Nonprofit · EIN 51-0202349
WATERFORD INSTITUTE INC
Tax-exempt · TAYLORSVILLE, UT 84123
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| August 31, 2025 | 990 | $48,299,857 | $49,602,326 | -$1,302,469 | $42,686,168 | $31,107,244 | $11,578,924 |
| August 31, 2024 | 990 | $46,196,729 | $59,361,779 | -$13,165,050 | $52,688,300 | $39,698,643 | $12,989,657 |
| August 31, 2023 | 990 | $73,532,657 | $60,437,827 | $13,094,830 | $72,458,924 | $46,222,101 | $26,236,823 |
Financial details: 990 for the year ended August 31, 2025
Revenue
- Contributions, gifts and grants
- $6,239,848
- of which government grants
- $3,408,500
- Program service revenue
- $41,141,896
- Investment income
- $908,219
- Other revenue
- $9,894
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $5,285,058
- Other salaries and wages
- $22,955,600
- Salaries, compensation and benefits (total)
- $33,682,795
- Professional fundraising fees
- $0
- Legal fees
- $103,621
- Accounting fees
- $232,432
- Occupancy
- $545,515
- Travel
- $1,416,416
- Depreciation
- $360,291
- Program services (functional)
- $43,645,255
- Management and general (functional)
- $5,581,965
- Fundraising (functional)
- $375,106
Balance sheet and other
- Total assets, start of year
- $52,688,300
- Total assets, end of year
- $42,686,168
- Total liabilities, end of year
- $31,107,244
- Net assets, end of year
- $11,578,924
- Land, buildings and equipment
- $1,102,718
- Net assets without donor restrictions
- $9,514,240
- Net assets with donor restrictions
- $2,064,684
- Gross receipts
- $48,299,857
- Employees
- 296
- Volunteers
- 0
- Year formed
- 1976
- State of legal domicile
- UT
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended August 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DAVID MYERS | CEO CHIEF EXECUTIVE OFFICER Former | 40 | $428,662 | $12,597 |
| SHERI BLACK | VICE PRESIDENT OF SCHOOL RELATIONS Former | 40 | $358,079 | $24,627 |
| MICHAEL HIGHT | CHIEF TECHNOLOGY OFFICER Former | 40 | $327,224 | $37,915 |
| SCOTT WOOD | SVP OF TECHNOLOGY Officer | 40 | $311,726 | $37,177 |
| JODI SOHRT | DIRECTOR OF SCHOOL RELATIONS Highest-paid employee | 40 | $312,500 | $33,166 |
| THOMAS NESS | CHIEF FINANCIAL OFFICER Former | 40 | $289,332 | $35,493 |
| EDWARD HEUSTON | EXECUTIVE DIRECTOR & CO-FO Former | 40 | $280,423 | $30,382 |
| CLAUDIA MINER | EXECUTIVE DIRECTOR & CO-FO Former | 40 | $283,189 | $18,436 |
| CLARK BEAL | SVP SCHOOL RELATIONS Highest-paid employee | 40 | $259,995 | $32,851 |
| MATT HILL | CEO CHIEF EXECUTIVE OFFICER Officer | 40 | $261,521 | $25,422 |
| REBECCA KELLEY | CHIEF OF ADVOCACY AND COMM Former | 40 | $244,543 | $12,257 |
| JAMES LUND | SENIOR VICE PRESIDENT - UTAH UPSTART Highest-paid employee | 40 | $219,224 | $30,972 |
| LEAH WALKER | EVP, EQUITY AND INCLUSION Former | 40 | $215,361 | $32,510 |
| VICKIE ROSS | VICE PRESIDENT OF SOLUTIONS CONSULTING Former | 40 | $220,326 | $18,576 |
| LORI PUGH | CHIEF PEOPLE OFFICER Officer | 40 | $218,331 | $18,415 |
11 more people on this return
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KERNARD JONES | SENIOR VICE PRESIDENT- GOVERNMENT RELATIONS Highest-paid employee | 40 | $213,158 | $23,465 |
| KATHY LANDON | CHIEF OPERATING OFFICER Highest-paid employee | 40 | $224,156 | $10,771 |
| JENNI TORRES | EXECUTIVE VP & CHIEF ACADE Former | 40 | $220,332 | $7,353 |
| MATTHEW ORLINS | SENIOR VICE PRESIDENT- GOVERNMENT RELATIONS Former | 40 | $215,573 | $10,704 |
| ERNEST BLACKWELL | BOARD CHAIR Trustee or director | 2 | $0 | $0 |
| ALLISON GUSHEE MOLKENTHIN | BOARD MEMBER Trustee or director | 5 | $0 | $0 |
| WAYNE YSAGUIRRE | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| STEPHANIE MONROE | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| MATT GRIMES | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| JACK RYAN | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| CHRIS LEE | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
990 for the year ended August 31, 2024: 25 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DAVID MYERS | CEO CHIEF EXECUTIVE OFFICER Former | 40 | $590,536 | $37,125 |
| JODI SOHRT | DIRECTOR OF SCHOOL RELATIONS Highest-paid employee | 40 | $359,008 | $22,500 |
| SHERI BLACK | VICE PRESIDENT OF SCHOOL RELATIONS Former | 40 | $345,215 | $31,210 |
| EDWARD HEUSTON | EXECUTIVE DIRECTOR Highest-paid employee | 40 | $348,787 | $24,586 |
| THOMAS NESS | CHIEF FINANCIAL OFFICER Officer | 40 | $272,903 | $36,300 |
| CLAUDIA MINER | EXECUTIVE DIRECTOR & CO-FOUNDER OF UPSTART Key employee | 40 | $270,967 | $24,718 |
| DANIEL NEWBOLD | DIRECTOR OF SCHOOL RELATIONS Highest-paid employee | 40 | $275,278 | $7,200 |
| CLARK BEAL | SVP SCHOOL RELATIONS Key employee | 40 | $252,436 | $29,250 |
| REBECCA KELLEY | CHIEF OF ADVOCACY AND COMMUNITY ENGAGEMENT Officer | 40 | $236,633 | $19,546 |
| KATHY LANDON | CHIEF OPERATING OFFICER Officer | 40 | $217,401 | $29,290 |
| BRECK NIELSEN | DIRECTOR OF SCHOOL RELATIONS Highest-paid employee | 40 | $235,889 | $4,951 |
| LEAH WALKER | EVP, EQUITY AND INCLUSION Highest-paid employee | 40 | $216,627 | $22,866 |
| LORI PUGH | CHIEF PEOPLE OFFICER Officer | 40 | $217,655 | $16,872 |
| MICHAEL HIGHT | CHIEF TECHNOLOGY OFFICER Officer | 40 | $217,008 | $16,317 |
| KIM FISCHER | VICE PRESIDENT, MARKETING Key employee | 40 | $190,836 | $30,250 |
| JENNI TORRES | EXECUTIVE VP & CHIEF ACADEMIC OFFICER Officer | 40 | $191,564 | $22,500 |
| JAMES LUND | EVP, PROGRAM SUCCESS Key employee | 40 | $186,056 | $13,275 |
| MICHAEL HUDSON | VP, IT & SECURITY Key employee | 40 | $175,470 | $8,992 |
| ERNEST BLACKWELL | BOARD CHAIR Trustee or director | 2 | $0 | $0 |
| ALLISON GUSHEE MOLKENTHIN | BOARD MEMBER Trustee or director | 5 | $0 | $0 |
| JAMES HOLBROOK | BOARD MEMBER, SECRETARY, TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| WAYNE YSAGUIRRE | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| STEPHANIE MONROE | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| MATT GRIMES | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| JACK RYAN | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
990 for the year ended August 31, 2023: 28 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DAVID ANDREW MYERS | CEO CHIEF EXECUTIVE OFFICER Officer | 40 | $414,107 | $46,077 |
| WINDY ROSEMEYER | DIRECTOR SCHOOL RELATIONS Highest-paid employee | 40 | $335,168 | $39,578 |
| EDWARD BENJAMIN HEUSTON | EXECUTIVE DIRECTOR Highest-paid employee | 40 | $337,721 | $36,512 |
| JODI SOHRT | DIRECTOR SCHOOL RELATIONS Highest-paid employee | 40 | $317,761 | $39,578 |
| SHERI BLACK | VP OF SCHOOL RELATIONS Highest-paid employee | 40 | $314,886 | $34,404 |
| CHRISTOPHER STEVENSON | EXECUTIVE VICE PRESIDENT OF SCHOOL RELATIONS Former | 40 | $260,714 | $46,078 |
| THOMAS NESS | CHIEF FINANCIAL OFFICER Officer | 40 | $258,325 | $39,017 |
| CLAUDIA MINER | EXECUTIVE DIRECTOR & CO-FOUNDER OF UPSTART Key employee | 40 | $271,313 | $20,844 |
| DANIEL NEWBOLD | SENIOR DIRECTOR OF SCHOOL RELATIONS Highest-paid employee | 40 | $260,299 | $31,244 |
| CLARK H BEAL | INTERIM SVP SCHOOL RELATIONS Highest-paid employee | 40 | $226,484 | $35,175 |
| RICHARD STOMBRES | SENIOR VICE PRESIDENT- GOVERNMENT RELATIONS Former | 40 | $217,674 | $29,940 |
| MICHAEL HIGHT | CHIEF TECHNOLOGY OFFICER Officer | 40 | $209,775 | $29,832 |
| KATHY LANDON | CHIEF OPERATING OFFICER Officer | 40 | $212,930 | $19,909 |
| BRECK NIELSEN | DIRECTOR SCHOOL RELATIONS Key employee | 40 | $204,543 | $26,746 |
| LORI PUGH | CHIEF PEOPLE OFFICER Officer | 40 | $205,163 | $22,217 |
| LEAH DOZIER WALKER | EVP, EQUITY AND INCLUSION Highest-paid employee | 40 | $197,978 | $29,365 |
| DONIQUE CHANEL NOBLES MUHAMMAD | SENIOR VICE PRESIDENT OF OUTREACH Former | 40 | $216,427 | $10,788 |
| BRANDON SMITH | DIRECTOR SCHOOL RELATIONS Former | 40 | $192,993 | $24,806 |
| SCOTT WOOD | SVP OF TECHNOLOGY Key employee | 40 | $186,976 | $30,657 |
| ROB HAWKS | DIRECTOR SCHOOL RELATIONS Highest-paid employee | 40 | $175,677 | $32,018 |
| ALLISON GUSHEE MOLKENTHIN | BOARD CHAIR Trustee or director | 5 | $0 | $0 |
| JAMES HOLBROOK | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| TODD CRANNEY | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| WAYNE YSAGUIRRE | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| ANN CHRISTENSEN | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| STEPHANIE MONROE | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| ERNEST BLACKWELL | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| MATT GRIMES | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 4246 S RIVERBOAT RD STE 150, TAYLORSVILLE, UT 84123-2701
- Signed the 990
- JORGE FERNANDEZ, CFO
- Phone
- (801) 576-4900
- Return prepared by
- TANNER LLP
Mission
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.
Program accomplishments
- WATERFORD SUPPORTS NEARLY 200,000 CHILDREN PRE-K - 2ND GRADE ANNUALLY THROUGH ITS HOME-BASED AND PLACE-BASED PROGRAMS (UPSTART AND WATERFORD EARLY LEARNING) THAT TEACH STUDENTS FOUNDATIONAL EARLY LEARNING SKILLS IN READING, MATH, AND SCIENCE. WATERFORD HAS STRONG EVIDENCE OF THE IMPACT OF ITS PROGRAMS ON CHILDREN'S LEARNING OUTCOMES WHEN IMPLEMENTED WITH FIDELITY, AS DEMONSTRATED VIA MULTIPLE ESSA TIER 1 RESEARCH STUDIES USING WATERFORD PROGRAMS. ON AVERAGE, STUDENTS ADVANCE A FULL YEAR OR MORE BEYOND EXPECTED GROWTH, AND THOSE GAINS CONTINUE TO BENEFIT THEM IN THE LONG TERM.Expenses $43,645,255 · revenue $41,151,790
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in August, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | August 31, 2026 | January 15, 2027 | Not due yet |
| 2024 | August 31, 2025 | January 15, 2026 | 990 on file |
| 2023 | August 31, 2024 | January 15, 2025 | 990 on file |
IRS record
- EIN
- 51-0202349
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1976
- Accounting year ends
- August
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Science and technology (U410)
- Assets (IRS master file)
- $42,686,168
- Income (IRS master file)
- $48,299,857
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | August 2025 | $48,299,857 | $49,602,326 | $42,686,168 | XML |
| 990 | August 2024 | $46,196,729 | $59,361,779 | $52,688,300 | XML |
| 990 | August 2023 | $73,532,657 | $60,437,827 | $72,458,924 | XML |
| 990 | August 2022 | $59,028,188 | $57,748,598 | $68,734,767 | IRS |
| 990 | August 2021 | – | – | – | IRS |
| 990 | August 2020 | – | – | – | IRS |
| 990 | August 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 51-0202349).
Questions about WATERFORD INSTITUTE INC
- What is the EIN of WATERFORD INSTITUTE INC?
- The employer identification number (EIN) of WATERFORD INSTITUTE INC is 51-0202349.
- Is WATERFORD INSTITUTE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1976.
- Are donations to WATERFORD INSTITUTE INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does WATERFORD INSTITUTE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of WATERFORD INSTITUTE INC due?
- The return for tax year 2025 (the year ending August 31, 2026) is due January 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WATERFORD INSTITUTE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended August 2025.
- Who are the officers and directors of WATERFORD INSTITUTE INC?
- The 990 for the year ended August 31, 2025 lists 26 people; 19 received compensation from the organization, the highest $428,662 (DAVID MYERS, CEO CHIEF EXECUTIVE OFFICER).
- How much revenue does WATERFORD INSTITUTE INC have?
- On its 990 for the year ended August 31, 2025 it reported revenue of $48,299,857, expenses of $49,602,326 and total assets of $42,686,168 at year end.
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