Watershed High School
Nonprofit profile at a glance
- EIN
- 470858757
- IRS 990 coverage
- 2013–2024
- Forms available
- Form 990 2024
- Location
- Richfield, MN, USA
- Phone
- 6128714363
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Charter Schools
Reported finances
- Revenue
- $944,495
- Expenses
- $1,027,503
- Assets
- $825,454
- Liabilities
- $803,778
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
8 people listed
Executive titles in this filing
- Elizabeth Kneip (Executive Director)
Highest reported compensation
- Elizabeth Kneip (Executive Director): $76,620 total reported compensation
- Hayley Grey (Member/Teacher (end 3.9.25)): $51,556 total reported compensation
- Ryan Cooper (Member and Teacher): $47,544 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The mission of Watershed High School is to empower students to grow socially and academically in a safe, flexible, supportive arts-infused environment.
What it reported doing in 2024
Watershed High School's vision is to help each student believe they can succeed in whatever they dream for themselves, starting with graduating from high school. Students will develop self-confidence, respect for themselves and others, the ability to advocate for themselves, and the ability to stick it out when the going gets tough. At Watershed, a community of allies recognizes and encourages each individual student's strengths.
Operating model
- Revenue model
- Grant-funded. 97% of the money available for current operations came from government grants.
- 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of voting board members are independent and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 67
- Transparency & Controls: 92
- Accountability: 75
- Sustainability: 22
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 77.5%; rating input score 78
- Program expense ratio: 71.1%; rating input score 71
- Fundraising efficiency: Limited
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: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 57.1%; rating input score 57; 12th percentile among comparable filings
- Governance controls: 8 of 8 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: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -8.8%; rating input score 18; 18th percentile among comparable filings
- Total-asset coverage ratio: 0.8; rating input score 36; 36th percentile among comparable filings
- Liabilities to assets ratio: 0.97; rating input score 6; 6th percentile among comparable filings
- Officer compensation ratio: 18.5%; rating input score 17; 17th percentile among comparable filings
Growth
- Program expense growth: 3.1% per year; rating input score 100; 32nd percentile among comparable filings
- Revenue growth: 3.1% per year; rating input score 100; 32nd percentile among comparable filings
- Asset growth: 6% per year; rating input score 100; 43rd percentile among comparable filings
Details
- Where the money goes: 77.5% of revenue deployed · 71.1% of spending went to programs
- Governance: 4 of 7 board members independent · 8 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $730K in reported program spending
- Leadership: top reported pay $77K · 8 people listed
- Consistency: 27 of 27 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Filing history: 12 filing years from 2013 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.
- Review — Accountability: Independent voting board scored 57/100.
- High — Sustainability: Operating margin scored 18/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
- High — Sustainability: Liabilities to assets ratio scored 6/100.
- High — Sustainability: Officer compensation ratio scored 17/100.