Civic Intelligence

Deep Waters Academy

990 • Fiscal year 2023 • EIN 85-3670476

Jul 01, 2022 to Jun 30, 2023 • Filed on Nov 18, 2024

Organization ProfileDEEPWATERSACADEMY.ORG
4430 Sterling Wood WayHouston, TX 77059

(281) 639-7060

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.03x

Higher debt load relative to assets than 72% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

68th percentile

0.01x

Higher debt load relative to revenue than 68% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

81st percentile

29%

Higher net margin than 81% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

85th percentile

$22,120

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 9.5% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

95th percentile

169%

Faster asset growth than 95% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

91st percentile

119%

Faster revenue growth than 91% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Up

$103,885

Up $65,217 (+169%) from 2022

Net Assets

Up

$101,091

Up $67,516 (+201%) from 2022

Liabilities

Down

$2,794

Down $2,299 (-45%) from 2022

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin81st percentile

Revenue

Up

$233,362

Up $126,896 (+119%) from 2022

Expenses

Up

$165,846

Up $83,116 (+100%) from 2022

Net Income

Up

$67,516

Up $43,780 (+184%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

2023

Assets$103,885
Liabilities$2,794
Net Assets$101,091
Open 2023 Filing

Operations Trend

Revenue Growth91st percentile

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

2023

Revenue$233,362
Expenses$165,846
Net Income$67,516
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Nov 18, 2024
Return Version
2022v5.0
Gross Receipts
$237,903
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$21,735$86,952▲ $65,217
Total Assets$38,668$103,885▲ $65,217
Other Assets Total$16,933$16,933→ $0
Liabilities
Other Liabilities$5,093$2,794▼ $2,299
Total Liabilities$5,093$2,794▼ $2,299
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$33,575$101,091▲ $67,516
Total Net Assets Fund Balance$33,575$101,091▲ $67,516
Total Liabilities and Net Assets / Fund Balance$38,668$103,885▲ $65,217

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$16,933--
Compensation and Service Providers
Top Officer Pay85th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kristin FontanaVice-presidePT$22,120$22,120
Amelia ChiaraPresidentPT$15,520$15,520

Board Members and Trustees

NameTitle
Francis FontanaBoard Member
Kim NotoBoard Member
Vincent ChiaraSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$86,573
Program Service Revenue
$145,902
Investment Income
$0
Other Revenue
$887
All Other Contributions
$86,573
Change in Net Assets
$67,516
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$125,188
Other Expenses$40,658
Total Fundraising Expense$6,216
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$77,363--$77,363
Current Officers, Directors, Trustees, and Key Employees$7,890$24,000$5,750$37,640
Occupancy$12,624--$12,624
Payroll Taxes$8,848$871$466$10,185
Office Expenses$7,587--$7,587
Insurance$4,606--$4,606
All Other Expenses$3,319--$3,319
Fees for Services Other$1,581--$1,581
Other Expenses$1,450--$1,450
Advertising$1,312--$1,312
Total Functional Expenses$134,759$24,871$6,216$165,846
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$5,428
Fundraising Direct Expenses$4,541
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
Direct Deposit Payable$1,847
TX Unemployment Tax$641
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 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
4430 STERLING WOOD WAY, HOUSTON, TX 77059

Signing Officer

Name
Amelia Chiara
Title
President
Phone
2816397060
Signed
2024-11-18
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
14
Volunteers
20

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, 2022 and ending june 30, 2023, dwa had 42 students and 17 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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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0DEEP WATERS ACADEMY'S NONDISCRIMINATION POLICY IS PUBLICIZED ON THE ITS EMPLOYEE APPLICATION AND ON THE ADMISSIONS PAGE OF ITS WEBSITE.
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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, 2022 AND ENDING JUNE 30, 2023, DWA HAD 42 STUDENTS AND 17 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 KRISTIN FONTANA PRESIDENT VICE PRES SISTER-IN-LAW
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0AMELIA CHIARA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02816397060
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-18
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0760493089
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ANN THOMAS CPA PC
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HOUSTON
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ReturnHeader/PreparerPersonGrp/PhoneNum02813333848
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-18
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PAUL GLENN THOMAS III
ReturnHeader/ReturnTs02024-11-20T10:47:17-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$103,885
Liabilities
$2,794
Net assets
$101,091
Revenue
$233,362
Expenses
$165,846
Net income
$67,516
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