Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 2007.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
74 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
13 people listed on the 990; $1.4M paid to officers and key staff.
Leslie Fall MD’s $299K as Chief Executive Officer is at the 95th percentile of top reported officer pay among 3394 $1–10M 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 |
|---|---|---|---|---|---|
| Leslie Fall MD | $299,212 | $288,040 | $283,098 | $283,198 | $281,984 |
| Emily Stewart | — | $242,371 | — | — | — |
| Emily Stewart MD | $237,359 | — | — | — | — |
| Vimal Bhatnagar | $178,157 | — | — | — | — |
| Eileen Olszewski | — | $161,672 | $156,962 | $156,962 | $161,504 |
| Craig Davis | $161,050 | $153,131 | $159,354 | $159,354 | $152,232 |
| Roberto Nicolalde Flores | — | — | — | $158,954 | $154,232 |
| Stephanie Dewitt | $153,413 | $146,424 | $140,701 | — | — |
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
Programs and updates
Develops and researches innovative computer programs to advance medical education.
Questions for Aquifer INC
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Aquifer is a non profit organization delivering virtual patient cases and assessment tools designed by the nation's leading medical educators to help students acquire much needed critical reasoning, diagnostic and communication skills. Continued on schedule o
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $9.1M | $10.4M |
| InvestmentsLn 11–13 | $798K | $855K |
| Land, buildings, equipmentLn 10c | $13K | $9K |
| Total assetsLn 16 | $15.0M | $14.7M |
| LiabilitiesLn 26 | $8.9M | $7.9M |
| Net assetsLn 32 | $6.1M | $6.8M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $95K | $95K | ||
| Pay of current officers, directors and key staffLn 5 | $881K | $546K | $336K | |
| Other salaries and wagesLn 7 | $2.8M | $2.2M | $435K | $196K |
| Pension plan contributionsLn 8 | $107K | $83K | $16K | $7K |
| Other employee benefitsLn 9 | $712K | $554K | $113K | $45K |
| Payroll taxesLn 10 | $223K | $172K | $36K | $15K |
| Legal feesLn 11b | $19K | $19K | ||
| Accounting feesLn 11c | $60K | $60K | ||
| Other fees for servicesLn 11g | $802K | $558K | $83K | $161K |
| Advertising and promotionLn 12 | $70K | $70K | ||
| Office expensesLn 13 | $45K | $29K | $13K | $3K |
| Information technologyLn 14 | $937K | $841K | $57K | $38K |
| OccupancyLn 16 | $95K | $68K | $19K | $8K |
| TravelLn 17 | $438K | $263K | $71K | $103K |
| InterestLn 20 | $10K | $10K | ||
| Depreciation, depletion and amortizationLn 22 | $211K | $209K | $2K | |
| InsuranceLn 23 | $37K | $37K | ||
| Total functional expensesLn 25 | $7.6M | $5.6M | $1.3M | $646K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $8.2M | $7.6M | $596K | $6.8M | 990 PDF |
| FY2024 | $8.4M | $7.4M | $935K | $6.1M | 990 PDF |
| FY2023 | $7.5M | $7.3M | $165K | $5.2M | 990 PDF |
| FY2022 | $7.2M | $6.7M | $565K | $5.0M | 990 PDF |
| FY2021 | $7.4M | $5.6M | $1.8M | $4.5M | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $8,159,979 revenue, 12 lines filed
Part VI · Governance 5 of 5 board members independent, no flags
Part VIII · Statement of revenue $8,159,979 across 5 lines filed
Part IX · Statement of functional expenses $7,563,951 across 17 lines filed
Part X · Balance sheet $14,666,466 assets, 17 lines filed
Part XI · Reconciliation of net assets $6,764,880 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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