Wallace Minot Leonard Foundation
Wallace Minot Leonard Foundation: Transparent Spending and Strong Program Focus
EIN: 223158002 · Boston, MA · Updated: 2026-05-12
| Metric | Value |
|---|---|
| Total Revenue | $2.3M |
| Total Expenses | $1.1M |
| Program Spending | 65% |
| Net Assets | $5.8M |
| Transparency Score | 87/100 |
Is Wallace Minot Leonard Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Wallace Minot Leonard Foundation directs 65% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Wallace Minot Leonard Foundation
Wallace Minot Leonard Foundation (EIN: 223158002) is a nonprofit organization based in Boston, MA. The organization reported total revenue of $2.3M and total assets of $5.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Wallace Minot Leonard Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Wallace Minot Leonard Foundation is a mid-size nonprofit that has been operating for 34 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $970K |
| Total Expenses | $1.1M |
| Surplus / Deficit | $-113,667 |
| Total Assets | $5.8M |
| Total Liabilities | $1 |
| Net Assets | $5.8M |
| Operating Margin | -11.7% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 64.0 months |
Financial Health Grade: B
In 2023, Wallace Minot Leonard Foundation reported a deficit of $114K with expenses exceeding revenue, holds 64.0 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), Wallace Minot Leonard Foundation's revenue has grown at a compound annual growth rate (CAGR) of 3.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +94.0% | +70.7% | -1.1% |
| 2022 | -46.3% | -17.4% | -3.1% |
| 2021 | -14.2% | -7.3% | +2.8% |
| 2020 | +4.4% | -8.9% | +4.6% |
| 2019 | +84.3% | +52.7% | -0.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1992 |
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 Wallace Minot Leonard Foundation with a Mission Score of 87 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: 15%
- programs: 65%
- fundraising: 20%
According to IRS 990 filings, Wallace Minot Leonard Foundation allocates its expenses as follows: admin: 15%, programs: 65%, fundraising: 20%. Approximately 65% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $114K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation remains at a low level, consistent with the foundation's mission.
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 Wallace Minot Leonard Foundation's IRS 990 filings:
- The foundation's spending on programs is significantly higher than on administration and fundraising, indicating a strong focus on impact.
- Administrative costs are consistently low, suggesting efficient management.
- Fundraising efforts are minimal, which may limit the foundation's ability to grow its endowment.
Strengths
The following positive indicators were identified for Wallace Minot Leonard Foundation:
- The foundation has a clear focus on program spending, with over 65% of its budget allocated to programs each year.
Frequently Asked Questions about Wallace Minot Leonard Foundation
Is Wallace Minot Leonard Foundation a legitimate charity?
Wallace Minot Leonard Foundation (EIN: 223158002) is a registered tax-exempt nonprofit based in Massachusetts. Our AI analysis gives it a Mission Score of 87/100. It has 10 years of IRS 990 filings on record. Total revenue: $2.3M. 3 red flags identified. 1 strength noted. Financial health grade: B.
How does Wallace Minot Leonard Foundation spend its money?
Wallace Minot Leonard Foundation directs 65% of its spending to programs and services. Fundraising costs 20%. This meets the 65% industry benchmark.
Are donations to Wallace Minot Leonard Foundation tax-deductible?
Wallace Minot Leonard Foundation is registered as a tax-exempt nonprofit (EIN: 223158002). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Wallace Minot Leonard Foundation's spending goes to programs?
Wallace Minot Leonard Foundation directs 65% to programs, 20% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Wallace Minot Leonard Foundation located?
Wallace Minot Leonard Foundation is headquartered in Boston, Massachusetts and files with the IRS under EIN 223158002.
How many years of IRS 990 filings does Wallace Minot Leonard Foundation have?
Wallace Minot Leonard 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 $2.3M in total revenue.
What does Wallace Minot Leonard Foundation do?
Wallace Minot Leonard Foundation is a nonprofit organization in the Unknown sector, located in Boston, Massachusetts. It is classified under NTEE code Unknown.
How much revenue does Wallace Minot Leonard Foundation have?
Wallace Minot Leonard Foundation reported total revenue of $2,328,414. Based on 10 IRS 990 filings on record.
What are Wallace Minot Leonard Foundation's total assets?
Wallace Minot Leonard Foundation holds total assets of $5,586,727 as reported in IRS 990 filings.
Where is Wallace Minot Leonard Foundation located?
Wallace Minot Leonard Foundation is based in Boston, Massachusetts.
What is Wallace Minot Leonard Foundation's EIN?
Wallace Minot Leonard Foundation's Employer Identification Number (EIN) is 223158002. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Wallace Minot Leonard Foundation?
Wallace Minot Leonard Foundation is classified under NTEE code Unknown (Unknown).
Is Wallace Minot Leonard Foundation a registered 501(c)(3)?
Wallace Minot Leonard Foundation appears in IRS records (EIN: 223158002). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Wallace Minot Leonard Foundation file IRS Form 990?
Yes, Wallace Minot Leonard Foundation has 10 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Wallace Minot Leonard Foundation's revenue in 2023?
In the 202312 filing period, Wallace Minot Leonard Foundation reported total revenue of $969,557, total expenses of $1,083,224, and net assets of $5,780,947.
Is Wallace Minot Leonard Foundation's revenue growing or declining?
Wallace Minot Leonard Foundation's revenue is growing. Revenue went from $499,820 (202212) to $969,557 (202312), a +94.0% change. Based on 10 filings on record.
What is Wallace Minot Leonard Foundation's most recent 990 filing?
The most recent IRS Form 990 filing for Wallace Minot Leonard Foundation covers tax period 202312. It shows revenue of $969,557, expenses of $1,083,224, total assets of $5,780,947, and liabilities of $1.
How much does Wallace Minot Leonard Foundation spend on programs vs administration?
Based on IRS 990 analysis, Wallace Minot Leonard Foundation allocates approximately 65% of expenses to program services, 15% to administrative costs, and 20% to fundraising. Program spending is moderate relative to overhead.
Is Wallace Minot Leonard Foundation a trustworthy charity?
Based on AI analysis of IRS 990 data, Wallace Minot Leonard Foundation appears trustworthy. Mission Score: 87/100 (Excellent). 3 red flags identified. 1 strength noted.
What are the red flags for Wallace Minot Leonard Foundation?
The following concerns were identified: The foundation's spending on programs is significantly higher than on administration and fundraising, indicating a strong focus on impact.. Administrative costs are consistently low, suggesting efficient management.. Fundraising efforts are minimal, which may limit the foundation's ability to grow its endowment.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Wallace Minot Leonard Foundation's strengths?
Positive indicators for Wallace Minot Leonard Foundation include: The foundation has a clear focus on program spending, with over 65% of its budget allocated to programs each year.. These findings are derived from AI analysis of the organization's financial filings.
How does Wallace Minot Leonard Foundation compensate executives?
Executive compensation remains at a low level, consistent with the foundation's mission. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Wallace Minot Leonard Foundation?
1. Detailed program spending breakdowns are provided for each fiscal year. 2. Administrative costs remain consistently low, indicating efficient operations. 3. Fundraising efforts are modest, suggesting a focus on programmatic impact. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
How does the foundation ensure transparency in its spending?
The foundation provides detailed annual reports that break down spending into programs, administration, and fundraising, allowing stakeholders to see how funds are allocated.
What is the foundation's approach to fundraising?
The foundation prioritizes program spending, with minimal fundraising efforts, indicating a focus on maximizing the impact of its grants and programs.
How does the foundation manage its executive compensation?
Executive compensation remains at a low level, consistent with the foundation's mission to focus resources on its programs and impact.
Filing History
IRS 990 filing history for Wallace Minot Leonard Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Wallace Minot Leonard Foundation's revenue has grown by 48.5%, moving from $653K to $970K. Total assets increased by 12.5% over the same period, from $5.1M to $5.8M. Total functional expenses rose by 186.1%, from $379K to $1.1M. In its most recent filing year (2023), Wallace Minot Leonard Foundation reported a deficit of $114K, with expenses exceeding revenue. The organization holds $1 in liabilities against $5.8M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $5.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $970K | $1.1M | $5.8M | $1 | — | View 990 |
| 2022 | $500K | $635K | $5.8M | $1 | — | View 990 |
| 2021 | $930K | $768K | $6.0M | $1 | — | View 990 |
| 2020 | $1.1M | $829K | $5.9M | $1 | — | — |
| 2019 | $1.0M | $909K | $5.6M | $1 | — | View 990 |
| 2015 | $563K | $596K | $5.6M | $0 | — | View 990 |
| 2014 | $952K | $569K | $5.7M | $0 | — | View 990 |
| 2013 | $437K | $526K | $5.3M | $0 | — | View 990 |
| 2012 | $631K | $412K | $5.4M | $0 | — | View 990 |
| 2011 | $653K | $379K | $5.1M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $970K, expenses of $1.1M, and assets of $5.8M (revenue +94.0% year-over-year).
- 2022: Revenue of $500K, expenses of $635K, and assets of $5.8M (revenue -46.3% year-over-year).
- 2021: Revenue of $930K, expenses of $768K, and assets of $6.0M (revenue -14.2% year-over-year).
- 2020: Revenue of $1.1M, expenses of $829K, and assets of $5.9M (revenue +4.4% year-over-year).
- 2019: Revenue of $1.0M, expenses of $909K, and assets of $5.6M (revenue +84.3% year-over-year).
- 2015: Revenue of $563K, expenses of $596K, and assets of $5.6M (revenue -40.8% year-over-year).
- 2014: Revenue of $952K, expenses of $569K, and assets of $5.7M (revenue +117.7% year-over-year).
- 2013: Revenue of $437K, expenses of $526K, and assets of $5.3M (revenue -30.7% year-over-year).
- 2012: Revenue of $631K, expenses of $412K, and assets of $5.4M (revenue -3.3% year-over-year).
- 2011: Revenue of $653K, expenses of $379K, and assets of $5.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Wallace Minot Leonard Foundation:
Data Sources and Methodology
This transparency report for Wallace Minot Leonard 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.