Waterwheel Foundation Inc
Waterwheel Foundation consistently grows assets with zero executive compensation and strong revenue surpluses.
EIN: 133948773 · New York, NY · NTEE: T20J · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6.2M |
| Total Expenses | $2.1M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $6 |
| Net Assets | $16.4M |
| Transparency Score | 95/100 |
Is Waterwheel Foundation Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Waterwheel Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Waterwheel Foundation Inc
Waterwheel Foundation Inc (EIN: 133948773) is a nonprofit organization based in New York, NY, classified under NTEE code T20J. The organization reported total revenue of $6.2M and total assets of $15.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Waterwheel Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Waterwheel Foundation Inc is a mid-size nonprofit that has been operating for 29 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 19.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $7.0M |
| Total Expenses | $2.1M |
| Surplus / Deficit | +$4.8M |
| Total Assets | $16.4M |
| Total Liabilities | $40K |
| Net Assets | $16.4M |
| Operating Margin | 69.7% |
| Debt-to-Asset Ratio | 0.2% |
| Months of Reserves | 93.5 months |
Financial Health Grade: A
In 2023, Waterwheel Foundation Inc reported a surplus of $4.8M with revenue exceeding expenses, holds 93.5 months of operating reserves (strong position), has a debt-to-asset ratio of 0.2% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Waterwheel Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 19.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +104.6% | +52.7% | +39.9% |
| 2022 | +11.7% | +35.2% | +17.4% |
| 2021 | -6.7% | -66.9% | +13.1% |
| 2020 | +92.4% | +256.0% | +21.1% |
| 2019 | +91.8% | +182.0% | +80.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1997 |
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 Waterwheel 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Waterwheel Foundation Inc 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $4.8M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.2%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based, which is highly commendable for a nonprofit of its size with over $6 million in annual revenue.
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.
Strengths
The following positive indicators were identified for Waterwheel Foundation Inc:
- Zero officer compensation reported across all filings, indicating volunteer leadership.
- Consistent and significant growth in assets, from $1.7M in 2011 to $16.4M in 2023.
- Strong revenue generation, with $6.9M in 2023, significantly exceeding expenses.
- Low liabilities relative to assets, indicating financial stability (e.g., $40,323 liabilities vs. $16.4M assets in 2023).
- Efficient spending with expenses consistently well below revenue, leading to healthy surpluses.
Frequently Asked Questions about Waterwheel Foundation Inc
Is Waterwheel Foundation Inc a legitimate charity?
Waterwheel Foundation Inc (EIN: 133948773) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 95/100. It has 10 years of IRS 990 filings on record. Total revenue: $6.2M. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Waterwheel Foundation Inc spend its money?
Waterwheel Foundation Inc directs 90% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Waterwheel Foundation Inc tax-deductible?
Waterwheel Foundation Inc is registered as a tax-exempt nonprofit (EIN: 133948773). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Waterwheel Foundation Inc CEO make?
Waterwheel Foundation Inc's highest-compensated officer earns $6 annually. The organization reported $6.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Waterwheel Foundation Inc's spending goes to programs?
Waterwheel Foundation Inc directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Waterwheel Foundation Inc compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), Waterwheel Foundation Inc is above average for NTEE category T20J nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Waterwheel Foundation Inc located?
Waterwheel Foundation Inc is headquartered in New York, New York and files with the IRS under EIN 133948773. It is classified under NTEE code T20J.
How many years of IRS 990 filings does Waterwheel Foundation Inc have?
Waterwheel Foundation Inc 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 $6.2M in total revenue.
Is Waterwheel Foundation Inc a good charity?
Based on its financial filings, Waterwheel Foundation Inc appears to be a very good charity. It consistently generates significant revenue, maintains a healthy asset base, and most notably, reports 0% officer compensation, indicating a strong commitment to directing funds towards its mission.
How has Waterwheel Foundation's financial health changed over time?
The organization has shown remarkable financial growth, with revenue increasing from $794,002 in 2011 to $6,953,692 in 2023, and assets growing from $1,755,621 to $16,407,951 over the same period. This indicates robust and sustained financial health.
What is the organization's approach to executive compensation?
Waterwheel Foundation Inc has a highly commendable approach to executive compensation, reporting 0% officer compensation in all available filings. This suggests that its leadership serves on a volunteer basis, maximizing resources for programmatic use.
Filing History
IRS 990 filing history for Waterwheel Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Waterwheel Foundation Inc's revenue has grown by 775.8%, moving from $794K to $7.0M. Total assets increased by 834.6% over the same period, from $1.8M to $16.4M. Total functional expenses rose by 717.8%, from $257K to $2.1M. In its most recent filing year (2023), Waterwheel Foundation Inc reported a surplus of $4.8M, with revenue exceeding expenses. The organization holds $40K in liabilities against $16.4M in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $16.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $7.0M | $2.1M | $16.4M | $40K | — | — |
| 2022 | $3.4M | $1.4M | $11.7M | $205K | — | View 990 |
| 2021 | $3.0M | $1.0M | $10.0M | $486K | — | View 990 |
| 2020 | $3.3M | $3.1M | $8.8M | $1.4M | — | View 990 |
| 2019 | $1.7M | $864K | $7.3M | $20 | — | — |
| 2015 | $884K | $307K | $4.0M | $1K | — | View 990 |
| 2014 | $1.0M | $498K | $3.5M | $5K | — | View 990 |
| 2013 | $1.0M | $461K | $3.0M | $408 | — | View 990 |
| 2012 | $864K | $218K | $2.4M | $8K | — | View 990 |
| 2011 | $794K | $257K | $1.8M | $918 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $7.0M, expenses of $2.1M, and assets of $16.4M (revenue +104.6% year-over-year).
- 2022: Revenue of $3.4M, expenses of $1.4M, and assets of $11.7M (revenue +11.7% year-over-year).
- 2021: Revenue of $3.0M, expenses of $1.0M, and assets of $10.0M (revenue -6.7% year-over-year).
- 2020: Revenue of $3.3M, expenses of $3.1M, and assets of $8.8M (revenue +92.4% year-over-year).
- 2019: Revenue of $1.7M, expenses of $864K, and assets of $7.3M (revenue +91.8% year-over-year).
- 2015: Revenue of $884K, expenses of $307K, and assets of $4.0M (revenue -11.8% year-over-year).
- 2014: Revenue of $1.0M, expenses of $498K, and assets of $3.5M (revenue -2.0% year-over-year).
- 2013: Revenue of $1.0M, expenses of $461K, and assets of $3.0M (revenue +18.4% year-over-year).
- 2012: Revenue of $864K, expenses of $218K, and assets of $2.4M (revenue +8.8% year-over-year).
- 2011: Revenue of $794K, expenses of $257K, and assets of $1.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Waterwheel Foundation Inc:
Data Sources and Methodology
This transparency report for Waterwheel 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.