Watertown Area Community Foundation: Nonprofit Profile, Financials & Form 990 (EIN 39-1708484)

Revenue by fiscal year
FY2020	$6.0M
FY2021	$3.5M
FY2022	$2.1M
FY2023	$1.9M
FY2024	$4.1M
FY2025	$2.5M

Expenses by fiscal year
FY2020	$2.9M
FY2021	$2.5M
FY2022	$887K
FY2023	$569K
FY2024	$727K
FY2025	$821K

Net assets by fiscal year
FY2020	$8.8M
FY2021	$11.3M
FY2022	$9.6M
FY2023	$11.3M
FY2024	$12.7M
FY2025	$13.6M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1992.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

85 cents of each dollar spent went to programs.

85%

15%

Program services 85% · $702K Management & general 15% · $120K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Tom Schultz

President

$0Pt VII · Sec A

Bill Oswald

Vice President

$0Pt VII · Sec A

Mike Hoppenrath

Treasurer

$0Pt VII · Sec A

Sue Rhodes

Secretary

$0Pt VII · Sec A

Susanne Bradow

Director

$0Pt VII · Sec A

Sandra Budewitz

Director

$0Pt VII · Sec A

Amy Buchholtz

Director

$0Pt VII · Sec A

Kevin Clifford

Director

$0Pt VII · Sec A

See Watertown Area Community Foundation executive salaries →

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 15aNo

Programs and updates

Improves Watertown, Wisconsin and surrounding areas, enhancing residents' quality of life.

Questions for Watertown Area Community Foundation

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1 program · $702K · in their own filed words · FY2024

01

Scholarship funding and community projects for the purpose of higher education and community improvement. Funding is awarded based on merit and need.

$702Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2024

Comerica Charitable TrustFY2024$300K

National Philanthropic TrustFY2024$50K

Total grants receivedfrom 2 funders$350K

Grants paid · 15 grants · $5.3M · 2019–2024

Unitemized GrantFY2024$407,444

Watertown Historical SocietyWI · FY2024$243,323

Glacial Community YMCA INCWI · FY2024$50,000

Unitemized GrantFY2023$522,808

Glacial Community YMCA INCWI · FY2023$50,000

City of WatertownFY2023$7,000

Watertown Historical SocietyWI · FY2023$6,700

Unitemized GrantFY2022$405,675

City of WatertownFY2022$75,000

Unitemized GrantFY2021$504,750

City of WatertownFY2021$293,327

City of WatertownFY2020$1,905,130

Unitemized GrantFY2020$476,250

Glacial Heritage Development PartnershipWI · FY2020$5,000

Unitemized GrantFY2019$378,792

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$2.5M

Ln 12

Gifts and grantsLn 1h$1.3M

Investment incomeLn 3$1.2M

Money outPt IX

$821K

Ln 25

Programscol B$702K

Managementcol C$120K

Owns and owesPt X

$13.6M

net assets · Ln 32

Cash and savingsLn 1–2$413K

Total assetsLn 16$16.0M

LiabilitiesLn 26$2.5M

PeoplePt VI, VII

10

listed · VII A

PaidVII A0

Voting boardVI 1a10

IndependentVI 1b10

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$1.3M

Investment incomeLn 3$1.2M

Gains on assetsLn 7$997K

Total revenueLn 12$2.5M

Assets in detailPt X, end of year

CashLn 1$184K

SavingsLn 2$228K

Cash and savings togetherLn 1–2$413K

InvestmentsLn 11–13$15.6M

Total assetsLn 16$16.0M

LiabilitiesLn 26$2.5M

Net assetsLn 32$13.6M

OperationsPt I, VI

EmployeesI 50

VolunteersI 610

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$329K	$413K
InvestmentsLn 11–13	$17.1M	$15.6M
Total assetsLn 16	$17.4M	$16.0M
LiabilitiesLn 26	$4.7M	$2.5M
Net assetsLn 32	$12.7M	$13.6M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$294K	$294K
Grants to domestic individualsLn 2	$407K	$407K
Accounting feesLn 11c	$25K		$25K
Investment management feesLn 11f	$91K		$91K
Other fees for servicesLn 11g	$348		$348
Office expensesLn 13	$963		$963
Information technologyLn 14	$88		$88
InsuranceLn 23	$2K		$2K
Other expenses (24a–d)Ln 24	$16		$16
Total functional expensesLn 25	$821K	$702K	$120K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest ViewingFiled with the IRS May 13, 2026	$2.5M	$821K	$1.7M	$13.6M	990 PDF
FY2024Filed with the IRS May 14, 2025	$4.1M	$727K	$3.4M	$12.7M	990 PDF
FY2023Filed with the IRS May 7, 2024	$1.9M	$569K	$1.4M	$11.3M	990 PDF
FY2022Filed with the IRS May 11, 2023	$2.1M	$887K	$1.2M	$9.6M	990 PDF
FY2021Filed with the IRS Apr 14, 2022	$3.5M	$2.5M	$1.0M	$11.3M	990 PDF
FY2020Filed with the IRS May 14, 2021	$6.0M	$2.9M	$3.1M	$8.8M	990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2025 990 (6 parts)

Part I · Summary $2,540,156 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $3,751,165$1,294,802

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $360,904$1,245,354

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $4,112,069$2,540,156

I-13 Grants and similar amounts paidPrior year $589,508$701,517

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $137,341$119,731

I-18 Total expensesPrior year $726,849$821,248

I-19 Revenue less expensesPrior year $3,385,220$1,718,908

Part VI · Governance 10 of 10 board members independent, 3 to look at

VI-1a Voting members of the governing body10

VI-1b Independent voting members10

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $2,540,156 across 5 lines filed

VIII-1f All other contributions, gifts and grants$1,294,802

VIII-1h Total contributions, gifts and grants$1,294,802

VIII-3 Investment incomeExcluded from tax $248,003$248,003

VIII-7 Net gain or loss on sales of assetsExcluded from tax $997,351$997,351

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,245,354$2,540,156

Part IX · Statement of functional expenses $821,248 across 9 lines filed

IX-1 Grants to domestic organizationsPrograms $294,073$294,073

IX-2 Grants to domestic individualsPrograms $407,444$407,444

IX-11c Accounting feesManagement $25,320$25,320

IX-11f Investment management feesManagement $91,183$91,183

IX-11g Other fees for servicesManagement $348$348

IX-13 Office expensesManagement $963$963

IX-14 Information technologyManagement $88$88

IX-23 InsuranceManagement $1,813$1,813

IX-24 Other expenses (24a–d)Management $16$16

IX-25 Total functional expensesPrograms $701,517 · Management $119,731 · Fundraising $0$821,248

Part X · Balance sheet $16,034,101 assets, 11 lines filed

X-1 Cash, non-interest-bearingStart of year $168,288$184,299

X-2 Savings and temporary cash investmentsStart of year $160,445$228,283

X-11 Publicly traded securitiesStart of year $17,069,035$15,621,519

X-16 Total assetsStart of year $17,397,768$16,034,101

X-18 Grants payableStart of year $1,157,749$1,287,475

X-25 Other liabilitiesStart of year $3,586,184$1,184,107

X-26 Total liabilitiesStart of year $4,743,933$2,471,582

X-27 Net assets without donor restrictionsStart of year $772,705$156,893

X-28 Net assets with donor restrictionsStart of year $11,881,130$13,405,626

X-32 Total net assets or fund balancesStart of year $12,653,835$13,562,519

X-33 Total liabilities and net assetsStart of year $17,397,768$16,034,101

Part XI · Reconciliation of net assets $13,562,519 net assets at year end

XI-1 Total revenue$2,540,156

XI-2 Total expenses$821,248

XI-3 Revenue less expenses$1,718,908

XI-4 Net assets at start of year$12,653,835

XI-5 Net unrealized gains (losses) on investments$299,776

XI-9 Other changes in net assets−$1,110,000

XI-10 Net assets at end of year$13,562,519

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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Watertown Area Community Foundation

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Watertown Area Community Foundation

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV