Wethersfield Academic Foundation

Nonprofit profile at a glance

EIN
262801522
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-N 2015
Location
Kewanee, IL, USA
Phone
3098534860
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$44,451
Expenses
$34,063
Assets
$573,343
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • JON LOONEY (PRESIDENT)

People named in this filing

  • CHIP EASTMAN (TRUSTEE)
  • JON LOONEY (PRESIDENT)
  • ANGIE RYAN (SECRETARY)

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

The foundation is designed to enhance the educational opportunities within wethersfield community unit school district no 230.

What it reported doing in 2024

The primary purpose of the foundation is to issue grants and scholarships to and for the benefit of wethersfield community unit school district no 230.

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.

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 and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 94
  • Accountability: 82
  • Sustainability: 73
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85%; rating input score 85
  • Program expense ratio: 92.2%; rating input score 92
  • Fundraising efficiency: $22.7 raised per $1 spent on fundraising; rating input score 70; 70th 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; 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; 64th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 23.4%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 16.83; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 0.5% per year; rating input score 100; 53rd percentile among comparable filings
  • Revenue growth: -11.5% per year; rating input score 0; 29th percentile among comparable filings
  • Asset growth: 6.2% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 85% of revenue deployed · 92.2% of spending went to programs
  • Governance: 5 of 5 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $31K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.