Wev Funding Solutions

Nonprofit profile at a glance

EIN
934132075
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Santa Barbara, CA, USA
Phone
8059656073
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Small Business Development

Reported finances

Revenue
$140,323
Expenses
$40,290
Assets
$1,760,661
Liabilities
$1,074,306

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

Leadership & pay

6 people listed

Executive titles in this filing

  • NICOLA PARR (CEO)

Highest reported compensation

  • NICOLA PARR (CEO): $156,704 total reported compensation

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

Overview

Mission

Wev funding solutions empowers women and underserved communities through friendly, equitable access to low-cost capital and supportive resources. We are committed to furthering economic justice and helping break barriers to economic independence by providing a safe, collaborative space for all clients to learn, grow and thrive. Wev funding solutions provides small business loans to help primarily low-income women start or grow a small business.

What it reported doing in 2024

Wev funding solutions (wfs) provides small business loans to help primarily low income women start or grow a small business. In 2024, it funded five micro-loans totaling 42,500 and maintained an existing loan portfolio of over 75 loans totaling approximately 1 million.

Operating model

Revenue model
Donor-supported. 86% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 79
  • Accountability: 95
  • Sustainability: 77
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 30.5%; rating input score 30
  • Program expense ratio: 99.9%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 71.3%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 43.7; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.61; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 23.9%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 30.5% of revenue deployed · 99.9% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $40K in reported program spending
  • Leadership: top reported pay $157K · 6 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 30/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.