Wellington Management Foundation

Nonprofit profile at a glance

EIN
046700836
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Boston, MA, USA
Phone
6179515000
Rating
86
Verdict
STRONG
Rating confidence
Standard
Sector
Federated Giving Programs

Official website

Reported finances

Revenue
$11,829,758
Expenses
$7,364,686
Assets
$46,540,318
Liabilities
$5,481,500

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

Leadership & pay

1 person listed

People named in this filing

  • WELLINGTON TRUST COMPANY NA (TRUSTEE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To support best-in-class programs and organizations in our communities that improve the education and educational opportunities for under-resourced youth.

What it reported doing in 2024

Grants to charitable organizations - in 2024 the foundation funded 75 domestic organizations and 17 foreign organizations with grants ranging in size from $30,000 to $1,090,000. Wellington management company llp (wmc) pays the operating expenses of the foundation and provides office space, investment advisory services and administrative support, valued at $297,241 at no charge to the foundation. During 2024, wmc paid foundation expenses that totaled $179,009.

Operating model

Revenue model
Donor-supported. 70% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 98% 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. Some filing-based governance responses are negative or unanswered and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 97
  • Transparency & Controls: 81
  • Accountability: 70
  • Sustainability: 88
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.4%; rating input score 97
  • Fundraising efficiency: $75.85 raised per $1 spent on fundraising; rating input score 82; 82nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 17th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 2 of 8 controls in place; rating input score 25
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Pass
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 99.6%; rating input score 100; 35th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 37.7%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 6.32; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 12.4% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: 3.8% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.4% of spending went to programs
  • Governance: 13 of 13 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $7.1M in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, foreign activity, and grants
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 75 filed money-flow records
  • Related organizations: 75 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 — Accountability: Governance controls: 5 of 7 not reported.
  • High — Transparency & Controls: Foreign activity oversight: 6 of 8 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.