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Waspen Corporation

Tax-deductible

Stone Mtn, GA501(c)(3)Food & Agriculture EIN 84-4384031Revenue $246 in FY2022

On file with the IRSwaspen.org5348 Charity Way, 30083-3660 · Stone Mtn, GATax-exempt since Aug 2021Publicly supported — 509(a)(2)

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Our goal is to "lead a cross-sectoral collaboration to provide the knowledge and best practices necessary to advance preventative care (e.g., distributing vaccines, outreach, and education) and eliminate malnutrition which entails creating awareness, making sure patients receive the right support, and research

501(c)(3) charity; gifts are tax-deductible.
Run by 50 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · People: Part I, lines 5–6

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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
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 6 voting members
Concern: none of 6 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$246
Spent
$1K
To programs
0%
Net assets
$221

From the FY2022 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022. IRS ruling in Aug 2021.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $1K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation
Drteresa Pounds
President/Founder
$0Pt VII · Sec A
Droke
Board of Director
$0Pt VII · Sec A
Prof Hardy
Board of Director
$0Pt VII · Sec A
Dr Ajayi
Board of Director
$0Pt VII · Sec A
Melanie Negrin
Board of Director
$0Pt VII · Sec A
Dregbujiobi
Board of Director
$0Pt VII · Sec A
See Waspen Corporation 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Advance preventative care and eliminate malnutrition through collaboration, education, and research.

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By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$246
Ln 12
Gifts and grantsLn 1h$246
Money outPt IX
$1K
Ln 25
Managementcol C$1K
Owns and owesPt X
$221
net assets · Ln 32
Cash and savingsLn 1–2$221
Total assetsLn 16$221
LiabilitiesLn 26$0
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$246
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Total revenueLn 12$246
Assets in detailPt X, end of year
CashLn 1$221
Cash and savings togetherLn 1–2$221
Total assetsLn 16$221
LiabilitiesLn 26$0
Net assetsLn 32$221
OperationsPt I, VI
EmployeesI 50
VolunteersI 650
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$1K$221
Total assetsLn 16$1K$221
LiabilitiesLn 26$0$0
Net assetsLn 32$1K$221
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Office expensesLn 13$1K$0$1K$0
Total functional expensesLn 25$1K$0$1K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest Viewing $246$1K−$859$221 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $246 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$246
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $0$246
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$1,105
I-18 Total expenses$1,105
I-19 Revenue less expensesPrior year $0−$859
Part VI · Governance 0 of 6 board members independent, 3 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $246 across 6 lines filed
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$246
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$246
VIII-12 Total revenueUnrelated business $0$246
Part IX · Statement of functional expenses $1,105 across 1 line filed
IX-13 Office expensesPrograms $0 · Management $1,105 · Fundraising $0$1,105
IX-25 Total functional expensesPrograms $0 · Management $1,105 · Fundraising $0$1,105
Part X · Balance sheet $221 assets, 5 lines filed
X-1 Cash, non-interest-bearingStart of year $1,080$221
X-16 Total assetsStart of year $1,080$221
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $1,080$221
X-33 Total liabilities and net assetsStart of year $1,080$221
Part XI · Reconciliation of net assets $221 net assets at year end
XI-1 Total revenue$246
XI-2 Total expenses$1,105
XI-3 Revenue less expenses−$859
XI-4 Net assets at start of year$1,080
XI-10 Net assets at end of year$221

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

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