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Waterfall Foundation at a glance

· Private foundation

Waterfall Foundation

Its FY2025 filing reports that it funds preselected organizations and did not take unsolicited requests; check the foundation's own site before ruling it out.

$48k
Granted FY2025still arriving
7
Grants FY2025still arriving
4
States reached
$12k
Largest
01What it fundsRead
02The needRead
03Its granteesRead
04Its fieldRead
01What it funds
01100% classified

What it funded, over time

Every grant placed by its stated purpose and the recipient’s mission, by year, FY2017 to 2025.

Health$76kAnimals$56kEnvironment$33kReligion$28kEducation$25kHuman Services$21kCrime & Legal$20kFood & Nutrition$18kOther$0
02FY2025 · 7 grants

Where the money goes

Grants by size, and the largest recipients.

By grant size · FY2025

  • Under $10k4 grants · $16k
  • $10k–50k3 grants · $32k
$8,003
Median grant
4
States reached
$476k
Total assets
Largest grants
RecipientAmount
Individual grant recipient$12,003
EARTH PERCENT$10,000
RIO GRANDE HONOR FLIGHT$10,000
THE WESTON A PRICE FOUNDATION$8,003
OH MY JAW$4,000
CHARLIE DANIELS JOURNEY HOME PROJEC$2,004
NAMI NYC$2,003
02The need
03

Does the money reach high-need areas?

Each grant placed by the hardship in its grantee’s ZIP, against the area’s typical level.

show:

Its human-services grants (FY17–20, $25k) land where the poverty rate runs at 19%, against an area that typically sits at 11%. 92% of those dollars go to grantees based in above-average-need neighborhoods. Most of its grants land in higher-need ZIPs.

area typical 11%AFYA FOUNDATION: $2k → 9%THE FOOD DEPOT: $5k → 12%FAMILIES & YOUTH INC: $5k → 23%SELFHELP COMMUNITY SERVICES: $4k → 17%CANCER AID RESOURCE AND EDUCATION I: $4k → 23%CASA DE PEREGRINOS: $5k → 23%0%20%40%50%more need →
grant to an above-average-need area below average· circle size = grant amount
How this is measured
Matched: human-services grants are those whose grantee’s IRS cause code is Human Services. Placed by people below the poverty line in the grantee’s ZIP, averaged from the tracts in that ZIP.

Which US states its grants reach

ID
MN
IL
MI
NY
MA
OH
PA
CA
VA
AZ
NM
TN
DC
GA
How this is measured
US grants placed by each grantee’s ZIP, which can differ from where services are delivered. Need from public data (U.S. Census/ACS, CDC PLACES, Eviction Lab, USDA), shown as context about the area, never attributed to the funder’s giving.
03Its grantees
repeat funding

Who it funds again

Organizations funded in more than one year, against those funded once.

47%of every dollar goes to organizations it has funded before.
$154k · 14 repeat orgs$171k to everyone else

14 repeat relationships: 2 still active in FY2025, 12 since wound down; 5 grantees were first funded in FY2025 (too recent to call).

How the two cohorts compare

Re-uppedFunded once

Organizations

14
35

Total granted

$154k
$129k

Median revenue growth · since first grant

+15%
+17%

Still filing today

57%
57%

New vs renewed · share of each year

In FY2025, 13% of grant dollars renewed an existing relationship; $42k went to new ones.

50%100%’17’18’19’20’21’22’23’24’25
RenewedFirst-time

Where new relationships form · theme of each grantee’s first grant

’17’18’19’20’21’22’23’24’25
Human ServicesAnimalsEnvironmentPublic BenefitInternationalHealthOther
How this is measured
First-time means a grantee’s first year in the filing window; renewed means funded in an earlier year too. The renewed share climbs naturally as a portfolio matures, so the signal is a year that bucks it (a wave of new grantees). The earliest year is left-censored: relationships that predate the data read as new. Theme is the grantee’s IRS cause.

Backed again, and grew

  • AH
    AMADOR HEALTH CENTER INC
    2× · 2019–2020 · $35k · revenue +61%
  • LT
    LIFE TRANSITION MEDITATION CENTER
    2× · 2023–2024 · $23k · revenue +6%
  • HJ
    HER JUSTICE INC
    2× · 2023–2024 · $10k · revenue +8%

Funded once

  • FP
    FOUR PAWS AND A WAKE UP INC
    one grant, 2022 · $10k · revenue +14%
  • CF
    COMMUNITY FOUNDATION OF SOUTHERN NM
    one grant, 2020 · $10k
  • HF
    HONOR FLIGHT OF SNM
    one grant, 2024 · $8k
How this is measured

Repeat means funded in two or more distinct years. Growth and survival are read from each grantee’s own subsequent IRS filings.

04Its field

Closest unfunded matches

The nonprofits that most resemble its grantees but are not funded by it, scored along the direction from the rest of the field toward the portfolio. A resemblance in what they say they do, not a recommendation.

1
Animal Protection New Mexico

To protect animals by creating systemic change resulting in the humane treatment of all animals. we create policies, infrastructure, and services that protect animals and strengthen our communities, and we design and implement humane and…

Animals
2
Animal Protection New Mexico Inc (Apnm)Foundation

The organization operates exclusively for the benefit and support of animal protection new mexico, which seeks to educate the public about and advocates campaigns that prevent cruelty to animals.

Animals
3
Animal Outlook Inc

Animal outlook is a national animal protection organization working to end the abuse of farmed animals using a variety of strategies, including investigations, legal advocacy, corporate and food system reform, and vegan outreach.

Animals
4
Santa Fe Animal Shelter and Humane Society Inc

To support animals, save lives, and spread compassion.

Animals
5
Argos a Shelter Dog Rescue

The purpose of argos, a shelter dog rescue is: to rescue animals from situations that are abusive, endangering, or neglectful. to rescue animals in danger of being euthanized in new mexico shelters/pounds. to provide necessary veterinary…

Animals
6
Animal Defense Partnership Inc

The Animal Defense Partnership protects animals by providing free legal services to nonprofits that advocate for animals and plant-based diet change. We believe that all animal protection organizations should have access to strong legal…

Animals
7
The San Francisco Society for the Prevention of Cruelty to Animals

To ensure every companion animal has access to quality medical care, compassionate shelter, and a loving home.

Animals
8
All About Animals Rescue

All about animals rescue's mission is no more homeless pets.

Animals
9
Global Animal Partnership
Animals
10
Community Animal Medicine Project Inc

To substantially reduce animal shelter euthanasia and intake by providing high quality, low cost veterinary services to underserved communities in the los angeles area.

Animals
11
Animal Wellness Action

To prevent cruelty to animals, we promote enacting and enforcing good public policies. enacting good laws depends upon electing good lawmakers, and we remind voters which candidates care about and support animal issues.

Human Services
12
Animal Rescue Mission

To rescue and rehabilitate dogs and cats and place them in forever homes.

Animals
How this is measured
The grantee most central to the portfolio’s shape is Amador Health Center Inc; the most unlike its peers is Rachel Barton Pine Foundation. Resemblance is measured on each organization’s own IRS 990 mission text; it reflects how work is described, not its quality or impact.
04the grantee network

33 grantees tracked through their own filings, 2017–2025.

Each grant beside the grantee’s revenue from every source, year by year.

How this is measured

Counted here: distinct organizations funded across 2017 to 2025, not grant rows in a single year, so this will not match the grant count on the cover. 33 of the 55 grantees resolved in that span have returns of their own we could reconcile.

Each grantee is resolved to its own IRS returns. Association, dated; never a causal claim.

0
Load-bearing (≥25% of a budget)
8
Early backer (in before they grew)
33/33
Grantees still filing
21/33
Grew since first funded

Where the money sits, by cause and then by grantee

HSLDA: $15,347 · OtherHSLDAIndividual grant recipient: $12,003 · OtherIndividual grant recipientOHMYJAW INC: $12,000 · OtherOHMYJAW INCFOUR PAWS AND A WAKE UP INC: $10,000 · OtherCOMMUNITY FOUNDATION OF SOUTHERN NM: $10,000 · OtherHONOR FLIGHT OF SNM: $8,373 · OtherTHE HORSE SHELTER: $8,000 · OtherCHILDRENS HEALTH DEFENSE: $8,000 · OtherNATIONAL ALLIANCE ON MENTAL ILLNESS OF NEW YORK CITY INC: $7,503 · OtherHATZOLAH: $7,275 · OtherSF BEE ASSOCIATION: $6,544 · OtherHER JUSTICE INC: $10,000 · OtherHEALTH FREEDOM DEFENSE FUND INC: $10,000 · OtherTHE WESTON A PRICE FOUNDATION: $8,003 · Other+22 more: $58,662 · Other+22 moreAMADOR HEALTH CENTER INC: $35,000 · HealthAMADOR HEALT…FAMILIES AND YOUTH INC: $5,041 · Human ServicesFAMILIES …CASA DE PEREGRINOS: $5,000 · Human ServicesCASA DE P…THE FOOD DEPOT: $5,000 · Human ServicesTHE FOOD …SELFHELP COMMUNITY SERVICES INC: $4,285 · Human ServicesSELFHELP …CANCER AID RESOURCE & EDUCATION INC: $3,910 · Human ServicesCANCER AI…ST LUKES CLINIC INC: $3,455 · Human ServicesST LUKES …THE AFYA FOUNDATION OF AMERICA INC: $1,910 · Human ServicesTHE AFYA …LIFE TRANSITION MEDITATION CENTER: $22,916 · ReligionRio Grande Honor Flight: $10,000 · Public BenefitORGANIC CONSUMERS ASSOCIATION: $7,500 · Public BenefitTHE CHARLIE DANIELS JOURNEY HOME PROJECT: $2,004 · Public BenefitACTION PROGRAM FOR ANIMALS: $9,800 · AnimalsVESTED INTEREST IN K9S INC: $2,925 · AnimalsSAFE HAVEN ANIMAL SANCTUARY INC: $1,500 · AnimalsBRADYS K9 FUND: $1,500 · AnimalsEARTHPERCENT FOUNDATION: $10,000 · EnvironmentCOUNCIL ON THE ENVIRONMENT INC: $2,544 · EnvironmentNEW MEXICO WILDERNESS ALLIANCE: $2,115 · Environment
Other$191,710Health$35,000Human Services$28,601Religion$22,916Public Benefit$19,504Animals$15,725Environment$14,659

Each grantee by its size and the funder’s share of it; top left is load-bearing

25%50%75%100%$100k$1.0M$10M$100Mgrantee revenue →↑ funder's share of their budgetAMADOR HEALTH CENTER INC: $35,000 over 2y, 1.4% of budgetLIFE TRANSITION MEDITATION CENTER: $22,916 over 2y, 13% of budgetFOUR PAWS AND A WAKE UP INC: $10,000 over 1y, 15% of budgetHER JUSTICE INC: $10,000 over 2y, 0.1% of budgetHEALTH FREEDOM DEFENSE FUND INC: $10,000 over 2y, 0.7% of budgetRio Grande Honor Flight: $10,000 over 1y, 15% of budgetACTION PROGRAM FOR ANIMALS: $9,800 over 3y, 0.7% of budgetNATIONAL ALLIANCE ON MENTAL ILLNESS OF NEW YORK CITY INC: $7,503 over 4y, 0.1% of budgetORGANIC CONSUMERS ASSOCIATION: $7,500 over 1y, 0.3% of budgetFAMILIES AND YOUTH INC: $5,041 over 1y, 0.1% of budgetCASA DE PEREGRINOS: $5,000 over 1y, 0.3% of budgetTHE FOOD DEPOT: $5,000 over 1y, 0.0% of budgetALGALITA MARINE RESEARCH AND EDUCATION: $4,910 over 1y, 1.0% of budgetXAVIER MISSION INC: $4,900 over 2y, 0.3% of budgetSELFHELP COMMUNITY SERVICES INC: $4,285 over 1y, 0.0% of budgetST LUKES CLINIC INC: $3,455 over 1y, 2.0% of budgetSOCIAL GOOD FUND INC: $3,000 over 2y, 0.0% of budgetSpikes K9 Fund: $3,000 over 1y, 0.4% of budgetVESTED INTEREST IN K9S INC: $2,925 over 1y, 0.2% of budgetCOUNCIL ON THE ENVIRONMENT INC: $2,544 over 2y, 0.0% of budgetRachel Barton Pine Foundation: $2,520 over 1y, 2.9% of budgetNEW YORK SHAKESPEARE FESTIVAL: $2,500 over 1y, 0.0% of budgetDOCTORS FOR GLOBAL HEALTH INC: $2,500 over 1y, 0.5% of budgetNEW MEXICO WILDERNESS ALLIANCE: $2,115 over 1y, 0.1% of budgetTHE CHARLIE DANIELS JOURNEY HOME PROJECT: $2,004 over 1y, 0.2% of budgetCharlotte Maxwell Clinic: $2,000 over 1y, 0.4% of budgetTHE AFYA FOUNDATION OF AMERICA INC: $1,910 over 1y, 0.0% of budgetAMIGOS OF COSTA RICA INC: $1,775 over 1y, 0.0% of budgetSAFE HAVEN ANIMAL SANCTUARY INC: $1,500 over 1y, 0.2% of budget
Grantee by grantee: a decade per organization, before and after funding

A decade per grantee: revenue shaded, grants as bars, all rows on one timeline.

Co-funders

Grantmakers whose grantees overlap with this funder’s far more than size alone predicts. Closer means stronger alignment; arcs show where they also fund each other. Here they form a tightly interlocked group: most of these funders back each other's grantees too.

Community Foundation …Carroll Petrie Founda…Ge Aerospace Foundati…The Chicago Community…Paypal Charitable Giv…Network for GoodJpmorgan Chase Founda…Vanguard Charitable E…The Blackbaud Giving …National Philanthropi…Morgan Stanley Global…The Bank of America C…
Community Foundation of Southern New MexicoNM15.6× affinity5 shared granteesties to 11 of 11Hover any node to trace its alignments.Compare side by side →

Open a dossier: Community Foundation of Southern New Mexico · Carroll Petrie Foundation · Ge Aerospace Foundation · The Chicago Community Trust · Paypal Charitable Giving Fund · Network for Good · Jpmorgan Chase Foundation · Vanguard Charitable Endowment Program · The Blackbaud Giving Fund · National Philanthropic Trust · Morgan Stanley Global Impact Funding Trust Inc · The Bank of America Charitable Foundation Inc

How this is measured
Affinity is a Gamma-Poisson posterior co-funding rate, re-centered on the typical rate, so thin evidence shrinks toward no signal. Overlap is association, not proof of shared intent.

How much its grantees rely on government

Each dot is one organization Waterfall Foundation funds: left to right is the share of its income from government, bottom to top the share from Waterfall Foundation. Bigger dots raise more.

2024
’20’21’22’23’24’25
no gov · 20%1%5%11%20%funder's share of their income ↑0%25%50%75%100%share of the org’s income from government →
    no gov moneyreceives it· size = income
    2get no government money at all
    5report government grants on their 990 we could not trace to a source (not plotted)
    0rely on government for over half their income
    typical government reliance, FY20–25
    How this is measured
    Government income is each org’s traced federal awards (USASpending grants and contracts) plus state payments (open checkbooks) as a share of its total revenue (IRS Form 990); the self-reported government-grant line (990 line 1e) is carried for cross-check: a grantee that reports government grants we could not trace to a source is left off the chart rather than shown as receiving none. An association, not a claim that a grant caused the public funding. Coverage is precision-first, a floor rather than a census; state records exist for 9 states, so a grantee outside them shows no state figure (dimmed) rather than a false zero. Federal award amounts are obligations, which can span years, so a single-year share is indicative. 990 filings lag 12 to 24 months.

    On method. Every financial figure here is read from IRS e-file XML, the funder’s own 990/990-PF, and from the multi-year returns of the 55 grantees we resolved, each linked to its source. Grantee outcomes are each organization’s own program-service reporting (Form 990, Part III), read as association with funding, never as caused by it. Low-confidence name matches are suppressed rather than guessed. How we build these →

    How this is measured
    Each figure carries one of six labels. Filed is what the funder reported on its return. Official is another government record about an organization, such as a federal award or a charity register, joined by name where no shared identifier exists. Resolved is an identity we worked out where the filing named a recipient without an EIN, kept only above a measured confidence threshold. Computed is arithmetic over those, like themes, portfolio clusters and co-funder strength. Context is a statistic about a place rather than about an organization, which is what the need overlay is: it describes the area a grantee’s address sits in, not where its work lands. Inferred is drawn by a model from text, like the partnerships read out of public news and organization websites. Each is labeled where it appears.

    Generated from the IRS Form 990-PF e-file return for fiscal year 2025, released 2025. Filings run roughly 12 to 24 months behind; figures are dated accordingly.

    Source object · view filing

    Play a game based on Waterfall’s filings →

    More from the funding graph

    The unnamed billions
    grants reported with no recipient in the public record
    The regranting layer
    51% of grant dollars land in the regranting layer
    The DAF merry-go-round
    $9.7B circulates between donor-advised funds
    The endowment market
    who holds foundation money, and what just moved
    The camps
    funders cluster by geography, not ideology
    By state
    where grant money is based, and what stays home