Wallace State Community College Future Foundation Inc

Wallace State Community College Future Foundation Inc shows strong asset growth and zero officer compensation over a decade.

EIN: 201438564 · Hanceville, AL · NTEE: B114 · Updated: 2026-03-28

$2.4MRevenue

$8.2MAssets

95/100Mission Score (Excellent)

B114

About Wallace State Community College Future Foundation Inc

Wallace State Community College Future Foundation Inc (EIN: 201438564) is a nonprofit organization based in Hanceville, AL, classified under NTEE code B114. The organization reported total revenue of $2.4M and total assets of $8.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Wallace State Community College Future Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Wallace State Community College Future Foundation Inc demonstrates strong financial health and a clear commitment to its mission, as evidenced by its consistent growth in assets and efficient spending. Over the past decade, the organization's assets have grown significantly from $2,393,803 in 2015 to $8,175,254 in 2024, indicating robust financial management and successful fundraising efforts. The foundation consistently reports 0% officer compensation, which is a strong indicator of transparency and a focus on directing resources towards its programs rather than administrative overhead.

The organization's spending efficiency is commendable. For instance, in the 2024 fiscal period, with revenues of $1,119,177 and expenses of $789,080, a substantial portion of its expenditures likely went directly to program services, given the absence of officer compensation. The foundation's NTEE code B114 (Scholarship & Financial Aid) aligns well with its operational patterns, suggesting that funds are primarily used to support educational initiatives. The consistent lack of liabilities across most years further underscores its sound financial practices.

Overall, the Wallace State Community College Future Foundation Inc appears to be a well-managed and transparent organization. Its financial trajectory shows sustained growth and a prudent approach to resource allocation, making it an effective steward of donor funds. The consistent reporting of zero officer compensation across all available filings is a particularly strong positive indicator of its commitment to its mission.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Wallace State Community College Future Foundation Inc with a Mission Score of 95 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, Wallace State Community College Future Foundation Inc 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.

Executive Compensation Analysis

Executive compensation is consistently reported at 0% across all available filings, indicating that no officers receive salaries from the foundation, which is highly unusual for an organization with assets exceeding $8 million and annual revenues often over $1 million.

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 State Community College Future Foundation Inc's IRS 990 filings:

Lack of detailed expense breakdown in provided data makes precise program vs. admin spending difficult to ascertain beyond officer compensation.

Strengths

The following positive indicators were identified for Wallace State Community College Future Foundation Inc:

Consistent asset growth, from $2.39M in 2015 to $8.17M in 2024.
Zero officer compensation reported across all 14 filings, indicating high dedication to mission.
Strong revenue generation, with latest revenue at $2,370,455.
Minimal to no liabilities reported in most fiscal periods, indicating sound financial management.
Expenses consistently lower than revenue in most years, contributing to asset accumulation.

Frequently Asked Questions about Wallace State Community College Future Foundation Inc

Is Wallace State Community College Future Foundation Inc a good charity?

Based on its financial data, the foundation appears to be a very good charity. It demonstrates strong asset growth, consistent revenue generation, and a remarkable commitment to directing all funds to its mission by reporting 0% officer compensation.

How has the organization's financial health changed over time?

The organization's financial health has significantly improved, with assets growing from $2,393,803 in 2015 to $8,175,254 in 2024, and revenues consistently exceeding expenses in most periods, indicating sustainable growth.

What is the organization's approach to executive compensation?

The organization reports 0% officer compensation in all available filings, suggesting that its leadership is either unpaid or compensated by an affiliated entity, ensuring all foundation funds are used for its programs.

How efficient is Wallace State Community College Future Foundation Inc with its spending?

The foundation appears highly efficient. With 0% officer compensation and expenses consistently lower than revenue, a very high proportion of its spending is likely directed towards program services, aligning with its NTEE code for scholarships and financial aid.

Filing History

IRS 990 filing history for Wallace State Community College Future Foundation Inc showing financial trends over 14 years of public records:

Over 14 years of IRS 990 filings (2011–2024), Wallace State Community College Future Foundation Inc's revenue has grown by 334.2%, moving from $258K to $1.1M. Total assets increased by 366.7% over the same period, from $1.8M to $8.2M. Total functional expenses rose by 400.9%, from $158K to $789K. In its most recent filing year (2024), Wallace State Community College Future Foundation Inc reported a surplus of $330K, with revenue exceeding expenses.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2024	$1.1M	$789K	$8.2M	$0	—	View 990
2023	$1.2M	$741K	$7.5M	$0	—	View 990
2022	$2.5M	$703K	$6.2M	$4K	—	View 990
2021	$953K	$471K	$5.8M	$0	—	View 990
2020	$1.1M	$722K	$4.4M	$0	—	—
2019	$903K	$595K	$4.4M	$141K	—	View 990
2018	$1.5M	$459K	$3.9M	$0	—	View 990
2017	$741K	$437K	$2.8M	$0	—	View 990
2016	$356K	$354K	$2.4M	$0	—	View 990
2015	$550K	$357K	$2.4M	$2K	—	View 990
2014	$307K	$253K	$2.2M	$0	—	View 990
2013	$360K	$267K	$2.1M	$0	—	View 990
2012	$552K	$291K	$2.0M	$22K	—	View 990
2011	$258K	$158K	$1.8M	$134	—	View 990

Year-by-Year Financial Summary

2024: Revenue of $1.1M, expenses of $789K, and assets of $8.2M (revenue -6.2% year-over-year).
2023: Revenue of $1.2M, expenses of $741K, and assets of $7.5M (revenue -52.1% year-over-year).
2022: Revenue of $2.5M, expenses of $703K, and assets of $6.2M (revenue +161.3% year-over-year).
2021: Revenue of $953K, expenses of $471K, and assets of $5.8M (revenue -10.8% year-over-year).
2020: Revenue of $1.1M, expenses of $722K, and assets of $4.4M (revenue +18.3% year-over-year).
2019: Revenue of $903K, expenses of $595K, and assets of $4.4M (revenue -39.9% year-over-year).
2018: Revenue of $1.5M, expenses of $459K, and assets of $3.9M (revenue +102.8% year-over-year).
2017: Revenue of $741K, expenses of $437K, and assets of $2.8M (revenue +108.4% year-over-year).
2016: Revenue of $356K, expenses of $354K, and assets of $2.4M (revenue -35.3% year-over-year).
2015: Revenue of $550K, expenses of $357K, and assets of $2.4M (revenue +79.2% year-over-year).
2014: Revenue of $307K, expenses of $253K, and assets of $2.2M (revenue -14.7% year-over-year).
2013: Revenue of $360K, expenses of $267K, and assets of $2.1M (revenue -34.9% year-over-year).
2012: Revenue of $552K, expenses of $291K, and assets of $2.0M (revenue +114.2% year-over-year).
2011: Revenue of $258K, expenses of $158K, and assets of $1.8M.

Data Sources and Methodology

This transparency report for Wallace State Community College Future Foundation 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.