Waverly-shell Rock Educational Fund

Nonprofit profile at a glance

EIN
462385902
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2019
Location
Waverly, IA, USA
Phone
3193523630
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$127,768
Expenses
$102,707
Assets
$689,996
Liabilities
$0

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

Leadership & pay

9 people listed

Executive titles in this filing

  • ROGER WILCOX (PRESIDENT)

People named in this filing

  • ROGER WILCOX (PRESIDENT)
  • MARK PLATTE (VICE PRESIDE)
  • CHRIS FOY (TREASURER)

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

To encourage and promote the improvement of the quality of education of all kinds, including athletics, in the waverly-shell rock community school district by providing a mechanism through which additional resources can be obtained through private contributions and grants of all kinds, where appropriate for such an organization, for allocation to worthwhile educational programs and facilities.

What it reported doing in 2024

Provided scholarships to district students who have demonstrated good citizenship, community involvement, and academic achievement throughout their school careers and are seeking higher education.

Operating model

Revenue model
Donor-supported. 79% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 74% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 94
  • Accountability: 64
  • Sustainability: 77
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.6%; rating input score 90
  • Program expense ratio: 98.6%; rating input score 99
  • Fundraising efficiency: Limited

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: 100%; rating input score 100; 80th 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: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 19.6%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 6.72; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 6.3% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 12.7% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 10.2% per year; rating input score 100; 66th percentile among comparable filings

Details

  • Where the money goes: 89.6% of revenue deployed · 98.6% of spending went to programs
  • Governance: 9 of 9 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $101K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 5 of 6 not reported.