Whitehall Foundation Inc
Whitehall Foundation maintains strong asset base and zero reported officer compensation despite fluctuating revenues.
EIN: 135637595 · Palm Beach, FL · Updated: 2026-03-28
Is Whitehall Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Whitehall Foundation Inc directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Whitehall Foundation Inc
Whitehall Foundation Inc (EIN: 135637595) is a nonprofit organization based in Palm Beach, FL. The organization reported total revenue of $46.7M and total assets of $106.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Whitehall Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Whitehall Foundation Inc is a large nonprofit that has been operating for 87 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.7M |
| Total Expenses | $7.1M |
| Surplus / Deficit | $-2,406,046 |
| Total Assets | $109.2M |
| Total Liabilities | $1 |
| Net Assets | $109.2M |
| Operating Margin | -51.1% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 184.2 months |
Financial Health Grade: B
In 2023, Whitehall Foundation Inc reported a deficit of $2.4M with expenses exceeding revenue, holds 184.2 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), Whitehall Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -46.1% | -4.1% | -2.2% |
| 2022 | -20.8% | +24.4% | +1.1% |
| 2021 | +127.7% | -8.7% | +4.9% |
| 2020 | -12.6% | -8.3% | -1.6% |
| 2019 | -76.1% | +12.3% | -4.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1939 |
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 Whitehall Foundation Inc with a Mission Score of 92 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: 4%
- programs: 95%
- fundraising: 1%
According to IRS 990 filings, Whitehall Foundation Inc allocates its expenses as follows: admin: 4%, programs: 95%, fundraising: 1%. With 95% 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 $2.4M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are either unpaid or compensated through mechanisms not classified as officer compensation, which is highly favorable for an organization of its asset size ($106,300,578 latest assets).
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 Whitehall Foundation Inc's IRS 990 filings:
- Revenue volatility: Revenue has fluctuated significantly, from $23,172,734 in 2015 to $4,708,772 in 2023, which could impact grantmaking capacity if not managed by asset drawdowns.
Strengths
The following positive indicators were identified for Whitehall Foundation Inc:
- Strong asset base: Consistently maintains over $100 million in assets (e.g., $109,234,918 in 2023), providing long-term stability.
- Minimal liabilities: Liabilities are consistently very low, often reported as $1, indicating excellent financial health and low debt.
- Zero reported officer compensation: No officer compensation reported across all filings, suggesting high efficiency and dedication to mission.
- High program efficiency: As a grantmaking foundation, the vast majority of expenses are directed towards program services.
- Consistent IRS 990 filing history: A decade of filings demonstrates transparency and compliance.
Frequently Asked Questions about Whitehall Foundation Inc
Is Whitehall Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Whitehall Foundation Inc (EIN: 135637595) some concerns. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
How does Whitehall Foundation Inc spend its money?
Whitehall Foundation Inc directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Whitehall Foundation Inc tax-deductible?
Whitehall Foundation Inc is registered as a tax-exempt nonprofit (EIN: 135637595). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Whitehall Foundation Inc. financially stable?
Yes, the Whitehall Foundation Inc. is financially stable, possessing substantial assets (e.g., $109,234,918 in 2023) that significantly exceed its minimal liabilities (often $1), providing a strong financial cushion despite revenue fluctuations.
How much of Whitehall Foundation Inc.'s spending goes to programs?
As a grantmaking foundation, the vast majority of Whitehall Foundation Inc.'s spending goes directly to programs, estimated at around 95% due to its operational model and minimal overhead.
Does Whitehall Foundation Inc. pay its executives?
According to all available IRS 990 filings, Whitehall Foundation Inc. reports 0% for officer compensation, suggesting that its executives are either unpaid or compensated through other means not categorized as officer compensation.
Why did Whitehall Foundation Inc.'s revenue drop in 2023?
Whitehall Foundation Inc.'s revenue dropped from $8,743,956 in 2022 to $4,708,772 in 2023. This fluctuation is common for foundations, often tied to investment performance or specific grant cycles, but its large asset base ($109,234,918 in 2023) mitigates the impact on its operations.
Filing History
IRS 990 filing history for Whitehall Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Whitehall Foundation Inc's revenue has grown by 31.5%, moving from $3.6M to $4.7M. Total assets increased by 33.9% over the same period, from $81.6M to $109.2M. Total functional expenses rose by 44.3%, from $4.9M to $7.1M. In its most recent filing year (2023), Whitehall Foundation Inc reported a deficit of $2.4M, with expenses exceeding revenue. The organization holds $1 in liabilities against $109.2M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $109.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.7M | $7.1M | $109.2M | $1 | — | View 990 |
| 2022 | $8.7M | $7.4M | $111.6M | $1 | — | View 990 |
| 2021 | $11.0M | $6.0M | $110.4M | $99K | — | View 990 |
| 2020 | $4.8M | $6.5M | $105.3M | $1 | — | — |
| 2019 | $5.5M | $7.1M | $107.0M | $1 | — | View 990 |
| 2015 | $23.2M | $6.3M | $111.6M | $12K | — | View 990 |
| 2014 | $19.8M | $6.1M | $94.9M | $104K | — | View 990 |
| 2013 | $4.9M | $5.6M | $81.1M | $238 | — | View 990 |
| 2012 | $5.4M | $5.1M | $81.8M | $221 | — | View 990 |
| 2011 | $3.6M | $4.9M | $81.6M | $288 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.7M, expenses of $7.1M, and assets of $109.2M (revenue -46.1% year-over-year).
- 2022: Revenue of $8.7M, expenses of $7.4M, and assets of $111.6M (revenue -20.8% year-over-year).
- 2021: Revenue of $11.0M, expenses of $6.0M, and assets of $110.4M (revenue +127.7% year-over-year).
- 2020: Revenue of $4.8M, expenses of $6.5M, and assets of $105.3M (revenue -12.6% year-over-year).
- 2019: Revenue of $5.5M, expenses of $7.1M, and assets of $107.0M (revenue -76.1% year-over-year).
- 2015: Revenue of $23.2M, expenses of $6.3M, and assets of $111.6M (revenue +16.9% year-over-year).
- 2014: Revenue of $19.8M, expenses of $6.1M, and assets of $94.9M (revenue +305.4% year-over-year).
- 2013: Revenue of $4.9M, expenses of $5.6M, and assets of $81.1M (revenue -8.7% year-over-year).
- 2012: Revenue of $5.4M, expenses of $5.1M, and assets of $81.8M (revenue +49.5% year-over-year).
- 2011: Revenue of $3.6M, expenses of $4.9M, and assets of $81.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Whitehall Foundation Inc:
Data Sources and Methodology
This transparency report for Whitehall 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.