Westfield Insurance Foundation
Westfield Insurance Foundation consistently spends more than its annual revenue, drawing from a substantial $35M+ asset base.
EIN: 203816760 · Westfield Ctr, OH · NTEE: T21 · Updated: 2026-03-28
Is Westfield Insurance Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Westfield Insurance Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Westfield Insurance Foundation
Westfield Insurance Foundation (EIN: 203816760) is a nonprofit organization based in Westfield Ctr, OH, classified under NTEE code T21. The organization reported total revenue of $4.1M and total assets of $35.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Westfield Insurance Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Westfield Insurance Foundation is a mid-size nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 26.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.5M |
| Total Expenses | $3.9M |
| Surplus / Deficit | $-1,353,287 |
| Total Assets | $36.1M |
| Total Liabilities | $579K |
| Net Assets | $35.5M |
| Operating Margin | -53.8% |
| Debt-to-Asset Ratio | 1.6% |
| Months of Reserves | 112.1 months |
Financial Health Grade: B
In 2023, Westfield Insurance Foundation reported a deficit of $1.4M with expenses exceeding revenue, holds 112.1 months of operating reserves (strong position), has a debt-to-asset ratio of 1.6% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Westfield Insurance Foundation's revenue has grown at a compound annual growth rate (CAGR) of 26.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +2.4% | -2.6% | +2.1% |
| 2022 | -43.7% | +3.8% | -17.6% |
| 2021 | +175.3% | +2.6% | +12.0% |
| 2020 | +22.7% | +6.0% | +1.1% |
| 2019 | -76.9% | +38.6% | +45.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Westfield Insurance Foundation with a Mission Score of 88 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, Westfield Insurance 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $1.4M, with expenses exceeding revenue.
- Debt-to-asset ratio: 1.6%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers receive direct compensation from the foundation, which is a strong positive for resource allocation.
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 Insurance Foundation's IRS 990 filings:
- Consistent annual expenses exceeding revenue in recent years (e.g., 2023 expenses were 154% of revenue), which, while common for foundations, requires careful monitoring of endowment draw-down rates.
Strengths
The following positive indicators were identified for Westfield Insurance Foundation:
- Substantial and growing asset base, reaching over $35 million, providing long-term financial stability.
- Consistent 0% officer compensation reported across all filings, indicating efficient use of funds for charitable purposes.
- Long history of IRS 990 filings (10 filings), suggesting transparency and established operations.
- Significant grant-making capacity, as evidenced by expenses often exceeding annual revenue, drawing from its endowment.
Frequently Asked Questions about Westfield Insurance Foundation
Is Westfield Insurance Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Westfield Insurance Foundation (EIN: 203816760) some concerns. Mission Score: 88/100. 1 red flag identified, 4 strengths noted.
How does Westfield Insurance Foundation spend its money?
Westfield Insurance Foundation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Westfield Insurance Foundation tax-deductible?
Westfield Insurance Foundation is registered as a tax-exempt nonprofit (EIN: 203816760). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Westfield Insurance Foundation a good charity?
Based on the available data, the Westfield Insurance Foundation appears to be a well-managed foundation with a strong financial base. Its consistent reporting of 0% officer compensation is a significant positive, indicating that funds are directed towards its mission. While expenses have exceeded revenue in recent years, this is common for foundations that draw from their endowments to make grants. The substantial asset base of over $35 million provides stability and capacity for long-term impact.
How does the foundation manage its expenses when they exceed revenue?
The foundation manages expenses exceeding revenue by drawing from its substantial asset base, which has consistently been over $35 million in recent years. This allows it to maintain its grant-making activities even in years with lower revenue generation.
What is the trend in the foundation's assets?
The foundation's assets have shown significant growth over the long term, from $12.67 million in 2011 to $36.13 million in 2023, with a peak of $42.93 million in 2021. This indicates strong financial stewardship and growth of its endowment.
Filing History
IRS 990 filing history for Westfield Insurance Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Westfield Insurance Foundation's revenue has grown by 1497.3%, moving from $157K to $2.5M. Total assets increased by 185.2% over the same period, from $12.7M to $36.1M. Total functional expenses rose by 713.1%, from $476K to $3.9M. In its most recent filing year (2023), Westfield Insurance Foundation reported a deficit of $1.4M, with expenses exceeding revenue. The organization holds $579K in liabilities against $36.1M in assets (debt-to-asset ratio: 1.6%), resulting in net assets of $35.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.5M | $3.9M | $36.1M | $579K | — | View 990 |
| 2022 | $2.5M | $4.0M | $35.4M | $657K | — | — |
| 2021 | $4.4M | $3.8M | $42.9M | $570K | — | View 990 |
| 2020 | $1.6M | $3.7M | $38.3M | $573K | — | View 990 |
| 2019 | $1.3M | $3.5M | $37.9M | $1.1M | — | View 990 |
| 2015 | $5.6M | $2.5M | $26.1M | $980K | — | View 990 |
| 2014 | $2.6M | $1.3M | $23.8M | $657K | — | View 990 |
| 2013 | $5.6M | $406K | $21.4M | $575K | — | View 990 |
| 2012 | $619K | $438K | $14.2M | $905K | — | View 990 |
| 2011 | $157K | $476K | $12.7M | $1.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.5M, expenses of $3.9M, and assets of $36.1M (revenue +2.4% year-over-year).
- 2022: Revenue of $2.5M, expenses of $4.0M, and assets of $35.4M (revenue -43.7% year-over-year).
- 2021: Revenue of $4.4M, expenses of $3.8M, and assets of $42.9M (revenue +175.3% year-over-year).
- 2020: Revenue of $1.6M, expenses of $3.7M, and assets of $38.3M (revenue +22.7% year-over-year).
- 2019: Revenue of $1.3M, expenses of $3.5M, and assets of $37.9M (revenue -76.9% year-over-year).
- 2015: Revenue of $5.6M, expenses of $2.5M, and assets of $26.1M (revenue +118.5% year-over-year).
- 2014: Revenue of $2.6M, expenses of $1.3M, and assets of $23.8M (revenue -54.0% year-over-year).
- 2013: Revenue of $5.6M, expenses of $406K, and assets of $21.4M (revenue +797.1% year-over-year).
- 2012: Revenue of $619K, expenses of $438K, and assets of $14.2M (revenue +293.5% year-over-year).
- 2011: Revenue of $157K, expenses of $476K, and assets of $12.7M.
Data Sources and Methodology
This transparency report for Westfield Insurance 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.