Watertown Area Community Foundation
- Assets
- $13.2m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Watertown, WI
- Founding
- 10/1992
- Data as of
- 06/2021
- 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 06/2021, Watertown Area Community Foundation generated $3.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 40.1% each year . All expenses for the organization totaled $2.5m during the year ending 06/2021. While expenses have increased by 46.3% 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
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 |
|---|---|---|---|
Kevin Clifford Director | OfficerTrustee | 5 | $0 |
Mike Hoppenrath Treasurer | OfficerTrustee | 5 | $0 |
Tom Schultz President | OfficerTrustee | 5 | $0 |
Susanne Bradow Director | Trustee | 2 | $0 |
Sandra Budewitz Director | Trustee | 2 | $0 |
Deb Fischer 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 | $2,497,359 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,497,359 |
| Total Program Service Revenue | $0 |
| Investment income | $248,113 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $773,678 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,519,150 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,909,130 |
| Grants and other assistance to domestic individuals. | $476,250 |
| 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 | $1,030 |
| Fees for services: Accounting | $26,227 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $62,679 |
| Fees for services: Other | $99 |
| Advertising and promotion | $0 |
| Office expenses | $590 |
| 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 | $1,458 |
| All other expenses | $0 |
| Total functional expenses | $2,477,463 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $223,023 |
| Savings and temporary cash investments | $0 |
| 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 | $13,009,275 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,232,298 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $1,054,500 |
| 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 | $837,979 |
| Total liabilities | $1,892,479 |
| Net assets without donor restrictions | $639,249 |
| Net assets with donor restrictions | $10,700,570 |
| 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 | $13,232,298 |
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 |
Jefferson, WI PURPOSE: THRIVEED INVESTMENT PLEDGE | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Watertown Area Community Foundation has recieved totaling $861,000.
| Awarding Organization | Amount |
|---|---|
Comerica Charitable Tr Detroit, MI PURPOSE: FOR THE ORGANIZATION'S GENERAL CHARITABLE PURPOSES | $500,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $200,000 |
Earl And Eugenia Quirk Foundation Inc Watertown, WI PURPOSE: PROGRAM SUPPORT | $100,000 |
Joseph And Sharon Darcey Foundation Inc Watertown, WI PURPOSE: PROGRAM SUPPORT | $42,000 |
Joseph And Sharon Darcey Foundation Inc Watertown, WI PURPOSE: PROGRAM SUPPORT | $10,000 |
George Colletti Family Foundation Middleton, WI PURPOSE: COMMUNITY ENHANCEMENT SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Communitygiving St Cloud, MN | $193,103,222 | $46,523,540 |
Quad Cities Community Foundation Bettendorf, IA | $165,771,747 | $15,098,956 |
Muskegon County Community Foundation Muskegon, MI | $247,862,579 | $28,555,582 |
Greater Cedar Rapids Community Foundation Cedar Rapids, IA | $223,368,352 | $26,493,454 |
Community Foundation Of Greater Flint Flint, MI | $212,857,243 | $17,865,297 |
Ann Arbor Area Community Foundation Ann Arbor, MI | $219,428,649 | $31,760,954 |
3m Open Fund Blaine, MN | $2,792,523 | $13,492,516 |
Fremont Area Community Foundation Fremont, MI | $291,559,908 | $22,142,594 |
Dupage Community Foundation Downers Grove, IL | $125,703,251 | $14,295,087 |
Grand Haven Area Community Foundation Inc Grand Haven, MI | $189,481,921 | $23,464,810 |
Oshkosh Area Community Foundation Corporation Oshkosh, WI | $140,509,815 | $17,534,681 |
Community Foundation Of Greater Dubuque Dubuque, IA | $145,486,240 | $37,640,315 |