The Woody Foundation Inc Dba The Way Forward Foundation

Nonprofit profile at a glance

EIN
204971953
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Coconut Grove, FL, USA
Phone
3056692119
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Public Foundations

Official website

Reported finances

Revenue
$248,584
Expenses
$335,498
Assets
$341,726
Liabilities
$9,527

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • William E Beckham III (Vice President)
  • Ann Stith (President)

Highest reported compensation

  • William E Beckham III (Vice President): $28,498 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Mission of the Way Forward Foundation is to enhance the quality of life for those living with paralysis. Our Vision is to help all people with paralysis to live an active and independent life.

What it reported doing in 2024

The Foundation created "Next Chapter" a program dedicated to promoting inclusion and kindness in the future generation through engaging reading activities and conversations about paralysis.

Operating model

Revenue model
Donor-supported. 83% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 73% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 86
  • Accountability: 85
  • Sustainability: 24
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 84.6%; rating input score 85
  • Fundraising efficiency: $5.64 raised per $1 spent on fundraising; rating input score 25; 25th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 83.3%; rating input score 83; 49th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 92.3%; rating input score 92; 25th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -35%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 1.02; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 8.5%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 8.5% per year; rating input score 100; 66th percentile among comparable filings
  • Revenue growth: 4.1% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: 6.6% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 84.6% of spending went to programs
  • Governance: 12 of 13 board members independent · 6 of 8 filing controls reported
  • Programs: 8 filed program accomplishments · $284K in reported program spending
  • Leadership: top reported pay $28K · 13 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 12 filed money-flow records
  • Related organizations: 10 filed related-organization links
  • 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: Fundraising efficiency scored 25/100.
  • High — Sustainability: Operating margin scored 8/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.