Watertown Community Foundation
- Assets
- $33.8m
- Revenue
- $7.3m
- Investments
- $0.0
- Employees
- 3
- Location
- Watertown, SD
- Founding
- 05/1979
- Data as of
- 12/2021
- EIN
- 46-0350319
Organization Overview
Watertown Community Foundation is located in Watertown, SD. The organization was established in 1979. 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. As of 12/2021, Watertown Community Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Watertown 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 12/2021, Watertown Community Foundation generated $7.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 29.0% each year . All expenses for the organization totaled $1.7m during the year ending 12/2021. While expenses have increased by 9.5% 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.
Since 2015, Watertown Community Foundation has awarded 149 individual grants totaling $4,474,095. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS AWARDED TO VARIOUS NONPROFIT ORGANIZATIONS THAT SUPPORT CHARITY, EDUCATION AND CULTURE IN THE WATERTOWN COMMUNITY
GRANTS AWARDED TO VARIOUS AGENCY FUNDS THAT PROMOTE CHARITY, EDUCATION AND CULTURE IN THE WATERTOWN COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Jeff Danielsen Vice-Chairman | Officer | 1 | $0 |
Joel Vockrodt Chairman | Officer | 1 | $0 |
Kristen Henderson Director | Trustee | 1 | $0 |
Jacob Schaffer Trustee | Trustee | 5 | $0 |
Julie Ranum Director | Trustee | 1 | $0 |
Charlie Ewalt Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $300,564 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,596,475 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,897,039 |
| Total Program Service Revenue | $80,659 |
| Investment income | $807,874 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $459,790 |
| Net Income from Fundraising Events | $102,721 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,348,083 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,139,494 |
| Grants and other assistance to domestic individuals. | $70,656 |
| 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 | $155,067 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,224 |
| Payroll taxes | $12,781 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,276 |
| Fees for services: Accounting | $12,568 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $181,495 |
| Advertising and promotion | $61,059 |
| Office expenses | $13,413 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,578 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,499 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,455 |
| Insurance | $6,882 |
| All other expenses | $0 |
| Total functional expenses | $1,718,014 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,825 |
| Savings and temporary cash investments | $2,873,831 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,129 |
| 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 | $234,038 |
| Investments—publicly traded securities | $30,632,470 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $44,883 |
| Total assets | $33,816,176 |
| Accounts payable and accrued expenses | $3,551 |
| Grants payable | $1,199,794 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $10,859,813 |
| 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 | $12,063,158 |
| Net assets without donor restrictions | $2,295,792 |
| Net assets with donor restrictions | $19,457,226 |
| 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 | $33,816,176 |
Grants Awarded
Over the last fiscal year, Watertown Community Foundation has awarded $841,742 in support to 28 organizations.
| Grant Recipient | Amount |
|---|---|
Watertown, SD PURPOSE: WELFARE | $328,728 |
Watertown, SD PURPOSE: COMMUNITY IMPROVEMENTS | $75,540 |
DUEL HIGH SCHOOL PURPOSE: EDUCATION | $55,693 |
Watertown, SD PURPOSE: YOUTH PROGRAMS | $46,715 |
Madison, SD PURPOSE: WELFARE | $44,750 |
Watertown, SD PURPOSE: HISTORICAL PRESERVATION | $23,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Watertown Community Foundation has recieved totaling $1,080.
| Awarding Organization | Amount |
|---|---|
First Interstate Bancsystem Foundation Inc Billings, MT PURPOSE: GENERAL OPERATING SUPPORT | $1,080 |
Endowment Analysis
| Beg. Balance | $16,558,212 |
| Earnings | $1,977,439 |
| Admin Expense | $497,633 |
| Net Contributions | $1,898,492 |
| Grants | $479,284 |
| Ending Balance | $19,457,226 |
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 |
Greater Cedar Rapids Community Foundation Cedar Rapids, IA | $223,368,352 | $26,493,454 |
3m Open Fund Blaine, MN | $2,792,523 | $13,492,516 |
Fargo-Moorhead Area Foundation Corporation Fargo, ND | $123,601,833 | $30,025,035 |
Wyoming Community Foundation Laramie, WY | $214,898,852 | $21,534,093 |
Whitefish Community Foundation Inc Whitefish, MT | $55,891,446 | $19,214,103 |
Community Foundation Of Greater Dubuque Dubuque, IA | $145,486,240 | $37,640,315 |
Yellowstone Club Community Foundaction Bozeman, MT | $7,118,258 | $8,242,753 |
Community Foundation Of Northeast Iowa Cedar Falls, IA | $163,015,524 | $24,241,546 |
West Central Initiative Fergus Falls, MN | $80,928,029 | $10,157,757 |
Montana Community Foundation Inc Helena, MT | $124,041,175 | $24,837,343 |