Watts Family Foundation
- Assets
- $884.6k
- Revenue
- $82.9k
- Investments
- $875.3k
- Employees
- 0
- Location
- Rochester, MN
- Founding
- 12/2002
- Data as of
- 12/2023
- EIN
- 71-0882769
Organization Overview
Watts Family Foundation is located in Rochester, MN. The organization was established in 2002. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Watts Family 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 12/2023, Watts Family Foundation generated $82.9k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $91.3k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Watts Family Foundation has awarded 151 individual grants totaling $622,439. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Allan Watts Vice President | 10 | $0 | |
Julie Watts President | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $59,500 |
| Interest on Savings | $15 |
| Dividends & Interest | $18,338 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,032 |
| Capital Gain Net Income | $5,032 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $82,885 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $500 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $9,640 |
| Contributions, gifts, grants paid | $81,697 |
| Total expenses and disbursements | $91,337 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,355 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $875,290 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $884,645 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Watts Family Foundation has awarded $81,697 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN HELPER PURPOSE: GENERAL SUPPORT | $3,600 |
CAMP VICTORY PURPOSE: GENERAL SUPPORT | $1,000 |
CAMPUS CRUSADE FOR CHRIST PURPOSE: GENERAL SUPPORT | $7,660 |
FATHERS FOR THE FATHERLESS PURPOSE: GENERAL SUPPORT | $1,700 |
FELLOWSHIP OF CHRISTIAN ATHLETES PURPOSE: GENERAL SUPPORT | $11,200 |
POSSABILITIES PURPOSE: GENERAL SUPPORT | $1,000 |