Westlake Academy Foundation FY2024 filing

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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

FY2024 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $158K a year · 9% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
5 mo
of spending, in cash
Plus $2.6M in investments, Pt X · Ln 11–13
Looks good: 4.8 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
$34K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 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
-21% vs prior year
Spent
$1.6M
To programs
94%
Net assets
$3.1M
By yearFY2020–FY2025
Revenue
$1.5M
FY2024▼ -21%
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
FY2025$2.1M
Expenses
$1.6M
FY2024▼ -3%
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
FY2025$1.7M
Net assets
$3.1M
FY2024▲ +1%
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
FY2025$3.6M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. 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% · $1.5M Management & general 6% · $92K

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

11 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
See Westlake Academy Foundation executive salaries →

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.

Questions for Westlake Academy Foundation

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3 programs · $1.5M · in their own filed words · FY2023
01

Blacksmith annual fund donations help fill the funding gap in westlake academy's annual operating budget. 100% of donations received through the blacksmith annual fund campaign are transferred directly to the academy.

$1.1Mprogram expense
02

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.

$310Kprogram expense
03

Initiative to Support the Academy's Teacher Retention Efforts

Faculty and staff receive $1,100 in gift cards to purchase classroom and workstation resources.

$35Kprogram 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
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 FY2024 990, line by line.

1The main four
Money inPt VIII
$1.5M
Ln 12
Gifts and grantsLn 1h$1.3M
Investment incomeLn 3$140K
Other incomeLn 4–11$4K
Money outPt IX
$1.6M
Ln 25
Programscol B$1.5M
Managementcol C$92K
Owns and owesPt X
$3.1M
net assets · Ln 32
Cash and savingsLn 1–2$628K
Total assetsLn 16$3.2M
LiabilitiesLn 26$34K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.3M
Noncash giftsLn 1g$26K
Fundraising eventsLn 1c$121K
Investment incomeLn 3$140K
Other incomeLn 4–11$4K
Gains on assetsLn 7$56K
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
SavingsLn 2$628K
Cash and savings togetherLn 1–2$628K
InvestmentsLn 11–13$2.6M
Total assetsLn 16$3.2M
LiabilitiesLn 26$34K
Net assetsLn 32$3.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 650
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3More from this return
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$26K
Investment feesPt IX, Sch D
Investment fees, as reportedPt IX 11f$14K
Share of the $2.6M endowmentSch D 1g0.57%
Typical, median of 2,202 orgs0.44%
EndowmentSch D · Pt V
LineFY24FY23FY22FY21FY20
End of yearLn 1g$2.6M$2.3M$2.2M$2.5M$2.0M
Given inLn 1b$65K$26K
SpentLn 1d–1f$25K$30K$26K$24K$22K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$979K$628K
InvestmentsLn 11–13$2.3M$2.6M
Total assetsLn 16$3.3M$3.2M
LiabilitiesLn 26$181K$34K
Net assetsLn 32$3.1M$3.1M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.5M$1.5M
Accounting feesLn 11c$21K$21K
Investment management feesLn 11f$14K$14K
Other fees for servicesLn 11g$12K$12K
Advertising and promotionLn 12$19K$19K
Office expensesLn 13$1K$1K
Information technologyLn 14$13K$13K
Conferences, conventions and meetingsLn 19$315$315
Other expenses (24a–d)Ln 24$11K$11K
All other expensesLn 24e$35$35
Total functional expensesLn 25$1.6M$1.5M$92K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS May 14, 2026 $2.1M$1.7M$405K$3.6M 990 PDF
FY2024 ViewingFiled with the IRS Mar 24, 2025 $1.5M$1.6M−$114K$3.1M 990 PDF
FY2023Filed with the IRS Jul 15, 2024 $1.8M$1.6M$219K$3.1M 990 PDF
FY2022Filed with the IRS Jul 17, 2023 $2.3M$2.3M$3K$2.7M 990 PDF
FY2021Filed with the IRS Jul 8, 2022 $1.5M$1.3M$216K$3.2M 990 PDF
FY2020Filed with the IRS Jul 15, 2021 $1.6M$1.4M$217K$2.7M 990 PDF

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 FY2024 990 (6 parts)
Part I · Summary $1,452,100 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $652,584$1,307,920
I-9 Program service revenuePrior year $1,220,566$0
I-10 Investment incomePrior year $31,608$140,146
I-11 Other revenuePrior year −$77,101$4,034
I-12 Total revenuePrior year $1,827,657$1,452,100
I-13 Grants and similar amounts paidPrior year $1,532,696$1,474,608
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 $76,348$91,831
I-18 Total expensesPrior year $1,609,044$1,566,439
I-19 Revenue less expensesPrior year $218,613−$114,339
Part VI · Governance 10 of 10 board members independent, 4 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
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 $1,452,100 across 8 lines filed
VIII-1c Fundraising events$120,807
VIII-1f All other contributions, gifts and grants$1,187,113
VIII-1g Noncash contributions (included above)$25,910
VIII-1h Total contributions, gifts and grants$1,307,920
VIII-3 Investment incomeExcluded from tax $84,391$84,391
VIII-7 Net gain or loss on sales of assetsExcluded from tax $55,755$55,755
VIII-8 Net income from fundraising eventsExcluded from tax $4,034$4,034
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $144,180$1,452,100
Part IX · Statement of functional expenses $1,566,439 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $1,474,608$1,474,608
IX-11c Accounting feesManagement $20,755$20,755
IX-11f Investment management feesManagement $14,495$14,495
IX-11g Other fees for servicesManagement $11,970$11,970
IX-12 Advertising and promotionManagement $19,127$19,127
IX-13 Office expensesManagement $1,233$1,233
IX-14 Information technologyManagement $12,574$12,574
IX-19 Conferences, conventions and meetingsManagement $315$315
IX-24 Other expenses (24a–d)Management $11,327$11,327
IX-24e All other expensesManagement $35$35
IX-25 Total functional expensesPrograms $1,474,608 · Management $91,831 · Fundraising $0$1,566,439
Part X · Balance sheet $3,178,246 assets, 11 lines filed
X-2 Savings and temporary cash investmentsStart of year $978,715$627,993
X-9 Prepaid expenses and deferred chargesStart of year $7,967$0
X-12 Other securitiesStart of year $2,297,526$2,550,253
X-16 Total assetsStart of year $3,284,208$3,178,246
X-17 Accounts payable and accrued expensesStart of year $3,341$32,518
X-18 Grants payableStart of year $177,803$1,380
X-26 Total liabilitiesStart of year $181,144$33,898
X-27 Net assets without donor restrictionsStart of year $2,785,255$2,823,105
X-28 Net assets with donor restrictionsStart of year $317,809$321,243
X-32 Total net assets or fund balancesStart of year $3,103,064$3,144,348
X-33 Total liabilities and net assetsStart of year $3,284,208$3,178,246
Part XI · Reconciliation of net assets $3,144,348 net assets at year end
XI-1 Total revenue$1,452,100
XI-2 Total expenses$1,566,439
XI-3 Revenue less expenses−$114,339
XI-4 Net assets at start of year$3,103,064
XI-5 Net unrealized gains (losses) on investments$155,623
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,144,348

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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