WATERFORD INSTITUTE INC Charity Report

Public IRS 990 nonprofit record

WATERFORD INSTITUTE INC

EIN 51-0202349 · Science & Technology (U410)

What they do

WATERFORD PROVIDES PRE-K THROUGH 2ND-GRADE READING, MATH, and SCIENCE PROGRAMS THAT CHILDREN CAN USE WHEREVER THEY LEARN. OUR PROGRAMS HELP CHILDREN REACH CRITICAL MILESTONES BY THE 3RD GRADE, LAYING THE FOUNDATION for THEIR FUTURE SUCCESS.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $88.00 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders26 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

90.36%of revenue went to mission work88.0% of expenses · Program services

0.78%of revenue went to fundraising0.8% of expenses

$102.70spent for every $100 of revenueSpending was higher than revenue this year.

11.56%of revenue went to management and office costs11.3% of expenses

$0.86in assets for every $1 spent this yearSome assets cannot be spent right away.

12.9%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $1,302,469 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $441,259 for DAVID MYERS (CEO CHIEF EXECUTIVE OFFICER). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$48,299,857

Mission workProgram services$43,645,25590.36% of revenue88.0% of expenses

ManagementOffice and general costs$5,581,96511.56% of revenue11.3% of expenses

FundraisingAsking for donations$375,1060.78% of revenue0.8% of expenses

Total expenses$49,602,326102.70% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 88.0% mission · 11.3% management · 0.8% fundraisingTotal expenses: 102.70% of revenue

2023Expense mix: 89.9% mission · 9.2% management · 0.9% fundraisingTotal expenses: 128.50% of revenue

2022Expense mix: 90.1% mission · 9.1% management · 0.8% fundraisingTotal expenses: 82.19% of revenue

2021Expense mix: 90.5% mission · 8.7% management · 0.8% fundraisingTotal expenses: 97.83% of revenue

2020Expense mix: 90.9% mission · 8.2% management · 0.9% fundraisingTotal expenses: 81.63% of revenue

2019Expense mix: 91.5% mission · 7.8% management · 0.7% fundraisingTotal expenses: 84.18% of revenue

2018Expense mix: 91.5% mission · 7.5% management · 1.0% fundraisingTotal expenses: 97.39% of revenue

2017Expense mix: 91.1% mission · 7.5% management · 1.4% fundraisingTotal expenses: 95.88% of revenue

Money in and money out

Revenue$48,299,857

Expenses$49,602,326

Annual shortfall $1,302,469 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$43,645,255 · 88.0% of expenses

Management and office costs$5,581,965 · 11.3% of expenses

Fundraising$375,106 · 0.8% of expenses

See all reported dollar amounts

Revenue$48,299,857

Expenses$49,602,326

Assets$42,686,168

Income$48,299,857

Contributions$6,239,848

Mission work (program services)$43,645,255

Fundraising$375,106

Management and general$5,581,965

Accounting fees$232,432

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

DAVID MYERSCEO CHIEF EXECUTIVE OFFICER · 40 hrs/week $441,259Base $428,662 · Other $12,597

SHERI BLACKVICE PRESIDENT OF SCHOOL RELATIONS · 40 hrs/week $382,706Base $358,079 · Other $24,627

MICHAEL HIGHTCHIEF TECHNOLOGY OFFICER · 40 hrs/week $365,139Base $327,224 · Other $37,915

SCOTT WOODSVP OF TECHNOLOGY · 40 hrs/week $348,903Base $311,726 · Other $37,177

JODI SOHRTDIRECTOR OF SCHOOL RELATIONS · 40 hrs/week $345,666Base $312,500 · Other $33,166

THOMAS NESSCHIEF FINANCIAL OFFICER · 40 hrs/week $324,825Base $289,332 · Other $35,493

EDWARD HEUSTONEXECUTIVE DIRECTOR & CO-FO · 40 hrs/week $310,805Base $280,423 · Other $30,382

CLAUDIA MINEREXECUTIVE DIRECTOR & CO-FO · 40 hrs/week $301,625Base $283,189 · Other $18,436

CLARK BEALSVP SCHOOL RELATIONS · 40 hrs/week $292,846Base $259,995 · Other $32,851

MATT HILLCEO CHIEF EXECUTIVE OFFICER · 40 hrs/week $286,943Base $261,521 · Other $25,422

REBECCA KELLEYCHIEF OF ADVOCACY AND COMM · 40 hrs/week $256,800Base $244,543 · Other $12,257

JAMES LUNDSENIOR VICE PRESIDENT - UTAH UPSTART · 40 hrs/week $250,196Base $219,224 · Other $30,972

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (26)

DAVID MYERSCEO CHIEF EXECUTIVE OFFICER

SHERI BLACKVICE PRESIDENT OF SCHOOL RELATIONS

MICHAEL HIGHTCHIEF TECHNOLOGY OFFICER

SCOTT WOODSVP OF TECHNOLOGY

JODI SOHRTDIRECTOR OF SCHOOL RELATIONS

THOMAS NESSCHIEF FINANCIAL OFFICER

EDWARD HEUSTONEXECUTIVE DIRECTOR & CO-FO

CLAUDIA MINEREXECUTIVE DIRECTOR & CO-FO

CLARK BEALSVP SCHOOL RELATIONS

MATT HILLCEO CHIEF EXECUTIVE OFFICER

REBECCA KELLEYCHIEF OF ADVOCACY AND COMM

JAMES LUNDSENIOR VICE PRESIDENT - UTAH UPSTART

LEAH WALKEREVP, EQUITY AND INCLUSION

VICKIE ROSSVICE PRESIDENT OF SOLUTIONS CONSULTING

LORI PUGHCHIEF PEOPLE OFFICER

KERNARD JONESSENIOR VICE PRESIDENT- GOVERNMENT RELATIONS

KATHY LANDONCHIEF OPERATING OFFICER

JENNI TORRESEXECUTIVE VP & CHIEF ACADE

MATTHEW ORLINSSENIOR VICE PRESIDENT- GOVERNMENT RELATIONS

STEPHANIE MONROEBOARD MEMBER

WAYNE YSAGUIRREBOARD MEMBER

ALLISON GUSHEE MOLKENTHINBOARD MEMBER

MATT GRIMESBOARD MEMBER

JACK RYANBOARD MEMBER

ERNEST BLACKWELLBOARD CHAIR

CHRIS LEEBOARD MEMBER

About this charity

Recognized since: January 1976
Location: 4246 S RIVERBOAT RD STE 150, TAYLORSVILLE, UT 84123-2701
County: Salt Lake
In care of: JORGE FERNANDEZ
Primary officer: JORGE FERNANDEZ, CFO

How to reach them

Phone(801) 576-4900

Filing and classification

Latest tax year: 2024
Tax period began: September 1, 2024
Return type: 990
Tax preparer: TANNER LLP
NTEE classification: Science & Technology (U410)