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Nonprofiteer
← WATERFORD INSTITUTE INC

Form 990 for tax year 2024

Filed by WATERFORD INSTITUTE INC.

Totals

Total revenue
$48,299,857
Total expenses
$49,602,326
Contributions and grants received
$6,239,848
Grants paid
$0
Program service revenue
$41,141,896
Investment income
$908,219
Other revenue
$9,894
Total assets, end of year
$42,686,168
Total liabilities, end of year
$31,107,244
Net assets or fund balances, end of year
$11,578,924
Program services expenses (Part IX)
$43,645,255
Management and general expenses
$5,581,965
Fundraising expenses
$375,106
Program service expenses (Part III)
$43,645,255

Program services were 88.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • DAVID MYERS

    CEO CHIEF EXECUTIVE OFFICER

    Total calculated
    $441,259
    From this org
    $428,662
    From related orgs
    $0
    Other
    $12,597
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $428,662
    Bonus
    $0
    Other
    $0
    Deferred
    $7,309
    Nontaxable benefits
    $5,288
    Filer's total
    $441,259

  • SHERI BLACK

    VICE PRESIDENT OF SCHOOL RELATIONS

    Total calculated
    $382,706
    From this org
    $358,079
    From related orgs
    $0
    Other
    $24,627
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $264,559
    Bonus
    $93,520
    Other
    $0
    Deferred
    $9,092
    Nontaxable benefits
    $15,535
    Filer's total
    $382,706

  • MICHAEL HIGHT

    CHIEF TECHNOLOGY OFFICER

    Total calculated
    $365,139
    From this org
    $327,224
    From related orgs
    $0
    Other
    $37,915
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $218,330
    Bonus
    $108,894
    Other
    $0
    Deferred
    $16,600
    Nontaxable benefits
    $21,315
    Filer's total
    $365,139

  • JODI SOHRT

    DIRECTOR OF SCHOOL RELATIONS

    Total calculated
    $345,666
    From this org
    $312,500
    From related orgs
    $0
    Other
    $33,166
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $232,809
    Bonus
    $79,691
    Other
    $0
    Deferred
    $11,851
    Nontaxable benefits
    $21,315
    Filer's total
    $345,666

  • SCOTT WOOD

    SVP OF TECHNOLOGY

    Total calculated
    $348,903
    From this org
    $311,726
    From related orgs
    $0
    Other
    $37,177
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $208,081
    Bonus
    $103,645
    Other
    $0
    Deferred
    $15,862
    Nontaxable benefits
    $21,315
    Filer's total
    $348,903

  • THOMAS NESS

    CHIEF FINANCIAL OFFICER

    Total calculated
    $324,825
    From this org
    $289,332
    From related orgs
    $0
    Other
    $35,493
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $289,332
    Bonus
    $0
    Other
    $0
    Deferred
    $14,343
    Nontaxable benefits
    $21,150
    Filer's total
    $324,825

  • CLAUDIA MINER

    EXECUTIVE DIRECTOR & CO-FO

    Total calculated
    $301,625
    From this org
    $283,189
    From related orgs
    $0
    Other
    $18,436
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $283,189
    Bonus
    $0
    Other
    $0
    Deferred
    $12,415
    Nontaxable benefits
    $6,021
    Filer's total
    $301,625

  • EDWARD HEUSTON

    EXECUTIVE DIRECTOR & CO-FO

    Total calculated
    $310,805
    From this org
    $280,423
    From related orgs
    $0
    Other
    $30,382
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $280,423
    Bonus
    $0
    Other
    $0
    Deferred
    $14,519
    Nontaxable benefits
    $15,863
    Filer's total
    $310,805

  • MATT HILL

    CEO CHIEF EXECUTIVE OFFICER

    Total calculated
    $286,943
    From this org
    $261,521
    From related orgs
    $0
    Other
    $25,422
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $261,521
    Bonus
    $0
    Other
    $0
    Deferred
    $12,988
    Nontaxable benefits
    $12,434
    Filer's total
    $286,943

  • CLARK BEAL

    SVP SCHOOL RELATIONS

    Total calculated
    $292,846
    From this org
    $259,995
    From related orgs
    $0
    Other
    $32,851
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,118
    Bonus
    $100,877
    Other
    $0
    Deferred
    $11,536
    Nontaxable benefits
    $21,315
    Filer's total
    $292,846

  • REBECCA KELLEY

    CHIEF OF ADVOCACY AND COMM

    Total calculated
    $256,800
    From this org
    $244,543
    From related orgs
    $0
    Other
    $12,257
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $244,543
    Bonus
    $0
    Other
    $0
    Deferred
    $12,257
    Nontaxable benefits
    $0
    Filer's total
    $256,800

  • KATHY LANDON

    CHIEF OPERATING OFFICER

    Total calculated
    $234,927
    From this org
    $224,156
    From related orgs
    $0
    Other
    $10,771
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $224,156
    Bonus
    $0
    Other
    $0
    Deferred
    $10,771
    Nontaxable benefits
    $0
    Filer's total
    $234,927

  • JENNI TORRES

    EXECUTIVE VP & CHIEF ACADE

    Total calculated
    $227,685
    From this org
    $220,332
    From related orgs
    $0
    Other
    $7,353
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $205,332
    Bonus
    $15,000
    Other
    $0
    Deferred
    $7,353
    Nontaxable benefits
    $0
    Filer's total
    $227,685

  • VICKIE ROSS

    VICE PRESIDENT OF SOLUTIONS CONSULTING

    Total calculated
    $238,902
    From this org
    $220,326
    From related orgs
    $0
    Other
    $18,576
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $220,326
    Bonus
    $0
    Other
    $0
    Deferred
    $6,277
    Nontaxable benefits
    $12,299
    Filer's total
    $238,902

  • JAMES LUND

    SENIOR VICE PRESIDENT - UTAH UPSTART

    Total calculated
    $250,196
    From this org
    $219,224
    From related orgs
    $0
    Other
    $30,972
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,252
    Bonus
    $30,972
    Other
    $0
    Deferred
    $9,657
    Nontaxable benefits
    $21,315
    Filer's total
    $250,196

  • LORI PUGH

    CHIEF PEOPLE OFFICER

    Total calculated
    $236,746
    From this org
    $218,331
    From related orgs
    $0
    Other
    $18,415
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $218,331
    Bonus
    $0
    Other
    $0
    Deferred
    $11,189
    Nontaxable benefits
    $7,226
    Filer's total
    $236,746

  • MATTHEW ORLINS

    SENIOR VICE PRESIDENT- GOVERNMENT RELATIONS

    Total calculated
    $226,277
    From this org
    $215,573
    From related orgs
    $0
    Other
    $10,704
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $215,573
    Bonus
    $0
    Other
    $0
    Deferred
    $10,704
    Nontaxable benefits
    $0
    Filer's total
    $226,277

  • LEAH WALKER

    EVP, EQUITY AND INCLUSION

    Total calculated
    $247,871
    From this org
    $215,361
    From related orgs
    $0
    Other
    $32,510
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $215,361
    Bonus
    $0
    Other
    $0
    Deferred
    $11,195
    Nontaxable benefits
    $21,315
    Filer's total
    $247,871

  • KERNARD JONES

    SENIOR VICE PRESIDENT- GOVERNMENT RELATIONS

    Total calculated
    $236,623
    From this org
    $213,158
    From related orgs
    $0
    Other
    $23,465
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $213,158
    Bonus
    $0
    Other
    $0
    Deferred
    $2,150
    Nontaxable benefits
    $21,315
    Filer's total
    $236,623

  • ERNEST BLACKWELL

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • ALLISON GUSHEE MOLKENTHIN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • WAYNE YSAGUIRRE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • STEPHANIE MONROE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • MATT GRIMES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • JACK RYAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • CHRIS LEE

    BOARD MEMBER

    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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 5a · Pay contingent on this organization's revenues

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 5
WATERFORD PROVIDES A VARIABLE COMPENSATION PROGRAM TO CERTAIN EMPLOYEES IN SCHOOL RELATIONS WHICH PROVIDES INCENTIVE COMMISSION PAYMENTS BASED ON SALES MADE TO SCHOOL DISTRICTS. WATERFORD PROVIDES A BONUS TO ALL EMPLOYEES THAT ARE NOT ELIGIBLE FOR A VARIABLE COMPENSATION PROGRAM. THIS BONUS IS PAID IF THE ORGANIZATION MEETS TOTAL ORGANIZATION GOALS.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • WATERFORD RESEARCH INSTITUTE LLC

    SOFTWARE DEVELOPMENT · UT · income $808,323 · assets $43,642,100

    Directly controlled by WATERFORD INSTITUTE INC

  • WATERFORD RESEARCH SRL

    SOFTWARE DEVELOPMENT · RO · income -$358,372 · assets $1,600,069

    Directly controlled by WATERFORD INSTITUTE INC

  • WATERFORD HOLDINGS LLC

    HOLDING COMPANY · UT

    Directly controlled by WATERFORD INSTITUTE INC

Provenance

Return type
form_990
Tax year
2024
Filed
23 June 2026
IRS schema version
2024v5.5
Source object
202601829349301950

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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