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Nonprofiteer
← AQUIFER INC

Form 990 for tax year 2024

Filed by AQUIFER INC.

Totals

Total revenue
$8,159,979
Total expenses
$7,563,951
Contributions and grants received
$5,000
Grants paid
$95,000
Program service revenue
$7,938,495
Investment income
$216,484
Other revenue
$0
Total assets, end of year
$14,666,466
Total liabilities, end of year
$7,901,586
Net assets or fund balances, end of year
$6,764,880
Program services expenses (Part IX)
$5,618,195
Management and general expenses
$1,299,384
Fundraising expenses
$646,372
Program service expenses (Part III)
$5,618,195

Program services were 74.3% 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.

  • 1f · All other contributions, gifts and grants

    $5,000

  • 2a · Program service revenue: PROGRAM REVENUE

    total $7,938,495 · related or exempt $7,938,495

  • 3 · Investment income

    total $216,484 · excluded $216,484

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $95,000 · program services $95,000

  • 5 · Compensation of officers, directors and key employees

    total $881,128 · program services $545,512 · management and general $335,616

  • 7 · Other salaries and wages

    total $2,820,281 · program services $2,188,865 · management and general $435,254 · fundraising $196,162

  • 8 · Pension plan contributions

    total $106,536 · program services $82,829 · management and general $16,231 · fundraising $7,476

  • 9 · Other employee benefits

    total $712,342 · program services $554,421 · management and general $113,098 · fundraising $44,823

  • 10 · Payroll taxes

    total $223,323 · program services $172,430 · management and general $36,175 · fundraising $14,718

  • 11b · Fees: legal

    total $19,171 · management and general $19,171

  • 11c · Fees: accounting

    total $60,425 · management and general $60,425

  • 11g · Fees: other

    total $802,236 · program services $557,612 · management and general $83,473 · fundraising $161,151

  • 12 · Advertising and promotion

    total $69,560 · fundraising $69,560

  • 13 · Office expenses

    total $45,147 · program services $29,230 · management and general $13,051 · fundraising $2,866

  • 14 · Information technology

    total $936,968 · program services $841,257 · management and general $57,340 · fundraising $38,371

  • 16 · Occupancy

    total $95,009 · program services $68,006 · management and general $19,252 · fundraising $7,751

  • 17 · Travel

    total $438,294 · program services $263,442 · management and general $71,358 · fundraising $103,494

  • 20 · Interest

    total $10,336 · program services $10,336

  • 22 · Depreciation, depletion and amortization

    total $211,294 · program services $209,255 · management and general $2,039

  • 23 · Insurance

    total $36,901 · management and general $36,901

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,986 · end of year $10,418

  • 2 · Savings and temporary cash investments

    beginning of year $9,087,296 · end of year $10,421,403

  • 4 · Accounts receivable

    beginning of year $3,955,270 · end of year $2,490,438

  • 9 · Prepaid expenses and deferred charges

    beginning of year $173,874 · end of year $134,966

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

    $185,064

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

    $176,153

  • 10c · Land, buildings and equipment, net

    beginning of year $13,369 · end of year $8,911

  • 11 · Investments: publicly traded securities

    beginning of year $798,204 · end of year $855,185

  • 14 · Intangible assets

    beginning of year $769,849 · end of year $601,707

  • 15 · Other assets

    beginning of year $201,045 · end of year $143,438

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,679,212 · end of year $1,672,688

  • 19 · Deferred revenue

    beginning of year $6,701,762 · end of year $5,852,868

  • 24 · Unsecured notes and loans payable

    beginning of year $278,160 · end of year $227,696

  • 25 · Other liabilities

    beginning of year $204,793 · end of year $148,334

  • 27 · Net assets without donor restrictions

    beginning of year $6,142,966 · end of year $6,764,880

Mission and programs · 2024

Mission

WE ARE A MISSION-DRIVEN NON-PROFIT ORGANIZATION DEDICATED TO DELIVERING THE BEST HEALTH CARE EDUCATION THROUGH COLLABORATIVE DEVELOPMENT AND RESEARCH INTO INNOVATIVE, HIGH-IMPACT VIRTUAL TEACHING AND LEARNING METHODS.

Activities or mission (Part I)

TO ADVANCE MEDICAL EDUCATION THROUGH COLLABORATIVE DEVELOPMENT, MAINTENANCE AND RESEARCH OF INNOVATIVE AND COMPREHENSIVE COMPUTER-ASSISTED INSTRUCTION PROGRAMS.

  • 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

    Expenses $5,618,195 · Grants $95,000 · Revenue $7,938,495

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

Listed in Part VII

  • Blake Darcy

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Stephen Lawe

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Susan Fernandes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Bruce Morgenstern MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Charles Prober MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Leslie Fall MD

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $350,454
    From this org
    $299,212
    From related orgs
    $0
    Other
    $51,242
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $299,212
    Bonus
    $0
    Other
    $0
    Deferred
    $12,122
    Nontaxable benefits
    $39,120
    Filer's total
    $350,454

  • Craig Davis

    CHIEF FINANCIAL OFFICER

    Total calculated
    $209,230
    From this org
    $161,050
    From related orgs
    $0
    Other
    $48,180
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $161,050
    Bonus
    $0
    Other
    $0
    Deferred
    $6,468
    Nontaxable benefits
    $41,712
    Filer's total
    $209,230

  • Emily Stewart MD

    CHIEF CURRICULUM OFFICER

    Total calculated
    $260,468
    From this org
    $237,359
    From related orgs
    $0
    Other
    $23,109
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $237,359
    Bonus
    $0
    Other
    $0
    Deferred
    $9,505
    Nontaxable benefits
    $13,604
    Filer's total
    $260,468

  • Vimal Bhatnagar

    CHIEF OPERATING OFFICER 'TIL 11/24

    Total calculated
    $216,534
    From this org
    $178,157
    From related orgs
    $0
    Other
    $38,377
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,157
    Bonus
    $0
    Other
    $0
    Deferred
    $7,163
    Nontaxable benefits
    $31,214
    Filer's total
    $216,534

  • Stephanie Dewitt

    DIR. OF PRODUCT 'TIL 11/24

    Total calculated
    $190,482
    From this org
    $153,413
    From related orgs
    $0
    Other
    $37,069
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,413
    Bonus
    $0
    Other
    $0
    Deferred
    $5,450
    Nontaxable benefits
    $31,619
    Filer's total
    $190,482

  • Nick Jones

    LEAD DEVELOPER

    Total calculated
    $163,438
    From this org
    $147,580
    From related orgs
    $0
    Other
    $15,858
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,580
    Bonus
    $0
    Other
    $0
    Deferred
    $5,914
    Nontaxable benefits
    $9,944
    Filer's total
    $163,438

  • Shawn Griffin

    PRODUCT ENGINEERING MANAGER

    Total calculated
    $171,068
    From this org
    $137,707
    From related orgs
    $0
    Other
    $33,361
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,707
    Bonus
    $0
    Other
    $0
    Deferred
    $5,550
    Nontaxable benefits
    $27,811
    Filer's total
    $171,068

  • Nat Pierson

    SENIOR DATA ENGINEER

    Total calculated
    $156,533
    From this org
    $130,115
    From related orgs
    $0
    Other
    $26,418
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,115
    Bonus
    $0
    Other
    $0
    Deferred
    $5,215
    Nontaxable benefits
    $21,203
    Filer's total
    $156,533

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 · Written employment contract
  • 3 · Approval by the board or compensation committee

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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

Provenance

Return type
form_990
Tax year
2024
Filed
28 October 2025
IRS schema version
2024v5.2
Source object
202503029349300125

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

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