Waterford Country School Inc

Nonprofit profile at a glance

EIN
060861862
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2023
Location
Quaker Hill, CT, USA
Phone
8604429454
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Specialized Education Institutions

Official website

Reported finances

Revenue
$12,884,162
Expenses
$12,942,560
Assets
$15,570,556
Liabilities
$2,265,350

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

Leadership & pay

22 people listed

Executive titles in this filing

  • CHRIS LACEY (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • CHRIS LACEY (CHIEF EXECUTIVE OFFICER): $151,414 total reported compensation
  • SHARON BUTCHER (DIRECTOR OF EDUCATION): $124,057 total reported compensation
  • STACY LOWRY (CHIEF FINANCIAL OFFICER): $118,934 total reported compensation

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

Overview

Mission

Waterford country school is dedicated to doing "whatever it takes" to enrich the lives of children and strengthen families through specialized programs, resources, and community services. Waterford country school holds as its core value interpersonal relationships based upon respect, compassion and hope.

What it reported doing in 2024

Therapeutic foster care (tfc) is a time limited, intensive coordinated clinical level of foster care provided to children assessed to have complex trauma, serious emotional disturbances, mental health disorders including substance use. Licensed therapistsprovide an in-home clinical level of treatment using the functional family therapy - foster care model, in collaboration with foster parents who are highly skilled and trained. Foster parents receive intensive clinical training and support to help childrenstabilize in placement, ameliorate their social emotional struggles and achieve permanency. Tfc also provides in-home intensive services post permanency outcome- reunification, guardianship or adoption.

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 89
  • Accountability: 100
  • Sustainability: 41
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.4%; rating input score 83
  • Program expense ratio: 85.1%; rating input score 85
  • Fundraising efficiency: $2.04 raised per $1 spent on fundraising; rating input score 6; 6th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.5%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 1.2; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.15; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 4%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -2.4% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -0.8% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 3.1% per year; rating input score 100; 23rd percentile among comparable filings

Details

  • Where the money goes: 83.4% of revenue deployed · 85.1% of spending went to programs
  • Governance: 18 of 18 board members independent · 9 of 9 filing controls reported
  • Programs: 7 filed program accomplishments · $11M in reported program spending
  • Leadership: top reported pay $151K · 22 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.5M reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 8 filed schedules · includes major donors and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • 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.

  • High — Financial Efficiency: Fundraising efficiency scored 6/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 29/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.