World Vets
World Vets shows consistent revenue but faces significant liability increase in 2023.
EIN: 204637447 · Gig Harbor, WA · NTEE: D20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.7M |
| Total Expenses | $931K |
| Program Spending | 80% |
| Net Assets | $1.2M |
| Transparency Score | 70/100 |
Is World Vets Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
World Vets directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About World Vets
World Vets (EIN: 204637447) is a nonprofit organization based in Gig Harbor, WA, classified under NTEE code D20. The organization reported total revenue of $1.7M and total assets of $1.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of World Vets's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
World Vets is a mid-size nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -6.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $922K |
| Total Expenses | $931K |
| Surplus / Deficit | $-9,082 |
| Total Assets | $1.2M |
| Total Liabilities | $3K |
| Net Assets | $1.2M |
| Operating Margin | -1.0% |
| Debt-to-Asset Ratio | 0.2% |
| Months of Reserves | 15.7 months |
Financial Health Grade: B
In 2023, World Vets reported a deficit of $9K with expenses exceeding revenue, holds 15.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.2% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), World Vets's revenue has declined at a compound annual growth rate (CAGR) of -6.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -3.9% | +14.4% | -0.5% |
| 2022 | +26.6% | +22.1% | +13.5% |
| 2021 | +16.9% | +2.6% | +9.3% |
| 2020 | -40.6% | -37.0% | -3.1% |
| 2019 | +11.4% | +4.6% | +8.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2006 |
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 World Vets with a Mission Score of 70 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: 80%
- fundraising: 10%
According to IRS 990 filings, World Vets allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% 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 $9K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.2%.
Executive Compensation Analysis
World Vets consistently reports 0% officer compensation across all available filings, suggesting either a fully volunteer executive leadership or that executive compensation is categorized under other expense lines, which would require further detail for full transparency.
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 World Vets's IRS 990 filings:
- Dramatic increase in liabilities to $2,936,000 in 2023, far exceeding assets of $1,218,086 for the same period.
- Lack of detailed explanation for the significant liability increase in the provided summary data.
Strengths
The following positive indicators were identified for World Vets:
- Consistent revenue generation, generally between $700,000 and $1,000,000 annually over the past decade.
- Steady growth in assets, reaching over $1.2 million by 2023 (excluding the liability anomaly).
- Historically low liabilities prior to 2023, indicating sound financial management in previous years.
- Reported 0% officer compensation, suggesting a potentially high proportion of resources directed towards programs if executive functions are truly uncompensated.
Frequently Asked Questions about World Vets
Is World Vets a legitimate charity?
World Vets (EIN: 204637447) is a registered tax-exempt nonprofit based in Washington. Our AI analysis gives it a Mission Score of 70/100. It has 13 years of IRS 990 filings on record. Total revenue: $1.7M. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does World Vets spend its money?
World Vets directs 80% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to World Vets tax-deductible?
World Vets is registered as a tax-exempt nonprofit (EIN: 204637447). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of World Vets's spending goes to programs?
World Vets directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does World Vets compare to similar nonprofits?
With a transparency score of 70/100 (Good), World Vets is above average for NTEE category D20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is World Vets located?
World Vets is headquartered in Gig Harbor, Washington and files with the IRS under EIN 204637447. It is classified under NTEE code D20.
How many years of IRS 990 filings does World Vets have?
World Vets has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.7M in total revenue.
What caused the dramatic increase in liabilities to $2,936,000 in 2023, significantly exceeding assets?
The provided data does not specify the reason for this substantial increase in liabilities. This is a critical financial event that requires further investigation into the organization's 2023 IRS Form 990 for detailed explanations.
How does World Vets fund its executive functions if officer compensation is consistently reported as 0%?
While 0% officer compensation is reported, it's possible that executive roles are filled by volunteers, or compensation is reported under other expense categories such as 'salaries and wages' without specific officer designation. Further detail from the full 990 filing would clarify this.
What is the organization's plan to address the high liabilities reported in 2023?
The provided data does not include information on the organization's plans to manage or reduce the significant liabilities reported in 2023. This would be a key area for inquiry with the organization directly.
Filing History
IRS 990 filing history for World Vets showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), World Vets's revenue has declined by 54.7%, moving from $2.0M to $922K. Total assets increased by 58.5% over the same period, from $769K to $1.2M. Total functional expenses fell by 34.5%, from $1.4M to $931K. In its most recent filing year (2023), World Vets reported a deficit of $9K, with expenses exceeding revenue. The organization holds $3K in liabilities against $1.2M in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $1.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $922K | $931K | $1.2M | $3K | — | — |
| 2022 | $959K | $814K | $1.2M | $381 | — | View 990 |
| 2021 | $758K | $667K | $1.1M | $538 | — | View 990 |
| 2020 | $648K | $650K | $988K | $20 | — | — |
| 2019 | $1.1M | $1.0M | $1.0M | $30K | — | — |
| 2018 | $979K | $986K | $938K | $8K | — | View 990 |
| 2017 | $946K | $1.0M | $1.2M | $17K | — | View 990 |
| 2016 | $973K | $999K | $1.1M | $5K | — | View 990 |
| 2015 | $998K | $950K | $1.2M | $6K | — | View 990 |
| 2014 | $884K | $888K | $1.1M | $-5,884 | — | View 990 |
| 2013 | $991K | $1.0M | $1.1M | $-2,464 | — | View 990 |
| 2012 | $1.5M | $1.4M | $836K | $6K | — | View 990 |
| 2011 | $2.0M | $1.4M | $769K | $7K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $922K, expenses of $931K, and assets of $1.2M (revenue -3.9% year-over-year).
- 2022: Revenue of $959K, expenses of $814K, and assets of $1.2M (revenue +26.6% year-over-year).
- 2021: Revenue of $758K, expenses of $667K, and assets of $1.1M (revenue +16.9% year-over-year).
- 2020: Revenue of $648K, expenses of $650K, and assets of $988K (revenue -40.6% year-over-year).
- 2019: Revenue of $1.1M, expenses of $1.0M, and assets of $1.0M (revenue +11.4% year-over-year).
- 2018: Revenue of $979K, expenses of $986K, and assets of $938K (revenue +3.5% year-over-year).
- 2017: Revenue of $946K, expenses of $1.0M, and assets of $1.2M (revenue -2.7% year-over-year).
- 2016: Revenue of $973K, expenses of $999K, and assets of $1.1M (revenue -2.6% year-over-year).
- 2015: Revenue of $998K, expenses of $950K, and assets of $1.2M (revenue +12.9% year-over-year).
- 2014: Revenue of $884K, expenses of $888K, and assets of $1.1M (revenue -10.9% year-over-year).
- 2013: Revenue of $991K, expenses of $1.0M, and assets of $1.1M (revenue -33.1% year-over-year).
- 2012: Revenue of $1.5M, expenses of $1.4M, and assets of $836K (revenue -27.2% year-over-year).
- 2011: Revenue of $2.0M, expenses of $1.4M, and assets of $769K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for World Vets:
Data Sources and Methodology
This transparency report for World Vets 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.