Broadwater Academy Foundation

Nonprofit profile at a glance

EIN
455245398
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Exmore, VA, USA
Phone
7574429041
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$209,312
Expenses
$82,336
Assets
$1,754,311
Liabilities
$88,670

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

Leadership & pay

14 people listed

People named in this filing

  • CHRIS WILLIS (Chair)
  • Daniel Hooper (Treasurer)
  • JON WEHNER (Vice Chair)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The organization's mission is to raise, manage and distribute funds solely for the benefit of the students of broadwater academy and for the improvements to the broadwater academy education, environment, including but not limited to, program enhancements, technological students of broadwater academy and for the improvements to the broadwater academy education, environment, including but not limited to, program enhancements, technological improvements, facilities enrichment, and scholarships for students

What it reported doing in 2024

Provide scholarship and operating grants to broadwater academy

Operating model

Revenue model
Donor-supported. 62% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 49
  • Transparency & Controls: 100
  • Accountability: 82
  • Sustainability: 84
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 46%; rating input score 46
  • Program expense ratio: 69.2%; rating input score 69
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 60.7%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 21.31; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -12.4% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: -14.8% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: 1% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 46% of revenue deployed · 69.2% of spending went to programs
  • Governance: 14 of 14 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $57K in reported program spending
  • Leadership: top reported pay $0 · 14 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 46/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 32/100.