Westlake Academy Foundation
- Assets
- $3.2m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Westlake, TX
- Founding
- 10/2004
- Data as of
- 08/2021
- EIN
- 20-0033926
Organization Overview
Westlake Academy Foundation is located in Westlake, TX. The organization was established in 2004. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westlake Academy Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2021, Westlake Academy Foundation generated $1.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $1.3m during the year ending 08/2021. While expenses have increased by 0.7% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FINANCIAL SUPPORT FOR WESTLAKE ACADEMY IN ITS EFFORTS TO ACHIEVE ACADEMIC EXCELLENCE IN DEVELOPING RESPONSIBLE, GLOBAL, LIFELONG LEARNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE "ABOVE AND BEYOND" SUPPORT FOR ACTIVITIES AND INITIATIVES OF THE ACADEMY OUTSIDE OF THE ANNUAL BUDGET. GRANTS HAVE FUNDED NEW CURRICULUM PROGRAMS, CLASSROOM PROJECTS, NEW EQUIPMENT, RETENTION/RECRUITING INCENTIVES, SMARTBOARDS AND PROFESSIONAL DEVELOPMENT/TRAINING.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wendy Greenwood Secretary | OfficerTrustee | 2 | $0 |
Leah Rennhack Vice President | OfficerTrustee | 2 | $0 |
Christine Ross President | OfficerTrustee | 5 | $0 |
Sean Shope Treasurer | OfficerTrustee | 2 | $0 |
Dr Shelly Myers Executive Director | Officer | 40 | $0 |
Ginger Awtry Director Of Finance | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $441,651 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $989,392 |
| Noncash contributions included in lines 1a–1f | $72,802 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,431,043 |
| Total Program Service Revenue | $0 |
| Investment income | $49,924 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $77,082 |
| Net Income from Fundraising Events | -$67,243 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,490,806 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,202,419 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,078 |
| Advertising and promotion | $15,901 |
| Office expenses | $33,125 |
| Information technology | $3,105 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,152 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,274,358 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $799,173 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,444,910 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,244,083 |
| Accounts payable and accrued expenses | $7,600 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,600 |
| Net assets without donor restrictions | $2,877,603 |
| Net assets with donor restrictions | $358,880 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,244,083 |
Grants Recieved
Over the last fiscal year, we have identified 24 grants that Westlake Academy Foundation has recieved totaling $803,626.
| Awarding Organization | Amount |
|---|---|
Communities Foundation Of Texas Dallas, TX PURPOSE: THIS GRANT IS DESIGNATED FOR GENERAL SUPPORT. | $698,109 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $20,731 |
M R And Evelyn Hudson Foundation Keller, TX PURPOSE: FUNDS WILL SUPPORT COSTS ASSOCIATED WITH A TRIP TO KIDZANIA, MYSTERY FIELD TRIPS AND CREATING A POSITIVE SCHOOL CULTURE. | $20,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $15,050 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $13,952 |
Fidelity Foundation Boston, MA PURPOSE: MATCHING GIFTS TO EDUCATION | $4,500 |
Endowment Analysis
| Beg. Balance | $2,021,775 |
| Earnings | $437,962 |
| Admin Expense | $17,887 |
| Net Contributions | $64,634 |
| Grants | $6,490 |
| Ending Balance | $2,499,994 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Penner Family Foundation Bentonville, AR | $146,107,822 | $15,983,833 |
Scharbauer Foundation Inc Midland, TX | $271,051,602 | $69,061,413 |
Wildcat Foundation Fort Worth, TX | $836,895 | $18,132,970 |
A Earl & Frances E Ziegler Foundation Norman, OK | $1,886,858 | $25,634,422 |
Eugene Mcdermott Foundation Dallas, TX | $220,528,387 | $97,884,779 |
Henderson-Wessendorff Foundation Richmond, TX | $228,160,288 | $17,605,762 |
Walter E Heller Foundation Dallas, TX | $0 | $637,126 |
Carl & Marilynn Thoma Foundation Dallas, TX | $0 | $929,287 |
Beloved In Christ Foundation Austin, TX | $172,986,617 | $3,113,726 |
The Kathryn H Craig Stephen Dudley Heard And Lillie D Heard Memorial Dallas, TX | $1,384 | -$449,918 |
Carroll Petrie Foundation Santa Fe, NM | $306,631,944 | $55,176,464 |
Hamill Foundation Houston, TX | $203,029,849 | $39,782,936 |