The Waterfall Foundation Inc
The Waterfall Foundation Inc is a public charity based in Atlanta, Georgia, that supports other charitable organizations through direct grants to 501(c)(3) organizations. It was formed in 2000.
The Waterfall Foundation Inc at a glance
In short: The Waterfall Foundation Inc gave $21.2M across 5 grants in 2025 (avg $4.2M), mostly in Massachusetts. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $21,180,045
- +533.5% vs 2024
- Grants made (2025)
- 5
- -90.0% vs 2024
- Average grant
- $4,236,009
- +6234.7% vs 2024
- Median grant
- $50,000
- Primary geography
- Massachusetts (99% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated October 2026.
How to apply to The Waterfall Foundation Inc
- Contact
Mailing address: PO Box 422223, Atlanta, GA 30342
Phone: (404) 256-5865
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who The Waterfall Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 5 recipients in 2025
The largest 2025 recipient was Fidelity Investments Charitable Gift Fund ($20.9M). Together the top 5 received $21.2M.
Grant Size Distribution
205 grants across all recorded years
The most common grant size was in the $50–100K range: 127 grants of 205 (62%).
Geographic Focus
Where this funder awards grants
For 2025, the reported shares of grant dollars by recipient state were Massachusetts 99%, and the U.S. Virgin Islands, Georgia, and Illinois each 0% as reported.
Grant Distribution by State
Share of 2025 grant dollars across all 5 itemized grants.
States
Cities
How The Waterfall Foundation Inc gives
- Giving grew 562% from 2022 to 2025. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $3.0M (2021) to $21.2M (2025). In 2025 it made 5 grants totaling $21.2M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Fidelity Investments Charitable Gift Fund Boston, MA | Transfer of remaining assets upon dissolution to support charitable missions | $20,930,045 |
| St Croix Mission Outreach Christiansted, VI | Charitable Support | $100,000 |
| Candler Park Conservancy Atlanta, GA | Charitable Support | $50,000 |
| Community Friendship Inc Atlanta, GA | Charitable Support | $50,000 |
| Inner-City Muslim Action Network Chicago, IL | Charitable Support | $50,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $-969,035 | $1,042,635 | $21,965,205 | $21,180,045 | 5 | $256,452 |
| 2024 | $21,453,535 | $1,853,226 | $4,240,820 | $3,343,470 | 50 | $1,608,163 |
| 2023 | $23,841,129 | $2,016,518 | $4,527,433 | $3,353,000 | 47 | $1,814,515 |
| 2022 | $26,352,044 | $12,178,022 | $3,942,238 | $3,200,000 | 53 | $12,614,591 |
| 2021 | $17,781,141 | $467,284 | $3,447,661 | $3,030,000 | 50 | $-32,716 |
| 2020 | $21,021,429 | $2,988,792 | $3,639,643 | $3,197,700 | 43 | $963,792 |
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The foundation’s stated mission is “to serve as a supporting organization for other charitable organizations.” Its program is direct grants to 501(c)(3) organizations that achieve charitable purposes.
The 2025 grants included support for organizations with varied missions. St. Croix Mission Outreach says it helps homeless people with addictions in the U.S. Virgin Islands become chemical-free and self-sufficient. Community Friendship says it supports people whose mental illnesses impede participation in community life, employment, and relationships. Candler Park Conservancy describes its work as engaging stakeholders and partnering with the City on a collective vision for the park. Inner-City Muslim Action Network says it fosters health, wellness, and healing in Chicago’s inner city through social change, arts, and a holistic health center.
Grantmaking
In filing year 2025, the foundation reported five grants totaling $21,180,045. Grant amounts ranged from $50,000 to $20,930,045, with a median of $50,000. The largest grant, $20,930,045 to Fidelity Investments Charitable Gift Fund, was designated as a transfer of remaining assets upon dissolution to support charitable missions. The other four grants were each reported as charitable support: $100,000 to St. Croix Mission Outreach and $50,000 each to Candler Park Conservancy, Community Friendship, and Inner-City Muslim Action Network.
In 2024, it reported 50 grants totaling $3,343,470; in 2023, it reported 47 grants totaling $3,353,000. The foundation described its grant review as coordinated by its board of directors and the Community Foundation of Greater Atlanta, with ongoing review of grantee operations.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing listed Suzanne Sackleh as chairman and Erin Drury, Wendy Moore, and Michael Masters as trustees.
The Waterfall Foundation Inc is led by Suzanne Sackleh, Chairman on every filing since 2024; none of the 4 officers listed in 2025 report compensation.
Officers on the 2025 filing
Suzanne Sackleh
Chairman
On filings since 2024
15 hrs/week
No compensation reported
Erin Drury
Trustee
On filings since 2020
0.5 hrs/week
No compensation reported
Michael Masters
Trustee
On filings since 2020
0.5 hrs/week
No compensation reported
Wendy Moore
Trustee
On filings since 2020
0.5 hrs/week
No compensation reported
Former officers (2)
- Former: Joe Smith (2020–2024) — Trustee
- Former: Suzanne Masters (2020–2023) — Chairman
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about The Waterfall Foundation Inc
How much does The Waterfall Foundation Inc give each year?
The Waterfall Foundation Inc gave $21.2M across 5 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $3.3M across 50 grants.
What is The Waterfall Foundation Inc's typical grant size?
The Waterfall Foundation Inc's median grant in 2025 was $50,000, and its average grant was $4,236,009, across 5 grants on its 2025 IRS Form 990.
Where does The Waterfall Foundation Inc give grants?
The Waterfall Foundation Inc gives mostly in Massachusetts: 99% of the grant dollars itemized on its 2025 IRS Form 990 went to recipients there. The most frequent recipient cities were Atlanta, GA (2 grants).
Does The Waterfall Foundation Inc give general operating support?
Not in 2025: none of the 5 grants with a stated purpose on The Waterfall Foundation Inc's 2025 IRS Form 990 were described as general or operating support. Recurring purposes include "Charitable Support" (4 grants).
Who are The Waterfall Foundation Inc's largest grantees?
The Waterfall Foundation Inc's largest 2025 grantees include Fidelity Investments Charitable Gift Fund ($20,930,045), St Croix Mission Outreach ($100,000) and Candler Park Conservancy ($50,000), according to its 2025 IRS Form 990.
What does The Waterfall Foundation Inc fund?
The foundation’s stated mission is “to serve as a supporting organization for other charitable organizations.” Its program is direct grants to 501(c)(3) organizations that achieve charitable purposes. See mission & focus areas ↑
How do I apply for a grant from The Waterfall Foundation Inc?
The Waterfall Foundation Inc has no public application process in the sources Grantable reviewed. Contact the foundation directly before submitting a request.
What is The Waterfall Foundation Inc's EIN?
The Waterfall Foundation Inc's EIN (Employer Identification Number) is 58-2442068. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated October 2026. Sourced from IRS Form 990 filings. Research dossier generated September 2026.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS May 13, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS May 16, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS April 13, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS February 15, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS November 12, 2024)
- Updated Form 990 for fiscal year 2025 (received by the IRS December 10, 2025)
- IRS filings on file for fiscal years 2020–2025
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Figures come from The Waterfall Foundation Inc's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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