Waterford School Holding Corporation

Nonprofit profile at a glance

EIN
274865865
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-T 2024, Form 990-N 2010
Location
Sandy, UT, USA
Phone
8015721780
Rating
81
Verdict
STRONG
Rating confidence
Standard
Sector
Primary, Elementary Schools

Reported finances

Revenue
$38,333,509
Expenses
$38,549,178
Assets
$98,196,903
Liabilities
$50,169,816

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

Leadership & pay

25 people listed

Highest reported compensation

  • ANDREW MENKE (HEAD OF SCHOOL): $480,554 total reported compensation
  • GREG MILES (CHIEF FINANCIAL OFFICER): $264,790 total reported compensation
  • TODD WINTERS (DIRECTOR OF ADVANCEMENT): $250,605 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 provide students with a world-class liberal arts education that stimulates intellect, ignites passion, and shapes character.

What it reported doing in 2024

Operate a pre-k to grade 12 independent school

Operating model

Revenue model
Other-operating. 90% of the money available for current operations came from other operating 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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: 76
  • Transparency & Controls: 88
  • Accountability: 87
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.7%; rating input score 85
  • Program expense ratio: 83.9%; rating input score 84
  • Fundraising efficiency: $1.88 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: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 93.3%; rating input score 93; 26th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • 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: -0.6%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 2.55; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.51; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 5.5%; rating input score 46; 46th percentile among comparable filings

Growth

  • Program expense growth: 8% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 8.3% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: 12.5% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 84.7% of revenue deployed · 83.9% of spending went to programs
  • Governance: 14 of 15 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $32.4M in reported program spending
  • Leadership: top reported pay $481K · 25 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 10 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Operating margin scored 28/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.
  • Moderate — Sustainability: Officer compensation ratio scored 46/100.