of $8,796,936.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Vern And Marva Wolcott Charitable Foundation's IRS 990 filings:
- Negative revenue reported in the 202302 period ($-656,724) without further explanation.
Strengths
The following positive indicators were identified for Vern And Marva Wolcott Charitable Foundation:
- Consistently high program spending ratio (90% in 202302).
- Zero officer compensation reported across all filings.
- Minimal liabilities ($1 across all periods) indicating strong financial health.
- Significant growth in assets over the past decade, from $3,549 to $8,796,936.
- Consistent IRS 990 filing history demonstrating transparency.
Frequently Asked Questions about Vern And Marva Wolcott Charitable Foundation
Is Vern And Marva Wolcott Charitable Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Vern And Marva Wolcott Charitable Foundation (EIN: 202221859) some concerns. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
How does Vern And Marva Wolcott Charitable Foundation spend its money?
Vern And Marva Wolcott Charitable Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Vern And Marva Wolcott Charitable Foundation tax-deductible?
Vern And Marva Wolcott Charitable Foundation is registered as a tax-exempt nonprofit (EIN: 202221859). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Vern And Marva Wolcott Charitable Foundation CEO make?
Vern And Marva Wolcott Charitable Foundation's highest-compensated officer earns $8,796,936. annually. The organization reported $4.4M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Vern And Marva Wolcott Charitable Foundation compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Vern And Marva Wolcott Charitable Foundation is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Vern And Marva Wolcott Charitable Foundation located?
Vern And Marva Wolcott Charitable Foundation is headquartered in Salt Lake City, Utah and files with the IRS under EIN 202221859. It is classified under NTEE code T20.
How many years of IRS 990 filings does Vern And Marva Wolcott Charitable Foundation have?
Vern And Marva Wolcott Charitable Foundation 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 $4.4M in total revenue.
Is Vern And Marva Wolcott Charitable Foundation a good charity?
Based on the provided data, the foundation appears to be a good charity. It consistently allocates a very high percentage (90% in 202302) of its expenses to program services and reports 0% officer compensation, indicating strong financial efficiency and a clear focus on its mission.
What caused the negative revenue of $-656,724 in the 202302 period?
The provided data does not specify the exact cause of the negative revenue. This could be due to investment losses, significant asset write-downs, or other non-operating adjustments. Further investigation into the detailed financial statements would be needed to understand this specific event.
How does the foundation manage its administrative costs?
With 90% of expenses going to programs and 0% to fundraising, the remaining 10% is allocated to administrative costs. This indicates efficient management of overhead, especially considering the foundation's asset base.
What is the long-term trend of the foundation's assets?
The foundation's assets have grown significantly over time, from $3,549 in 201202 to $8,796,936 in the latest period, demonstrating substantial growth and financial stability, despite some year-to-year fluctuations.
Filing History
IRS 990 filing history for Vern And Marva Wolcott Charitable Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2012–2023), Vern And Marva Wolcott Charitable Foundation's revenue has declined by 1417.5%, moving from $50K to $-656,724. Total assets increased by 244323.1% over the same period, from $4K to $8.7M. Total functional expenses rose by 715.1%, from $60K to $486K. The organization holds $1 in liabilities against $8.7M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $8.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $-656,724 | $486K | $8.7M | $1 | — | View 990 |
| 2022 | $849K | $528K | $10.0M | $1 | — | View 990 |
| 2021 | $364K | $521K | $8.9M | $1 | — | View 990 |
| 2020 | $364K | $479K | $9.1M | $1 | — | View 990 |
| 2019 | $419K | $554K | $8.1M | $1 | — | View 990 |
| 2016 | $51K | $51K | $5K | $1 | — | View 990 |
| 2015 | $52K | $52K | $5K | $1 | — | View 990 |
| 2014 | $52K | $51K | $5K | $1 | — | View 990 |
| 2013 | $52K | $51K | $4K | $1 | — | View 990 |
| 2012 | $50K | $60K | $4K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $-656,724, expenses of $486K, and assets of $8.7M (revenue -177.3% year-over-year).
- 2022: Revenue of $849K, expenses of $528K, and assets of $10.0M (revenue +133.2% year-over-year).
- 2021: Revenue of $364K, expenses of $521K, and assets of $8.9M (revenue +0.2% year-over-year).
- 2020: Revenue of $364K, expenses of $479K, and assets of $9.1M (revenue -13.2% year-over-year).
- 2019: Revenue of $419K, expenses of $554K, and assets of $8.1M (revenue +724.3% year-over-year).
- 2016: Revenue of $51K, expenses of $51K, and assets of $5K (revenue -2.1% year-over-year).
- 2015: Revenue of $52K, expenses of $52K, and assets of $5K (revenue -0.9% year-over-year).
- 2014: Revenue of $52K, expenses of $51K, and assets of $5K (revenue +0.8% year-over-year).
- 2013: Revenue of $52K, expenses of $51K, and assets of $4K (revenue +4.3% year-over-year).
- 2012: Revenue of $50K, expenses of $60K, and assets of $4K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Vern And Marva Wolcott Charitable Foundation:
Data Sources and Methodology
This transparency report for Vern And Marva Wolcott Charitable 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.