Williams Memorial Institute

Nonprofit profile at a glance

EIN
060646964
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
New London, CT, USA
Phone
8604435333
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Secondary, High School

Official website

Reported finances

Revenue
$8,952,878
Expenses
$8,954,053
Assets
$30,612,215
Liabilities
$7,969,803

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

Leadership & pay

33 people listed

Executive titles in this filing

  • DWAYNE XENELIS (PRESIDENT)
  • ROBERT KAPLAN (VICE PRESIDENT)

Highest reported compensation

  • MARK FADER (HEAD OF SCHOOL): $432,639 total reported compensation
  • SHARON GAUDREAU (ASST. HEAD OF SCHOOL FOR ENROLLMENT): $161,744 total reported compensation
  • JANE HANNON (ASST. HEAD OF SCHOOL FOR TEACHING/LEARNING): $155,483 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 foster the intellectual, moral, creative, and physical development of students in preparation for college, lifelong learning, and active participation in an evolving world.

What it reported doing in 2024

Williams memorial institute's primary program service is providing education for approximately 191 students from grades six through twelve.

Operating model

Revenue model
Earned-program. 81% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 77% for direct work, and 23% 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 83
  • Accountability: 88
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.4%; rating input score 72
  • Program expense ratio: 79.6%; rating input score 80
  • Fundraising efficiency: $3.36 raised per $1 spent on fundraising; rating input score 10; 10th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Pass
    • Written employment contract: Missing
    • 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: 88%; rating input score 88; 19th 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: -0%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 3.42; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0.26; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 12.3%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 0.9% per year; rating input score 100; 17th percentile among comparable filings
  • Revenue growth: 1.2% per year; rating input score 100; 16th percentile among comparable filings
  • Asset growth: 4.4% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 72.4% of revenue deployed · 79.6% of spending went to programs
  • Governance: 22 of 25 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $7.1M in reported program spending
  • Leadership: top reported pay $433K · 33 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $306K reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • 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 — Financial Efficiency: Fundraising efficiency scored 10/100.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 24/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 38/100.