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W&s Charitable Foundation INC FY2022 filing

Tax-deductible

Ramsey, NJ501(c)(3)Foundations & GrantmakersEIN 26-1490941Revenue $295K in FY2022

On file with the IRSxmasjam.com500b Lake St, 07446-1357 · Ramsey, NJTax-exempt since Jun 2009Publicly supported — 509(a)(2)

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December benefit concert to support habitat for humanity and other Charitable organizations.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 4
filings with a surplus
Average deficit $16K a year · 14% of revenue · last 4 filings
Concern: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
28 mo
of spending, in cash
Looks good: 27.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$499K
53% of total assets
Fine: liabilities are 53% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
1
of 3 voting members
Worth a look: 1 of 3 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$295K
×19 vs prior year
Spent
$298K
To programs
94%
Net assets
$434K
By yearFY2020–FY2024
Revenue
$295K
FY2022▲ ×19
Tap a bar for its year
Revenue by fiscal year
FY2020−$40K
FY2021−$17K
FY2022$295K
FY2023$248K
FY2024$5K
Expenses
$298K
FY2022▲ ×614
Tap a bar for its year
Expenses by fiscal year
FY2020$8K
FY2021$485
FY2022$298K
FY2023$246K
FY2024Not on file
Net assets
$434K
FY2022▼ -0.9%
Tap a bar for its year
Net assets by fiscal year
FY2020$456K
FY2021$438K
FY2022$434K
FY2023$437K
FY2024$422K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2009.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $280K Management & general 6% · $18K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See W&s Charitable Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Organizes a benefit concert to support Habitat for Humanity and other charities.

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Provided by the organization

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1 program · $280K · in their own filed words · FY2022
01

The foundation planned and arranged a christmas benefit concert in december 2022.PROCEEDS from the concert are designated for habitat for humanity and beloved ASHEVILLE.THE concert is an annual event and musicians donate their time to PERFORM.TICKET sales and donations received benefit habitat and other charities.

$280Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
Charlottesville Area Community FoundationFY2023$20K
Total grants receivedfrom 1 funder$20K
Grants paid · 4 grants · $510K · 2022–2023
Asheville Area Habitat for Humanity INCNC · FY2023$115,000
Beloved AshevilleNC · FY2023$115,000
Asheville Area Habitat for Humanity INCNC · FY2022$140,000
Beloved AshevilleNC · FY2022$140,000

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$295K
Ln 12
Gifts and grantsLn 1h$247K
Investment incomeLn 3$90K
Money outPt IX
$298K
Ln 25
Programscol B$280K
Managementcol C$18K
Owns and owesPt X
$434K
net assets · Ln 32
Cash and savingsLn 1–2$682K
Total assetsLn 16$934K
LiabilitiesLn 26$499K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$247K
Investment incomeLn 3$90K
Gains on assetsLn 7$90K
Total revenueLn 12$295K
Assets in detailPt X, end of year
CashLn 1$682K
Cash and savings togetherLn 1–2$682K
Total assetsLn 16$934K
LiabilitiesLn 26$499K
Net assetsLn 32$434K
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$438K$682K
Total assetsLn 16$438K$934K
LiabilitiesLn 26$135$499K
Net assetsLn 32$438K$434K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$280K$280K
Accounting feesLn 11c$12K$12K
Office expensesLn 13$6K$6K
Total functional expensesLn 25$298K$280K$18K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $5K$422K 990 PDF
FY2023 $248K$246K$2K$437K 990 PDF
FY2022 Viewing $295K$298K−$3K$434K 990 PDF
FY2021 −$17K$485−$18K$438K 990 PDF
FY2020 −$40K$8K−$48K$456K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $294,956 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $15,000$247,386
I-9 Program service revenue$0
I-10 Investment incomePrior year −$28,804$89,820
I-11 Other revenuePrior year −$3,213−$42,250
I-12 Total revenuePrior year −$17,017$294,956
I-13 Grants and similar amounts paid$280,000
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $485$17,958
I-18 Total expensesPrior year $485$297,958
I-19 Revenue less expensesPrior year −$17,502−$3,002
Part VI · Governance 1 of 3 board members independent, 5 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members1
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $294,956 across 5 lines filed
VIII-1f All other contributions, gifts and grants$247,386
VIII-1h Total contributions, gifts and grants$247,386
VIII-7 Net gain or loss on sales of assetsExcluded from tax $89,820$89,820
VIII-8 Net income from fundraising eventsExcluded from tax −$42,250−$42,250
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $47,570$294,956
Part IX · Statement of functional expenses $297,958 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $280,000$280,000
IX-11c Accounting feesManagement $11,935$11,935
IX-13 Office expensesManagement $6,023$6,023
IX-25 Total functional expensesPrograms $280,000 · Management $17,958 · Fundraising $0$297,958
Part X · Balance sheet $933,768 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $438,361$681,863
X-4 Accounts receivableStart of year $120$251,905
X-16 Total assetsStart of year $438,481$933,768
X-17 Accounts payable and accrued expensesStart of year $135$399,324
X-26 Total liabilitiesStart of year $135$499,324
X-27 Net assets without donor restrictionsStart of year $438,346$434,444
X-32 Total net assets or fund balancesStart of year $438,346$434,444
X-33 Total liabilities and net assetsStart of year $438,481$933,768
Part XI · Reconciliation of net assets $434,444 net assets at year end
XI-1 Total revenue$294,956
XI-2 Total expenses$297,958
XI-3 Revenue less expenses−$3,002
XI-4 Net assets at start of year$438,346
XI-8 Prior period adjustments−$900
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$434,444

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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