Watertown Area Community Foundation
- Assets
- $12.5m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Watertown, WI
- Founding
- 10/1992
- Data as of
- 06/2022
- EIN
- 39-1708484
Organization Overview
Watertown Area Community Foundation is located in Watertown, WI. The organization was established in 1992. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Watertown Area Community Foundation 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 06/2022, Watertown Area Community Foundation generated $2.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (29.4%) each year. All expenses for the organization totaled $887.4k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (32.6%) per year over the past 3 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FOR THE BETTERMENT OF WATERTOWN, WISCONSIN AND THE SURROUNDING AREA AND PROMOTE THE ENHANCEMENT OF THE QUALITY OF LIFE FOR ITS PEOPLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP FUNDING AND COMMUNITY PROJECTS FOR THE PURPOSE OF HIGHER EDUCATION AND COMMUNITY IMPROVEMENT. FUNDING IS AWARDED BASED ON MERIT AND NEED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Schultz President | OfficerTrustee | 5 | $0 |
Bill Oswald Vice President | OfficerTrustee | 5 | $0 |
Mike Hoppenrath Treasurer | OfficerTrustee | 5 | $0 |
Sue Rhodes Secretary | OfficerTrustee | 5 | $0 |
Susanne Bradow Director | Trustee | 2 | $0 |
Sandra Budewitz Director | Trustee | 2 | $0 |
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 | $1,588,717 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,588,717 |
| Total Program Service Revenue | $0 |
| Investment income | $368,072 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $142,481 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,099,270 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $293,327 |
| Grants and other assistance to domestic individuals. | $504,750 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,995 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $67,034 |
| Fees for services: Other | $237 |
| Advertising and promotion | $0 |
| Office expenses | $541 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,539 |
| All other expenses | $0 |
| Total functional expenses | $887,423 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $118,092 |
| Savings and temporary cash investments | $1,455,322 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $10,969,265 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,542,679 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $1,091,750 |
| Deferred revenue | $0 |
| 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 | $0 |
| Other liabilities | $1,838,805 |
| Total liabilities | $2,930,555 |
| Net assets without donor restrictions | $611,099 |
| Net assets with donor restrictions | $9,001,025 |
| 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 | $12,542,679 |
Grants Awarded
Over the last fiscal year, Watertown Area Community Foundation has awarded $1,910,130 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF WATERTOWN PURPOSE: LIBRARY EXPANSION | $1,905,130 |
GLACIAL HERITAGE DEVELOPMENT PARTNERSHIP PURPOSE: THRIVEED INVESTMENT PLEDGE | $5,000 |