Wang Foundation
Wang Foundation: Declining Assets and High Administrative Costs Raise Concerns
EIN: 222858458 · Boston, MA · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $642K |
| Total Expenses | $362K |
| Program Spending | 45% |
| CEO/Top Officer Pay | $0 |
| Net Assets | $972K |
| Transparency Score | 45/100 |
Is Wang Foundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Wang Foundation directs 45% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About Wang Foundation
Wang Foundation (EIN: 222858458) is a nonprofit organization based in Boston, MA. The organization reported total revenue of $642K and total assets of $935K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Wang Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Wang Foundation is a small nonprofit that has been operating for 38 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $294K |
| Total Expenses | $362K |
| Surplus / Deficit | $-67,399 |
| Total Assets | $972K |
| Total Liabilities | $1 |
| Net Assets | $972K |
| Operating Margin | -22.9% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 32.3 months |
Financial Health Grade: B
In 2023, Wang Foundation reported a deficit of $67K with expenses exceeding revenue, holds 32.3 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), Wang Foundation's revenue has grown at a compound annual growth rate (CAGR) of 2.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +517.5% | +22.4% | -2.9% |
| 2022 | -85.6% | -35.0% | -21.6% |
| 2021 | +56.8% | -4.7% | -12.0% |
| 2020 | +23.4% | +2.5% | -8.6% |
| 2019 | -27.7% | -3.0% | -36.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1988 |
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 Wang Foundation with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 39%
- programs: 45%
- fundraising: 16%
According to IRS 990 filings, Wang Foundation allocates its expenses as follows: admin: 39%, programs: 45%, fundraising: 16%. Only 45% is directed toward programs, which may warrant further investigation by donors.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $67K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is reported as $0 across all available filings, indicating either volunteer leadership or compensation being reported under other expense categories.
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 Wang Foundation's IRS 990 filings:
- Total assets have decreased by over 67% from 2013 to 2023, from $3,007,374 to $971,815.
- Expenses consistently exceed revenue in most years, leading to a depletion of assets.
- A significant portion of expenses is allocated to administrative costs, for example, in 2023, $361,569 in expenses against $294,170 in revenue.
- The foundation's long-term financial sustainability is questionable given the consistent asset decline and expense-to-revenue ratio.
Strengths
The following positive indicators were identified for Wang Foundation:
- The foundation consistently reports 0% compensation for officers, directors, trustees, and key employees, suggesting a volunteer-driven leadership model.
Frequently Asked Questions about Wang Foundation
Is Wang Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Wang Foundation (EIN: 222858458) significant concerns. Mission Score: 45/100. 4 red flags identified, 1 strength noted.
How does Wang Foundation spend its money?
Wang Foundation directs 45% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Wang Foundation tax-deductible?
Wang Foundation is registered as a tax-exempt nonprofit (EIN: 222858458). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Wang Foundation CEO make?
Wang Foundation's highest-compensated officer earns $0 annually. The organization reported $642K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Wang Foundation's spending goes to programs?
Wang Foundation directs 45% to programs, 16% to fundraising. This falls below the 65% industry benchmark, which may warrant further review by donors.
Where is Wang Foundation located?
Wang Foundation is headquartered in Boston, Massachusetts and files with the IRS under EIN 222858458.
How many years of IRS 990 filings does Wang Foundation have?
Wang 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 $642K in total revenue.
What does Wang Foundation do?
Wang Foundation is a nonprofit organization in the Unknown sector, located in Boston, Massachusetts. It is classified under NTEE code Unknown.
How much revenue does Wang Foundation have?
Wang Foundation reported total revenue of $641,530. Based on 10 IRS 990 filings on record.
What are Wang Foundation's total assets?
Wang Foundation holds total assets of $935,413 as reported in IRS 990 filings.
Where is Wang Foundation located?
Wang Foundation is based in Boston, Massachusetts.
What is Wang Foundation's EIN?
Wang Foundation's Employer Identification Number (EIN) is 222858458. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Wang Foundation?
Wang Foundation is classified under NTEE code Unknown (Unknown).
Is Wang Foundation a registered 501(c)(3)?
Wang Foundation appears in IRS records (EIN: 222858458). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Wang Foundation file IRS Form 990?
Yes, Wang Foundation has 10 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Wang Foundation's revenue in 2023?
In the 202312 filing period, Wang Foundation reported total revenue of $294,170, total expenses of $361,569, and net assets of $971,815.
Is Wang Foundation's revenue growing or declining?
Wang Foundation's revenue is growing. Revenue went from $47,639 (202212) to $294,170 (202312), a +517.5% change. Based on 10 filings on record.
What is Wang Foundation's most recent 990 filing?
The most recent IRS Form 990 filing for Wang Foundation covers tax period 202312. It shows revenue of $294,170, expenses of $361,569, total assets of $971,815, and liabilities of $1.
How much does Wang Foundation spend on programs vs administration?
Based on IRS 990 analysis, Wang Foundation allocates approximately 45% of expenses to program services, 39% to administrative costs, and 16% to fundraising. Overhead costs appear high relative to program spending.
Is Wang Foundation a trustworthy charity?
Based on AI analysis of IRS 990 data, Wang Foundation shows mixed signals. Mission Score: 45/100 (Fair). 4 red flags identified. 1 strength noted.
What are the red flags for Wang Foundation?
The following concerns were identified: Total assets have decreased by over 67% from 2013 to 2023, from $3,007,374 to $971,815.. Expenses consistently exceed revenue in most years, leading to a depletion of assets.. A significant portion of expenses is allocated to administrative costs, for example, in 2023, $361,569 in expenses against $294,170 in revenue.. The foundation's long-term financial sustainability is questionable given the consistent asset decline and expense-to-revenue ratio.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Wang Foundation's strengths?
Positive indicators for Wang Foundation include: The foundation consistently reports 0% compensation for officers, directors, trustees, and key employees, suggesting a volunteer-driven leadership model.. These findings are derived from AI analysis of the organization's financial filings.
How does Wang Foundation compensate executives?
Executive compensation is reported as $0 across all available filings, indicating either volunteer leadership or compensation being reported under other expense categories. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent decline in assets and expenses exceeding revenue, what is the long-term strategy for the Wang Foundation's financial viability?
The provided data does not offer insight into the foundation's strategic plans to address the consistent asset depletion and ensure long-term financial viability. This trend suggests a need for a revised financial strategy or a re-evaluation of operational costs.
With $0 reported for executive compensation, how are leadership roles sustained and what is the breakdown of 'other expenses' that account for the majority of expenditures?
The consistent reporting of $0 for executive compensation implies either a fully volunteer leadership or that compensation is embedded within other expense categories. Without further detail on the breakdown of 'other expenses' (e.g., $361,569 in 2023), it's difficult to ascertain the true cost of leadership and operations.
Filing History
IRS 990 filing history for Wang Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Wang Foundation's revenue has grown by 29.8%, moving from $227K to $294K. Total assets decreased by 72.2% over the same period, from $3.5M to $972K. Total functional expenses fell by 51.8%, from $750K to $362K. In its most recent filing year (2023), Wang Foundation reported a deficit of $67K, with expenses exceeding revenue. The organization holds $1 in liabilities against $972K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $972K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $294K | $362K | $972K | $1 | — | — |
| 2022 | $48K | $295K | $1.0M | $1 | — | View 990 |
| 2021 | $331K | $454K | $1.3M | $1 | — | — |
| 2020 | $211K | $476K | $1.5M | $1 | — | — |
| 2019 | $171K | $465K | $1.6M | $1 | — | View 990 |
| 2015 | $237K | $479K | $2.5M | $1 | — | View 990 |
| 2014 | $311K | $582K | $2.7M | $1 | — | View 990 |
| 2013 | $608K | $689K | $3.0M | $1 | — | View 990 |
| 2012 | $454K | $720K | $3.2M | $1 | — | View 990 |
| 2011 | $227K | $750K | $3.5M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $294K, expenses of $362K, and assets of $972K (revenue +517.5% year-over-year).
- 2022: Revenue of $48K, expenses of $295K, and assets of $1.0M (revenue -85.6% year-over-year).
- 2021: Revenue of $331K, expenses of $454K, and assets of $1.3M (revenue +56.8% year-over-year).
- 2020: Revenue of $211K, expenses of $476K, and assets of $1.5M (revenue +23.4% year-over-year).
- 2019: Revenue of $171K, expenses of $465K, and assets of $1.6M (revenue -27.7% year-over-year).
- 2015: Revenue of $237K, expenses of $479K, and assets of $2.5M (revenue -23.9% year-over-year).
- 2014: Revenue of $311K, expenses of $582K, and assets of $2.7M (revenue -48.8% year-over-year).
- 2013: Revenue of $608K, expenses of $689K, and assets of $3.0M (revenue +33.8% year-over-year).
- 2012: Revenue of $454K, expenses of $720K, and assets of $3.2M (revenue +100.4% year-over-year).
- 2011: Revenue of $227K, expenses of $750K, and assets of $3.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Wang Foundation:
Data Sources and Methodology
This transparency report for Wang 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.