Wealth Watchers Inc
Wealth Watchers Inc. shows strong revenue growth and asset accumulation with no reported officer compensation.
EIN: 10638984 · Jacksonville, FL · NTEE: L22 · Updated: 2026-03-28
Is Wealth Watchers Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Wealth Watchers Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Wealth Watchers Inc
Wealth Watchers Inc (EIN: 10638984) is a nonprofit organization based in Jacksonville, FL, classified under NTEE code L22. The organization reported total revenue of $23.5M and total assets of $13.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Wealth Watchers Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Wealth Watchers Inc is a large nonprofit that has been operating for 24 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 22.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $12.2M |
| Total Expenses | $7.2M |
| Surplus / Deficit | +$5.0M |
| Total Assets | $12.8M |
| Total Liabilities | $2.2M |
| Net Assets | $10.6M |
| Operating Margin | 41.0% |
| Debt-to-Asset Ratio | 17.4% |
| Months of Reserves | 21.4 months |
Financial Health Grade: A
In 2023, Wealth Watchers Inc reported a surplus of $5.0M with revenue exceeding expenses, holds 21.4 months of operating reserves (strong position), has a debt-to-asset ratio of 17.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Wealth Watchers Inc's revenue has grown at a compound annual growth rate (CAGR) of 22.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +765.7% | +349.1% | +79.0% |
| 2022 | -54.5% | -47.3% | +1.7% |
| 2021 | +135.9% | +134.7% | +2.3% |
| 2020 | +2.6% | +15.0% | +4.3% |
| 2019 | +28.6% | +17.9% | +4.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2002 |
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 Wealth Watchers Inc with a Mission Score of 80 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: 75%
- fundraising: 10%
According to IRS 990 filings, Wealth Watchers Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 $5.0M, with revenue exceeding expenses.
- Debt-to-asset ratio: 17.4%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size and revenue, especially with $12,179,604 in revenue in 2023. This could indicate that executive compensation is reported under other expense categories or that leadership is entirely volunteer-based, which would be a significant strength.
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 Wealth Watchers Inc's IRS 990 filings:
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data
- Unusually consistent 0% officer compensation for an organization of this scale, potentially obscuring actual executive remuneration if reported elsewhere.
Strengths
The following positive indicators were identified for Wealth Watchers Inc:
- Strong and consistent revenue growth, from $2,532,972 in 2014 to $12,179,604 in 2023.
- Significant asset accumulation, growing from $3,831,286 in 2014 to $12,797,221 in 2023.
- Positive net income in most years, indicating financial sustainability (e.g., $12,179,604 revenue vs. $7,181,715 expenses in 2023).
- Consistent reporting of 0% officer compensation, suggesting a commitment to minimizing top-level administrative costs or a volunteer-driven leadership.
Frequently Asked Questions about Wealth Watchers Inc
Is Wealth Watchers Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Wealth Watchers Inc (EIN: 10638984) some concerns. Mission Score: 80/100. 2 red flags identified, 4 strengths noted.
How does Wealth Watchers Inc spend its money?
Wealth Watchers Inc directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Wealth Watchers Inc tax-deductible?
Wealth Watchers Inc is registered as a tax-exempt nonprofit (EIN: 10638984). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Wealth Watchers Inc. a good charity?
Based on the available data, Wealth Watchers Inc. appears to be a financially stable organization with strong revenue growth and asset accumulation. The consistent reporting of 0% officer compensation is a positive indicator. However, without a detailed breakdown of program, administrative, and fundraising expenses, a complete assessment of spending efficiency is not possible.
How has Wealth Watchers Inc.'s financial health changed over time?
Wealth Watchers Inc. has shown significant financial growth. Revenue increased from $2,532,972 in 2014 to $12,179,604 in 2023, and assets grew from $3,831,286 to $12,797,221 in the same period, demonstrating robust expansion and financial stability.
What is the organization's approach to executive compensation?
The organization consistently reports 0% officer compensation in all available IRS 990 filings. This suggests either a fully volunteer-led executive team or that executive compensation is categorized differently within their financial reporting.
Filing History
IRS 990 filing history for Wealth Watchers Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Wealth Watchers Inc's revenue has grown by 1005.7%, moving from $1.1M to $12.2M. Total assets increased by 1101.4% over the same period, from $1.1M to $12.8M. Total functional expenses rose by 743.4%, from $852K to $7.2M. In its most recent filing year (2023), Wealth Watchers Inc reported a surplus of $5.0M, with revenue exceeding expenses. The organization holds $2.2M in liabilities against $12.8M in assets (debt-to-asset ratio: 17.4%), resulting in net assets of $10.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $12.2M | $7.2M | $12.8M | $2.2M | — | — |
| 2022 | $1.4M | $1.6M | $7.2M | $1.6M | — | View 990 |
| 2021 | $3.1M | $3.0M | $7.0M | $1.3M | — | View 990 |
| 2020 | $1.3M | $1.3M | $6.9M | $1.2M | — | — |
| 2019 | $1.3M | $1.1M | $6.6M | $904K | — | View 990 |
| 2018 | $992K | $953K | $6.3M | $757K | — | View 990 |
| 2017 | $1.8M | $1.3M | $5.9M | $447K | — | View 990 |
| 2016 | $2.2M | $1.0M | $5.2M | $128K | — | View 990 |
| 2015 | $1.2M | $1.2M | $3.9M | $46K | — | View 990 |
| 2014 | $2.5M | $1.2M | $3.8M | $58K | — | View 990 |
| 2013 | $2.6M | $1.4M | $2.5M | $11K | — | View 990 |
| 2012 | $1.6M | $1.3M | $1.6M | $283K | — | View 990 |
| 2011 | $1.1M | $852K | $1.1M | $25K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $12.2M, expenses of $7.2M, and assets of $12.8M (revenue +765.7% year-over-year).
- 2022: Revenue of $1.4M, expenses of $1.6M, and assets of $7.2M (revenue -54.5% year-over-year).
- 2021: Revenue of $3.1M, expenses of $3.0M, and assets of $7.0M (revenue +135.9% year-over-year).
- 2020: Revenue of $1.3M, expenses of $1.3M, and assets of $6.9M (revenue +2.6% year-over-year).
- 2019: Revenue of $1.3M, expenses of $1.1M, and assets of $6.6M (revenue +28.6% year-over-year).
- 2018: Revenue of $992K, expenses of $953K, and assets of $6.3M (revenue -43.9% year-over-year).
- 2017: Revenue of $1.8M, expenses of $1.3M, and assets of $5.9M (revenue -20.1% year-over-year).
- 2016: Revenue of $2.2M, expenses of $1.0M, and assets of $5.2M (revenue +78.2% year-over-year).
- 2015: Revenue of $1.2M, expenses of $1.2M, and assets of $3.9M (revenue -51.0% year-over-year).
- 2014: Revenue of $2.5M, expenses of $1.2M, and assets of $3.8M (revenue -1.7% year-over-year).
- 2013: Revenue of $2.6M, expenses of $1.4M, and assets of $2.5M (revenue +63.3% year-over-year).
- 2012: Revenue of $1.6M, expenses of $1.3M, and assets of $1.6M (revenue +43.3% year-over-year).
- 2011: Revenue of $1.1M, expenses of $852K, and assets of $1.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Wealth Watchers Inc:
Data Sources and Methodology
This transparency report for Wealth Watchers 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.