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Westminster School Foundation FY2020 filing

Tax-deductible

New York, NY501(c)(3)EducationEIN 99-0369928Revenue $233K in FY2020

On file with the IRS1350 Ave of the Americas Fl2 Ste266, 10019-4703 · New York, NYTax-exempt since Sep 2012Publicly supported charity — 170(b)(1)(A)(vi)

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The Westminster School Foundation was created for the support of the advancement of learning and education and any purposes that are exclusively religious, charitable, scientific or educational within the meaning of section 501(c)(3) of the internal revenue code.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
2 of 5
filings with a surplus
Average surplus $74K a year · 27% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
16 mo
of spending, in cash
Looks good: 15.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $99K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$318K
95% of total assets
Concern: liabilities are 95% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$233K
Spent
$247K
To programs
91%
Net assets
$17K
By yearFY2020–FY2024
Revenue
$233K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$233K
FY2021$160K
FY2022$193K
FY2023$136K
FY2024$625K
Expenses
$247K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$247K
FY2021$182K
FY2022$185K
FY2023$141K
FY2024$223K
Net assets
$17K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$17K
FY2021−$5K
FY2022$2K
FY2023−$4K
FY2024$380K

From the FY2020 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2020 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 Sep 2012.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $226K Management & general 9% · $22K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
James Sinclair
Treasurer/Di
$0Pt VII · Sec A
$0Pt VII · Sec A
Ian M Winchester
President/Di
$0Pt VII · Sec A
$0Pt VII · Sec A
See Westminster School 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

Supports learning and education through charitable, scientific, and religious purposes.

Questions for Westminster School Foundation

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Provided by the organization

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1 program · $226K · in their own filed words · FY2020
01

The westminster school is committed to providing the materials and opportunities necessary to facilitate learning at its highest level, and to ensuring that all those with the capacity to benefit from a westminster education are allowed the chance to do so, regardless of their financial background.

$226Kprogram 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
The Goldman Sachs Charitable Gift FundFY2024$74K
Laura M and Peter T Grauer FoundationFY2024$25K
Total grants receivedfrom 2 funders$99K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$233K
Ln 12
Gifts and grantsLn 1h$233K
Money outPt IX
$247K
Ln 25
Programscol B$226K
Managementcol C$22K
Owns and owesPt X
$17K
net assets · Ln 32
Cash and savingsLn 1–2$323K
Total assetsLn 16$334K
LiabilitiesLn 26$318K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$233K
Total revenueLn 12$233K
Assets in detailPt X, end of year
CashLn 1$323K
Cash and savings togetherLn 1–2$323K
Total assetsLn 16$334K
LiabilitiesLn 26$318K
Net assetsLn 32$17K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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 FY20End FY20
Cash and savingsLn 1–2$452K$323K
Total assetsLn 16$458K$334K
LiabilitiesLn 26$426K$318K
Net assetsLn 32$32K$17K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants and assistance to foreign recipientsLn 3$226K$226K
Management feesLn 11a$14K$14K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$5K$5K
Other expenses (24a–d)Ln 24$376$376
Total functional expensesLn 25$247K$226K$22K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $625K$223K$402K$380K 990 PDF
FY2023 $136K$141K−$5K−$4K 990 PDF
FY2022 $193K$185K$8K$2K 990 PDF
FY2021 $160K$182K−$22K−$5K 990 PDF
FY2020 Viewing $233K$247K−$14K$17K 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 FY2020 990 (6 parts)
Part I · Summary $233,323 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $122,444$233,323
I-9 Program service revenue$0
I-10 Investment incomePrior year $171$0
I-11 Other revenue$0
I-12 Total revenuePrior year $122,615$233,323
I-13 Grants and similar amounts paidPrior year $128,483$225,705
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $17,852$21,645
I-18 Total expensesPrior year $146,335$247,350
I-19 Revenue less expensesPrior year −$23,720−$14,027
Part VI · Governance 6 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $233,323 across 3 lines filed
VIII-1f All other contributions, gifts and grants$233,323
VIII-1h Total contributions, gifts and grants$233,323
VIII-12 Total revenue$233,323
Part IX · Statement of functional expenses $247,350 across 5 lines filed
IX-3 Grants and assistance to foreign recipientsPrograms $225,705$225,705
IX-11a Management feesManagement $13,897$13,897
IX-11b Legal feesManagement $2,558$2,558
IX-11c Accounting feesManagement $4,814$4,814
IX-24 Other expenses (24a–d)Management $376$376
IX-25 Total functional expensesPrograms $225,705 · Management $21,645 · Fundraising $0$247,350
Part X · Balance sheet $334,473 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $452,290$322,642
X-3 Pledges and grants receivableStart of year $3,189$6,831
X-9 Prepaid expenses and deferred charges$5,000
X-16 Total assetsStart of year $457,792$334,473
X-17 Accounts payable and accrued expensesStart of year $25,073$9,307
X-18 Grants payableStart of year $400,448$308,364
X-26 Total liabilitiesStart of year $425,521$317,671
X-27 Net assets without donor restrictionsStart of year −$6,560$217
X-28 Net assets with donor restrictionsStart of year $38,831$16,585
X-32 Total net assets or fund balancesStart of year $32,271$16,802
X-33 Total liabilities and net assetsStart of year $457,792$334,473
Part XI · Reconciliation of net assets $16,802 net assets at year end
XI-1 Total revenue$233,323
XI-2 Total expenses$247,350
XI-3 Revenue less expenses−$14,027
XI-4 Net assets at start of year$32,271
XI-9 Other changes in net assets−$1,442
XI-10 Net assets at end of year$16,802

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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