CONNECTING WATERS CHARTER SCHOOLS

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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

2014

Legal Domicile

Principal Officer

JERRI LYNN LEVERS

Phone

8008089895

Tax Period

2024-07-01 to 2025-06-30

CONNECTING WATERS CHARTER SCHOOLS, founded in 2014, is a mid-sized nonprofit in the Education sector that reported $29.6M in total revenue in fiscal year 2024.

Mission

TO HELP STUDENTS BECOME EDUCATED INDIVIDUALS WHO ARE INTRINSICALLY MOTIVATED TO LEARN, AND WHO HAVE DIVERSE YET WELL-DEVELOPED INTERESTS. THE ORGANIZATION IS OPEN TO ALL STUDENTS IN GRADES K-12 SEEKING A NON-TRADITIONAL EDUCATIONAL SETTING FROM THE FOLLOWING CALIFORNIA COUNTIES: STANISLAUS, MERCED, MARIPOSA, TUOLUMNE, CALAVERAS, SAN JOAQUIN, ALAMEDA AND SANTA CLARA.

Program Service Accomplishments

Program 1

Expenses: $26,501,457

TO HELP STUDENTS BECOME EDUCATED INDIVIDUALS WHO ARE INTRINSICALLY MOTIVATED TO LEARN, AND WHO HAVE DIVERSE YET WELL-DEVELOPED INTERESTS. THE ORGANIZATION IS OPEN TO ALL STUDENTS IN GRADES K-12...

TO HELP STUDENTS BECOME EDUCATED INDIVIDUALS WHO ARE INTRINSICALLY MOTIVATED TO LEARN, AND WHO HAVE DIVERSE YET WELL-DEVELOPED INTERESTS. THE ORGANIZATION IS OPEN TO ALL STUDENTS IN GRADES K-12 SEEKING A NON-TRADITIONAL EDUCATIONAL SETTING. THE ORGANIZATION OPERATES THREE CHARTER SCHOOLS: CONNECTING WATERS CHARTER SCHOOL, CONNECTING WATERS EAST BAY, AND CONNECTING WATERS CENTRAL VALLEY. FOR THE YEAR ENDED JUNE 30, 2025, CONNECTING WATER CHARTER SCHOOLS PROVIDED INSTRUCTION TO APPROXIMATELY 2,000 STUDENTS OVER A COURSE OF 175 DAYS.

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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 $29,421,210

Program Service Revenue $0

Investment Income $28,095

Other Revenue $124,355

TOTAL REVENUE $29,573,660

Expense Breakdown

Grants Paid $0

Salaries & Benefits $19,604,014

Fundraising Expenses $0

Program Expenses $26,501,457

Other Expenses $9,404,954

TOTAL EXPENSES $29,008,968

Year-over-Year Comparison

	2024	2023	Change
Revenue	$29,573,660	$27,905,563	+0.1%
Expenses	$29,008,968	$26,488,675	+0.1%
Net Income	$564,692	$1,416,888	-0.6%

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

241

Volunteers

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

$415,555

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DEBBIE NISHIHAMA	EDUCATIONAL SPECIALIST	40.00	Highest	$171,346	$50,183	$221,529
SHERRI NESLON	EXECUTIVE DIRECTOR (THROUGH 6/24)	40.00	Officer	$180,995	$32,692	$213,687
MELISSA CRIPE	SCHOOL GUIDANCE COUNSELOR	40.00	Highest	$159,419	$47,854	$207,273
JERRI LEVERS	EXECUTIVE DIRECTOR (START 7/24)	40.00	Officer	$164,980	$36,888	$201,868
LINDY JANSSEN	ACADEMIC COORDINATOR/TEACHER	40.00	Highest	$154,241	$45,551	$199,792
SHERRY WOO	EDUCATIONAL SPECIALIST	40.00	Highest	$151,510	$46,423	$197,933
TAMMY HUSHAW	DEPUTY EXECUTIVE DIRECTOR	40.00	Highest	$151,093	$45,774	$196,867
NINA VIEIRA	CHAIR	2.00	Officer Director	$0	$0	$0
ERIKA MELTON	CO-CHAIR	2.00	Officer Director	$0	$0	$0
BONNIE CERRUTI	SECRETARY	2.00	Officer Director	$0	$0	$0
RON MAYO	DIRECTOR	2.00	Director	$0	$0	$0
JENNIFER LOUIE-MONZON	DIRECTOR	2.00	Director	$0	$0	$0
DENISE DAVIS	DIRECTOR	2.00	Director	$0	$0	$0
KANEEZ FATIMA	DIRECTOR	2.00	Director	$0	$0	$0

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	$29,573,660	$29,008,968	$32,604,574	$564,692
2024	$27,905,563	$26,488,675	$34,804,286	$1,416,888
2023	$26,625,026	$23,349,027	$33,420,905	$3,275,999
2022	$24,804,393	$22,210,204	$31,954,762	$2,594,189
2021	$24,284,829	$20,937,642	$28,104,773	$3,347,187
2020	$23,330,733	$21,356,760	$23,774,380	$1,973,973
2019	$23,440,662	$22,047,000	$14,964,570	$1,393,662
2018	$21,706,212	$20,288,067	$13,337,595	$1,418,145