Breakwater Learning

Nonprofit profile at a glance

EIN
010249577
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Portland, ME, USA
Phone
2077728689
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$5,029,887
Expenses
$5,275,147
Assets
$5,650,338
Liabilities
$2,926,051

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

Leadership & pay

9 people listed

Executive titles in this filing

  • CHAD SNOW (PRESIDENT)
  • REBECCA FRASER-THILL (VICE PRESIDENT)
  • MAGGIE LYON (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MAGGIE LYON (EXECUTIVE DIRECTOR): $102,953 total reported compensation

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

Overview

Mission

See schedule o.

What it reported doing in 2024

Breakwater learning is a not-for-profit learning center that runs an independent day school offering toddler, preschool, grade kindergarden through eight, after school programming and summer camp opportunities to the community.

Operating model

Revenue model
Earned-program. 89% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 80% for direct work, and 20% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 94
  • Accountability: 84
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.8%; rating input score 93
  • Program expense ratio: 88.5%; rating input score 88
  • Fundraising efficiency: $3.9 raised per $1 spent on fundraising; rating input score 12; 12th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Fail

Sustainability

  • Operating margin: -4.9%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 1.07; rating input score 39; 39th percentile among comparable filings
  • Liabilities to assets ratio: 0.52; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 2%; rating input score 76; 76th percentile among comparable filings

Growth

  • Program expense growth: 6.7% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: 6% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: 3.6% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 92.8% of revenue deployed · 88.5% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $4.7M in reported program spending
  • Leadership: top reported pay $103K · 9 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2010 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.

  • High — Financial Efficiency: Fundraising efficiency scored 12/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 20/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 39/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.