WATERSIDE SCHOOL INC (EIN 061609222) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2001

Legal Domicile

Principal Officer

CHARLES LEIGH

Phone

2039758579

Tax Period

2024-07-01 to 2025-06-30

WATERSIDE SCHOOL INC, founded in 2001, is a mid-sized nonprofit in the Education sector that reported $10.6M in total revenue in fiscal year 2024. Net assets of $77.5M represent 88 months of operating reserves.

Mission

TO PROVIDE AN EARLY YEAR EDUCATIONAL FOUNDATION FOR MOTIVATED, DISADVANTAGED CHILDREN.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $4,954,164

Program Service Revenue $4,164,946

Investment Income $1,329,346

Other Revenue $144,380

TOTAL REVENUE $10,592,836

Expense Breakdown

Grants Paid $4,060,126

Salaries & Benefits $4,448,987

Fundraising Expenses $457,505

Program Expenses $8,381,378

Other Expenses $2,233,201

TOTAL EXPENSES $10,742,314

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,592,836	$10,951,279	0.0%
Expenses	$10,742,314	$10,559,704	+0.0%
Net Income	$-149,478	$391,575	-1.4%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$675,360

Total Directors

$402,044

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH POWERS	EXECUTIVE DIRECTOR (THRU 6/30/25)	40.00	Officer Director	$368,544	$33,500	$402,044
LISA STUART	CHAIR	4.00	Officer Director	$0	$0	$0
KONRAD KRUGER	FOUNDER	4.00	Officer Director	$0	$0	$0
MICHAEL SCHWABE	DIRECTOR & CHAIR FINANCE COMMITTEE	4.00	Officer Director	$0	$0	$0
A JOE DELGADO	DIRECTOR	4.00	Director	$0	$0	$0
BART D OSMAN	DIRECTOR	4.00	Director	$0	$0	$0
DANIEL TAYLOR	DIRECTOR	4.00	Director	$0	$0	$0
DEBBY WEINBERG	DIRECTOR	4.00	Director	$0	$0	$0
JAMES D CAREY	DIRECTOR	4.00	Director	$0	$0	$0
JOHN HOCK	DIRECTOR	4.00	Director	$0	$0	$0
JOSEPH BOATENG	DIRECTOR	4.00	Director	$0	$0	$0
KEVIN GASVODA	DIRECTOR	4.00	Director	$0	$0	$0
KIRSTEN DZIALGA	DIRECTOR	4.00	Director	$0	$0	$0
MATTHEW LUCEY	DIRECTOR	4.00	Director	$0	$0	$0
MERRICK R RICK KLEEMAN	DIRECTOR	4.00	Director	$0	$0	$0
NANCY BETTER	DIRECTOR	4.00	Director	$0	$0	$0
PHILIP A HADLEY	DIRECTOR	4.00	Director	$0	$0	$0
RICHARD AXILROD	DIRECTOR	4.00	Director	$0	$0	$0
ROBERT GLANVILLE	DIRECTOR	4.00	Director	$0	$0	$0
ROBERT MORRIS	DIRECTOR	4.00	Director	$0	$0	$0
ROSE SHABET	DIRECTOR	4.00	Director	$0	$0	$0
TED FERRARONE	DIRECTOR	4.00	Director	$0	$0	$0
TIM ARMSTRONG	DIRECTOR	4.00	Director	$0	$0	$0
TOBY COBB	DIRECTOR	4.00	Director	$0	$0	$0
WILLIAM HENNESSEY	DIRECTOR	4.00	Director	$0	$0	$0
JAMEL KEELS	DIRECTOR OF DEVELOPMENT	40.00	Officer	$187,522	$12,095	$199,617
CHARLES LEIGH	CONTROLLER	24.00	Officer	$73,699	$0	$73,699
DUNCAN EDWARDS	FORMER OFFICER, CONSULTANT	20.00	Highest	$233,000	$0	$233,000
JESSICA C CHANG	ASST HEAD OF SCHOOL	40.00	Highest	$103,909	$9,960	$113,869
CORRIE DONALDSON	DIRECTOR OF ADMISSIONS & TEACHER	40.00	Highest	$102,315	$10,113	$112,428
LAVANDRA DUPREE	PARENT SERVICES LEAD	40.00	Highest	$101,542	$2,382	$103,924
JONATHAN DUENNEBIER	DIR OF ALUMNI SUCCESS	40.00	Highest	$106,279	$2,366	$108,645

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$10,592,836	$10,742,314	$78,119,884	$-149,478
2024	$10,951,279	$10,559,704	$73,779,150	$391,575
2023	$11,327,132	$10,025,137	$68,105,804	$1,301,995
2022	$11,789,452	$8,958,793	$65,783,983	$2,830,659
2021	$17,827,311	$8,983,166	$71,257,022	$8,844,145
2020	$6,951,359	$4,725,296	$55,372,459	$2,226,063
2019	$7,132,923	$4,815,654	$51,860,873	$2,317,269
2018	$12,856,222	$4,660,766	$48,640,908	$8,195,456

WATERSIDE SCHOOL INC