Wf Assets Inc

Nonprofit profile at a glance

EIN
742783048
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Waco, TX, USA
Phone
2547543404
Rating
52
Verdict
MIXED
Rating confidence
Moderate
Sector
Federated Giving Programs

Official website

Reported finances

Revenue
$3,182,179
Expenses
$44,483
Assets
$5,741,997
Liabilities
$1,750,812

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

Leadership & pay

13 people listed

Executive titles in this filing

  • ASHLEY ALLISON (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ASHLEY ALLISON (EXECUTIVE DIRECTOR): $257,855 total reported compensation
  • ISABEL WEEDEN (CFO/COO): $178,551 total reported compensation

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

Overview

Mission

Wf assets, inc. Provides financial support for waco foundation, a 501(c)(3) public charity.

What it reported doing in 2024

Support for waco foundation: all grants from wf assets, inc. Are used to support the charitable purposes and mission of waco foundation.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 84
  • Accountability: 91
  • Sustainability: 80
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • 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 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 98.6%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 129.08; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.3; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 90.8%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: 8.6% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 8% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 17.5% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 11 of 11 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $258K · 13 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 5 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: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.