The Welc Foundation
Nonprofit profile at a glance
- EIN
- 881715620
- IRS 990-EZ coverage
- 2022–2022
- Forms available
- Form 990-EZ 2022
- Location
- Humble, TX, USA
- Phone
- 2813861596
- Rating
- 34
- Verdict
- REVIEW
- Rating confidence
- Moderate
- Sector
- Educational Services and Schools - Other
Reported finances
- Revenue
- $200
- Expenses
- $200
- Assets
- $0
- Liabilities
- $0
Source: IRS Form 990-EZ. Selected filing: tax year 2022. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- Reese Williams (President)
- Reese Williams III (Assistant President)
People named in this filing
- Phyllis Williams (Founder)
- Reese Williams (President)
- Patricia Williams (Secretary)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The WELC Foundation is a nonprofit corporation and shall be operated exclusively for the education and charitable purposes within the meaning of Section 501(c)(3) of the internal Revenue Code of 1986, or the corresponding section of any future Federal tax code. The WELC Foundation is designed as a Public Benefit Nonprofit that engages in activities to improve the quality of life for those in their community. The purpose of the WELC Foundation is to provide free literacy tools and activities to school age children; whereby building a love for reading which will aid in stamping out the high rise of illiteracy in the United States of America.
What it reported doing in 2022
Since this is a New Foundation, still seeking support.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- No current program activity. The filing reports no program spending for the current year.
The verdict
REVIEW - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 82
- Sustainability: 29
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: 0%; rating input score 46; 46th percentile among comparable filings
- Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment
- Leadership: top reported pay $0 · 6 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 2 filed schedules
- Contacts: How to reach this organization
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 2/100.
- Moderate — Sustainability: Operating margin scored 46/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.