Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 2002.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
85 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
32 people listed on the 990; $742K paid to officers and key staff.
Joseph Powers’s $369K as Executive Director (thru 6/30/25) is at the 76th percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Duncan Edwards | $233,000 | $233,000 | $200,000 | $308,654 | $383,654 | $271,154 |
| Joseph Powers | $368,544 | $180,004 | — | — | — | — |
| David Olson | — | $132,500 | $225,000 | $112,500 | — | — |
| Jamel Keels | $187,522 | $184,527 | $177,423 | $171,500 | $168,923 | $153,077 |
| Jody a Visage | — | — | — | — | $128,200 | $177,400 |
| Kaitlyn E Winterbottom | — | $152,077 | $132,923 | — | — | — |
| Jonathan Duennebier | $106,279 | — | — | — | — | — |
| Jessica C Chang | $103,909 | $102,883 | — | — | — | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
- Loans to or from officersSch L · Pt II1 listed
Programs and updates
Offers early education to motivated, disadvantaged children.
Questions for Waterside School INC
Your first name shows with your question. Waterside School INC answers here, for everyone.
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To provide an educational program to children in grades kindergarten through fifth grade.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $4.2M | $4.5M |
| InvestmentsLn 11–13 | $43.5M | $46.6M |
| Land, buildings, equipmentLn 10c | $16.5M | $16.2M |
| Total assetsLn 16 | $65.8M | $68.1M |
| LiabilitiesLn 26 | $163K | $266K |
| Net assetsLn 32 | $65.6M | $67.8M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $218K | $218K | ||
| Grants to domestic individualsLn 2 | $3.8M | $3.8M | ||
| Pay of current officers, directors and key staffLn 5 | $435K | $334K | $59K | $42K |
| Other salaries and wagesLn 7 | $2.9M | $2.3M | $398K | $283K |
| Pension plan contributionsLn 8 | $79K | $61K | $11K | $8K |
| Other employee benefitsLn 9 | $204K | $156K | $28K | $20K |
| Payroll taxesLn 10 | $259K | $199K | $35K | $25K |
| Legal feesLn 11b | $7K | $7K | ||
| Accounting feesLn 11c | $108K | $108K | ||
| Investment management feesLn 11f | $181K | $181K | ||
| Other fees for servicesLn 11g | $42K | $42K | ||
| Office expensesLn 13 | $50K | $40K | $7K | $2K |
| Information technologyLn 14 | $44K | $27K | $13K | $4K |
| OccupancyLn 16 | $118K | $118K | ||
| TravelLn 17 | $6K | $6K | ||
| Depreciation, depletion and amortizationLn 22 | $443K | $376K | $66K | |
| InsuranceLn 23 | $71K | $60K | $11K | |
| Other expenses (24a–d)Ln 24 | $972K | $866K | $15K | $91K |
| Total functional expensesLn 25 | $10.0M | $8.6M | $981K | $475K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $10.6M | $10.7M | −$149K | $77.5M | 990 PDF |
| FY2024 | $11.0M | $10.6M | $392K | $73.5M | 990 PDF |
| FY2023 Viewing | $11.3M | $10.0M | $1.3M | $67.8M | 990 PDF |
| FY2022 | $11.8M | $9.0M | $2.8M | $65.6M | 990 PDF |
| FY2021 | $17.8M | $9.0M | $8.8M | $71.0M | 990 PDF |
| FY2020 | $7.0M | $4.7M | $2.2M | $54.7M | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $11,327,132 revenue, 12 lines filed
Part VI · Governance 25 of 28 board members independent, 1 to look at
Part VIII · Statement of revenue $11,327,132 across 7 lines filed
Part IX · Statement of functional expenses $10,025,137 across 18 lines filed
Part X · Balance sheet $68,105,804 assets, 14 lines filed
Part XI · Reconciliation of net assets $67,840,081 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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