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Westlake Academy Foundation FY2021 filing

Tax-deductible

Westlake, TX501(c)(3)Since 2003 EIN 20-0033926Revenue $1.5M in FY2021

On file with the IRSwestlakeacademy.org/waf2600 J T Ottinger Rd, 76262-8012 · Westlake, TXTax-exempt since Oct 2004Publicly supported charity — 170(b)(1)(A)(vi)

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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.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $108K a year · 6% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Plus $2.4M in investments, Pt X · Ln 11–13
Looks good: 7.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
12
named funders · $1000K
Looks good: 12 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$8K
0.2% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.5M
-8% vs prior year
Spent
$1.3M
To programs
94%
Net assets
$3.2M
By yearFY2020–FY2024
Revenue
$1.5M
FY2021▼ -8%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.6M
FY2021$1.5M
FY2022$2.3M
FY2023$1.8M
FY2024$1.5M
FY2024$2.1M
Expenses
$1.3M
FY2021▼ -9%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.4M
FY2021$1.3M
FY2022$2.3M
FY2023$1.6M
FY2024$1.6M
FY2024$1.7M
Net assets
$3.2M
FY2021▲ +21%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.7M
FY2021$3.2M
FY2022$2.7M
FY2023$3.1M
FY2024$3.1M
FY2024$3.6M

From the FY2021 Form 990 (year ending August 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2004.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $1.2M Management & general 5% · $64K Fundraising 1% · $8K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Meghan Dorr
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Dr Ahu Sieg
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Sean Shope
Treasurer
$0Pt VII · Sec A
Leah Rennhack
Vice President
$0Pt VII · Sec A
See Westlake Academy Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Funds Westlake Academy's pursuit of academic excellence and global learner development.

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Provided by the organization

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1 program · $1.2M · in their own filed words · FY2020
01

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

$1.2Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Communities Foundation of Texas INCFY2024$568K
Raymond James Charitable Endowment FundFY2024$231K
Fidelity Investments Charitable Gift FundFY2024$62K
American Online Giving Foundation INCFY2024$47K
Fidelity FoundationFY2024$26K
Dallas Jewish Community FoundationFY2024$20K
Charities Aid Foundation AmericaFY2024$18K
Donor Advised Charitable Giving INCFY2024$11K
Total grants receivedfrom 12 funders$1000K
See all 12 funders →
Grants paid · 6 grants · $8.8M · 2019–2024
Westlake AcademyFY2024$1,311,671
Westlake Academy INCOH · FY2023$1,129,384
Westlake AcademyFY2022$1,532,696
Westlake AcademyFY2021$2,254,045
Westlake AcademyFY2020$1,202,419
Westlake AcademyFY2019$1,346,016

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.5M
Ln 12
Gifts and grantsLn 1h$1.4M
Investment incomeLn 3$127K
Money outPt IX
$1.3M
Ln 25
Programscol B$1.2M
Managementcol C$64K
Fundraisingcol D$8K
Owns and owesPt X
$3.2M
net assets · Ln 32
Cash and savingsLn 1–2$799K
Total assetsLn 16$3.2M
LiabilitiesLn 26$8K
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.4M
Noncash giftsLn 1g$73K
Fundraising eventsLn 1c$442K
Investment incomeLn 3$127K
Gains on assetsLn 7$77K
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
SavingsLn 2$799K
Cash and savings togetherLn 1–2$799K
InvestmentsLn 11–13$2.4M
Total assetsLn 16$3.2M
LiabilitiesLn 26$8K
Net assetsLn 32$3.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 650
Fiscal year endsHeaderAugust
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$745K$799K
InvestmentsLn 11–13$1.9M$2.4M
Total assetsLn 16$2.7M$3.2M
LiabilitiesLn 26$8K$8K
Net assetsLn 32$2.7M$3.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.2M$1.2M
Accounting feesLn 11c$10K$10K
Other fees for servicesLn 11g$1K$1K
Advertising and promotionLn 12$16K$16K
Office expensesLn 13$33K$25K$8K
Information technologyLn 14$3K$3K
Conferences, conventions and meetingsLn 19$1K$1K
Other expenses (24a–d)Ln 24$8K$8K
Total functional expensesLn 25$1.3M$1.2M$64K$8K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $1.5M$1.6M−$114K$3.1M 990 PDF
FY2023 $1.8M$1.6M$219K$3.1M 990 PDF
FY2022 $2.3M$2.3M$3K$2.7M 990 PDF
FY2021 Viewing $1.5M$1.3M$216K$3.2M 990 PDF
FY2020 $1.6M$1.4M$217K$2.7M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $1,490,806 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,618,821$1,431,043
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $81,835$127,006
I-11 Other revenuePrior year −$76,896−$67,243
I-12 Total revenuePrior year $1,623,760$1,490,806
I-13 Grants and similar amounts paidPrior year $1,346,016$1,202,419
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $61,184$71,939
I-18 Total expensesPrior year $1,407,200$1,274,358
I-19 Revenue less expensesPrior year $216,560$216,448
Part VI · Governance 11 of 11 board members independent, 4 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $1,490,806 across 8 lines filed
VIII-1c Fundraising events$441,651
VIII-1f All other contributions, gifts and grants$989,392
VIII-1g Noncash contributions (included above)$72,802
VIII-1h Total contributions, gifts and grants$1,431,043
VIII-3 Investment incomeExcluded from tax $49,924$49,924
VIII-7 Net gain or loss on sales of assetsExcluded from tax $77,082$77,082
VIII-8 Net income from fundraising eventsExcluded from tax −$67,243−$67,243
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $59,763$1,490,806
Part IX · Statement of functional expenses $1,274,358 across 8 lines filed
IX-1 Grants to domestic organizationsPrograms $1,202,419$1,202,419
IX-11c Accounting feesManagement $9,900$9,900
IX-11g Other fees for servicesManagement $1,078$1,078
IX-12 Advertising and promotionManagement $15,901$15,901
IX-13 Office expensesManagement $25,054 · Fundraising $8,071$33,125
IX-14 Information technologyManagement $3,105$3,105
IX-19 Conferences, conventions and meetingsManagement $1,152$1,152
IX-24 Other expenses (24a–d)Management $7,678$7,678
IX-25 Total functional expensesPrograms $1,202,419 · Management $63,868 · Fundraising $8,071$1,274,358
Part X · Balance sheet $3,244,083 assets, 9 lines filed
X-2 Savings and temporary cash investmentsStart of year $744,789$799,173
X-11 Publicly traded securitiesStart of year $1,927,540$2,444,910
X-16 Total assetsStart of year $2,677,971$3,244,083
X-17 Accounts payable and accrued expensesStart of year $8,410$7,600
X-26 Total liabilitiesStart of year $8,410$7,600
X-27 Net assets without donor restrictionsStart of year $2,371,259$2,877,603
X-28 Net assets with donor restrictionsStart of year $298,302$358,880
X-32 Total net assets or fund balancesStart of year $2,669,561$3,236,483
X-33 Total liabilities and net assetsStart of year $2,677,971$3,244,083
Part XI · Reconciliation of net assets $3,236,483 net assets at year end
XI-1 Total revenue$1,490,806
XI-2 Total expenses$1,274,358
XI-3 Revenue less expenses$216,448
XI-4 Net assets at start of year$2,669,561
XI-5 Net unrealized gains (losses) on investments$350,474
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,236,483

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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