Aquifer Inc
- Assets
- $15.0m
- Revenue
- $8.4m
- Investments
- $0.0
- Employees
- 45
- Location
- Hanover, NH
- Founding
- 10/2007
- Data as of
- 06/2024
- EIN
- 20-4755198
Organization Overview
Aquifer Inc is located in Hanover, NH. The organization was established in 2007. According to its NTEE Classification (B28) the organization is classified as: Special Education, under the broad grouping of Education and related organizations. As of 06/2024, Aquifer Inc employed 45 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aquifer 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 06/2024, Aquifer Inc generated $8.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $7.4m during the year ending 06/2024. While expenses have increased by 10.5% per year over the past 8 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.
Since 2015, Aquifer Inc has awarded 52 individual grants totaling $679,979. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE MEDICAL EDUCATION THROUGH COLLABORATIVE DEVELOPMENT, MAINTENANCE AND RESEARCH OF INNOVATIVE AND COMPREHENSIVE COMPUTER-ASSISTED INSTRUCTION PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AQUIFER IS A NON PROFIT ORGANIZATION DELIVERING VIRTUAL PATIENT CASES AND ASSESSMENT TOOLS DESIGNED BY THE NATION'S LEADING MEDICAL EDUCATORS TO HELP STUDENTS ACQUIRE MUCH NEEDED CRITICAL REASONING, DIAGNOSTIC AND COMMUNICATION SKILLS. IN 2023 OVER 78,000 STUDENTS TOOK AT LEAST ONE AQUIFER COURSE AND COMPLETED OVER 1.06 MILLION VIRTUAL PATIENT CASES. CONTINUED ON SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Fernandes Director | Trustee | 0 | $0 |
Stephen Lawe Director/treasurer | OfficerTrustee | 1 | $0 |
Blake Darcy Director/chair | OfficerTrustee | 1 | $0 |
Bruce Morgenstern Director | Trustee | 0 | $0 |
Charles Prober Director | Trustee | 0 | $0 |
Leslie Fall MD Chief Executive Officer | Officer | 40 | $288,040 |
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 | $50,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $50,000 |
| Total Program Service Revenue | $8,114,169 |
| Investment income | $205,878 |
| 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 | $8,370,047 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $85,000 |
| 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. | $842,153 |
| Compensation of current officers, directors, key employees. | $320,112 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,033,610 |
| Pension plan accruals and contributions | $111,107 |
| Other employee benefits | $753,998 |
| Payroll taxes | $245,630 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,171 |
| Fees for services: Accounting | $44,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $547,675 |
| Advertising and promotion | $10,295 |
| Office expenses | $48,144 |
| Information technology | $904,311 |
| Royalties | $0 |
| Occupancy | $101,180 |
| Travel | $418,387 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,920 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $225,495 |
| Insurance | $37,223 |
| All other expenses | $0 |
| Total functional expenses | $7,435,199 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,986 |
| Savings and temporary cash investments | $9,087,296 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,955,270 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $173,874 |
| Net Land, buildings, and equipment | $13,369 |
| Investments—publicly traded securities | $798,204 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $769,849 |
| Other assets | $201,045 |
| Total assets | $15,006,893 |
| Accounts payable and accrued expenses | $1,679,212 |
| Grants payable | $0 |
| Deferred revenue | $6,701,762 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $278,160 |
| Other liabilities | $204,793 |
| Total liabilities | $8,863,927 |
| Net assets without donor restrictions | $6,142,966 |
| Net assets with donor restrictions | $0 |
| 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 | $15,006,893 |
Grants Awarded
Over the last fiscal year, Aquifer Inc has awarded $85,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
ALLIANCE FOR ACADEMIC INTERNAL MEDICINE INC PURPOSE: TO ADVANCE MEDICAL EDUCATION | $20,000 |
INTERNATIONAL ASSOCIATION OF MEDICAL EDUCATORS PURPOSE: TO ADVANCE MEDICAL EDUCATION | $15,000 |
SOCIETY OF TEACHERS OF FAMILY MEDICINE PURPOSE: TO ADVANCE MEDICAL EDUCATION | $10,000 |
THE AMERICAN GERIATRICS SOCIETY INC PURPOSE: TO ADVANCE MEDICAL EDUCATION | $20,000 |
THE ASSOCIATION OF UNIVERSITY RADIOLOGISTS PURPOSE: TO ADVANCE MEDICAL EDUCATION | $10,000 |
THE COUNCIL ON MEDICAL STUDENT EDUCATION IN PEDIATRICS PURPOSE: TO ADVANCE MEDICAL EDUCATION | $10,000 |