The Flatwater Foundation

Nonprofit profile at a glance

EIN
275011867
IRS 990 coverage
2016–2025
Forms available
Form 990 2025, Form 990-EZ 2011
Location
Austin, TX, USA
Phone
5125532010
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Reported finances

Revenue
$1,659,962
Expenses
$1,470,506
Assets
$1,174,369
Liabilities
$47,062

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • CHELSEA HARDEE (CEO)

Highest reported compensation

  • CHELSEA HARDEE (CEO): $153,031 total reported compensation
  • Becky Morales (CMO): $114,029 total reported compensation
  • CHIARA MOORE (Marketing Dir.): $74,525 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Flatwater provides access to mental health therapy for individuals, couples and families navigating cancer.

What it reported doing in 2025

During the year, Flatwater Foundation provided access to mental health support forindividuals and families coping with a cancer diagnosis. The organization received 333 new referrals and served 264 unique participants, delivering a total of 3,658 therapy sessions.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 61% for direct work, and 39% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 75
  • Accountability: 95
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.9%; rating input score 62
  • Program expense ratio: 69.4%; rating input score 69
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 78th 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; 64th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 11.4%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 0.8; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 46; 46th percentile among comparable filings
  • Officer compensation ratio: 24.6%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: 11.6% per year; rating input score 100; 63rd percentile among comparable filings
  • Revenue growth: 10.8% per year; rating input score 100; 63rd percentile among comparable filings
  • Asset growth: 11.7% per year; rating input score 100; 61st percentile among comparable filings

Details

  • Where the money goes: 61.9% of revenue deployed · 69.4% of spending went to programs
  • Governance: 18 of 18 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1M in reported program spending
  • Leadership: top reported pay $153K · 16 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 9 filing years from 2016 to 2025
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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.

  • Review — Sustainability: Operating margin scored 59/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 11/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 46/100.