Wheaton Academy

Nonprofit profile at a glance

EIN
362388793
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
West Chicago, IL, USA
Phone
6305627500
Rating
78
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Secondary, High School

Official website

Reported finances

Revenue
$23,395,462
Expenses
$21,587,753
Assets
$65,807,361
Liabilities
$22,179,931

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

Leadership & pay

22 people listed

Executive titles in this filing

  • MARK ANDERSON (PRESIDENT)
  • MIKE ENGLISH (VICE PRESIDENT)

Highest reported compensation

  • STEVEN BULT (HEAD OF SCHOOL / TRUSTEE): $292,997 total reported compensation
  • STEVE KARLSON (COO/CFO): $261,320 total reported compensation
  • PHIL STRZALKA (BUSINESS & INNOVATION PROG. DIRECTOR): $190,864 total reported compensation

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

Overview

Mission

Provide an educational program that is characterized by biblical values and traditional educational standards using innovative curriculum centered on a caring student/teacher relationship.

What it reported doing in 2024

Operation of accredited high school with an enrollment of approximately 650 students.

Operating model

Revenue model
Other-operating. 72% of the money available for current operations came from other operating revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 79% for direct work, and 21% for 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. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 85
  • Accountability: 88
  • Sustainability: 60
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.2%; rating input score 69
  • Program expense ratio: 74.2%; rating input score 74
  • Fundraising efficiency: $6.49 raised per $1 spent on fundraising; rating input score 27; 27th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.7%; rating input score 95; 24th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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: 87.5%; rating input score 88; 20th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 7.7%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 3.05; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.34; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 7.1%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 2.2% per year; rating input score 100; 20th percentile among comparable filings
  • Revenue growth: 4.4% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 69.2% of revenue deployed · 74.2% of spending went to programs
  • Governance: 14 of 16 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $16M in reported program spending
  • Leadership: top reported pay $293K · 22 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $14.8M reported
  • Consistency: 36 of 37 current checks pass · 1 finding to review
  • Schedules: 11 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 2 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 27/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.