Watermark Classical Academy FY2021 filing

Tax-deductible

Sewickley, PA501(c)(3)EducationEIN 84-4704783Revenue $418K in FY2021

On file with the IRSwatermarkclassical.com801 Beaver St, 15143-1745 · Sewickley, PATax-exempt since Mar 2021School — 170(b)(1)(A)(ii)

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Grades k-8 homeschooling classes

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
$99K 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

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 4
filings with a surplus
Average surplus $687K a year · 50% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$99K
to officers and key staff · 29% of spending
Worth a look: pay to officers and key staff is 29% of spending; over 20%.
Pt VII · Sec A
Cash reserves
7 mo
of spending, in cash
Looks good: 6.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $1.2M
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$51K
26% of total assets
Looks good: liabilities are 26% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 8 voting members
Looks good: 6 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$418K
+141% vs prior year
Spent
$346K
To programs
81%
Net assets
$141K
By yearFY2020–FY2024
Revenue
$418K
FY2021▲ +141%
Tap a bar for its year
Revenue by fiscal year
FY2020$173K
FY2021$418K
FY2022$1.3M
FY2023$971K
FY2024$2.9M
Expenses
$346K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021$346K
FY2022$516K
FY2023$841K
FY2024$1.1M
Net assets
$141K
FY2021▲ +103%
Tap a bar for its year
Net assets by fiscal year
FY2020$69K
FY2021$141K
FY2022$920K
FY2023$1.1M
FY2024$2.9M

From the FY2021 Form 990 · 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 Mar 2021.

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

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $280K Management & general 19% · $67K

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

9 people listed on the 990; $99K paid to officers and key staff.

Part VII, Section A · reportable compensation
Head of Scho
$52,083Pt VII · Sec A
Head of Scho
$47,167Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Anna Conley’s $84K as Head of Scho is at the 21st percentile of top reported officer pay among 3395 $1–10M 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 · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Anna Conley$84,063$62,100$62,100$52,083$41,000
Caleb Vits——$49,680$47,167$46,000

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 Watermark Classical Academy 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides K-8 homeschooling classes for students.

Provided by the organization

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1 program · $280K · in their own filed words · FY2021
01

The organization employs seven classroom teachers and four part-time teachers who partner with parents to provide classical instruction from a christian worldview in core content areas. Services were provided to 92 students.

$280Kprogram 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 · FY2024
See all 5 funders →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$418K
Ln 12
Fees for servicesLn 2g$283K
Gifts and grantsLn 1h$132K
Other incomeLn 4–11$3K
Money outPt IX
$346K
Ln 25
Programscol B$280K
Managementcol C$67K
Owns and owesPt X
$141K
net assets · Ln 32
Cash and savingsLn 1–2$190K
Total assetsLn 16$192K
LiabilitiesLn 26$51K
PeoplePt VI, VII
9
listed · VII A
PaidVII A2
Voting boardVI 1a8
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$132K
Fees for servicesLn 2g$283K
Investment incomeLn 3$29
Other incomeLn 4–11$3K
Total revenueLn 12$418K
Assets in detailPt X, end of year
CashLn 1$45K
SavingsLn 2$145K
Cash and savings togetherLn 1–2$190K
Total assetsLn 16$192K
LiabilitiesLn 26$51K
Net assetsLn 32$141K
OperationsPt I, VI
EmployeesI 519
VolunteersI 635
Fiscal year endsHeaderDecember
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 FY21End FY21
Cash and savingsLn 1–2$98K$190K
Total assetsLn 16$101K$192K
LiabilitiesLn 26$31K$51K
Net assetsLn 32$69K$141K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$99K$79K$20K
Other salaries and wagesLn 7$129K$103K$26K
Payroll taxesLn 10$20K$16K$4K
Accounting feesLn 11c$5K$5K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$7K$6K$1K
OccupancyLn 16$39K$32K$8K
Depreciation, depletion and amortizationLn 22$5K$5K
InsuranceLn 23$5K$4K$1K
Other expenses (24a–d)Ln 24$34K$32K$2K
Total functional expensesLn 25$346K$280K$67K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.9M$1.1M$1.8M$2.9M 990 PDF
FY2023 $971K$841K$130K$1.1M 990 PDF
FY2022 $1.3M$516K$755K$920K 990 PDF
FY2021 Viewing $418K$346K$72K$141K 990 PDF
FY2020 $173K$69K 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 FY2021 990 (6 parts)
Part I · Summary $418,175 revenue, 12 lines filed
I-8 Contributions and grants$132,175
I-9 Program service revenue$282,876
I-10 Investment income$29
I-11 Other revenue$3,095
I-12 Total revenue$418,175
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$248,399
I-16a Professional fundraising fees$0
I-17 Other expenses$98,008
I-18 Total expenses$346,407
I-19 Revenue less expenses$71,768
Part VI · Governance 6 of 8 board members independent, 2 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $418,175 across 6 lines filed
VIII-1f All other contributions, gifts and grants$132,175
VIII-1h Total contributions, gifts and grants$132,175
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $282,876$282,876
VIII-3 Investment incomeExcluded from tax $29$29
VIII-8 Net income from fundraising eventsExcluded from tax $149$3,095
VIII-12 Total revenueRelated to mission $282,876 · Excluded from tax $178$418,175
Part IX · Statement of functional expenses $346,407 across 10 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $79,400 · Management $19,850$99,250
IX-7 Other salaries and wagesPrograms $103,060 · Management $25,765$128,825
IX-10 Payroll taxesPrograms $16,259 · Management $4,065$20,324
IX-11c Accounting feesManagement $4,828$4,828
IX-12 Advertising and promotionPrograms $2,438$2,438
IX-13 Office expensesPrograms $5,559 · Management $1,390$6,949
IX-16 OccupancyPrograms $31,540 · Management $7,885$39,425
IX-22 Depreciation, depletion and amortizationPrograms $5,489$5,489
IX-23 InsurancePrograms $4,185 · Management $1,046$5,231
IX-24 Other expenses (24a–d)Programs $31,947 · Management $1,701$33,648
IX-25 Total functional expensesPrograms $279,877 · Management $66,530 · Fundraising $0$346,407
Part X · Balance sheet $191,871 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $97,641$44,712
X-2 Savings and temporary cash investments$145,011
X-9 Prepaid expenses and deferred chargesStart of year $2,968$2,148
X-16 Total assetsStart of year $100,609$191,871
X-17 Accounts payable and accrued expensesStart of year $123$984
X-19 Deferred revenueStart of year $31,110$49,743
X-26 Total liabilitiesStart of year $31,233$50,727
X-27 Net assets without donor restrictionsStart of year $69,376$141,144
X-32 Total net assets or fund balancesStart of year $69,376$141,144
X-33 Total liabilities and net assetsStart of year $100,609$191,871
Part XI · Reconciliation of net assets $141,144 net assets at year end
XI-1 Total revenue$418,175
XI-2 Total expenses$346,407
XI-3 Revenue less expenses$71,768
XI-4 Net assets at start of year$69,376
XI-10 Net assets at end of year$141,144

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

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