Waterford Institute Inc
- Assets
- $69.6m
- Revenue
- $58.1m
- Investments
- $0.0
- Employees
- 323
- Location
- Taylorsville, UT
- Founding
- 10/1976
- Data as of
- 08/2021
- EIN
- 51-0202349
Organization Overview
Waterford Institute Inc is located in Taylorsville, UT. The organization was established in 1976. According to its NTEE Classification (U41) the organization is classified as: Computer Science, under the broad grouping of Science & Technology and related organizations. As of 08/2021, Waterford Institute Inc employed 323 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Waterford Institute Inc 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, Waterford Institute Inc generated $58.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 24.4% each year . All expenses for the organization totaled $47.4m during the year ending 08/2021. While expenses have increased by 15.4% 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
PROVIDING ACADEMIC EQUITY FOR ALL LEARNERS THROUGH COMMUNITY, SCHOOL, AND HOME PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WATERFORD.ORG SEEKS TO BLEND THE BEST ASPECTS OF LEARNING SCIENCE, MENTORING RELATIONSHIPS, AND INNOVATIVE TECHNOLOGIES TO FORM COMMUNITY, SCHOOL, AND HOME PROGRAMS THAT DELIVER EXCELLENCE AND EQUITY FOR ALL LEARNERS. OUR COLLABORATIVE MODEL OF CHILD, FAMILY, AND EDUCATOR ENGAGEMENT DELIVERS SIGNIFICANT AND LASTING GAINS IN ACADEMIC ACHIEVEMENT. SCHOOL, LEGISLATIVE AND PHILANTHROPIC SPONSORS ENABLE WATERFORD UPSTART, OUR AT-HOME, KINDERGARTEN READINESS PROGRAM, TO PREPARE FOUR- AND FIVE-YEAR OLD CHILDREN FOR SCHOOL. SPONSORS CUSTOMIZE WATERFORD UPSTART BASED ON LOCAL NEEDS, CHOOSING FROM OUR ARRAY OF CAPABILITIES IN CURRICULUM & INSTRUCTION, EDUCATOR SERVICES, FAMILY SERVICES, ACCESSIBILITY, AND PROGRAM MANAGEMENT. THE INSTRUCTIONAL SOFTWARE AND OTHER DIGITAL COMPONENTS OF WATERFORD UPSTART CONTINUE INTO KINDERGARTEN AND GO THROUGH SIXTH GRADE, AND THESE ARE AVAILABLE FOR SCHOOL PURCHASE AS WATERFORD READING ACADEMY - A COMPREHENSIVE, INDIVIDUALIZED AND ADAPTIVE PLATFORM THAT GUIDES STUDENTS WHILE "LEARNING TO READ AND "READING TO LEARN."
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Andrew Myers President | Officer | 40 | $520,226 |
Edward Benjamin Heuston CEO | OfficerTrustee | 40 | $332,835 |
Sheri Black Sr Director School Relations | 40 | $293,219 | |
Christoper Stevenson VP School Relations | Officer | 40 | $268,241 |
Claudia Miner Chief Upstart Officer | Officer | 40 | $261,909 |
Trevor Kerr VP Inside School Relations | 40 | $249,349 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Promise 54 Consultant | 8/30/21 | $385,500 |
Shannan Skidmore Consulting Grant Writer | 8/30/21 | $137,548 |
Evaluation And Training Institute Evaluation Services | 8/30/21 | $969,764 |
Thompson Coburn Consultant | 8/30/21 | $268,543 |
The Tasc Group Consultant | 8/30/21 | $259,350 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,319,011 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,319,011 |
| Total Program Service Revenue | $46,692,439 |
| Investment income | $35,933 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $58,080,601 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $7,337,480 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $17,098,496 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,056,253 |
| Payroll taxes | $1,502,054 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $63,124 |
| Fees for services: Accounting | $231,624 |
| Fees for services: Lobbying | $986,849 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,808,565 |
| Advertising and promotion | $3,407,682 |
| Office expenses | $0 |
| Information technology | $7,523,031 |
| Royalties | $0 |
| Occupancy | $453,442 |
| Travel | $489,959 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $342,303 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $338,008 |
| Insurance | $124,111 |
| All other expenses | $78,389 |
| Total functional expenses | $47,412,035 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $43,053,503 |
| Pledges and grants receivable | $8,611,759 |
| Accounts receivable, net | $7,493,020 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,442,996 |
| Prepaid expenses and deferred charges | $2,227,818 |
| Net Land, buildings, and equipment | $191,598 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,622,096 |
| Other assets | $0 |
| Total assets | $69,642,790 |
| Accounts payable and accrued expenses | $8,604,025 |
| Grants payable | $0 |
| Deferred revenue | $40,869,655 |
| 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 | $8,576,254 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $58,049,934 |
| Net assets without donor restrictions | $2,981,097 |
| Net assets with donor restrictions | $8,611,759 |
| 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 | $69,642,790 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Waterford Institute Inc has recieved totaling $2,258,162.
| Awarding Organization | Amount |
|---|---|
Dalio Foundation Inc Westport, CT PURPOSE: RESTRICTED TO SUPPORT THE GOAL OF BRIDGING THE EARLY EDUCATION GAP | $1,001,402 |
Omidyar Network Fund Inc Redwood City, CA PURPOSE: TO SUPPORT THE EXPANSION OF THE UPSTART PROGRAM ACROSS THE UNITED STATES | $1,000,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $110,675 |
United Way Of The Greater Lehigh Valley Allentown, PA PURPOSE: PROGRAM OPERATING COSTS | $96,000 |
Cme Group Foundation Chicago, IL PURPOSE: WATERFORD UPSTART SUMMER LEARNING PATH CHICAGO | $50,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $85 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Waterford Institute Inc Taylorsville, UT | $69,642,790 | $58,080,601 |
The Freebsd Foundation Boulder, CO | $5,820,163 | $1,422,525 |
Silicon Slopes Commons Lehi, UT | $99,473 | $91,694 |
Roaring Fork Computer Society Dba Rofnet Glenwood Springs, CO | $0 | $0 |
Strong Ties Peoria, AZ | $0 | $0 |
Utah First- For Inspiration And Recognition Of Science And Technol Salt Lake City, UT | $71,460 | $0 |
Effectivesc Golden, CO | $727,866 | $510 |
Jano Foundation Henderson, NV | $143 | $533 |