Waterloo Community Schools Foundation
- Assets
- $1.2m
- Revenue
- $482.5k
- Investments
- $0.0
- Employees
- 3
- Location
- Waterloo, IA
- Founding
- 08/2019
- Data as of
- 06/2022
- EIN
- 42-1364293
Organization Overview
Waterloo Community Schools Foundation is located in Waterloo, IA. The organization was established in 2019. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 06/2022, Waterloo Community Schools Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Waterloo Community Schools 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, Waterloo Community Schools Foundation generated $482.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $503.4k during the year ending 06/2022. While expenses have increased by 15.6% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SERVING AS A CATALYST FOR EDUCATIONAL EXCELLENCE AND PRIDE IN THE WATERLOO SCHOOL DISTRICT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WATERLOO COMMUNITY SCHOOLS FOUNDATION RAISES FUNDS WHICH ARE USED TO ENCOURAGE AND PROMOTE THE IMPROVEMENT OF THE QUALITY OF EDUCATION WITHIN THE WATERLOO COMMUNITY SCHOOL DISTRICT. THE WATERLOO COMMUNITY SCHOOLS FOUNDATION PROVIDES (1) A MECHANISM FOR CONTRIBUTIONS TO BE ALLOCATED TO WORTHWHILE CHARITABLE AND EDUCATIONAL PROGRAMS AND FACILITIES; (2) A VEHICLE FOR SOLICITATION, ACCUMULATION, INVESTMENT, OTHER MANAGEMENT, AND DISTRIBUTION OF SUCH RESOURCES FOR IDENTIFIED NEEDS AND PURPOSES; AND (3) AN INCREASE IN COMMUNITY INVOLVEMENT WITH AND SUPPORT FOR THE WATERLOO COMMUNITY SCHOOL DISTRICT BY ENGOURAGING OPEN COMMUNICATION BETWEEN THE COMMUNITY AND THE DISTRICT ON MATTERS OF MUTUAL CONCERN, AND BY INCREASING COMMUNITY CONFIDENCE IN THE WATERLOO COMMUNITY SCHOOL DISTRICT. GRANTS WERE PAID TO THE WATERLOO COMMUNITY SCHOOL DISTRICT AND 62 STUDENTS AS WELL AS TO THE UNIVERSITY OF NORTHERN IOWA FOUNDATION FOR THE TEACH WATERLOO PROGRAM THAT SUPPORTS WATERLOO STAFF OF COLOR SEEKING A TEACHING CERTIFICATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hannah Luce Executive Director | Officer | 40 | $36,825 |
Kalola Roby President | OfficerTrustee | 1 | $0 |
Kristin Stanford Past President | OfficerTrustee | 0.5 | $0 |
Jay Koweil Secretary | OfficerTrustee | 1 | $0 |
Kate Reicherts Vice President | OfficerTrustee | 1 | $0 |
Ann Richter Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $11,302 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $437,468 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $448,770 |
| Total Program Service Revenue | $0 |
| Investment income | $29,066 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,072 |
| Net Income from Fundraising Events | -$3,421 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $482,487 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $385,856 |
| Grants and other assistance to domestic individuals. | $9,118 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $64,523 |
| Compensation of current officers, directors, key employees. | $12,905 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,636 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,207 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,227 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,984 |
| Fees for services: Other | $276 |
| Advertising and promotion | $1,092 |
| Office expenses | $5,354 |
| Information technology | $7,605 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $698 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $729 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,557 |
| All other expenses | $1,497 |
| Total functional expenses | $503,359 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $475,947 |
| Savings and temporary cash investments | $86,923 |
| 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 | $639,469 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,202,339 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $240,000 |
| 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 | $0 |
| Total liabilities | $240,000 |
| Net assets without donor restrictions | $85,309 |
| Net assets with donor restrictions | $877,030 |
| 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 | $1,202,339 |
Grants Awarded
Over the last fiscal year, Waterloo Community Schools Foundation has awarded $381,006 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Cedar Falls, IA PURPOSE: SUPPORT FOR TEACH WATERLOO PROGRAM | $300,000 |
Waterloo, IA PURPOSE: PURCHASE OF EDUCATIONAL EQUIPMENT AND STUDENT PROGRAM SUPPORT. | $81,006 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Waterloo Community Schools Foundation has recieved totaling $303,876.
| Awarding Organization | Amount |
|---|---|
Harold W Siebens Charitable New York, NY PURPOSE: FULL-TIME EXECUTIVE DIRECTOR | $91,620 |
Waterloo Community Schools Foundation Waterloo, IA PURPOSE: PURCHASE OF EDUCATIONAL EQUIPMENT AND STUDENT PROGRAM SUPPORT. | $81,006 |
Young Family Foundation Of Waterloo Iowa Waterloo, IA PURPOSE: YOUTH PROGRAMS | $51,500 |
Cedar Valley United Way Waterloo, IA PURPOSE: GRANT FOR SPECIFIC PROGRAM SUPPORT. | $28,473 |
Max And Helen Guernsey Charitable Foundation Waterloo, IA PURPOSE: CAMP INVENTION PROGRAM | $18,000 |
Cedar Falls Community Foundation Inc Cedar Falls, IA PURPOSE: SCHOLARSHIPS | $13,000 |
Endowment Analysis
| Beg. Balance | $159,470 |
| Earnings | -$849 |
| Other Expense | $25 |
| Ending Balance | $158,596 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Robert B Daugherty Foundation Omaha, NE | $895,599,209 | $80,372,150 |
Big Shoulders Fund Chicago, IL | $125,993,936 | $62,883,883 |
Voluntary Interdistrict Choice Corporation Saint Louis, MO | $12,736,595 | $40,180,054 |
Wonderful Foundations Minneapolis, MN | $335,018,950 | $18,325,687 |
Foundation For Educational Services Inc Lincoln, NE | $9,496,243 | $19,971,650 |
Northern School District Tr Nsdt Ashland, WI | $7,100,055 | $19,700,380 |
Plumbers & Steamfitters H & W Trust Iowa State Bank Ttee Des Moines, IA | $75,894,378 | $21,812,028 |
Cristo Rey Network Chicago, IL | $14,102,009 | $11,695,592 |
City Colleges Of Chicago Foundation Chicago, IL | $22,678,364 | $14,327,610 |
Big Ten Academic Alliance Champaign, IL | $13,766,841 | $9,203,675 |
P E O Foundation Des Moines, IA | $140,487,423 | $16,863,604 |
Kidsmart Saint Louis, MO | $4,061,844 | $8,307,759 |