Waitt Institute

Waitt Institute shows strong revenue growth but frequently operates with expenses exceeding annual income, with no reported officer compensation.

EIN: 203274586 · N Sioux City, SD · NTEE: A05 · Updated: 2026-03-28

$12.9MRevenue

$787KAssets

92/100Mission Score (Excellent)

A05

About Waitt Institute

Waitt Institute (EIN: 203274586) is a nonprofit organization based in N Sioux City, SD, classified under NTEE code A05. The organization reported total revenue of $12.9M and total assets of $787K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Waitt Institute's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Waitt Institute demonstrates a generally healthy financial trajectory, with significant growth in revenue and expenses over the past decade, indicating an expansion of its operations. For instance, revenue grew from $504,797 in 2011 to $7,937,219 in 2023. The organization consistently reports 0% officer compensation, which is a strong indicator of transparency and a commitment to directing funds towards its mission rather than executive salaries. However, the organization has frequently operated with expenses exceeding revenue, as seen in 2023 ($8,360,204 expenses vs. $7,937,219 revenue) and several prior years, which could suggest reliance on prior year reserves or other funding sources not fully captured in annual revenue figures. While assets have fluctuated, they have generally remained robust enough to cover liabilities, with a healthy asset-to-liability ratio in recent years (e.g., $1,578,619 assets vs. $995,343 liabilities in 2023). The consistent reporting of 0% officer compensation across all available filings is a significant positive for transparency and public trust.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Waitt Institute 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: 5%
programs: 90%
fundraising: 5%

According to IRS 990 filings, Waitt Institute allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

The Waitt Institute consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers, which is highly unusual and suggests a strong commitment to minimizing administrative overhead at the executive level.

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 Waitt Institute's IRS 990 filings:

Frequent annual expenses exceeding revenue, as seen in 2023 ($8,360,204 expenses vs. $7,937,219 revenue), which could indicate reliance on reserves or other funding not reflected in annual revenue.

Strengths

The following positive indicators were identified for Waitt Institute:

Consistent reporting of 0% officer compensation across all filings, indicating high efficiency and transparency regarding executive pay.
Significant revenue growth over the past decade, from $504,797 in 2011 to $7,937,219 in 2023, demonstrating expanding capacity and impact.
Healthy asset-to-liability ratio, with assets consistently exceeding liabilities (e.g., $1,578,619 assets vs. $995,343 liabilities in 2023), indicating financial stability.

Frequently Asked Questions about Waitt Institute

Is Waitt Institute a good charity?

Based on the available data, the Waitt Institute appears to be a good charity. It demonstrates strong program focus by reporting 0% officer compensation, indicating that funds are not diverted to executive salaries. Its revenue has grown significantly, suggesting increasing impact, and it maintains a healthy asset-to-liability ratio.

How does Waitt Institute fund its operations when expenses exceed revenue?

The filings show that expenses frequently exceed annual revenue (e.g., $8,360,204 expenses vs. $7,937,219 revenue in 2023). This suggests the organization likely relies on accumulated reserves, endowment drawdowns, or other non-operating income sources not detailed in the summary revenue figures to cover its operational costs.

What is the trend in the Waitt Institute's financial health?

The Waitt Institute has shown significant growth in revenue and expenses over the past decade, indicating an expanding operational scope. While it frequently spends more than it earns in a given year, its assets have generally been sufficient to cover liabilities, suggesting a stable, albeit growth-oriented, financial position.

Filing History

IRS 990 filing history for Waitt Institute showing financial trends over 10 years of public records:

Over 10 years of IRS 990 filings (2011–2023), Waitt Institute's revenue has grown by 1472.4%, moving from $505K to $7.9M. Total assets decreased by 72.8% over the same period, from $5.8M to $1.6M. Total functional expenses rose by 519.8%, from $1.3M to $8.4M. In its most recent filing year (2023), Waitt Institute reported a deficit of $423K, with expenses exceeding revenue. The organization holds $995K in liabilities against $1.6M in assets (debt-to-asset ratio: 63.1%), resulting in net assets of $583K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$7.9M	$8.4M	$1.6M	$995K	—	—
2022	$6.8M	$6.6M	$1.8M	$755K	—	View 990
2021	$5.5M	$4.9M	$1.2M	$426K	—	View 990
2020	$2.0M	$3.3M	$548K	$341K	—	View 990
2019	$1.5M	$2.3M	$1.7M	$215K	—	View 990
2015	$624K	$2.3M	$2.8M	$313K	—	View 990
2014	$19K	$1.5M	$4.3M	$97K	—	View 990
2013	$1.9M	$1.6M	$5.8M	$69K	—	View 990
2012	$263K	$2.1M	$4.1M	$240K	—	View 990
2011	$505K	$1.3M	$5.8M	$58K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $7.9M, expenses of $8.4M, and assets of $1.6M (revenue +16.1% year-over-year).
2022: Revenue of $6.8M, expenses of $6.6M, and assets of $1.8M (revenue +25.2% year-over-year).
2021: Revenue of $5.5M, expenses of $4.9M, and assets of $1.2M (revenue +171.7% year-over-year).
2020: Revenue of $2.0M, expenses of $3.3M, and assets of $548K (revenue +31.7% year-over-year).
2019: Revenue of $1.5M, expenses of $2.3M, and assets of $1.7M (revenue +144.5% year-over-year).
2015: Revenue of $624K, expenses of $2.3M, and assets of $2.8M (revenue +3163.3% year-over-year).
2014: Revenue of $19K, expenses of $1.5M, and assets of $4.3M (revenue -99.0% year-over-year).
2013: Revenue of $1.9M, expenses of $1.6M, and assets of $5.8M (revenue +621.0% year-over-year).
2012: Revenue of $263K, expenses of $2.1M, and assets of $4.1M (revenue -47.9% year-over-year).
2011: Revenue of $505K, expenses of $1.3M, and assets of $5.8M.

Data Sources and Methodology

This transparency report for Waitt Institute 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.