Waterstone Support Foundation Inc
- Assets
- $127.1m
- Revenue
- $45.1m
- Investments
- $54.9m
- Employees
- 0
- Location
- Colorado Springs, CO
- Founding
- 02/1998
- Data as of
- 03/2022
- EIN
- 84-1430063
Organization Overview
Waterstone Support Foundation Inc is located in Colorado Springs, CO. The organization was established in 1998. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, 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. Waterstone Support Foundation Inc 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 03/2022, Waterstone Support Foundation Inc generated $45.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.4% each year . All expenses for the organization totaled $42.3m during the year ending 03/2022. While expenses have increased by 18.9% 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, Waterstone Support Foundation Inc has awarded 73 individual grants totaling $77,822,219. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTS THE CHARITABLE & RELIGIOUS PURPOSES OF CCF DBA WATERSTONE & NATIONAL FOUNDATION INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION IS ORGANIZED AND IS OPERATED AS A SUPPORTING ORGANIZATION FOR THE SUPPORT AND FURTHERANCE OF THE RELIGIOUS, CHARITABLE, AND EDUCATIONAL TAX-EXEMPT PURPOSES OF CHRISTIAN COMMUNITY FOUNDATION (CCF) AND NATIONAL FOUNDATION INC. THE FOUNDATION RAISES AND DISTRIBUTES FUNDS TO VARIOUS ORGANIZATIONS QUALIFYING UNDER SECTION 501(C)(3) AND ADMINISTERS AND SUPPORTS A VARIETY OF CHARITABLE AND EDUCATIONAL PROJECTS AND MINISTRY CHARITY PROJECTS IN PURSUIT OF ITS EXEMPT PURPOSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth R Harrison Chief Executive Officer | OfficerTrustee | 1 | $0 |
John Mulder President | OfficerTrustee | 1 | $0 |
Doug H Kiesewetter Jr Chairman | OfficerTrustee | 1 | $0 |
Richard Lavinski Vice President/secretary | OfficerTrustee | 1 | $0 |
Ruthann Witkop Assistant Secretary | Officer | 1 | $0 |
Chris Start Treasurer | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Christian Community Foundation Management Services | 3/30/16 | $1,012,592 |
Hamann Property Management Inc Real Estate Management | 3/30/16 | $167,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $232,902 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $24,453,985 |
| Noncash contributions included in lines 1a–1f | $23,539,894 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $24,686,887 |
| Total Program Service Revenue | $17,758,657 |
| Investment income | $1,845,797 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $483,239 |
| Net Gain/Loss on Asset Sales | $355,153 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,122,757 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,475,734 |
| Grants and other assistance to domestic individuals. | $207,482 |
| Grants and other assistance to Foreign Orgs/Individuals | $370,814 |
| 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 | $213 |
| Fees for services: Accounting | $5,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $322,511 |
| Fees for services: Other | $4,252,757 |
| Advertising and promotion | $2,088 |
| Office expenses | $15,081 |
| Information technology | $9,257 |
| Royalties | $0 |
| Occupancy | $53,470 |
| 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 | $456,806 |
| Insurance | $33,250 |
| All other expenses | $0 |
| Total functional expenses | $42,339,631 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,627,073 |
| 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 | $1,149,210 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $253,840 |
| Net Land, buildings, and equipment | $7,299,743 |
| Investments—publicly traded securities | $49,980,575 |
| Investments—other securities | $54,945,540 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,847,346 |
| Total assets | $127,103,327 |
| Accounts payable and accrued expenses | $32,648 |
| Grants payable | $0 |
| 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 | $70,125,635 |
| Total liabilities | $70,158,283 |
| Net assets without donor restrictions | $51,635,964 |
| Net assets with donor restrictions | $5,309,080 |
| 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 | $127,103,327 |
Grants Awarded
Over the last fiscal year, Waterstone Support Foundation Inc has awarded $25,423,623 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
Colorado Springs, CO PURPOSE: GENERAL SUPPORT | $22,878,937 |
PREGNANCY CARE CLINIC PURPOSE: GENERAL SUPPORT | $1,950,000 |
Rocklin, CA PURPOSE: GENERAL SUPPORT | $177,337 |
Edmond, OK PURPOSE: GENERAL SUPPORT | $161,344 |
ROSS DILLON SPECIAL NEEDS TRUST PURPOSE: MINISTRY SUPPORT | $150,000 |
PROFESSIONAL CHRISTIAN COUNSELING SERVICES PURPOSE: MINISTRY SUPPORT | $70,549 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Waterstone Support Foundation Inc has recieved totaling $23,400,553.
| Awarding Organization | Amount |
|---|---|
Waterstone Support Foundation Inc Colorado Springs, CO PURPOSE: GENERAL SUPPORT | $22,878,937 |
Organization Name not Listed PURPOSE: Transfer of trusteeship for a charitable trust | | $227,014 |
Christian Community Foundation Inc Colorado Springs, CO PURPOSE: GENERAL SUPPORT | $221,071 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $68,250 |
Organization Name not Listed PURPOSE: Relief & Development | | $5,281 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
K State Athletics Inc Manhattan, KS | $295,810,411 | $83,903,998 |
Waterstone Support Foundation Inc Colorado Springs, CO | $127,103,327 | $45,122,757 |
The Madonna Foundation Lincoln, NE | $19,167,597 | $7,128,390 |
1million Project Foundation Overland Park, KS | $8,054,178 | $5,845,168 |
Northeast Kansas Community Action Program Hiawatha, KS | $3,012,533 | $8,873,734 |
Jewish Community Association Of Greater Phoenix Scottsdale, AZ | $31,119,150 | $6,708,831 |
Gibbs Christian Education Foundation Inc Owasso, OK | $5,420,863 | $1,976,079 |
David And Molly Pyott Foundation Avon, CO | $9,634,209 | $3,719,915 |
Schulz Charitable Foundation Inc Scottsdale, AZ | $0 | $32,141 |
Epicpromise Employee Foundation Broomfield, CO | $1,990,176 | $1,259,560 |
Nebraska Cultural Endowment Omaha, NE | $17,664,926 | $5,027,006 |
Warrior Rising South Jordan, UT | $428,862 | $1,557,370 |