Civic Intelligence

Deep Waters Academy

990 • Fiscal year 2022 • EIN 85-3670476

Jul 01, 2021 to Jun 30, 2022 • Filed on Mar 13, 2023

Organization ProfileDEEPWATERSACADEMY.ORG
14010 El Camino RealHouston, TX 77062

(281) 639-7060

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

81st percentile

0.13x

Higher debt load relative to assets than 81% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

77th percentile

0.05x

Higher debt load relative to revenue than 77% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

73rd percentile

22%

Higher net margin than 73% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

82nd percentile

$9,360

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 8.8% of source-year revenue.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Balance Sheet
Liabilities / Assets81st percentile

Assets

$38,668

No earlier filing loaded for comparison.

Net Assets

$33,575

No earlier filing loaded for comparison.

Liabilities

$5,093

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin73rd percentile

Revenue

$106,466

No earlier filing loaded for comparison.

Expenses

$82,730

No earlier filing loaded for comparison.

Net Income

$23,736

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150K$100K$50K$0Assets 2022: $38,668Liabilities 2022: $5,093Net Assets 2022: $33,5752022Assets 2023: $103,885Liabilities 2023: $2,794Net Assets 2023: $101,0912023Assets 2024: $106,994Liabilities 2024: $966Net Assets 2024: $106,0282024Assets 2025: $90,269Liabilities 2025: $0Net Assets 2025: $90,2692025

Highlighted filing

2022

Assets$38,668
Liabilities$5,093
Net Assets$33,575
Open 2022 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100KRevenue 2022: $106,466Expenses 2022: $82,730Net Income 2022: $23,7362022Revenue 2023: $233,362Expenses 2023: $165,846Net Income 2023: $67,5162023Revenue 2024: $192,160Expenses 2024: $187,222Net Income 2024: $4,9382024Revenue 2025: $265,042Expenses 2025: $280,801Net Income 2025: -$15,7592025

Highlighted filing

2022

Revenue$106,466
Expenses$82,730
Net Income$23,736
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Mar 13, 2023
Return Version
2021v4.0
Gross Receipts
$109,886
Mission and Program Overview

Mission

We partner with families to guide students to learn to love what is good, true and beautiful.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$9,839$21,735▲ $11,896
Total Assets$9,839$38,668▲ $28,829
Other Assets Total-$16,933-
Liabilities
Other Liabilities-$5,093-
Total Liabilities$0$5,093▲ $5,093
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$9,839$33,575▲ $23,736
Total Net Assets Fund Balance$9,839$33,575▲ $23,736
Total Liabilities and Net Assets / Fund Balance$9,839$38,668▲ $28,829

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$16,933--
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kristin FontanaVice-presidePT$9,360$9,360
Amelia ChiaraPresidentPT$3,780$3,780

Board Members and Trustees

NameTitle
Kim NotoBoard Member
Sara FontanaHead of Mini
Vincent ChiaraSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$33,548
Program Service Revenue
$72,028
Investment Income
$0
Other Revenue
$890
All Other Contributions
$33,548
Change in Net Assets
$23,736
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$52,036
Other Expenses$30,694
Total Fundraising Expense$3,101
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$28,375--$28,375
Current Officers, Directors, Trustees, and Key Employees$5,830$4,618$2,692$13,140
Occupancy$10,910--$10,910
Payroll Taxes$9,347$765$409$10,521
Insurance$3,950--$3,950
Office Expenses$3,544--$3,544
Advertising$2,686--$2,686
Fees for Services Other$563--$563
Other Expenses$310--$310
All Other Expenses$127--$127
Total Functional Expenses$74,246$5,383$3,101$82,730
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$4,310
Fundraising Direct Expenses$3,420
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Tax Payable$5,093
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Amelia chiara vincent chiara president secretary spouse amelia chiara sara fontana president head of min daughter amelia chiara kristin fontana president vice pres sister-in-law”

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Deep Waters Academy
EIN
85-3670476
Phone
2816397060
Address
14010 EL CAMINO REAL, HOUSTON, TX 77062

Signing Officer

Name
Amelia Chiara
Title
President
Phone
2816397060
Signed
2023-03-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Amelia Chiara
Formed
2020
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
3
Employees
8
Volunteers
10

Preparer

Firm
Ann Thomas CPA Pc
Address
1120 NASA PARKWAY SUITE 108, HOUSTON, TX 77058-3320
Preparer
Paul Glenn Thomas Iii
Phone
2813333848
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

“Deep waters academy (dwa) is a university-model school incorporated in the state of texas as of the fall 2020 with a primary purpose of education. For the fiscal year beginning july 1, 2021 and ending june 30, 2022, dwa had 22 students and 8 employees. The school contains students from grades kindergarten-seven and provides instruction in the following subjects: math, reading & writing, english, history, science, music, and art. Dwa is a university-model school, meaning it meets twice per week on the main campus, located at 770 pineloch dr, houston, tx 77062, and three times per week at the satellite (home) campus. While on the main campus students are instructed by qualified teachers whom undergo a background check and formal interview process. At home, the academic instruction will continue under the supervision of the child's parent(s) or guardian(s), creating a partnership between school and family. Operating revenues and private donations fund 100% of the operating expenses such as: teacher/staff payroll, dues & subscriptions, facilities costs, and general and administrative expenses. Dwa's purpose is to educate adolescent minds, teaching them to learn and love what is good, true, and beautiful.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DEEP WATERS ACADEMY (DWA) IS A UNIVERSITY-MODEL SCHOOL INCORPORATED IN THE STATE OF TEXAS AS OF THE FALL 2020 WITH A PRIMARY PURPOSE OF EDUCATION. FOR THE FISCAL YEAR BEGINNING JULY 1, 2021 AND ENDING JUNE 30, 2022, DWA HAD 22 STUDENTS AND 8 EMPLOYEES. THE SCHOOL CONTAINS STUDENTS FROM GRADES KINDERGARTEN-SEVEN AND PROVIDES INSTRUCTION IN THE FOLLOWING SUBJECTS: MATH, READING & WRITING, ENGLISH, HISTORY, SCIENCE, MUSIC, AND ART. DWA IS A UNIVERSITY-MODEL SCHOOL, MEANING IT MEETS TWICE PER WEEK ON THE MAIN CAMPUS, LOCATED AT 770 PINELOCH DR, HOUSTON, TX 77062, AND THREE TIMES PER WEEK AT THE SATELLITE (HOME) CAMPUS. WHILE ON THE MAIN CAMPUS STUDENTS ARE INSTRUCTED BY QUALIFIED TEACHERS WHOM UNDERGO A BACKGROUND CHECK AND FORMAL INTERVIEW PROCESS. AT HOME, THE ACADEMIC INSTRUCTION WILL CONTINUE UNDER THE SUPERVISION OF THE CHILD'S PARENT(S) OR GUARDIAN(S), CREATING A PARTNERSHIP BETWEEN SCHOOL AND FAMILY. OPERATING REVENUES AND PRIVATE DONATIONS FUND 100% OF THE OPERATING EXPENSES SUCH AS: TEACHER/STAFF PAYROLL, DUES & SUBSCRIPTIONS, FACILITIES COSTS, AND GENERAL AND ADMINISTRATIVE EXPENSES. DWA'S PURPOSE IS TO EDUCATE ADOLESCENT MINDS, TEACHING THEM TO LEARN AND LOVE WHAT IS GOOD, TRUE, AND BEAUTIFUL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AMELIA CHIARA VINCENT CHIARA PRESIDENT SECRETARY SPOUSE AMELIA CHIARA SARA FONTANA PRESIDENT HEAD OF MIN DAUGHTER AMELIA CHIARA KRISTIN FONTANA PRESIDENT VICE PRES SISTER-IN-LAW
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0AMELIA CHIARA
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ReturnHeader/PreparerPersonGrp/PreparationDt02023-03-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PAUL GLENN THOMAS III
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ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$38,668
Liabilities
$5,093
Net assets
$33,575
Revenue
$106,466
Expenses
$82,730
Net income
$23,736
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.90$0.00$0.90$2.65$2.81$0.16
2024Detailed filing. Detailed filing data is available for this year.$1.07$0.01$1.06$1.92$1.87$0.05
2023Detailed filing. Detailed filing data is available for this year.$1.04$0.03$1.01$2.33$1.66$0.68
2022Detailed filing. Detailed filing data is available for this year.$0.39$0.05$0.34$1.06$0.83$0.24