Waterford Foundation for Public Education

Nonprofit profile at a glance

EIN
382528009
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Waterford, MI, USA
Phone
2486739898
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$265,579
Expenses
$188,879
Assets
$2,373,370
Liabilities
$190,537

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

Leadership & pay

3 people listed

Executive titles in this filing

  • JOHN HIMMELSPACH (PRESIDENT)

People named in this filing

  • MARGIE GOBLER (TREASURER)
  • JOHN HIMMELSPACH (PRESIDENT)
  • MEGAN MCCOY (SECRETARY)

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 receives formal requests for grants from various schools within the local school district. These requests are reviewed by the grant committee and recommendations made to the board as a whole. The board determines whether the grants are approved and monies allocated accordingly.

What it reported doing in 2024

Other grants to waterford schools for educational assistance. Events held to recognize the achievements attained by individual students and teachers of the waterford school district. Mls legacy program providing waterford school district with program grants on a district wide basis versus to individual teachers and schools.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 76
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.5%; rating input score 64
  • Program expense ratio: 74.1%; rating input score 74
  • Fundraising efficiency: $13.11 raised per $1 spent on fundraising; rating input score 47; 47th percentile among comparable filings

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: Limited
  • 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: Pass
    • Document-retention policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 28.9%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 12.57; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 5.9% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: 1.7% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: 6.3% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 63.5% of revenue deployed · 74.1% of spending went to programs
  • Governance: 15 of 15 board members independent · 4 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $140K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Accountability: Governance controls: 2 of 6 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 47/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.