Waterford Institute Inc
90% goes to programs $8 to raise $100 Declining revenue
Waterford Institute Inc is a 501(c)(3) organization based in Taylorsville, Utah, registered in 1976, with $46,196,729 in FY2023 revenue. CharityIndex grades it C+, and it directs about 90% of spending to programs.
4246 S Riverboat Rd Ste 150, Taylorsville, UT, 84123 EIN 51-0202349 Since 1976
Revenue (FY2023)
$46.2M
▼ 37.2% vs prior year
Science & Tech median: $288K
Expenses (FY2023)
$59.4M
Net assets
$13.0M
Employees
406
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C+
★★★★
Rated on 4 of 4 criteria.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →A+Program efficiency40% of the rating90% to programs · $8 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Waterford Institute Inc: 90% to programs · $8 to raise $100 earns a A+ on this criterion. See the exact thresholds →
DFinancial health25% of the rating3 mo reserves · -28% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Waterford Institute Inc: 3 mo reserves · -28% margin earns a D on this criterion. See the exact thresholds →
AGovernance25% of the rating5 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Waterford Institute Inc: 5 of 6 checks met earns a A on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Waterford Institute Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
Waterford provides pre-k through 2nd-grade reading, math, and science programs that children can use wherever they learn.
Contact & location
- Address
- 4246 S Riverboat Rd Ste 150, Taylorsville, UT, 84123
- City
- Taylorsville
- State
- Utah
- Category
- Science & Technology
- Subcategory
- Engineering & Technology
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $10.8M (FY2013) to $46.2M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $39.7MNet assets $13.0M
Operating margin
-28.5%
Spent more than it raised in the latest fiscal year.
Total assets
$52.7M
Total liabilities
$39.7M
Net assets
$13.0M
Salaries & benefits
$39.4M
66% of expenses
Board members
7
7 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $46,196,729▼37.2% | $59,361,779▼1.8% | $12,989,657▼50.5% | $52,688,300▼27.3% | 990 |
| 2022 | $73,532,657▲24.6% | $60,437,827▲4.7% | $26,236,823▲101% | $72,458,924▲5.4% | 990 |
| 2021 | $59,028,188▲1.6% | $57,748,598▲21.8% | $13,076,290▲12.8% | $68,734,767▼1.3% | 990 |
| 2020 | $58,080,601▲14.6% | $47,412,035▲11.1% | $11,592,856▲1343% | $69,642,790▲84.8% | 990 |
| 2019 | $50,700,399▲55.2% | $42,677,643▲34.1% | $803,277▲111% | $37,694,597▲57.9% | 990 |
| 2018 | $32,670,428▲24.0% | $31,816,159▲26.0% | -$7,292,052▲18.2% | $23,879,656▲71.7% | 990 |
| 2017 | $26,341,309▲18.2% | $25,255,133▲6.3% | -$8,914,928▲12.0% | $13,905,997▲13.8% | 990 |
| 2016 | $22,279,661▲42.4% | $23,752,718▲18.1% | -$10,131,883▼17.4% | $12,222,396▲13.8% | 990 |
| 2015 | $15,642,127▲21.1% | $20,106,878▲10.6% | -$8,633,766▼65.5% | $10,743,958▲92.4% | 990 |
| 2014 | $12,911,999▲20.0% | $18,182,166▲23.8% | -$5,217,438▼5411% | $5,583,948▼39.2% | 990 |
| 2013 | $10,755,793 | $14,692,025▲64.5% | $98,233▼97.6% | $9,176,660▲35.8% | 990 |
| 2012 | — | $8,930,152▼24.7% | $4,175,896▼1.1% | $6,756,989▼13.5% | 990 |
| 2011 | — | $11,866,440▼60.3% | $4,221,881▼72.6% | $7,811,768▼81.1% | 990 |
| 2010 | — | $29,889,549▼1.4% | $15,415,349▲28.3% | $41,288,810▼6.1% | 990 |
| 2009 | — | $30,314,334 | $12,013,557 | $43,956,392 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: David Myers — $590,536 (0.99% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| David Myers | Ceo Chief Executive Officer | 40 | $590,536 |
| Jodi Sohrt | Director of School Relations | 40 | $359,008 |
| Edward Heuston | Executive Director | 40 | $348,787 |
| Sheri Black | Vice President of School Relations | 40 | $345,215 |
| Daniel Newbold | Director of School Relations | 40 | $275,278 |
| Thomas Ness | Chief Financial Officer | 40 | $272,903 |
| Claudia Miner | Executive Director & Co-founder of Upstart | 40 | $270,967 |
| Clark Beal | Svp School Relations | 40 | $252,436 |
| Rebecca Kelley | Chief of Advocacy and Community Engagement | 40 | $236,633 |
| Breck Nielsen | Director of School Relations | 40 | $235,889 |
| Lori Pugh | Chief People Officer | 40 | $217,655 |
| Kathy Landon | Chief Operating Officer | 40 | $217,401 |
| Michael Hight | Chief Technology Officer | 40 | $217,008 |
| Leah Walker | Evp, Equity and Inclusion | 40 | $216,627 |
| Jenni Torres | Executive Vp & Chief Academic Officer | 40 | $191,564 |
| Kim Fischer | Vice President, Marketing | 40 | $190,836 |
| James Lund | Evp, Program Success | 40 | $186,056 |
| Michael Hudson | Vp, It & Security | 40 | $175,470 |
| Allison Gushee Molkenthin | Board Member | 5 | — |
| Ernest Blackwell | Board Chair | 2 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Evaluation and Training Institute | Evaluation Services | $703,475 |
| Knowledge Leaders LLC | Contract Recruiter | $205,453 |
| Tanner Lc | Professional Services | $108,831 |
| Offor Walker Group LLC | Consulting Services | $100,200 |
Grants received · $36.7M total
30 grants to Waterford Institute Inc totaling $36.7M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Cambiar Education | Thrive grant recipient | 2024 | $25,000 |
| Blue Meridian Partners Inc | To support scaling plan | 2023 | $500,000 |
| Gs Donor Advised Philanthropy Fund For Wealth Management Inc | Education | 2023 | $485,000 |
| American Endowment Foundation | Educational | 2023 | $316,660 |
| Cambiar Education | Thrive grant recipient | 2023 | $25,000 |
| National Philanthropic Tr | Public, societal benefit | 2022 | $10,008,325 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2022 | $686,200 |
| American Endowment Foundation | General operating support | 2022 | $316,670 |
| Mdrc | Restricted purpose a | 2022 | $10,000 |
| Blue Meridian Partners Inc | To support scaling plan | 2021 | $1,500,000 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2021 | $425,000 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2021 | $425,000 |
| Donor Advised Charitable Giving | Public, societal benefit | 2021 | $110,675 |
| National Philanthropic Tr | Education | 2021 | $23,942 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2020 | $938,470 |
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Frequently asked questions
- Is Waterford Institute Inc a legitimate nonprofit?
- Yes. Waterford Institute Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 51-0202349, based in Taylorsville, Utah. Donations are tax-deductible.
- What is Waterford Institute Inc's EIN?
- Waterford Institute Inc's Employer Identification Number (EIN) is 51-0202349.
- How much revenue does Waterford Institute Inc report?
- Waterford Institute Inc reported $46,196,729 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Waterford Institute Inc's spending goes to programs?
- Waterford Institute Inc spends about 90% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Waterford Institute Inc have?
- CharityIndex grades Waterford Institute Inc C+, based on program efficiency and fundraising cost.
- How much does Waterford Institute Inc's highest-paid employee make?
- The highest reported compensation on Waterford Institute Inc's latest Form 990 is $590,536, paid to David Myers (Ceo Chief Executive Officer).
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Data for Waterford Institute Inc (EIN 51-0202349) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.