WaterStone

Legal name: Waterstone Supporting Organization Trust 1

Nonprofit profile at a glance

EIN
454295864
IRS 990 coverage
2014–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Colorado Springs, CO, US
Phone
(719) 447-4620
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support
Affiliation
Christianity

Official website

Reported finances

Revenue
$61,792,016
Expenses
$23,484,908
Assets
$235,579,666
Liabilities
$5,029,071

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

Leadership & pay

3 people listed

Highest reported compensation

  • RICHARD VON GNECHTEN (TRUSTEE): $348,525 total reported compensation
  • CHRIS START (TRUSTEE): $304,344 total reported compensation

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

Overview

Mission

Honoring God through the transformational power of giving. Serving Givers at the intersection of faith and finance. Building the Kingdom by transforming assets into living water.

What it reported doing in 2024

The trust is organized and operated to support christian community foundation dba waterstone and other public charities whose work furthers waterstone's purposes by receiving and managing charitable contributions to support those ministries.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most filed governance safeguards are in place. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 71
  • Accountability: 61
  • Sustainability: 94
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 48.8%; rating input score 49
  • Program expense ratio: 92.1%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 10th percentile among comparable filings
  • Governance controls: 7 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: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 62%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 10.03; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 93; 93rd percentile among comparable filings
  • Officer compensation ratio: 0.2%; rating input score 90; 90th percentile among comparable filings

Growth

  • Program expense growth: 13.2% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 13.3% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 18.2% per year; rating input score 100; 91st percentile among comparable filings

Details

  • What they do: 7 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 48.8% of revenue deployed · 92.1% of spending went to programs
  • Governance: 1 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $21.6M in reported program spending
  • Leadership: top reported pay $349K · 3 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $980K reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 5 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 18 filed related-organization links
  • 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 49/100.
  • Moderate — Accountability: Independent voting board scored 33/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.