Westfield Foundation
Westfield Foundation: Declining Revenue, Stable Assets, and High Program Spending
EIN: 222155896 · Westfield, NJ · Updated: 2026-04-04
About Westfield Foundation
Westfield Foundation (EIN: 222155896) is a nonprofit organization based in Westfield, NJ. The organization reported total revenue of $2.6M and total assets of $29.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Westfield Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Westfield Foundation with a Mission Score of 75 out of 100 (Good). 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, Westfield Foundation 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.
Executive Compensation Analysis
Executive compensation is consistently reported as $0 in the provided filings, which is unusual for an organization with significant assets and expenses, suggesting compensation may be indirect or not fully disclosed in the standard section.
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 Westfield Foundation's IRS 990 filings:
- Consistent reporting of $0 for highest paid employee compensation across all years raises questions about the true nature of executive remuneration.
- Revenue has seen a significant decline from $4,817,524 in 2018 to $940,824 in 2023, which could impact future program sustainability if not addressed.
Strengths
The following positive indicators were identified for Westfield Foundation:
- The foundation maintains a strong asset base, growing from $15,654,870 in 2016 to $28,314,788 in 2023, providing financial stability.
- A high percentage of expenses are allocated to programs, indicating a strong commitment to its mission.
- Despite revenue fluctuations, the organization has consistently managed to keep its liabilities relatively stable.
Frequently Asked Questions about Westfield Foundation
What does Westfield Foundation do?
Westfield Foundation is a nonprofit organization in the Unknown sector, located in Westfield, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Westfield Foundation have?
Westfield Foundation reported total revenue of $2,576,289. Based on 13 IRS 990 filings on record.
What are Westfield Foundation's total assets?
Westfield Foundation holds total assets of $29,749,068 as reported in IRS 990 filings.
Where is Westfield Foundation located?
Westfield Foundation is based in Westfield, New Jersey.
What is Westfield Foundation's EIN?
Westfield Foundation's Employer Identification Number (EIN) is 222155896. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Westfield Foundation?
Westfield Foundation is classified under NTEE code Unknown (Unknown).
Is Westfield Foundation a registered 501(c)(3)?
Westfield Foundation appears in IRS records (EIN: 222155896). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Westfield Foundation file IRS Form 990?
Yes, Westfield Foundation has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Westfield Foundation's revenue in 2023?
In the 202312 filing period, Westfield Foundation reported total revenue of $940,824, total expenses of $1,309,753, and net assets of $28,314,788.
Is Westfield Foundation's revenue growing or declining?
Westfield Foundation's revenue is relatively stable. Revenue went from $965,070 (202212) to $940,824 (202312), a -2.5% change. Based on 13 filings on record.
What is Westfield Foundation's most recent 990 filing?
The most recent IRS Form 990 filing for Westfield Foundation covers tax period 202312. It shows revenue of $940,824, expenses of $1,309,753, total assets of $28,314,788, and liabilities of $6,163,700.
How much does Westfield Foundation spend on programs vs administration?
Based on IRS 990 analysis, Westfield Foundation allocates approximately 85% of expenses to program services, 10% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Westfield Foundation a trustworthy charity?
Based on AI analysis of IRS 990 data, Westfield Foundation appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for Westfield Foundation?
The following concerns were identified: Consistent reporting of $0 for highest paid employee compensation across all years raises questions about the true nature of executive remuneration.. Revenue has seen a significant decline from $4,817,524 in 2018 to $940,824 in 2023, which could impact future program sustainability if not addressed.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Westfield Foundation's strengths?
Positive indicators for Westfield Foundation include: The foundation maintains a strong asset base, growing from $15,654,870 in 2016 to $28,314,788 in 2023, providing financial stability.. A high percentage of expenses are allocated to programs, indicating a strong commitment to its mission.. Despite revenue fluctuations, the organization has consistently managed to keep its liabilities relatively stable.. These findings are derived from AI analysis of the organization's financial filings.
How does Westfield Foundation compensate executives?
Executive compensation is consistently reported as $0 in the provided filings, which is unusual for an organization with significant assets and expenses, suggesting compensation may be indirect or not fully disclosed in the standard section. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent reporting of $0 for executive compensation, how does the Westfield Foundation attract and retain leadership, and what is the actual cost of leadership to the organization?
The consistent $0 compensation reported for the highest-paid employees suggests that leadership may be volunteer-based, compensated through a related entity, or that compensation is structured in a way that it does not appear in the standard compensation section of the filings. A deeper dive into related party transactions or specific grant agreements would be necessary to understand the true cost of leadership.
What factors contributed to the substantial drop in revenue from $4,817,524 in 2018 to $940,824 in 2023, and what strategies are in place to mitigate this trend?
The provided data does not specify the sources of revenue (e.g., donations, investment income, grants). A significant drop could be due to a decrease in large one-time donations, poor investment performance in a specific year, or a shift in funding strategy. Understanding the composition of revenue and the foundation's fundraising strategy is crucial to assess sustainability.
Filing History
IRS 990 filing history for Westfield Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Westfield Foundation's revenue has declined by 9.6%, moving from $1.0M to $941K. Total assets increased by 164.6% over the same period, from $10.7M to $28.3M. Total functional expenses rose by 200%, from $437K to $1.3M. In its most recent filing year (2023), Westfield Foundation reported a deficit of $369K, with expenses exceeding revenue. The organization holds $6.2M in liabilities against $28.3M in assets (debt-to-asset ratio: 21.8%), resulting in net assets of $22.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $941K | $1.3M | $28.3M | $6.2M | — | — |
| 2022 | $965K | $1.2M | $25.5M | $5.1M | — | View 990 |
| 2021 | $1.8M | $1.0M | $31.9M | $5.8M | — | View 990 |
| 2020 | $1.3M | $1.0M | $29.9M | $5.8M | — | View 990 |
| 2019 | $1.7M | $909K | $26.9M | $5.3M | — | View 990 |
| 2018 | $4.8M | $1.3M | $22.8M | $4.9M | — | View 990 |
| 2017 | $3.5M | $622K | $20.7M | $4.8M | — | View 990 |
| 2016 | $708K | $652K | $15.7M | $4.4M | — | View 990 |
| 2015 | $854K | $522K | $15.0M | $4.3M | — | View 990 |
| 2014 | $958K | $540K | $15.2M | $4.2M | — | View 990 |
| 2013 | $542K | $478K | $14.3M | $3.9M | — | View 990 |
| 2012 | $667K | $384K | $12.0M | $2.9M | — | View 990 |
| 2011 | $1.0M | $437K | $10.7M | $2.6M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $941K, expenses of $1.3M, and assets of $28.3M (revenue -2.5% year-over-year).
- 2022: Revenue of $965K, expenses of $1.2M, and assets of $25.5M (revenue -45.9% year-over-year).
- 2021: Revenue of $1.8M, expenses of $1.0M, and assets of $31.9M (revenue +38.3% year-over-year).
- 2020: Revenue of $1.3M, expenses of $1.0M, and assets of $29.9M (revenue -22.5% year-over-year).
- 2019: Revenue of $1.7M, expenses of $909K, and assets of $26.9M (revenue -65.4% year-over-year).
- 2018: Revenue of $4.8M, expenses of $1.3M, and assets of $22.8M (revenue +36.4% year-over-year).
- 2017: Revenue of $3.5M, expenses of $622K, and assets of $20.7M (revenue +398.8% year-over-year).
- 2016: Revenue of $708K, expenses of $652K, and assets of $15.7M (revenue -17.1% year-over-year).
- 2015: Revenue of $854K, expenses of $522K, and assets of $15.0M (revenue -10.8% year-over-year).
- 2014: Revenue of $958K, expenses of $540K, and assets of $15.2M (revenue +76.8% year-over-year).
- 2013: Revenue of $542K, expenses of $478K, and assets of $14.3M (revenue -18.8% year-over-year).
- 2012: Revenue of $667K, expenses of $384K, and assets of $12.0M (revenue -35.9% year-over-year).
- 2011: Revenue of $1.0M, expenses of $437K, and assets of $10.7M.
Data Sources and Methodology
This transparency report for Westfield 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.