Wispact Inc

Nonprofit profile at a glance

EIN
020704244
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Madison, WI, USA
Phone
6082686006
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Centers to Support the Independence of Specific Populations

Reported finances

Revenue
$13,007,918
Expenses
$8,416,127
Assets
$26,188,865
Liabilities
$529,153

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

Leadership & pay

22 people listed

Executive titles in this filing

  • KEVIN HAYDE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KEVIN HAYDE (EXECUTIVE DIRECTOR): $236,567 total reported compensation

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

Overview

Mission

We enhance the well-being of people of all ages with disabilities across Wisconsin through the management of special needs trusts by promoting more choice and opportunities.

What it reported doing in 2024

Beneficiary and creator services - provide information, referral, advocacy, and oversight to and for persons who create or benefit by special needs trust accounts for disabled persons. Beneficiary specialists process disbursement requests for beneficiaries out of their trust accounts. Trust advisors coordinate the set-up of new trust accounts created.

Operating model

Revenue model
Earned-program. 97% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 62% of its reported program spending for member benefits.

The verdict

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 68
  • Accountability: 100
  • Sustainability: 84
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 55%; rating input score 55
  • Program expense ratio: 87.8%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 10th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 94.4%; rating input score 94; 24th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 35.3%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 3.11; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 90; 90th percentile among comparable filings
  • Officer compensation ratio: 2.8%; rating input score 70; 70th percentile among comparable filings

Growth

  • Program expense growth: 16.2% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: 13.7% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 16.2% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 55% of revenue deployed · 87.8% of spending went to programs
  • Governance: 21 of 21 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $7.4M in reported program spending
  • Leadership: top reported pay $237K · 22 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 36 of 37 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 77 filed money-flow records
  • Related organizations: 76 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 55/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.