Watershed High School FY2024 filing

Tax-deductible

Minneapolis, MN501(c)(3)Since 2002EducationEIN 47-0858757Revenue $1.3M in FY2024

On file with the IRSwatershedhs.org5353 Gamble Dr Ste 320, 55416-1545 · Minneapolis, MNTax-exempt since May 2004School — 170(b)(1)(A)(ii)

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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.
76¢ of each $1 spent went to programs.
$136K 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

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
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
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$136K
to officers and key staff · 14% of spending
Looks good: pay to officers and key staff is 14% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 6.0 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
$886K
89% of total assets
Concern: liabilities are 89% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 6 voting members
Fine: 3 of 6 voting members are independent, half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.3M
+25% vs prior year
Spent
$970K
To programs
76%
Net assets
$105K
By yearFY2020–FY2024
Revenue
$1.3M
FY2024▲ +25%
Tap a bar for its year
Revenue by fiscal year
FY2020$836K
FY2021$858K
FY2022$967K
FY2023$1.0M
FY2024$1.3M
FY2024$944K
Expenses
$970K
FY2024▼ -0.9%
Tap a bar for its year
Expenses by fiscal year
FY2020$906K
FY2021$832K
FY2022$812K
FY2023$978K
FY2024$970K
FY2024$1.0M
Net assets
$105K
FY2024▲ +156%
Tap a bar for its year
Net assets by fiscal year
FY2020−$398K
FY2021−$372K
FY2022−$217K
FY2023−$186K
FY2024$105K
FY2024$22K

From the FY2024 Form 990 (year ending June 2024) · 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

76 cents of each dollar spent went to programs.

Program services 76% · $733K Management & general 24% · $237K

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

6 people listed on the 990; $136K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Executive Director
$47,481Pt VII · Sec A
Member and Teacher
$45,969Pt VII · Sec A
Member and Teacher
$42,510Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
Secretary
$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 · $733K · in their own filed words · FY2023
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.

$733Kprogram 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 FY2024 990, line by line.

1The main four
Money inPt VIII
$1.3M
Ln 12
Gifts and grantsLn 1h$1.2M
Other incomeLn 4–11$80K
Investment incomeLn 3$11K
Money outPt IX
$970K
Ln 25
Programscol B$733K
Managementcol C$237K
Owns and owesPt X
$105K
net assets · Ln 32
Cash and savingsLn 1–2$487K
Total assetsLn 16$990K
LiabilitiesLn 26$886K
PeoplePt VI, VII
6
listed · VII A
PaidVII A3
Voting boardVI 1a6
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.2M
Government grantsLn 1e$1.2M
Investment incomeLn 3$11K
Other incomeLn 4–11$80K
Total revenueLn 12$1.3M
Assets in detailPt X, end of year
CashLn 1$144K
SavingsLn 2$343K
Cash and savings togetherLn 1–2$487K
Land, buildings, equipmentLn 10c$312K
Other assetsLn 15$110K
Total assetsLn 16$990K
LiabilitiesLn 26$886K
Net assetsLn 32$105K
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 FY24End FY24
Cash and savingsLn 1–2$242K$487K
Land, buildings, equipmentLn 10c$0$312K
Total assetsLn 16$480K$990K
LiabilitiesLn 26$665K$886K
Net assetsLn 32−$186K$105K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$162K$140K$22K
Other salaries and wagesLn 7$298K$267K$30K
Pension plan contributionsLn 8$58K$42K$16K
Other employee benefitsLn 9$11K$6K$5K
Payroll taxesLn 10$33K$29K$3K
Legal feesLn 11b$11K$11K
Accounting feesLn 11c$92K$92K
Other fees for servicesLn 11g$76K$32K$44K
Office expensesLn 13$13K$11K$2K
Information technologyLn 14$3K$3K$52
OccupancyLn 16$32K$32K
TravelLn 17$21K$21K$668
InterestLn 20$45$45
InsuranceLn 23$12K$12K
Other expenses (24a–d)Ln 24$141K$132K$9K
All other expensesLn 24e$7K$4K$3K
Total functional expensesLn 25$970K$733K$237K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $1.3M$970K$290K$105K 990 PDF
FY2023 $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 FY2024 990 (6 parts)
Part I · Summary $1,260,022 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $855,482$1,169,218
I-9 Program service revenuePrior year $500$0
I-10 Investment incomePrior year $8$10,841
I-11 Other revenuePrior year $153,906$79,963
I-12 Total revenuePrior year $1,009,896$1,260,022
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 $488,967$561,157
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $489,411$408,513
I-18 Total expensesPrior year $978,378$969,670
I-19 Revenue less expensesPrior year $31,518$290,352
Part VI · Governance 3 of 6 board members independent, no flags
VI-1a Voting members of the governing body6
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,260,022 across 6 lines filed
VIII-1e Government grants$1,154,716
VIII-1f All other contributions, gifts and grants$14,502
VIII-1h Total contributions, gifts and grants$1,169,218
VIII-3 Investment incomeExcluded from tax $10,841$10,841
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $79,963$79,963
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $90,804$1,260,022
Part IX · Statement of functional expenses $969,670 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $140,264 · Management $21,859$162,123
IX-7 Other salaries and wagesPrograms $267,472 · Management $30,222$297,694
IX-8 Pension plan contributionsPrograms $41,990 · Management $15,877$57,867
IX-9 Other employee benefitsPrograms $6,316 · Management $4,559$10,875
IX-10 Payroll taxesPrograms $29,285 · Management $3,313$32,598
IX-11b Legal feesManagement $10,699$10,699
IX-11c Accounting feesManagement $91,715$91,715
IX-11g Other fees for servicesPrograms $31,839 · Management $44,141$75,980
IX-13 Office expensesPrograms $11,353 · Management $1,818$13,171
IX-14 Information technologyPrograms $3,258 · Management $52$3,310
IX-16 OccupancyPrograms $32,123$32,123
IX-17 TravelPrograms $20,570 · Management $668$21,238
IX-20 InterestManagement $45$45
IX-23 InsurancePrograms $12,448$12,448
IX-24 Other expenses (24a–d)Programs $132,357 · Management $8,900$141,257
IX-24e All other expensesPrograms $3,636 · Management $2,891$6,527
IX-25 Total functional expensesPrograms $732,911 · Management $236,759 · Fundraising $0$969,670
Part X · Balance sheet $990,373 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $209,002$143,821
X-2 Savings and temporary cash investmentsStart of year $32,526$343,367
X-3 Pledges and grants receivableStart of year $64,635$62,009
X-4 Accounts receivable$1,526
X-9 Prepaid expenses and deferred chargesStart of year $27,900$17,198
X-10c Land, buildings and equipment, netStart of year $0$312,166
X-15 Other assetsStart of year $145,461$110,286
X-16 Total assetsStart of year $479,524$990,373
X-17 Accounts payable and accrued expensesStart of year $57,115$42,242
X-25 Other liabilitiesStart of year $608,077$843,447
X-26 Total liabilitiesStart of year $665,192$885,689
X-32 Total net assets or fund balancesStart of year −$185,668$104,684
X-33 Total liabilities and net assetsStart of year $479,524$990,373
Part XI · Reconciliation of net assets $104,684 net assets at year end
XI-1 Total revenue$1,260,022
XI-2 Total expenses$969,670
XI-3 Revenue less expenses$290,352
XI-4 Net assets at start of year−$185,668
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$104,684

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

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