The Waterwheel Foundation
The WaterWheel Foundation is a 501(c)(3) private grantmaking foundation established on April 22, 1997, by the rock band Phish to oversee the band's charitable activities. Based in New York City, the Foundation harnesses the generosity of the Phish fan community to support nonprofit organizations across the United States, with particular emphasis on Vermont-based organizations and communities where Phish tours.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$15.6M
-4.8% YoY
Annual Giving
$4.0M
+95.2% YoY
Grant Count
75
-7.4% YoY
Avg Grant Size
$54K
+110.8% YoY
Under IRS private-foundation payout rules, The Waterwheel Foundation reported a distributable amount of $788K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The WaterWheel Foundation's mission is to create positive change by supporting nonprofit organizations based in Vermont—especially those focused on cleaning up the Lake Champlain watershed—as well as nonprofits local to each community where Phish's tour stops through the Foundation's Touring Division.
The Foundation supports beneficiaries across a wide spectrum of causes, including:
- Environmental protection
- Social justice
- Food insecurity
- Music education
- Voter registration
- Support for women and children
- Services for homeless and other vulnerable populations
Grantmaking
The Foundation has donated millions of dollars to over 500 nonprofit organizations since its creation. In 2023, the Foundation made grants totaling $2,061,967 across 64+ grants.
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Geographic Focus
Where this funder awards grants
The Foundation funds nationally, with particular concentration in:
- Vermont (primary focus)
- Communities where Phish tours
- Lake Champlain watershed region (Vermont/New York border)
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2023:
- Total Assets: $16,407,951
- Total Revenue: $6,953,692
- Total Expenses: $2,105,482
- Total Liabilities: $40,300
Tax Status: Tax-exempt since December 1997 EIN: 13-3948773
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $15,615,283 | $16,407,951 | $11,724,626 |
| Revenue | $3,289,686 | $6,953,692 | $3,397,915 |
| Expenses | $4,092,654 | $2,105,482 | $1,378,425 |
| Qualifying Distributions | $4,024,071 | $2,061,967 | $1,336,994 |
| Net Investment Income | $813,929 | $428,730 | $363,004 |
| Distributable Amount | $787,700 | $650,160 | $510,579 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
250 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Kin Beh Education Center Foundation ($75,000), Burlington City Arts ($50,000), Hope for the City ($47,765).
| Recipient | Purpose | Amount |
|---|---|---|
| ONE PERCENT FOR THE PLANET BURLINGTON, VT | GENERAL | $1,736 |
| AFRAS DONATIONS FISH CREEK, WI | GENERAL | $4,750 |
| AGE WELL COLCHESTER, VT | GENERAL | $15,000 |
| AMERICAN RED CROSS BURLINGTON, VT | GENERAL | $25,000 |
| AUNT DOT'S PLACE ESSEX JUNCTION, VT | GENERAL | $10,000 |
| BURLINGTON CITY ARTS BURLINGTON, VT | GENERAL | $50,000 |
| BREWSTER PIERCE MEMORIAL SCHOOL HUNGTINTON, VT | GENERAL | $2,100 |
| CAMDEN INTERNATIONAL FILM FESTIVAL CAMDEN, ME | GENERAL | $10,000 |
| CATSKILL MOUNTAIN KEEPER HURLEYVILLE, NY | GENERAL | $8,972 |
| CHAMPLAIN VALLEY OFFICE BURLINGTON, VT | GENERAL | $40,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
- President: Ernest Anastasio III
- Treasurer: Michael Gordon
- Secretary: Page McConnell
- Vice President: Jonathan Fishman
These four individuals are the members of the band Phish, who founded the organization.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| ERNEST ANASTASIO III | PRESIDENT | 1 | — |
| MICHAEL GORDON | VP | 1 | — |
| PAGE MCCONNELL | VP | 1 | — |
| JONATHAN FISHMAN | VP | 1 | — |
| BETH MONTUORI ROWLES | SECRETARY | 6 | — |
| BURTON GOLDSTEIN | TREASURER | 2 | — |
Recent News & Activity
Recent developments and announcements
The Foundation continues active grantmaking and community engagement. Recent tour-related activities include:
Adirondack Foundation grants more than $1M to community ...**2024 Mexico Run** (February 21-24, Riviera Maya): Centro Educativo K'iin Beh
**2024 Sphere Run** (April 18-21, Las Vegas): Hope For the City
**2024 Summer Tour** (July 1 onwards)
The Foundation maintains an active volunteer program and voter registration initiatives. The organization has been operating for over 25 years and continues to expand its impact through both direct grants and community partnerships.
Adirondack Foundation grants more than $1M to community ...Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does The Waterwheel Foundation fund?
The WaterWheel Foundation's mission is to create positive change by supporting nonprofit organizations based in Vermont—especially those focused on cleaning up the Lake Champlain watershed—as well as nonprofits local to each community where Phish's tour stops through the Foundation's Touring Division. The Foundation supports beneficiaries across a wide spectrum of causes, including: • Environmental protection • Social justice • Food insecurity • Music education • Voter registration • Support fo…
How do I apply for a grant from The Waterwheel Foundation?
The Foundation has donated millions of dollars to over 500 nonprofit organizations since its creation. In 2023, the Foundation made grants totaling $2,061,967 across 64+ grants. Recent grant recipients include: • Vermont Community Foundation ($800,000) • Players Philanthropy Fund ($87,000) • Steps to End Domestic Violence ($76,648) The Foundation operates through two primary divisions: **Touring Division**: Collects donations for local nonprofit organizations in communities where Phish performs…
Where does The Waterwheel Foundation make grants?
The Foundation funds nationally, with particular concentration in: • Vermont (primary focus) • Communities where Phish tours • Lake Champlain watershed region (Vermont/New York border)
What size grants does The Waterwheel Foundation award?
In 2024, The Waterwheel Foundation awarded 75 grants totaling $4.0M — an average of about $54K per grant, based on its IRS Form 990 filings.
How much is The Waterwheel Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Waterwheel Foundation reported a distributable amount of $788K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Waterwheel Foundation's EIN?
The Waterwheel Foundation's EIN (Employer Identification Number) is 13-3948773. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in The Waterwheel Foundation's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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