Wade Edwards Foundation

Nonprofit profile at a glance

EIN
561970957
IRS 990 coverage
2016–2023
Forms available
Form 990 2023
Location
Raleigh, NC, USA
Phone
9198569233
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Reported finances

Revenue
$119,476
Expenses
$417,817
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

12 people listed

Highest reported compensation

  • BETSEY MCFARLAND (EXECUTIVE DI): $82,603 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To empower the high school community by providing opportunities for achievement, enrichment and service, enabling life-long academic, professional and personal success.

What it reported doing in 2023

The wade edwards foundation offers after school academic support, post- secondary planning and summer technology and enrichment programs to wake county high school students. Programming includes access to the computer lab, positive youth development workshops and community service programs. The foundation fills a critical gap for high school students with few opportunities available to them in the community. Our core services include tutoring and academic assistance, post-secondary planning, act/sat test prep, work-force development skill building, and opportunities for community service. In addition, our hi-tech teens program offers monthly workshops on stem subjects. During the 2022-2023 school year the wade edwards foundation served over 200 students from 16 different high schools.

Operating model

Revenue model
Affiliate-supported. 79% of the money available for current operations came from contributions from related organizations.
Distribution model
Hybrid. The nonprofit split its reported program spending across 47% for direct work, and 53% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 92
  • Transparency & Controls: 94
  • Accountability: 74
  • Sustainability: 5
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 92.2%; rating input score 92
  • Fundraising efficiency: $18.88 raised per $1 spent on fundraising; rating input score 56; 56th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 81st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90.9%; rating input score 91; 25th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -249.7%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 5%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 16.8% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: -1.3% per year; rating input score 0; 21st percentile among comparable filings
  • Asset growth: -2.8% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 92.2% of spending went to programs
  • Governance: 10 of 11 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $385K in reported program spending
  • Leadership: top reported pay $83K · 12 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 8 filing years from 2016 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 56/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.