Watts Family Foundation
- Assets
- $3.8m
- Revenue
- $554.5k
- Investments
- $1.8m
- Employees
- 0
- Location
- Coralville, IA
- Founding
- 12/2016
- Data as of
- 12/2023
- EIN
- 81-2552110
Organization Overview
Watts Family Foundation is located in Coralville, IA. The organization was established in 2016. 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 $554.5k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $298.0k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Watts Family Foundation has awarded 26 individual grants totaling $574,306. 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 |
|---|---|---|---|
Gary Watts Director | 1 | $0 | |
Becky Watts Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $249,340 |
| Interest on Savings | $0 |
| Dividends & Interest | $25,147 |
| Net Rental Income | $90,006 |
| Net Gain on Sale of Assets | $90,944 |
| Capital Gain Net Income | $90,944 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $554,525 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $42,371 |
| Depreciation | $23,509 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $39,208 |
| Total operating and administrative expenses | $113,677 |
| Contributions, gifts, grants paid | $184,306 |
| Total expenses and disbursements | $297,983 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $59,104 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $164 |
| 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 | $1,941,790 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,774,798 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,775,856 |
| Accounts payable and accrued expenses | $838 |
| 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 | $13,955 |
| Total liabilities | $14,793 |
Grants Awarded
Over the last fiscal year, Watts Family Foundation has awarded $184,306 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
ARENACO PURPOSE: FOR UNRESTRICTED USE BY RECIPIENT | $100,000 |
DEAFINITELY DOGS PURPOSE: FOR UNRESTRICTED USE BY RECIPIENT | $20,000 |
UNIVERSITY OF NORTHERN IOWA FOUNDATION PURPOSE: FOR UNRESTRICTED USE BY RECIPIENT | $6,000 |
SHELTER HOUSE PURPOSE: FOR UNRESTRICTED USE BY RECIPIENT | $2,306 |
EASTERN IOWA FCA PURPOSE: FOR UNRESTRICTED USE BY RECIPIENT | $10,000 |
IOWA CITY SCHOOL FOUNDATION PURPOSE: FOR UNRESTRICTED USE BY RECIPIENT | $1,000 |