Wf Whitman Family Foundation Inc
Wf Whitman Family Foundation maintains strong assets with zero executive compensation, despite fluctuating revenues and occasional operating deficits.
EIN: 200413209 · Wilmington, DE · NTEE: T22 · Updated: 2026-03-28
Is Wf Whitman Family Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Wf Whitman Family Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Wf Whitman Family Foundation Inc
Wf Whitman Family Foundation Inc (EIN: 200413209) is a nonprofit organization based in Wilmington, DE, classified under NTEE code T22. The organization reported total revenue of $4.9M and total assets of $6.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Wf Whitman Family Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Wf Whitman Family Foundation Inc is a mid-size nonprofit that has been operating for 22 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -3.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $288K |
| Total Expenses | $391K |
| Surplus / Deficit | $-103,028 |
| Total Assets | $6.4M |
| Total Liabilities | $1 |
| Net Assets | $6.4M |
| Operating Margin | -35.8% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 197.6 months |
Financial Health Grade: B
In 2023, Wf Whitman Family Foundation Inc reported a deficit of $103K with expenses exceeding revenue, holds 197.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Wf Whitman Family Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -3.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -56.2% | +14.2% | -1.6% |
| 2022 | -13.6% | -2.0% | +5.1% |
| 2021 | +294.2% | +11.2% | +7.1% |
| 2020 | -69.8% | -4.6% | -2.0% |
| 2019 | +78.9% | +5.4% | +22.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Wf Whitman Family Foundation Inc with a Mission Score of 90 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: 90%
- fundraising: 0%
According to IRS 990 filings, Wf Whitman Family Foundation Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. 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 deficit of $103K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Wf Whitman Family Foundation Inc. consistently reports 0% officer compensation across all available filings, indicating that no executive salaries are paid, which is highly unusual for an organization of its asset size ($6.4 million in 2023) and suggests a volunteer-driven leadership model.
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 Wf Whitman Family Foundation Inc's IRS 990 filings:
- Expenses exceeded revenue in 2023 ($390,957 vs. $287,929), indicating an operating deficit for the year.
- Significant fluctuations in annual revenue, from a high of $772,314 in 2012 to a low of $193,307 in 2020, could indicate an inconsistent funding model.
Strengths
The following positive indicators were identified for Wf Whitman Family Foundation Inc:
- Consistently reports 0% officer compensation, indicating highly efficient use of funds and a strong commitment to mission over executive pay.
- Maintains a strong and growing asset base, reaching $6,438,392 in 2023, providing financial stability and long-term capacity.
- Consistently reports minimal liabilities ($1), demonstrating a very healthy balance sheet and low financial risk.
- Long history of IRS 990 filings (10 filings), indicating consistent transparency and compliance.
Frequently Asked Questions about Wf Whitman Family Foundation Inc
Is Wf Whitman Family Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Wf Whitman Family Foundation Inc (EIN: 200413209) some concerns. Mission Score: 90/100. 2 red flags identified, 4 strengths noted.
How does Wf Whitman Family Foundation Inc spend its money?
Wf Whitman Family Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Wf Whitman Family Foundation Inc tax-deductible?
Wf Whitman Family Foundation Inc is registered as a tax-exempt nonprofit (EIN: 200413209). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does the Wf Whitman Family Foundation Inc. manage to operate with 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that the foundation's leadership may be entirely volunteer-based or that compensation is covered by an external entity, allowing all direct contributions to be allocated to other expenses or programs.
What caused the significant drop in revenue in 2023 to $287,929 compared to previous years?
The provided data does not specify the exact reasons for revenue fluctuations. It could be due to market performance impacting investment income, changes in donor contributions, or a strategic decision to draw less from endowments in a particular year.
Is the Wf Whitman Family Foundation Inc. financially sustainable given that expenses exceeded revenue in 2023?
While expenses ($390,957) exceeded revenue ($287,929) in 2023, the foundation maintains substantial assets ($6,438,392). This suggests it can absorb occasional operating deficits, likely drawing from its endowment or investment returns, without immediate threat to its long-term sustainability.
Filing History
IRS 990 filing history for Wf Whitman Family Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Wf Whitman Family Foundation Inc's revenue has declined by 33.8%, moving from $435K to $288K. Total assets increased by 98.4% over the same period, from $3.2M to $6.4M. Total functional expenses rose by 103.1%, from $192K to $391K. In its most recent filing year (2023), Wf Whitman Family Foundation Inc reported a deficit of $103K, with expenses exceeding revenue. The organization holds $1 in liabilities against $6.4M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $6.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $288K | $391K | $6.4M | $1 | — | — |
| 2022 | $658K | $342K | $6.5M | $1 | — | View 990 |
| 2021 | $762K | $349K | $6.2M | $1 | — | View 990 |
| 2020 | $193K | $314K | $5.8M | $1 | — | View 990 |
| 2019 | $641K | $329K | $5.9M | $1 | — | View 990 |
| 2015 | $358K | $312K | $4.8M | $1 | — | View 990 |
| 2014 | $767K | $259K | $4.8M | $1 | — | View 990 |
| 2013 | $679K | $237K | $4.3M | $1 | — | View 990 |
| 2012 | $772K | $184K | $3.8M | $1 | — | View 990 |
| 2011 | $435K | $192K | $3.2M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $288K, expenses of $391K, and assets of $6.4M (revenue -56.2% year-over-year).
- 2022: Revenue of $658K, expenses of $342K, and assets of $6.5M (revenue -13.6% year-over-year).
- 2021: Revenue of $762K, expenses of $349K, and assets of $6.2M (revenue +294.2% year-over-year).
- 2020: Revenue of $193K, expenses of $314K, and assets of $5.8M (revenue -69.8% year-over-year).
- 2019: Revenue of $641K, expenses of $329K, and assets of $5.9M (revenue +78.9% year-over-year).
- 2015: Revenue of $358K, expenses of $312K, and assets of $4.8M (revenue -53.3% year-over-year).
- 2014: Revenue of $767K, expenses of $259K, and assets of $4.8M (revenue +13.0% year-over-year).
- 2013: Revenue of $679K, expenses of $237K, and assets of $4.3M (revenue -12.1% year-over-year).
- 2012: Revenue of $772K, expenses of $184K, and assets of $3.8M (revenue +77.7% year-over-year).
- 2011: Revenue of $435K, expenses of $192K, and assets of $3.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Wf Whitman Family Foundation Inc:
Data Sources and Methodology
This transparency report for Wf Whitman Family 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.