Wex Foundation

Nonprofit profile at a glance

EIN
010932048
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-N 2016
Location
San Antonio, TX, USA
Phone
2104042981
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$455,757
Expenses
$311,587
Assets
$262,606
Liabilities
$80,037

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

Leadership & pay

5 people listed

Highest reported compensation

  • LOUISE CANTWELL (EXECUTIVE DIRECTORSECRETARY): $24,000 total reported compensation

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

Overview

Mission

To promote, encourage, and support the covergence of stem education in k-12 curriculum.

What it reported doing in 2024

Provided stem based programs to underrepresented minorities to assist aerospace professionals in solving real-world exploration technology development challenges.

Operating model

Revenue model
Grant-funded. 88% of the money available for current operations came from government grants.
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 a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 55
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.4%; rating input score 61
  • Program expense ratio: 89.7%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 9th percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 31.6%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 0.84; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0.3; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 7.7%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: -0.3% per year; rating input score 0; 29th percentile among comparable filings
  • Revenue growth: 1.2% per year; rating input score 100; 30th percentile among comparable filings
  • Asset growth: -2.7% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 61.4% of revenue deployed · 89.7% of spending went to programs
  • Governance: 4 of 4 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $280K in reported program spending
  • Leadership: top reported pay $24K · 5 people listed
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Growth: Program expense growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.