Waterford Institute

Taylorsville, UT · EIN 51-0202349 · 501(c)(3) · Publicly supported organization (170(b)(1)(A)(vi))
Latest filing: Form 990 for the fiscal year ending August 31, 2025 (tax year 2024) · View the filing · Correct or respond

Waterford Institute reported $48.3 million in revenue and $49.6 million in expenses for the fiscal year ending August 31, 2025. Of every $100 it spent, $87.99 went to program services, $11.25 to management and general costs and $0.76 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 85.2% of the total. Government grants made up 7.1%. The highest compensation it reported for one person was $441,259 (CEO CHIEF EXECUTIVE OFFICER). 86 people received more than $100,000 in reportable compensation. Revenue fell 5% between FY2020 and FY2025. Source: Form 990, FY2025.

Where $100 of spending went

The fiscal year ending August 31, 2025 · Form 990, Part IX, line 25 · total expenses $50M

Program services$87.99 $44M
Management & general$11.25 $5.6M
Fundraising$0.76 $375K

For context, the median across 192 covered science & technology charities: $84.33 programs, $15.67 management, $0.00 fundraising (medians computed separately, so they may not sum to $100).

Where $100 of revenue came from

The fiscal year ending August 31, 2025 · Form 990, Part VIII · total revenue $48M

Contributions & grants (non-government)$5.86 $2.8M
Government grants$7.06 $3.4M
Program service revenue$85.18 $41M
Investment income$1.88 $908K
Other revenue$0.02 $9,894

The 990 scorecard · same measures for every charity, no grades

FY2025 filing. Median across 192 covered charities in this category, from their latest filings.
Measure	FY2025	Median
Program services Part IX 25(B) ÷ 25(A)	88.0%	83.2%
Management & general Part IX 25(C) ÷ 25(A)	11.3%	15.5%
Fundraising Part IX 25(D) ÷ 25(A)	0.8%	0.0%
Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h	$0.06	$0.00
Contributions & grants share of revenue Part VIII 1h ÷ 12	12.9%	51.6%
Government grants share of revenue Part VIII 1e ÷ 12	7.1%	3.2%
Program service revenue share Part VIII 2g ÷ 12	85.2%	19.2%
Highest reported compensation Part VII-A, columns D–F	$441,259	$513,729
Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A)	0.89%	1.72%
People paid over $100,000 Part VII, line 2	86	27
Net assets, in months of expenses Part X 33(B) ÷ monthly expenses	2.8	14.7
Independent voting board members Part VI 1a–1b	7 of 7	94.3%

A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.

What the money paid for, in its own words

FY2025 · Form 990, Part III · the three largest programs by expense

$44M expenses · 100.0% of program spending · revenue $41M

Waterford supports nearly 200,000 children pre-k - 2nd grade annually through its home-based and place-based programs (upstart and waterford early learning) that teach students foundational early learning skills in reading, math, and science. Waterford has strong evidence of the impact of its programs on children's learning outcomes when implemented with fidelity, as demonstrated via multiple essa tier 1 research studies using waterford programs. On average, students advance a full year or more beyond expected growth, and those gains continue to benefit them in the long term

Highest reported compensation

FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here

Role	From this org	From related orgs	Other	Total
CEO CHIEF EXECUTIVE OFFICER Former, 40.00 hrs/week	$428,662	$0	$12,597	$441,259
VICE PRESIDENT OF SCHOOL RELATIONS Former, 40.00 hrs/week	$358,079	$0	$24,627	$382,706
CHIEF TECHNOLOGY OFFICER Former, 40.00 hrs/week	$327,224	$0	$37,915	$365,139
SVP OF TECHNOLOGY Officer, 40.00 hrs/week	$311,726	$0	$37,177	$348,903
DIRECTOR OF SCHOOL RELATIONS Highest compensated employee, 40.00 hrs/week	$312,500	$0	$33,166	$345,666
CHIEF FINANCIAL OFFICER Former, 40.00 hrs/week	$289,332	$0	$35,493	$324,825
EXECUTIVE DIRECTOR & CO-FO Former, 40.00 hrs/week	$280,423	$0	$30,382	$310,805
EXECUTIVE DIRECTOR & CO-FO Former, 40.00 hrs/week	$283,189	$0	$18,436	$301,625

86 people received more than $100,000 in reportable compensation from Waterford Institute (Part VII, line 2). Compensation of current officers, directors and key employees totaled $5.3M (Part IX, line 5).

6 years of filings

Form 990, Parts I, VII, IX and X · each row is that year's own filing, linked

RevenueExpenses

Filing	Revenue	Expenses	Programs	Net assets	Top pay
FY2025 ⓘ	$48M	$50M	88.0%	$12M	$441,259
FY2024 ⓘ	$46M	$59M	89.9%	$13M	$627,661
FY2023 ⓘ	$74M	$60M	90.1%	$26M	$460,184
FY2022 ⓘ	$59M	$58M	90.5%	$13M	$447,841
FY2021 ⓘ	$58M	$47M	90.9%	$12M	$553,242
FY2020 ⓘ	$51M	$43M	91.5%	$803K	$375,850

Governance answers, as filed

FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means

Voting board members, and how many are independent Part VI, lines 1a–1b7 · 7 independent
Audited financial statements Part XII 2bYes
Conflict-of-interest policy Part VI 12aYes
Whistleblower policy Part VI 13Yes
Document retention policy Part VI 14No
Independent process for top executive pay Part VI 15aYes
Board given the 990 before filing Part VI 11aYes
Family or business ties among insiders Part VI 2No
Aware of a significant diversion of assets Part VI 5No
Excess benefit transaction with an insider Part IV 25aNo
Loans to or from insiders outstanding Part IV 26No
Lobbying, or a 501(h) election in effect Part IV 4Yes
Over $15,000 of professional fundraising services Part IV 18No
Over $10,000 of activity outside the U.S. Part IV 14bYes
Employees Part I, line 5296

Largest outside contractors

FY2025 · Form 990, Part VII, Section B · businesses only

SOMBRA SOFTWARE INC Software developers	$1,437,742
DESIGNEDENEGAGEMENT Participant recruitment	$802,598
AMERICAN INSTITUTES FOR RESEARCH External evaluator for the eir2 grant	$419,200
BELLWETHER EDUCATION PARTNERS INC Business strategy consulting	$168,000
OFFOR WALKER GROUP LLC Executive recruitment	$142,776

Individuals listed as contractors are left out. 5 contractors were paid more than $100,000 in all.

Private foundation grants it received

5 private foundations reported grants to Waterford Institute totaling $7.9M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.

Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.

Correct a figure or respond

Every number above is copied from Waterford Institute's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Waterford Institute, you can publish a response that is linked from this page.

Report a correction Respond as Waterford Institute How this works

Similar-sized charities in this cause

Gmto Corporation
Pasadena, CA · revenue $47M · programs 78.0% · FY2025
Southern Research Institute
Birmingham, AL · revenue $50M · programs 70.0% · 2024
National Council of Examiners For Engineering and Surveying
Greenville, SC · revenue $46M · programs 76.7% · FY2025
Universities Space Research Association
Washington, DC · revenue $51M · programs 76.7% · FY2025
The Math Learning Center
Salem, OR · revenue $45M · programs 84.8% · 2024

All science & technology charities · Largest charities in Utah

Questions people ask

How much of Waterford Institute's spending goes to programs?

In the fiscal year ending August 31, 2025, Waterford Institute reported that 88.0% of its $49.6 million in expenses went to program services, 11.3% to management and general and 0.8% to fundraising (Form 990, Part IX).

How much does Waterford Institute pay its top executive?

The largest total compensation Waterford Institute reported for one person in the fiscal year ending August 31, 2025 was $441,259, for the role of CEO CHIEF EXECUTIVE OFFICER (Form 990, Part VII, including compensation from related organizations and other compensation).

Where does Waterford Institute get its money?

Of $48.3 million in revenue in the fiscal year ending August 31, 2025, 12.9% came from contributions and grants (including 7.1% from government grants) and 85.2% from program service revenue (Form 990, Part VIII).

Is Waterford Institute a registered charity?

The IRS lists EIN 51-0202349 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.

Sources

FY2025: Form 990 for the fiscal year ending August 31, 2025, object 202601829349301950 · read the filing · XML
FY2024: Form 990 for the fiscal year ending August 31, 2024, object 202531969349301833 · read the filing
FY2023: Form 990 for the fiscal year ending August 31, 2023, object 202411979349302666 · read the filing
FY2022: Form 990 for the fiscal year ending August 31, 2022, object 202341989349301654 · read the filing
FY2021: Form 990 for the fiscal year ending August 31, 2021, object 202201969349302530 · read the filing
FY2020: Form 990 for the fiscal year ending August 31, 2020, object 202131969349301043 · read the filing

All filings for EIN 51-0202349: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.