Wayforward Resources Inc

Analysis

Wayforward Resources Inc is a registered charity in United States, based in Middleton, WI. It received its IRS tax-exemption ruling in August 1984, 42 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Wayforward Resources Inc reported income of $6.2m and spending of $6.0m, spending 98% of its income. Across the 5 years on record, from March 2020 to March 2024, income grew from $3.9m to $6.2m (+60%), an average of +13% a year. The sharpest change came in the year to March 2024, when income rose by 38%. Over the whole period it spent 91% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Wayforward Resources Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within WI. Charities of a similar size with the same main cause include The Childrens Shelter ($6.2m), Hope House Day Care Center Inc ($6.2m) and Beta Community Partnerships Inc ($6.2m).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $123k (2.0% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $4.6m against liabilities of $613k, net assets of $4.0m.