Way Home Inc
Way Home Inc shows strong revenue and asset growth, with zero officer compensation, but recent liabilities have surged.
EIN: 134264074 · Georgetown, DE · NTEE: P99 · Updated: 2026-03-28
Is Way Home Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Way Home Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Way Home Inc
Way Home Inc (EIN: 134264074) is a nonprofit organization based in Georgetown, DE, classified under NTEE code P99. The organization reported total revenue of $698K and total assets of $805K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Way Home Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Way Home Inc is a small nonprofit that has been operating for 20 years, with 11 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $501K |
| Total Expenses | $475K |
| Surplus / Deficit | +$26K |
| Total Assets | $725K |
| Total Liabilities | $257K |
| Net Assets | $468K |
| Operating Margin | 5.3% |
| Debt-to-Asset Ratio | 35.4% |
| Months of Reserves | 18.3 months |
Financial Health Grade: A
In 2023, Way Home Inc reported a surplus of $26K with revenue exceeding expenses, holds 18.3 months of operating reserves (strong position), has a debt-to-asset ratio of 35.4% (moderate leverage).
Financial Trends
Over 11 years of filings (2011–2023), Way Home Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -21.3% | +21.2% | +71.5% |
| 2022 | +63.9% | +26.4% | +114.8% |
| 2021 | +39.9% | +3.9% | +54.9% |
| 2020 | -5.1% | -13.6% | +22.0% |
| 2019 | -3.4% | -3.3% | -33.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Way Home Inc with a Mission Score of 85 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: 85%
- fundraising: 5%
According to IRS 990 filings, Way Home Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $26K, with revenue exceeding expenses.
- Debt-to-asset ratio: 35.4%.
Executive Compensation Analysis
Way Home Inc reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers. This is a highly efficient practice, ensuring that a greater proportion of funds can be directed towards programmatic activities.
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 Way Home Inc's IRS 990 filings:
- Significant increase in liabilities from $4,848 in 2022 to $257,077 in 2023, requiring further investigation.
Strengths
The following positive indicators were identified for Way Home Inc:
- Consistent 0% officer compensation, indicating high efficiency and dedication of funds to mission.
- Strong revenue growth, with latest revenue at $698,163 and a positive trend in recent years.
- Significant asset growth, reaching $805,012, demonstrating increasing organizational capacity.
- Revenue generally exceeding expenses in recent periods, indicating financial sustainability.
Frequently Asked Questions about Way Home Inc
Is Way Home Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Way Home Inc (EIN: 134264074) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Way Home Inc spend its money?
Way Home Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Way Home Inc tax-deductible?
Way Home Inc is registered as a tax-exempt nonprofit (EIN: 134264074). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Way Home Inc a good charity?
Based on the available data, Way Home Inc appears to be a good charity. It demonstrates strong financial growth, a commitment to zero officer compensation, and a positive trend in revenue exceeding expenses in recent years, indicating financial health and efficient use of funds.
Why did Way Home Inc's liabilities increase so much in 2023?
The liabilities for Way Home Inc increased from $4,848 in 2022 to $257,077 in 2023. Without further detail from the 990 filing, it's unclear if this is due to new program-related debt, capital expenditures, or other financial obligations. This significant jump warrants closer examination.
How has Way Home Inc's financial health changed over time?
Way Home Inc has shown significant financial growth, particularly from 2021 to 2022, with revenue nearly doubling and assets more than doubling. While there were periods of expenses exceeding revenue in earlier years (e.g., 2019, 2020), recent trends indicate a healthier financial position with revenue generally outpacing expenses.
Filing History
IRS 990 filing history for Way Home Inc showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2023), Way Home Inc's revenue has grown by 72.1%, moving from $291K to $501K. Total assets increased by 530.5% over the same period, from $115K to $725K. Total functional expenses rose by 54.5%, from $307K to $475K. In its most recent filing year (2023), Way Home Inc reported a surplus of $26K, with revenue exceeding expenses. The organization holds $257K in liabilities against $725K in assets (debt-to-asset ratio: 35.4%), resulting in net assets of $468K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $501K | $475K | $725K | $257K | — | — |
| 2022 | $637K | $392K | $423K | $5K | — | View 990 |
| 2021 | $389K | $310K | $197K | $42K | — | View 990 |
| 2020 | $278K | $298K | $127K | $55K | — | View 990 |
| 2019 | $293K | $345K | $104K | $12K | — | View 990 |
| 2018 | $303K | $357K | $158K | $13K | — | View 990 |
| 2017 | $276K | $290K | $214K | $16K | — | View 990 |
| 2016 | $265K | $219K | $292K | $12K | — | View 990 |
| 2013 | $370K | $305K | $155K | $12K | — | View 990 |
| 2012 | $262K | $315K | $78K | $10K | — | View 990 |
| 2011 | $291K | $307K | $115K | $10K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $501K, expenses of $475K, and assets of $725K (revenue -21.3% year-over-year).
- 2022: Revenue of $637K, expenses of $392K, and assets of $423K (revenue +63.9% year-over-year).
- 2021: Revenue of $389K, expenses of $310K, and assets of $197K (revenue +39.9% year-over-year).
- 2020: Revenue of $278K, expenses of $298K, and assets of $127K (revenue -5.1% year-over-year).
- 2019: Revenue of $293K, expenses of $345K, and assets of $104K (revenue -3.4% year-over-year).
- 2018: Revenue of $303K, expenses of $357K, and assets of $158K (revenue +10.0% year-over-year).
- 2017: Revenue of $276K, expenses of $290K, and assets of $214K (revenue +4.0% year-over-year).
- 2016: Revenue of $265K, expenses of $219K, and assets of $292K (revenue -28.4% year-over-year).
- 2013: Revenue of $370K, expenses of $305K, and assets of $155K (revenue +41.2% year-over-year).
- 2012: Revenue of $262K, expenses of $315K, and assets of $78K (revenue -10.1% year-over-year).
- 2011: Revenue of $291K, expenses of $307K, and assets of $115K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Way Home Inc:
Data Sources and Methodology
This transparency report for Way Home 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.