Waterloo Community Schools Foundation

Nonprofit profile at a glance

EIN
421364293
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Waterloo, IA, USA
Phone
3192140134
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$537,254
Expenses
$330,375
Assets
$1,619,797
Liabilities
$0

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

Leadership & pay

21 people listed

Executive titles in this filing

  • ADIJAN ABDIC (PRESIDENT)
  • SHANTE WALLICAN-NESBIT (PAST PRESIDENT)
  • KINON O'NEAL (VICE-PRESIDENT)
  • HANNAH LUCE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • HANNAH LUCE (EXECUTIVE DIRECTOR): $81,621 total reported compensation

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

Overview

Mission

To fund, inspire and promote educational opportunities for all in the waterloo schools.

What it reported doing in 2024

The waterloo community schools foundation (wsf) is a 501(c)3 nonprofit organization that exists to enhance academic opportunities in the waterloo community schools district (wcsd). The wsf solicits funding from local businesses, organizations, households, and other private entities to sustain their mission and ensure ongoing community support for the success of waterloo's public education. Funding is distributed in 3 areas; 1) district initiatives, which are large-scale annual projects prioritized by the superintendent and wcsd board of education 2) teacher grants, which bring innovative teaching and learning to classrooms across the wcsd and 3) student grants that bridge financial gaps for students to attend and experience unique individual learning opportunities outside of the classroom. Over the last 15 years, the wsf has pledged and gifted over $3 million to support 12 district initiatives, 158 teacher grants, and 78 student grants.

Operating model

Revenue model
Donor-supported. 70% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 85% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 34
  • Transparency & Controls: 94
  • Accountability: 90
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 33.9%; rating input score 34
  • Program expense ratio: 43.5%; rating input score 43
  • Fundraising efficiency: $3.12 raised per $1 spent on fundraising; rating input score 9; 9th 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 38.5%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 4.9; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 24.7%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 5.4% per year; rating input score 100; 44th percentile among comparable filings
  • Revenue growth: 5.5% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 12% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 33.9% of revenue deployed · 43.5% of spending went to programs
  • Governance: 20 of 20 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $144K in reported program spending
  • Leadership: top reported pay $82K · 21 people listed
  • Consistency: 33 of 33 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 34/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 43/100.
  • High — Financial Efficiency: Fundraising efficiency scored 9/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 10/100.