Westlake Academy Foundation

Nonprofit profile at a glance

EIN
200033926
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Westlake, TX, USA
Phone
8174905722
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$2,065,723
Expenses
$1,660,607
Assets
$3,626,067
Liabilities
$31,813

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

Leadership & pay

11 people listed

Executive titles in this filing

  • SHELLY MYERS (EXECUTIVE DIRECTOR)
  • MICHAEL COLBY (PRESIDENT)
  • MEGHAN DORR (VICE PRESIDENT)

Highest reported compensation

  • SHELLY MYERS (EXECUTIVE DIRECTOR): $156,922 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 provide financial support for westlake academy in its efforts to provide students with an internationally-minded education of the highest quality, so they are well-balanced and respectful life-long learners.

What it reported doing in 2024

Provide "above and beyond" support for activities and initiatives of academy outside of the annual budget. Grants have funded new curriculum programs, classroom projects, new equipment, smartboards and professional development/training.

Operating model

Revenue model
Donor-supported. 95% of the money available for current operations came from contributions and gifts.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 71
  • Accountability: 74
  • Sustainability: 74
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.2%; rating input score 80
  • Program expense ratio: 91%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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; 72nd 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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 19.6%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 2.18; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 86; 86th percentile among comparable filings
  • Officer compensation ratio: 1.2%; rating input score 79; 79th percentile among comparable filings

Growth

  • Program expense growth: 3.7% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: 3.2% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: 7.4% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 80.2% of revenue deployed · 91% of spending went to programs
  • Governance: 10 of 10 board members independent · 3 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $1.5M in reported program spending
  • Leadership: top reported pay $157K · 11 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.