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Nonprofiteer
← THE FRESHWATER TRUST

Form 990 for tax year 2024

Filed by THE FRESHWATER TRUST.

Totals

Total revenue
$11,385,865
Total expenses
$10,812,358
Contributions and grants received
$7,597,402
Grants paid
$0
Program service revenue
$3,988,087
Investment income
-$46,981
Other revenue
-$152,643
Total assets, end of year
$8,854,764
Total liabilities, end of year
$6,909,196
Net assets or fund balances, end of year
$1,945,568
Program services expenses (Part IX)
$7,369,688
Management and general expenses
$2,343,693
Fundraising expenses
$1,098,977
Program service expenses (Part III)
$7,369,688

Program services were 68.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $472,059

  • 1e · Government grants (contributions)

    $3,966,902

  • 1f · All other contributions, gifts and grants

    $3,158,441

  • 1g · Noncash contributions included above

    $225,856

  • 2a · Program service revenue: ANALYTICS

    total $2,502,128 · related or exempt $2,502,128

  • 2b · Program service revenue: WATER QUALITY TRADING

    total $1,319,692 · related or exempt $1,319,692

  • 2c · Program service revenue: FLOW

    total $97,160 · related or exempt $97,160

  • 2d · Program service revenue: HABITAT

    total $69,107 · related or exempt $69,107

  • 3 · Investment income

    total $8,669 · excluded $8,669

  • 7a · Gross sales of assets other than inventory

    securities $6,850 · other assets $2,135

  • 7b · Less cost or other basis and sales expenses

    securities $6,146 · other assets $58,489

  • 7c · Gain or loss

    securities $704 · other assets -$56,354

  • 7d · Net gain or loss

    total -$55,650 · excluded -$55,650

  • 8a · Fundraising events: gross income

    $216,900

  • 8a · Fundraising events: contributions included on line 1c

    $472,059

  • 8b · Fundraising events: direct expenses

    $377,679

  • 8c · Net income from fundraising events

    total -$160,779 · excluded -$160,779

  • 9a · Gaming: gross income

    $17,893

  • 9b · Gaming: direct expenses

    $9,757

  • 9c · Net income from gaming

    total $8,136 · excluded $8,136

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,039,424 · program services $512,933 · management and general $512,114 · fundraising $14,377

  • 7 · Other salaries and wages

    total $3,256,409 · program services $2,089,282 · management and general $561,195 · fundraising $605,932

  • 8 · Pension plan contributions

    total $188,443 · program services $118,442 · management and general $35,449 · fundraising $34,552

  • 9 · Other employee benefits

    total $1,082,429 · program services $527,495 · management and general $393,622 · fundraising $161,312

  • 10 · Payroll taxes

    total $388,032 · program services $235,460 · management and general $93,717 · fundraising $58,855

  • 11b · Fees: legal

    total $605 · management and general $605

  • 11c · Fees: accounting

    total $78,781 · management and general $78,781

  • 11d · Fees: lobbying

    total $177,500 · program services $177,500

  • 11f · Fees: investment management

    total $1,722 · management and general $1,722

  • 11g · Fees: other

    total $3,126,919 · program services $3,081,254 · management and general $37,383 · fundraising $8,282

  • 12 · Advertising and promotion

    total $98,184 · management and general $9,340 · fundraising $88,844

  • 13 · Office expenses

    total $86,665 · program services $67 · management and general $68,624 · fundraising $17,974

  • 14 · Information technology

    total $225,503 · program services $1,268 · management and general $207,940 · fundraising $16,295

  • 16 · Occupancy

    total $280,271 · program services $133,930 · management and general $146,191 · fundraising $150

  • 17 · Travel

    total $136,280 · program services $80,314 · management and general $23,278 · fundraising $32,688

  • 19 · Conferences, conventions and meetings

    total $21,770 · program services $2,652 · management and general $8,276 · fundraising $10,842

  • 20 · Interest

    total $52,371 · management and general $52,371

  • 22 · Depreciation, depletion and amortization

    total $59,922 · program services $58,124 · management and general $1,798

  • 23 · Insurance

    total $68,048 · management and general $68,048

  • 24a · Other expenses: PROGRAM SUPPLIES

    total $294,566 · program services $284,216 · management and general $10,350

  • 24b · Other expenses: BUSINESS DEVELOPMENT

    total $59,004 · program services $218 · management and general $16,572 · fundraising $42,214

  • 24c · Other expenses: FEES, TITLES & PERMITS

    total $45,478 · program services $43,188 · management and general $2,270 · fundraising $20

  • 24d · Other expenses: WATER FEES

    total $22,470 · program services $22,470

  • 24e · All other expenses

    total $21,562 · program services $875 · management and general $14,047 · fundraising $6,640

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,813,175 · end of year $2,807,465

  • 2 · Savings and temporary cash investments

    beginning of year $94,551 · end of year $95,268

  • 3 · Pledges and grants receivable

    beginning of year $394,915 · end of year $248,078

  • 4 · Accounts receivable

    beginning of year $2,359,541 · end of year $3,732,582

  • 9 · Prepaid expenses and deferred charges

    beginning of year $110,858 · end of year $98,382

  • 10a · Land, buildings and equipment: cost or other basis

    $191,560

  • 10b · Land, buildings and equipment: accumulated depreciation

    $147,998

  • 10c · Land, buildings and equipment, net

    beginning of year $117,114 · end of year $43,562

  • 12 · Investments: other securities

    beginning of year $166,972 · end of year $177,792

  • 14 · Intangible assets

    beginning of year $886,650 · end of year $1,038,966

  • 15 · Other assets

    beginning of year $880,536 · end of year $612,669

  • 17 · Accounts payable and accrued expenses

    beginning of year $784,529 · end of year $1,484,746

  • 19 · Deferred revenue

    beginning of year $2,853,225 · end of year $3,059,497

  • 24 · Unsecured notes and loans payable

    beginning of year $1,900,000 · end of year $1,894,745

  • 25 · Other liabilities

    beginning of year $815,304 · end of year $470,208

  • 27 · Net assets without donor restrictions

    beginning of year $273,265 · end of year -$198,769

  • 28 · Net assets with donor restrictions

    beginning of year $1,197,989 · end of year $2,144,337

Mission and programs · 2024

Mission

TO PRESERVE AND RESTORE FRESHWATER ECOSYSTEMS.

  • WATER QUALITY TRADING & WATERSHED ANALYTICS - THE FRESHWATER TRUST USES DATA TO IDENTIFY AND ILLUSTRATE THE SPECIFIC ACTION OR ACTIONS NECESSARY TO CHANGE THE TRAJECTORY OF A WATERSHED'S CURRENT CONDITION; USES THAT INSIGHT TO DRIVE THE POLICY CHANGES, FUNDERS, AND SOCIAL BUY-IN NECESSARY TO UNDERSTAND AND IMPLEMENT THAT OPTIMAL PATHWAY; AND THEN DEVELOPS THE OPERATIONAL/SUPPLY CHAIN CAPACITY AND INNOVATIVE CONSERVATION FINANCING APPROACHES NECESSARY TO DEPLOY THOSE SOLUTIONS. WATER QUALITY TRADING IS ONE IMPORTANT APPROACH FOR CONVERTING THIS INSIGHT INTO HIGH QUALITY ON-THE-GROUND RESULTS. THE FRESHWATER TRUST'S WATER QUALITY TRADING PROGRAM ALLOWS FOR REGULATED ENTITIES TO ACHIEVE REGULATORY COMPLIANCE BY FUNDING QUANTIFIED RESTORATION ACTIONS. BY CALCULATING AND QUANTIFYING HOW MUCH THERMAL ENERGY IS AVOIDED ON A RIVER BY PLANTING STREAMSIDE TREES, THE ORGANIZATION GENERATES CREDITS THAT ARE THEN PURCHASED BY WASTEWATER FACILITIES AND POWER PLANTS TO OFFSET THEIR IMPACTS TO IMPAIRED RIVERS AND STREAMS. THE WORK IS DONE IN PARTNERSHIP WITH REGULATED AGENCIES, IRRIGATORS, REGULATORS AND FARMERS. THIS PROGRAM CAN INCLUDE RESTORATION ACTIONS THAT GENERATE NOT ONLY TEMPERATURE CREDITS, BUT ALSO CREDITS GENERATED FROM REDUCTIONS OF OTHER POLLUTANTS, SUCH AS NUTRIENTS.

    Expenses $4,844,682 · Revenue $3,821,820

  • HABITAT - THE FRESHWATER TRUST ACTIVELY RESTORES AQUATIC HABITAT IN THE WESTERN UNITED STATES THROUGH ITS HABITAT RESTORATION PROGRAM. FROM PLACING LOGS INSTREAM TO CREATE RIVER COMPLEXITY AND PLANTING TREES TO STABILIZE STREAMBANKS AND PROVIDE SHADE TO LOWER WATER TEMPERATURE, THE ORGANIZATION ADVANCES SCIENCE-BASED, ECOLOGICALLY-SOUND RESTORATION PROJECTS TO RESTORE HABITAT FUNCTION CRITICAL TO SALMON PRODUCTIVITY.

    Expenses $2,480,931 · Revenue $69,107

  • ON FARM & WATER TRANSACTIONS - THE FRESHWATER TRUST WORKS COLLABORATIVELY WITH WATER USERS TO DESIGN CONSERVATION SOLUTIONS THAT IMPROVE WATER USE EFFICIENCY, ENHANCE UNDERLYING GROUNDWATER CONDITIONS, AND HELP CREATE MORE STREAMFLOW IN RIVERS.

    Expenses $44,075 · Revenue $97,160

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Joe Whitworth

    PRESIDENT

    Total calculated
    $305,795
    From this org
    $262,714
    From related orgs
    $0
    Other
    $43,081
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $262,714
    Bonus
    $0
    Other
    $0
    Deferred
    $13,750
    Nontaxable benefits
    $29,331
    Filer's total
    $305,795

  • Renai Bell

    DIRECTOR OF PRODUCT & ANALYTICS

    Total calculated
    $203,777
    From this org
    $182,125
    From related orgs
    $0
    Other
    $21,652
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,125
    Bonus
    $2,000
    Other
    $0
    Deferred
    $9,200
    Nontaxable benefits
    $12,452
    Filer's total
    $203,777

  • David Primozich

    VICE PRESIDENT OF WATER

    Total calculated
    $198,789
    From this org
    $161,381
    From related orgs
    $0
    Other
    $37,408
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,381
    Bonus
    $7,000
    Other
    $0
    Deferred
    $8,800
    Nontaxable benefits
    $28,608
    Filer's total
    $198,789

  • Dylan Harp

    LEAD TECHNICAL SCIENTIST

    Total calculated
    $175,151
    From this org
    $155,858
    From related orgs
    $0
    Other
    $19,293
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,858
    Bonus
    $2,000
    Other
    $0
    Deferred
    $7,900
    Nontaxable benefits
    $11,393
    Filer's total
    $175,151

  • Kimberlee Obilana

    VICE PRESIDENT OF PEOPLE & OPERATIONS

    Total calculated
    $162,686
    From this org
    $153,392
    From related orgs
    $0
    Other
    $9,294
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,392
    Bonus
    $7,000
    Other
    $0
    Deferred
    $7,550
    Nontaxable benefits
    $1,744
    Filer's total
    $162,686

  • Erik Ringelberg

    REGIONAL VICE PRESIDENT CALIFORNIA

    Total calculated
    $173,307
    From this org
    $145,646
    From related orgs
    $0
    Other
    $27,661
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,646
    Bonus
    $2,000
    Other
    $0
    Deferred
    $7,468
    Nontaxable benefits
    $20,193
    Filer's total
    $173,307

  • Ben Wyatt Senior

    DIRECTOR OF PARTNERSHIPS & COMMS

    Total calculated
    $150,183
    From this org
    $134,495
    From related orgs
    $0
    Other
    $15,688
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,495
    Bonus
    $2,000
    Other
    $0
    Deferred
    $6,700
    Nontaxable benefits
    $8,988
    Filer's total
    $150,183

  • Mark Porter

    SCIENCE DIRECTOR

    Total calculated
    $151,179
    From this org
    $133,660
    From related orgs
    $0
    Other
    $17,519
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,660
    Bonus
    $2,000
    Other
    $0
    Deferred
    $6,750
    Nontaxable benefits
    $10,769
    Filer's total
    $151,179

  • Timothy Wigington

    VICE PRESIDENT OF FINANCE & POLICY

    Total calculated
    $168,377
    From this org
    $132,369
    From related orgs
    $0
    Other
    $36,008
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,369
    Bonus
    $7,000
    Other
    $0
    Deferred
    $7,550
    Nontaxable benefits
    $28,458
    Filer's total
    $168,377

  • Kate Moore

    SENIOR WATER ATTORNEY

    Total calculated
    $120,526
    From this org
    $113,561
    From related orgs
    $0
    Other
    $6,965
    Hours/week
    40

  • Scott Sandbo

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Anthony Trunzo

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Margaret Donavan Cormier

    TREASURER UNTIL JUN 2024

    Total calculated
    $0
    Hours/week
    2

  • Gary Fish

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Akbar Chisti

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Brad Preble

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Chen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Laurance

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Debra Hatcher

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Fee Stubblefield

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Gia Schneider

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Hank Ashforth

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Kim Malek

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Marcelino Alvarez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Margaret Tuchmann

    DIRECTOR UNTIL JUN 2024

    Total calculated
    $0
    Hours/week
    2

  • Mike Pohl

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Molly McCabe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Natalie Hocken

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Paul Fortino

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Peter Doubleday

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Sara Spangelo

    DIRECTOR UNTIL DEC 2024

    Total calculated
    $0
    Hours/week
    2

  • Scott Demorest

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • William Neuhauser

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE ORGANIZATION HOLDS A MEMBERSHIP AT A SOCIAL CLUB IN THE NAME OF OUR PRESIDENT/CEO. THE MEMBERSHIP IS USED FOR MEETINGS WITH DONORS AND OTHER BUSINESS DEVELOPMENT. OTHER MEMBERS OF TFT USED THE MEMBERSHIP ON OCCASION FOR STAFF MEETINGS OR OTHER COMPANY BUSINSESS, WHEN ACCOMPANIED BY THE PRESIDENT/CEO AS HIS GUEST.
PART I, LINE 7
BONUSES WERE PAID AT THE END OF THE YEAR BASED ON THE INDIVIDUAL'S PERFORMANCE. AMOUNTS WERE DETERMINED BY MANAGEMENT AND APPROVED BY THE PRESIDENT.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
7 November 2025
IRS schema version
2024v5.2
Source object
202513189349316126

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