Watershed High School FY2023 filing

Tax-deductible

Minneapolis, MN501(c)(3)Since 2002EducationEIN 47-0858757

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The mission of Watershed High School is to empower students to grow socially and academically in a safe, flexible, supportive arts-infused environment.

501(c)(3) charity; gifts are tax-deductible.
73¢ of each $1 spent went to programs.
$86K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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 $86K a year · 9% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$86K
to officers and key staff · 9% of spending
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Looks good: 3.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $177
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$665K
139% of total assets
Concern: liabilities are 139% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 5 voting members
Looks good: 3 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.0M
+4% vs prior year
Spent
$978K
To programs
73%
Net assets
−$186K
By yearFY2020–FY2024
Revenue
$1.0M
FY2023▲ +4%
Revenue by fiscal year
FY2020$836K
FY2021$858K
FY2022$967K
FY2023$1.0M
FY2024$1.3M
FY2024$944K
Expenses
$978K
FY2023▲ +20%
Expenses by fiscal year
FY2020$906K
FY2021$832K
FY2022$812K
FY2023$978K
FY2024$970K
FY2024$1.0M
Net assets
−$186K
FY2023▲ +15%
Net assets by fiscal year
FY2020−$398K
FY2021−$372K
FY2022−$217K
FY2023−$186K
FY2024$105K
FY2024$22K

From the FY2023 Form 990 (year ending June 2023) · see the original

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Is it real?

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

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

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $719K Management & general 27% · $260K

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

5 people listed on the 990; $86K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Member and Teacher
$43,000Pt VII · Sec A
Treasurer and Teacher
$42,950Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Elizabeth Kneip’s $63K as Executive Director is at the 55th percentile of top reported officer pay among 1613 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Destiny Sparks———$83,924$78,764$79,800
Elizabeth Kneip$62,943$47,481————
Jason Kinsley———$44,113$47,670$48,410
Hayley Grey$47,164$45,969$43,000———
Alan Stellpflug————$43,630$44,290
Nicholas Lange——$42,950$44,274——
Ryan Cooper$39,241$42,510————
Hayley Vetsch————$34,689$35,217

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Watershed High School 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 15aYes

Programs and updates

Helps students grow socially and academically in a safe, supportive environment.

Provided by the organization

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1 program · $719K · in their own filed words · FY2022
01

Watershed High School's vision is to help each student believe they can succeed in whatever they dream for themselves, starting with graduating from high school. Students will develop self-confidence, respect for themselves and others, the ability to advocate for themselves, and the ability to stick it out when the going gets tough.

$719Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$177

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$1.0M
Ln 12
Gifts and grantsLn 1h$855K
Other incomeLn 4–11$154K
Fees for servicesLn 2g$500
Money outPt IX
$978K
Ln 25
Programscol B$719K
Managementcol C$260K
Owns and owesPt X
−$186K
net assets · Ln 32
Cash and savingsLn 1–2$242K
Total assetsLn 16$480K
LiabilitiesLn 26$665K
PeoplePt VI, VII
5
listed · VII A
PaidVII A2
Voting boardVI 1a5
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$855K
Government grantsLn 1e$837K
Fees for servicesLn 2g$500
Investment incomeLn 3$8
Other incomeLn 4–11$154K
Total revenueLn 12$1.0M
Assets in detailPt X, end of year
CashLn 1$209K
SavingsLn 2$33K
Cash and savings togetherLn 1–2$242K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$145K
Total assetsLn 16$480K
LiabilitiesLn 26$665K
Net assetsLn 32−$186K
OperationsPt I, VI
EmployeesI 516
VolunteersI 63
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$389K$242K
Land, buildings, equipmentLn 10c$84K$0
Total assetsLn 16$721K$480K
LiabilitiesLn 26$938K$665K
Net assetsLn 32−$217K−$186K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$174K$145K$29K
Other salaries and wagesLn 7$220K$184K$37K
Pension plan contributionsLn 8$35K$27K$8K
Other employee benefitsLn 9$28K$14K$15K
Payroll taxesLn 10$31K$24K$7K
Other fees for servicesLn 11g$252K$112K$140K
Office expensesLn 13$31K$22K$8K
Information technologyLn 14$2K$2K
OccupancyLn 16$31K$31K
TravelLn 17$20K$20K
InterestLn 20$39$39
Depreciation, depletion and amortizationLn 22$240$240
InsuranceLn 23$12K$12K
Other expenses (24a–d)Ln 24$132K$118K$14K
All other expensesLn 24e$9K$7K$2K
Total functional expensesLn 25$978K$719K$260K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $1.3M$970K$290K$105K 990 PDF
FY2023 Viewing $1.0M$978K$32K−$186K 990 PDF
FY2022 $967K$812K$155K−$217K 990 PDF
FY2021 $858K$832K$26K−$372K 990 PDF
FY2020 $836K$906K−$70K−$398K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (5 parts)
Part I · Summary $1,009,896 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $902,805$855,482
I-9 Program service revenuePrior year $10$500
I-10 Investment incomePrior year $2$8
I-11 Other revenuePrior year $63,890$153,906
I-12 Total revenuePrior year $966,707$1,009,896
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $464,611$488,967
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $347,445$489,411
I-18 Total expensesPrior year $812,056$978,378
I-19 Revenue less expensesPrior year $154,651$31,518
Part VIII · Statement of revenue $1,009,896 across 7 lines filed
VIII-1e Government grants$836,810
VIII-1f All other contributions, gifts and grants$18,672
VIII-1h Total contributions, gifts and grants$855,482
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $500$500
VIII-3 Investment incomeExcluded from tax $8$8
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $153,906$153,906
VIII-12 Total revenueRelated to mission $500 · Unrelated business $0 · Excluded from tax $153,914$1,009,896
Part IX · Statement of functional expenses $978,378 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $145,209 · Management $28,962$174,171
IX-7 Other salaries and wagesPrograms $183,686 · Management $36,637$220,323
IX-8 Pension plan contributionsPrograms $27,125 · Management $7,904$35,029
IX-9 Other employee benefitsPrograms $13,788 · Management $14,521$28,309
IX-10 Payroll taxesPrograms $24,144 · Management $6,991$31,135
IX-11g Other fees for servicesPrograms $111,991 · Management $139,948$251,939
IX-13 Office expensesPrograms $22,404 · Management $8,105$30,509
IX-14 Information technologyPrograms $1,746$1,746
IX-16 OccupancyPrograms $30,819$30,819
IX-17 TravelPrograms $20,278$20,278
IX-20 InterestManagement $39$39
IX-22 Depreciation, depletion and amortizationPrograms $240$240
IX-23 InsurancePrograms $12,178$12,178
IX-24 Other expenses (24a–d)Programs $117,870 · Management $14,442$132,312
IX-24e All other expensesPrograms $7,265 · Management $2,086$9,351
IX-25 Total functional expensesPrograms $718,743 · Management $259,635 · Fundraising $0$978,378
Part X · Balance sheet $479,524 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $356,466$209,002
X-2 Savings and temporary cash investmentsStart of year $32,518$32,526
X-3 Pledges and grants receivableStart of year $47,849$64,635
X-9 Prepaid expenses and deferred chargesStart of year $13,649$27,900
X-10c Land, buildings and equipment, netStart of year $84,136$0
X-15 Other assetsStart of year $186,381$145,461
X-16 Total assetsStart of year $720,999$479,524
X-17 Accounts payable and accrued expensesStart of year $50,168$57,115
X-25 Other liabilitiesStart of year $888,017$608,077
X-26 Total liabilitiesStart of year $938,185$665,192
X-32 Total net assets or fund balancesStart of year −$217,186−$185,668
X-33 Total liabilities and net assetsStart of year $720,999$479,524
Part XI · Reconciliation of net assets −$185,668 net assets at year end
XI-1 Total revenue$1,009,896
XI-2 Total expenses$978,378
XI-3 Revenue less expenses$31,518
XI-4 Net assets at start of year−$217,186
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$185,668

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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