Water Research Foundation
Water Research Foundation consistently grows assets and maintains financial surplus over a decade.
EIN: 136211384 · Denver, CO · NTEE: C32 · Updated: 2026-03-28
Is Water Research Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Water Research Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Water Research Foundation
Water Research Foundation (EIN: 136211384) is a nonprofit organization based in Denver, CO, classified under NTEE code C32. The organization reported total revenue of $45.7M and total assets of $57.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Water Research Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Water Research Foundation is a large nonprofit that has been operating for 59 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $23.4M |
| Total Expenses | $19.1M |
| Surplus / Deficit | +$4.3M |
| Total Assets | $53.2M |
| Total Liabilities | $9.3M |
| Net Assets | $43.9M |
| Operating Margin | 18.4% |
| Debt-to-Asset Ratio | 17.4% |
| Months of Reserves | 33.5 months |
Financial Health Grade: A
In 2023, Water Research Foundation reported a surplus of $4.3M with revenue exceeding expenses, holds 33.5 months of operating reserves (strong position), has a debt-to-asset ratio of 17.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Water Research Foundation's revenue has grown at a compound annual growth rate (CAGR) of 2.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -4.6% | +2.6% | +14.2% |
| 2022 | -9.9% | -5.6% | +15.2% |
| 2021 | +5.5% | +0.2% | +9.4% |
| 2020 | +5.4% | -1.9% | +24.7% |
| 2019 | -19.8% | -15.1% | +8.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1967 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Water Research Foundation with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Water Research Foundation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $4.3M, with revenue exceeding expenses.
- Debt-to-asset ratio: 17.4%.
Executive Compensation Analysis
The provided data indicates 0% officer compensation across all reported years, suggesting either a volunteer leadership model or that executive compensation is not reported in this summary, which could be a positive indicator of resource allocation to programs if accurate.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Water Research Foundation's IRS 990 filings:
- Lack of detailed functional expense breakdown in provided data prevents precise efficiency analysis.
Strengths
The following positive indicators were identified for Water Research Foundation:
- Consistent financial surpluses, with revenue exceeding expenses in most years.
- Significant and sustained asset growth, from $16.79 million in 2014 to $53.20 million in 2023.
- No reported officer compensation in the provided data, suggesting efficient use of funds or volunteer leadership.
- Strong financial stability with a healthy asset-to-liability ratio (e.g., $53.20M assets vs $9.28M liabilities in 2023).
Frequently Asked Questions about Water Research Foundation
Is Water Research Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Water Research Foundation (EIN: 136211384) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Water Research Foundation spend its money?
Water Research Foundation directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Water Research Foundation tax-deductible?
Water Research Foundation is registered as a tax-exempt nonprofit (EIN: 136211384). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Water Research Foundation a good charity?
Based on its consistent financial surpluses, significant asset growth from $16.79M in 2014 to $53.20M in 2023, and the absence of reported officer compensation, the Water Research Foundation appears to be a financially well-managed organization with a strong capacity to support its mission.
How has the organization's financial health changed over time?
The organization has shown remarkable financial growth, with assets more than tripling from $16.79 million in 2014 to $53.20 million in 2023. Revenue has also generally increased, demonstrating a strong and improving financial position.
What is the trend in its revenue and expenses?
Revenue has fluctuated but generally trended upwards, reaching a peak of $30.46 million in 2018 and $27.17 million in 2021, while expenses have also increased but typically remained below revenue, allowing for consistent surpluses. For example, in 2023, revenue was $23.36 million and expenses were $19.08 million.
Filing History
IRS 990 filing history for Water Research Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Water Research Foundation's revenue has grown by 38.6%, moving from $16.9M to $23.4M. Total assets increased by 173.4% over the same period, from $19.5M to $53.2M. Total functional expenses rose by 9.3%, from $17.5M to $19.1M. In its most recent filing year (2023), Water Research Foundation reported a surplus of $4.3M, with revenue exceeding expenses. The organization holds $9.3M in liabilities against $53.2M in assets (debt-to-asset ratio: 17.4%), resulting in net assets of $43.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $23.4M | $19.1M | $53.2M | $9.3M | — | View 990 |
| 2022 | $24.5M | $18.6M | $46.6M | $7.6M | — | View 990 |
| 2021 | $27.2M | $19.7M | $40.4M | $6.6M | — | View 990 |
| 2020 | $25.8M | $19.7M | $37.0M | $10.6M | — | — |
| 2019 | $24.4M | $20.0M | $29.6M | $9.2M | — | View 990 |
| 2018 | $30.5M | $23.6M | $27.3M | $11.7M | — | View 990 |
| 2017 | $15.0M | $14.6M | $15.2M | $5.9M | — | — |
| 2016 | $15.8M | $16.1M | $13.8M | $4.4M | — | View 990 |
| 2015 | $15.8M | $16.8M | $14.9M | $5.3M | — | View 990 |
| 2014 | $15.4M | $15.4M | $16.8M | $6.5M | — | View 990 |
| 2013 | $16.1M | $17.3M | $17.0M | $5.1M | — | View 990 |
| 2012 | $17.2M | $18.4M | $18.2M | $6.0M | — | View 990 |
| 2011 | $16.9M | $17.5M | $19.5M | $5.8M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $23.4M, expenses of $19.1M, and assets of $53.2M (revenue -4.6% year-over-year).
- 2022: Revenue of $24.5M, expenses of $18.6M, and assets of $46.6M (revenue -9.9% year-over-year).
- 2021: Revenue of $27.2M, expenses of $19.7M, and assets of $40.4M (revenue +5.5% year-over-year).
- 2020: Revenue of $25.8M, expenses of $19.7M, and assets of $37.0M (revenue +5.4% year-over-year).
- 2019: Revenue of $24.4M, expenses of $20.0M, and assets of $29.6M (revenue -19.8% year-over-year).
- 2018: Revenue of $30.5M, expenses of $23.6M, and assets of $27.3M (revenue +102.7% year-over-year).
- 2017: Revenue of $15.0M, expenses of $14.6M, and assets of $15.2M (revenue -4.7% year-over-year).
- 2016: Revenue of $15.8M, expenses of $16.1M, and assets of $13.8M (revenue +0.0% year-over-year).
- 2015: Revenue of $15.8M, expenses of $16.8M, and assets of $14.9M (revenue +2.1% year-over-year).
- 2014: Revenue of $15.4M, expenses of $15.4M, and assets of $16.8M (revenue -4.1% year-over-year).
- 2013: Revenue of $16.1M, expenses of $17.3M, and assets of $17.0M (revenue -6.2% year-over-year).
- 2012: Revenue of $17.2M, expenses of $18.4M, and assets of $18.2M (revenue +1.8% year-over-year).
- 2011: Revenue of $16.9M, expenses of $17.5M, and assets of $19.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Water Research Foundation:
Data Sources and Methodology
This transparency report for Water Research Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.