Silverwood School
Nonprofit profile at a glance
- EIN
- 911423631
- IRS 990 coverage
- 2012–2024
- Forms available
- Form 990 2024
- Location
- Poulsbo, WA, USA
- Phone
- 3606977526
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Primary, Elementary Schools
Reported finances
- Revenue
- $1,660,357
- Expenses
- $1,579,361
- Assets
- $1,438,465
- Liabilities
- $890,674
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- KATIE BRIGGS (VICE-PRESIDENT)
- RISA FERGUSON (PRESIDENT)
Highest reported compensation
- LISA R HEAMAN (HEAD OF SCHOOL): $113,487 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 are an independent school for children in grades k-8. We challenge our students to become confident, compassionate citizens and skilled, life-long learners - literate, motivated and intellectually adventurous.
What it reported doing in 2024
Private day school for kindergarten through eighth grade. Founded in 1984, upon the belief that children are inherently curious, creative, fun-loving, and generous. The mission of the school is to foster these tendencies, and that is what happens every day. We believe that the elementary years are the most important time in a child's life, the time when they can find a love of learning and build a strong foundation which will last the rest of their lives. An especially committed and loving group of teachers encourages interactive and interdisciplinary approaches to learning, paying special attention to the needs of each child. In the classroom, on the playground, or on a field trip, silverwood students and teachers work together to understand our world and each other, to grow as individuals and to contribute to the larger community beyond silverwood. Silverwood school is a member of the northwest association of independent schools, and is approved by the state of Washington.
Operating model
- Revenue model
- Earned-program. 94% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 88% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
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: 73
- Transparency & Controls: 94
- Accountability: 84
- Sustainability: 42
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 78.2%; rating input score 78
- Program expense ratio: 82.3%; rating input score 82
- Fundraising efficiency: $5.32 raised per $1 spent on fundraising; rating input score 19; 19th 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; 76th 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: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 4.9%; rating input score 50; 50th percentile among comparable filings
- Total-asset coverage ratio: 0.91; rating input score 40; 40th percentile among comparable filings
- Liabilities to assets ratio: 0.62; rating input score 12; 12th percentile among comparable filings
- Officer compensation ratio: 7.2%; rating input score 46; 46th percentile among comparable filings
Growth
- Program expense growth: 9.6% per year; rating input score 100; 61st percentile among comparable filings
- Revenue growth: 8.7% per year; rating input score 100; 62nd percentile among comparable filings
- Asset growth: 1.1% per year; rating input score 100; 22nd percentile among comparable filings
Details
- Where the money goes: 78.2% of revenue deployed · 82.3% of spending went to programs
- Governance: 10 of 10 board members independent · 5 of 8 filing controls reported
- Programs: 2 filed program accomplishments · $1.3M in reported program spending
- Leadership: top reported pay $113K · 11 people listed
- Consistency: 28 of 28 current checks pass
- Schedules: 6 filed schedules · includes major donors and grants
- Filing history: 13 filing years from 2012 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 19/100.
- Review — Accountability: Governance controls: 2 of 7 not reported.
- Review — Sustainability: Operating margin scored 50/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 40/100.
- High — Sustainability: Liabilities to assets ratio scored 12/100.
- Moderate — Sustainability: Officer compensation ratio scored 46/100.