Wollaston Lutheran Foundation Inc

Nonprofit profile at a glance

EIN
853449732
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Quincy, MA, USA
Phone
6174790248
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Private Grantmaking Foundations
Affiliation
Christianity

Reported finances

Revenue
$1,202,819
Expenses
$671,564
Assets
$19,710,331
Liabilities
$7,000

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

Leadership & pay

10 people listed

Executive titles in this filing

  • TIMOTHY WISMAR (PRESIDENT/TR)

Highest reported compensation

  • TIMOTHY WISMAR (PRESIDENT/TR): $444,067 total reported compensation
  • REV STEVE LAW (DIRECTOR/VIC): $294,993 total reported compensation

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

Overview

Mission

Hold, invest, manage, and deploy funds for the charitable purposes of supporting programs and activities that benefit individuals who reside in and around quincy, Massachusetts. Support four named non-profits, and others, which do the same.

What it reported doing in 2024

The organization made several donations to the wollaston lutheran church of quincy, ma to support their efforts to provide a parsonage for church staff and ongoing programs. A smaller donation was given for the support of a church in zimbabwe.

Operating model

Revenue model
Investment-supported. 80% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 57
  • Accountability: 64
  • Sustainability: 84
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.5%; rating input score 68
  • Program expense ratio: 99.2%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Fail
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 70%; rating input score 70; 15th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 44.2%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 29.35; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 12.7%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 60.2% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: -2.4% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: 4.1% per year; rating input score 100; 34th percentile among comparable filings

Details

  • Where the money goes: 68.5% of revenue deployed · 99.2% of spending went to programs
  • Governance: 7 of 10 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $666K in reported program spending
  • Leadership: top reported pay $444K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 7 filed schedules · includes foreign activity, grants, and executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight: 8 of 8 not reported.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.