TY 2014 Form 990

(A) Name and Title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)	(E) Reportable compensation from related organizations (W- 2/1099-MISC)
(1) DENISE L KRUGER........................................................................ CHAIR	1.0 .......................0.0	X	X
(2) CHARLES M MURRAY........................................................................ VICE CHAIR	1.0 .......................0.0	X	X
(3) PATRICIA MULROY........................................................................ TREASURER through 01/2014	1.0 .......................0.0	X	X
(4) DENNIS W DOLL........................................................................ TREASURER as of 02/2014	1.0 .......................0.0	X	X
(5) BARRETT MURPHY........................................................................ MEMBER-AT-LARGE	1.0 .......................0.0	X
(6) JOSEPH A BELLA........................................................................ TRUSTEE through 06/2014	1.0 .......................0.0	X
(7) JOHN DYKSEN........................................................................ TRUSTEE	1.0 .......................0.0	X
(8) GREGORY C HEITZMAN........................................................................ TRUSTEE	1.0 .......................0.0	X
(9) RAYMOND HOFFMAN........................................................................ TRUSTEE	1.0 .......................0.0	X
(10) JERRY JOHNSON........................................................................ TRUSTEE	1.0 .......................0.0	X
(11) NILAKSH KOTHARI........................................................................ TRUSTEE	1.0 .......................0.0	X
(12) BRUCE P KRAEUTER........................................................................ TRUSTEE through 06/2014	1.0 .......................0.0	X
(13) JAMES LOCHHEAD........................................................................ TRUSTEE	1.0 .......................0.0	X
(14) DEBRA MAN........................................................................ TRUSTEE	1.0 .......................0.0	X
(15) SCOTT POTTER........................................................................ TRUSTEE	1.0 .......................0.0	X
(16) ROBERT PRITCHARD........................................................................ TRUSTEE	1.0 .......................0.0	X
(17) JO M JODY PUCKETT........................................................................ TRUSTEE	1.0 .......................0.0	X

(A) Name and Title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)	(E) Reportable compensation from related organizations (W- 2/1099-MISC)
(18) PAUL RUSH........................................................................ TRUSTEE	1.0 .......................0.0	X			0	0
(19) STEPHEN SCHNEIDER........................................................................ TRUSTEE	1.0 .......................0.0	X			0	0
(20) ROBERT TEEGARDEN........................................................................ TRUSTEE	1.0 .......................0.0	X			0	0
(21) KEVIN YOUNG........................................................................ TRUSTEE	1.0 .......................0.0	X			0	0
(22) GARY A BURLINGAME EX OFFICIO........................................................................ TRUSTEE THROUGH 06/2014	1.0 .......................0.0	X			0	0
(23) JOHN BIGELOW........................................................................ TRUSTEE	1.0 .......................0.0	X			0	0
(24) ALEX COATE........................................................................ TRUSTEE	1.0 .......................0.0	X			0	0
(25) LISA SPARROW........................................................................ TRUSTEE	1.0 .......................0.0	X			0	0
(26) CARL YATES........................................................................ EX OFFICIO TRUSTEE	1.0 .......................0.0	X			0	0
(27) ROBERT C RENNER........................................................................ SECRETARY/EXECUTIVE DIRECTOR	40.0 .......................0.0		X		324,113	23,918
(28) TANIA HASKINS........................................................................ DIRECTOR-FINANCE & ADMIN SVCS	40.0 .......................0.0		X		144,145	22,778
(29) CHRISTOPHER RAYBURN........................................................................ DIRECTOR-RESEARCH MANAGEMENT	40.0 .......................0.0			X	132,062	45,594
(30) JILL THIARE........................................................................ DIRECTOR-COMMUN & MARKETING	40.0 .......................0.0			X	107,032	21,395

(A) Name and business address	(B) Description of services	(C) Compensation
bross group, 12600 w colfax ave suite c-480 LAKEWOOD,CO80215	it management	820,869
HDR ENGINEERING INC, 1670 BROADWAY SUITE 3400 DENVER,CO80202	PROJECT RESEARCH	599,185
JACOBS ENGINEERING GROUP, 707 17TH ST SUITE 2300 DENVER,CO80202	PROJECT RESEARCH	424,279
CAROLLO ENGINEERS INC, PO BOX 53511 PHOENIX,AZ85072	PROJECT RESEARCH	399,355
MHW AMERICAS INC, 618 MICHILLINDA AVE SUITE 200 ARCADA,CA91007	PROJECT RESEARCH	360,332
2 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 29

Do not include amounts reported on lines 6b, 7b, 8b, 9b, and 10b of Part VIII.	(A) Total expenses	(B) Program service expenses	(C) Management and general expenses	(D) Fundraising expenses
1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....	0
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ....	0
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16 ............	0
4	Benefits paid to or for members ....	0
5	Compensation of current officers, directors, trustees, and key employees ....	514,953	0	514,953	0
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ....	0
7	Other salaries and wages ....	2,797,948	1,734,561	923,253	140,134
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	426,662	163,027	246,845	16,790
9	Other employee benefits .......	626,439	239,360	362,425	24,654
10	Payroll taxes ...........	232,440	88,814	134,478	9,148
11	Fees for services (non-employees):
a	Management ......	0
b	Legal .........	15,339		15,339
c	Accounting ...........	21,057		21,057
d	Lobbying ...........	0
e	Professional fundraising services. See Part IV, line 17	0
f	Investment management fees ......	0
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) ....	131,737	13,289	118,448
12	Advertising and promotion ....	84,278		84,278
13	Office expenses .......	42,963		42,963
14	Information technology ......	480,043	75,914	404,129
15	Royalties ..	0
16	Occupancy ...........	119,626		119,626
17	Travel ............	526,821	355,803	73,933	97,085
18	Payments of travel or entertainment expenses for any federal, state, or local public officials ......	0
19	Conferences, conventions, and meetings ....	32,402	32,402
20	Interest ...........	0
21	Payments to affiliates .......	19,273		19,273
22	Depreciation, depletion, and amortization .....	50,508		50,508
23	Insurance ..............	35,279		35,279
24	Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a	RESEARCH CONTRACTS	7,800,860	7,800,860
b	APPLIED OVERHEAD	1,207,055	1,110,738		96,317
c	PUBLICATIONS/PRINTING	119,517		119,517
d	STAFF TRAINING	17,575		17,575
e	All other expenses	133,897	123,296	10,601
25	Total functional expenses. Add lines 1 through 24e	15,436,672	11,738,064	3,314,480	384,128
26	Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).

Part X Balance Sheet Check if Schedule O contains a response or note to any line in this Part X ..............
	1	Cash–non-interest-bearing .............	2,320,595	1	2,725,210
2	Savings and temporary cash investments .........	6,763,787	2	7,370,222
3	Pledges and grants receivable, net ...........	862,273	3	830,571
4	Accounts receivable, net .............	637,856	4	943,950
5	Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of Schedule L ..................
		0	5	0
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L
		0	6	0
7	Notes and loans receivable, net .............	0	7	0
8	Inventories for sale or use ..............	0	8	0
9	Prepaid expenses and deferred charges ..........	136,828	9	134,392
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	934,563
b	Less: accumulated depreciation .....	10b	494,569	166,790	10c	439,994
11	Investments—publicly traded securities ..........	417,448	11	405,840
12	Investments—other securities. See Part IV, line 11 .....	5,630,698	12	3,931,681
13	Investments—program-related. See Part IV, line 11 .....	0	13	0
14	Intangible assets ...............	0	14	0
15	Other assets. See Part IV, line 11 ...........	15,623	15	11,931
16	Total assets. Add lines 1 through 15 (must equal line 34)......	16,951,898	16	16,793,791
	17	Accounts payable and accrued expenses .........	513,145	17	715,081
18	Grants payable .................	0	18	0
19	Deferred revenue ................	2,645,441	19	2,837,719
20	Tax-exempt bond liabilities .............	0	20	0
21	Escrow or custodial account liability. Complete Part IV of Schedule D..	0	21	0
22	Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
	persons. Complete Part II of Schedule L..........	0	22	0
23	Secured mortgages and notes payable to unrelated third parties ..	0	23	0
24	Unsecured notes and loans payable to unrelated third parties ....	0	24	0
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D....................	1,903,254	25	2,957,153
26	Total liabilities. Add lines 17 through 25.........	5,061,840	26	6,509,953
		Organizations that follow SFAS 117 (ASC 958), check here and complete lines 27 through 29, and lines 33 and 34.
27	Unrestricted net assets ..............	11,890,058	27	10,283,838
28	Temporarily restricted net assets ...........	0	28	0
29	Permanently restricted net assets ...........	0	29	0
	Organizations that do not follow SFAS 117 (ASC 958), check here and complete lines 30 through 34.
30	Capital stock or trust principal, or current funds ........		30
31	Paid-in or capital surplus, or land, building or equipment fund .....		31
32	Retained earnings, endowment, accumulated income, or other funds		32
33	Total net assets or fund balances ...........	11,890,058	33	10,283,838
34	Total liabilities and net assets/fund balances ........	16,951,898	34	16,793,791

- TIN:

SCHEDULE A
(Form 990 or 990EZ)

Department of the Treasury
Internal Revenue Service

Public Charity Status and Public Support

Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
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Attach to Form 990 or Form 990-EZ.
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Information about Schedule A (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public
Inspection

Name of the organization

Water Research Foundation

Employer identification number

13-6211384

Part I

Reason for Public Charity Status (All organizations must complete this part.) See instructions.

The organization is not a private foundation because it is: (For lines 1 through 11, check only one box.)

A church, convention of churches, or association of churches described in section 170(b)(1)(A)(i).

A school described in section 170(b)(1)(A)(ii). (Attach Schedule E.)

A hospital or a cooperative hospital service organization described in section 170(b)(1)(A)(iii).

A medical research organization operated in conjunction with a hospital described in section 170(b)(1)(A)(iii). Enter the hospital's name, city, and state:

An organization operated for the benefit of a college or university owned or operated by a governmental unit described in

section 170(b)(1)(A)(iv). (Complete Part II.)

A federal, state, or local government or governmental unit described in section 170(b)(1)(A)(v).

An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi). (Complete Part II.)

A community trust described in section 170(b)(1)(A)(vi). (Complete Part II.)

An organization that normally receives: (1) more than 331/3% of its support from contributions, membership fees, and gross

receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 331/3% of

its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses

acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)

An organization organized and operated exclusively to test for public safety. See section 509(a)(4).

An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2). See section 509(a)(3). Check the box in lines 11a through 11d that describes the type of supporting organization and complete lines 11e, 11f, and 11g.

Type I. A supporting organization operated, supervised, or controlled by its supported organization(s), typically by giving the supported organization(s) the power to regularly appoint or elect a majority of the directors or trustees of the supporting organization. You must complete Part IV, Sections A and B.

Type II. A supporting organization supervised or controlled in connection with its supported organization(s), by having control or management of the supporting organization vested in the same persons that control or manage the supported organization(s). You must complete Part IV, Sections A and C.

Type III functionally integrated. A supporting organization operated in connection with, and functionally integrated with, its supported organization(s) (see instructions). You must complete Part IV, Sections A, D, and E.

Type III non-functionally integrated. A supporting organization operated in connection with its supported organization(s) that is not functionally integrated. The organization generally must satisfy a distribution requirement and an attentiveness requirement (see instructions). You must complete Part IV, Sections A and D, and Part V.

Check this box if the organization received a written determination from the IRS that it is a Type I, Type II, Type III functionally integrated, or Type III non-functionally integrated supporting organization.

Enter the number of supported organizations .............................

Provide the following information about the supported organization(s).

(i)Name of supported organization	(ii) EIN	(iv) Is the organization listed in your governing document?		(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)
(i)Name of supported organization	(ii) EIN	Yes	No	(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)


Total

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990EZ.

Cat. No. 11285F

Schedule A (Form 990 or 990-EZ) 2014

Page 2

Part II

Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization fails to qualify under the tests listed below, please complete Part III.)

Section A. Public Support

Calendar year (or fiscal year beginning in)		(a) 2010	(b) 2011	(c) 2012	(d) 2013	(e) 2014	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") ....	13,097,238	12,550,203	13,110,112	12,604,883	12,659,913	64,022,349
2	Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.......						0
3	The value of services or facilities furnished by a governmental unit to the organization without charge..						0
4	Total. Add lines 1 through 3	13,097,238	12,550,203	13,110,112	12,604,883	12,659,913	64,022,349
5	The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f)..						1,300,816
6	Public support. Subtract line 5 from line 4.						62,721,533

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2010	(b) 2011	(c) 2012	(d) 2013	(e) 2014	(f) Total
7	Amounts from line 4..	13,097,238	12,550,203	13,110,112	12,604,883	12,659,913	64,022,349
8	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources...	458,847	344,335	259,252	139,347	95,333	1,297,114
9	Net income from unrelated business activities, whether or not the business is regularly carried on..						0
10	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.)..						0
11	Total support Add lines 7 through 10.						65,319,463

Gross receipts from related activities, etc. (see instructions) ..................

17,808,863

First five years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here........................................ right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2014 (line 6, column (f) divided by line 11, column (f)) .........

96.023 %

Public support percentage for 2013 Schedule A, Part II, line 14 ...............

95.474 %

16a

33 1/3% support test—2014. If the organization did not check the box on line 13, and line 14 is 33 1/3% or more, check this box
and stop here. The organization qualifies as a publicly supported organization ....................... right arrow

33 1/3% support test—2013. If the organization did not check a box on line 13 or 16a, and line 15 is 33 1/3% or more, check this
box and stop here. The organization qualifies as a publicly supported organization ..................... right arrow

17a

10%-facts-and-circumstances test—2014. If the organization did not check a box on line 13, 16a, or 16b, and line 14
is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain
in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported
organization ..................................................... right arrow

10%-facts-and-circumstances test—2013. If the organization did not check a box on line 13, 16a, 16b, or 17a, and line
15 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here.
Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly
supported organization ................................................ right arrow

Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow

Schedule A (Form 990 or 990-EZ) 2014

Page 3

Part III

Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 9 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)

Section A. Public Support

Calendar year (or fiscal year beginning in)		(a) 2010	(b) 2011	(c) 2012	(d) 2013	(e) 2014	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .
2	Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose......
3	Gross receipts from activities that are not an unrelated trade or business under section 513..
4	Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...
5	The value of services or facilities furnished by a governmental unit to the organization without charge..
6	Total. Add lines 1 through 5.
7a	Amounts included on lines 1, 2, and 3 received from disqualified persons...
b	Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.
c	Add lines 7a and 7b..
8	Public support (Subtract line 7c from line 6.)

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2010	(b) 2011	(c) 2012	(d) 2013	(e) 2014	(f) Total
9	Amounts from line 6...
10a	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..
b	Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.
c	Add lines 10a and 10b.
11	Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on.
12	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) ..
13	Total support. (Add lines 9, 10c, 11, and 12.)..

First five years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization,
check this box and stop here............................................. right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2014 (line 8, column (f) divided by line 13, column (f)) .........

Public support percentage from 2013 Schedule A, Part III, line 15 ...............

Section D. Computation of Investment Income Percentage

Investment income percentage for 2014 (line 10c, column (f) divided by line 13, column (f)) ......

Investment income percentage from 2013 Schedule A, Part III, line 17 .............

19a

33 1/3% support tests—2014. If the organization did not check the box on line 14, and line 15 is more than 33 1/3%, and line 17 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ....... right arrow

33 1/3% support tests—2013. If the organization did not check a box on line 14 or line 19a, and line 16 is more than 33 1/3% and line 18 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization .... right arrow

Private foundation. If the organization did not check a box on line 14, 19a, or 19b, check this box and see instructions .... right arrow

Schedule A (Form 990 or 990-EZ) 2014

Page 4

Part IV

Supporting Organizations

(Complete only if you checked a box on line 11 of Part I. If you checked 11a of Part I, complete Sections A and B. If you checked 11b of Part I, complete Sections A and C. If you checked 11c of Part I, complete Sections A, D, and E. If you checked 11d of Part I, complete Sections A and D, and complete Part V.)

Section A. All Supporting Organizations

Yes

Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.

Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).

Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer (b) and (c) below.

Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.

Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.

Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked 11a or 11b in Part I, answer (b) and (c) below.

Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations....

Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.

Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer (b) and (c) below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed, (ii) the reasons for each such action, (iii) the authority under the organization's organizing document authorizing such action, and (iv) how the action was accomplished (such as by amendment to the organizing document).

Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?

Substitutions only. Was the substitution the result of an event beyond the organization's control?

Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (a) its supported organizations; (b) individuals that are part of the charitable class benefited by one or more of its supported organizations; or (c) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.

Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in IRC 4958(c)(3)(C)), a family member of a substantial contributor, or a 35-percent controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990) .

Did the organization make a loan to a disqualified person (as defined in section 4958) not described in line 7? If “Yes,” complete Part II of Schedule L (Form 990).

Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.

Did one or more disqualified persons (as defined in line 9(a)) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.

Did a disqualified person (as defined in line 9(a)) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.

10a

Was the organization subject to the excess business holdings rules of IRC 4943 because of IRC 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer b below.

10a

Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).

10b

Has the organization accepted a gift or contribution from any of the following persons?

A person who directly or indirectly controls, either alone or together with persons described in (b) and (c) below, the governing body of a supported organization?

11a

A family member of a person described in (a) above?

11b

A 35% controlled entity of a person described in (a) or (b) above? If “Yes” to a, b, or c, provide detail in Part VI.

11c

Schedule A (Form 990 or 990-EZ) 2014

Page 5

Part IV

Supporting Organizations (continued)

Section B. Type I Supporting Organizations

Yes

Did the directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.

Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.

Section C. Type II Supporting Organizations

Yes

Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).

Section D. All Type III Supporting Organizations

Yes

Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (1) a written notice describing the type and amount of support provided during the prior tax year, (2) a copy of the Form 990 that was most recently filed as of the date of notification, and (3) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?

Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).

By reason of the relationship described in (2), did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.

Section E. Type III Functionally-Integrated Supporting Organizations

Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):

The organization satisfied the Activities Test. Complete line 2 below.

The organization is the parent of each of its supported organizations. Complete line 3 below.

The organization supported a governmental entity. Describe in Part VI how you supported a government entity (see instructions)

Activities Test. Answer (a) and (b) below.

Yes

Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.

Did the activities described in (a) constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.

Parent of Supported Organizations. Answer (a) and (b) below.

Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations? Provide details in Part VI.

Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI the role played by the organization in this regard.

Schedule A (Form 990 or 990-EZ) 2014

Page 6

Part V – Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations

1. Check here if the organization satisfied the Integral Part Test as a qualifying trust on Nov. 20, 1970. See instructions. All other Type III non-functionally integrated supporting organizations must complete Sections A through E.

	Section A - Adjusted Net Income		(A) Prior Year	(B) Current Year (optional)
1	Net short-term capital gain	1
2	Recoveries of prior-year distributions	2
3	Other gross income (see instructions)	3
4	Add lines 1 through 3	4
5	Depreciation and depletion	5
6	Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions)	6
7	Other expenses (see instructions)	7
8	Adjusted Net Income (subtract lines 5, 6 and 7 from line 4)	8

	Section B - Minimum Asset Amount		(A) Prior Year	(B) Current Year (optional)
1	Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year):	1
a	Average monthly value of securities	1a
b	Average monthly cash balances	1b
c	Fair market value of other non-exempt-use assets	1c
d	Total (add lines 1a, 1b, and 1c)	1d
e	Discount claimed for blockage or other factors (explain in detail in Part VI):
2	Acquisition indebtedness applicable to non-exempt use assets	2
3	Subtract line 2 from line 1d	3
4	Cash deemed held for exempt use. Enter 1-1/2% of line 3 (for greater amount, see instructions).	4
5	Net value of non-exempt-use assets (subtract line 4 from line 3)	5
6	Multiply line 5 by .035	6
7	Recoveries of prior-year distributions	7
8	Minimum Asset Amount (add line 7 to line 6)	8

	Section C - Distributable Amount		Current Year
1	Adjusted net income for prior year (from Section A, line 8, Column A)	1
2	Enter 85% of line 1	2
3	Minimum asset amount for prior year (from Section B, line 8, Column A)	3
4	Enter greater of line 2 or line 3	4
5	Income tax imposed in prior year	5
6	Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions)	6
7	Check here if the current year is the organization's first as a non-functionally-integrated Type III supporting organization (see instructions)

Schedule A (Form 990 or 990-EZ) 2014

Page 7

Section D - Distributions		Current Year
1 Amounts paid to supported organizations to accomplish exempt purposes
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity
3 Administrative expenses paid to accomplish exempt purposes of supported organizations
4 Amounts paid to acquire exempt-use assets
5 Qualified set-aside amounts (prior IRS approval required)
6 Other distributions (describe in Part VI). See instructions
7Total annual distributions. Add lines 1 through 6.
8 Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions
9 Distributable amount for 2014 from Section C, line 6
10 Line 8 amount divided by Line 9 amount

Section E - Distribution Allocations (see instructions)		(i) Excess Distributions	(ii) Underdistributions Pre-2014	(iii) Distributable Amount for 2014
1 Distributable amount for 2014 from Section C, line 6
2 Underdistributions, if any, for years prior to 2014 (reasonable cause required--see instructions)
3 Excess distributions carryover, if any, to 2014:
a From 2009.......X
b From 2010.......X
c From 2011.......X
d From 2012.......X
e From 2013.......
fTotal of lines 3a through e
g Applied to underdistributions of prior years
h Applied to 2014 distributable amount
i Carryover from 2009 not applied (see instructions)
j Remainder. Subtract lines 3g, 3h, and 3i from 3f.
4Distributions for 2014 from Section D, line 7:
$
a Applied to underdistributions of prior years
b Applied to 2014 distributable amount
c Remainder. Subtract lines 4a and 4b from 4.
5 Remaining underdistributions for years prior to 2014, if any. Subtract lines 3g and 4a from line 2 (if amount greater than zero, see instructions)
6 Remaining underdistributions for 2014. Subtract lines 3h and 4b from line 1 (if amount greater than zero, see instructions)
7 Excess distributions carryover to 2015. Add lines 3j and 4c.
8 Breakdown of line 7:
a From 2010.......X
b From 2011.......X
c From 2012.......X
d From 2013.......
e From 2014.......

Schedule A (Form 990 or 990-EZ) (2014)

Schedule A (Form 990 or 990-EZ) 2014

Page 8

Part VI

Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).

Facts And Circumstances Test

Return Reference	Explanation

Schedule A (Form 990 or 990-EZ) 2014

Additional Data

Software ID:
Software Version:

- TIN:

Schedule B
(Form 990, 990-EZ,
or 990-PF)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

Information about Schedule B (Form 990, 990-EZ, or 990-PF) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Name of the organization

Water Research Foundation

Employer identification number

13-6211384

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

Check if your organization is covered by the General Rule or a Special Rule.
Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.

General Rule

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or
property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Do not complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Arrow Bullet

Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it does not meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).

For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.

Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Page 2

Name of organization Water Research Foundation

Part I	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
RESTRICTED	,	$RESTRICTED	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Page 3

Name of organization Water Research Foundation

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Page 4

Name of organization
Water Research Foundation

Employer identification number

13-6211384

Part III

Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10)
that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet

$
Use duplicate copies of Part III if additional space is needed.

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Financial Statements

Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
SchDMd Bullet

Attach to Form 990.
Information about Schedule D (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization

Water Research Foundation

Employer identification number

13-6211384

Part I

Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.

		(a) Donor advised funds	(b) Funds and other accounts
1	Total number at end of year .........
2	Aggregate value of contributions to (during year)
3	Aggregate value of grants from (during year)
4	Aggregate value at end of year ........

Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ............

Yes No

Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................

Yes No

Part II

Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.

Purpose(s) of conservation easements held by the organization (check all that apply).

Preservation of land for public use (e.g., recreation or education) Preservation of an historically important land area

Protection of natural habitat Preservation of a certified historic structure

Preservation of open space

Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.


a	Total number of conservation easements .......................	2a
b	Total acreage restricted by conservation easements ..................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after 8/17/06, and not on a historic structure listed in the National Register ....................	2d

Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the tax year SchDMd Bullet

Number of states where property subject to conservation easement is located SchDMd Bullet

Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................

Yes No

Staff and volunteer hours devoted to monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet

Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet

Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .......................................

Yes No

In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" to Form 990, Part IV, line 8.

If the organization elected, as permitted under SFAS 116 (ASC 958), not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.

If the organization elected, as permitted under SFAS 116 (ASC 958), to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:

(i)

Revenue included in Form 990, Part VIII, line 1 ........................ SchDMd Bullet

(ii)

Assets included in Form 990, Part X .............................. SchDMd Bullet

If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 (ASC 958) relating to these items:

Revenue included in Form 990, Part VIII, line 1 .......................... SchDMd Bullet

Assets included in Form 990, Part X ............................... SchDMd Bullet

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 52283D

Schedule D (Form 990) 2014

Page 2

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)

Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):

Public exhibition

Loan or exchange programs

Scholarly research

Other

Preservation for future generations

Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.

During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?........

Yes No

Part IV

Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990,
Part IV, line 9, or reported an amount on Form 990, Part X, line 21.

Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................

Yes No

If "Yes," explain the arrangement in Part XIII and complete the following table:


c	Beginning balance .................................	1c
d	Additions during the year ..............................	1d
e	Distributions during the year .............................	1e
f	Ending balance ...................................	1f

Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability?

Yes No

If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII .......

Part V

Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.

		(a)Current year	(b)Prior year	b (c)Two years back	(d)Three years back	(e)Four years back
1a	Beginning of year balance ....
b	Contributions ........
c	Net investment earnings, gains, and losses
d	Grants or scholarships .....
e	Other expenditures for facilities and programs ........
f	Administrative expenses ....
g	End of year balance ......

Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:

Board designated or quasi-endowment SchDMd Bullet

Permanent endowment SchDMd Bullet

Temporarily restricted endowment SchDMd Bullet

The percentages in lines 2a, 2b, and 2c should equal 100%.

Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes

(i) unrelated organizations ........................

3a(i)

(ii) related organizations ........................

3a(ii)

If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........

Describe in Part XIII the intended uses of the organization's endowment funds.

Part VI

Land, Buildings, and Equipment. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11a. See Form 990, Part X, line 10.

Description of property		(b)Cost or other basis (other)	(c) Accumulated depreciation	(d) Book value
1a	Land .................
b	Buildings ................
c	Leasehold improvements ............	37,666	13,722	23,944
d	Equipment ................	31,097	10,951	20,146
e	Other .................	865,800	469,896	395,904
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).).......				439,994

Schedule D (Form 990) 2014

Page 3

Part VII

InvestmentsOther Securities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11b. See Form 990, Part X, line 12.

(a) Description of security or category (including name of security)	(b)Book value	(c) Method of valuation: Cost or end-of-year market value
(1)Financial derivatives
(2)Closely-held equity interests
(3)Other (A) NON-CURRENT CDS	3,931,681	F








Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)	3,931,681

Part VIII

InvestmentsProgram Related. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11c. See Form 990, Part X, line 13.

(a) Description of investment		(b) Book value	(c) Method of valuation: Cost or end-of-year market value









Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)

Part IX

Other Assets. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11d. See Form 990, Part X, line 15.

(a) Description				(b) Book value









Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........

Part X

Other Liabilities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.

1.(a) Description of liability		(b) Book value
Federal income taxes		0
ACCRUED PENSION LIABILITY		1,951,581
ACCRUED RESEARCH CONTRACTS		1,005,572







Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)		2,957,153
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII

Schedule D (Form 990) 2014

Page 4

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......			1	13,830,452
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a	-161,622
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ............	2d	-1,443,918
e	Add lines 2a through 2d .....................			2e	-1,605,540
3	Subtract line 2e from line 1.....................			3	15,435,992
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b.......................			4c
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......			5	15,435,992

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........		1	15,436,672
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities ..........	2a
b	Prior year adjustments ..............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d......................		2e
3	Subtract line 2e from line 1.....................		3	15,436,672
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a
b	Other (Describe in Part XIII.) ............	4b
c	Add lines 4a and 4b.......................		4c
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......		5	15,436,672

Part XIII

Supplemental Information

Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.

Return Reference	Explanation
Uncertain Tax Positions	Schedule D, Part X, Line 2 Management has evaluated their income tax positions under the guidance included in ASC 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.
Revenue on books, not on return	Change in Minimum Pension Liability (1,443,918)

Schedule D (Form 990) 2014

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE F(Form 990)

Department of the Treasury
Internal Revenue Service

Statement of Activities Outside the United States

Complete if the organization answered "Yes" to Form 990,Part IV, line 14b, 15, or 16. Right pointing arrow large image

Attach to Form 990. Right pointing arrow large image

Information about Schedule F (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization
Water Research Foundation

Employer identification number

13-6211384

Part I

General Information on Activities Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 14b.

For grantmakers. Does the organization maintain records to substantiate the amount of its grants

and other assistance, the grantees’ eligibility for the grants or assistance, and the selection criteria

used to award the grants or assistance? ...........................

Yes

For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of its grants and other assistance outside the United States.

Activites per Region. (The following Part I, line 3 table can be duplicated if additional space is needed.)

(a) Region		(d) Activities conducted in region (by type) (e.g., fundraising, program services, investments, grants to recipients located in the region)	(e) If activity listed in (d) is a program service, describe specific type of service(s) in region	(f) Total expenditures for and investments in region
	East Asia and the Pacific	Program Services	RESEARCH CONTRACTS	389,799
	Europe (Including Iceland and Greenland)	Program Services	RESEARCH CONTRACTS	292,076
	North America	Program Services	RESEARCH CONTRACTS	223,846
	East Asia and the Pacific	Program Services	TRAVEL TO PAC MEETINGS	11,336
	North America	Program Services	TRAVEL TO PAC MEETINGS	12,468
	East Asia and the Pacific	Program Services	TRAVEL TO CONFERENCES	9,968
	Europe (Including Iceland and Greenland)	Program Services	TRAVEL TO CONFERENCES	5,193
	North America	Program Services	TRAVEL TO CONFERENCES	1,302
	East Asia and the Pacific	Program Services	TRAVEL TO MEETINGS	14,262
	Europe (Including Iceland and Greenland)	Program Services	TRAVEL TO MEETINGS	11,041
	North America	Program Services	TRAVEL TO MEETINGS	7,089
	Europe (Including Iceland and Greenland)	Program Services	TRAVEL TO WORKSHOPS	3,763
	North America	Program Services	TRAVEL TO WORKSHOPS	17,364
	East Asia and the Pacific	Program Services	SUBSCRIPTION REVENUE
	Europe (Including Iceland and Greenland)	Program Services	SUBSCRIPTION REVENUE
	North America	Program Services	SUBSCRIPTION REVENUE
	East Asia and the Pacific	Program Services	CO-FUNDING REVENUE
	Europe (Including Iceland and Greenland)	Program Services	CO-FUNDING REVENUE
	North America	Program Services	CO-FUNDING REVENUE
3a	Sub-total .....			999,507
b	Total from continuation sheets to Part I ...
c	Totals (add lines 3a and 3b)			999,507

For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2014

Schedule F (Form 990) 2014

Page 2

Part II

Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 15, for any recipient who received more than $5,000. Part II can be duplicated if additional space is needed.

1 (a) Name of organization		(b) IRS code section and EIN (if applicable)	(a)(c) Region	(b)(d) Purpose of grant	(e) Amount of cash grant	(f) Manner of cash disbursement	(g) Amount of non-cash assistance	(h) Description of non-cash assistance	(i) Method of valuation (book, FMV, appraisal, other)

Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter .... MediumBullet

Enter total number of other organizations or entities ....................... MediumBullet

Schedule F (Form 990) 2014

Schedule F (Form 990) 2014Page 3

Part III

Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 16.

Part III can be duplicated if additional space is needed.

(a) Type of grant or assistance		(b) Region	(c) Number of recipients	(d) Amount of cash grant	(e) Manner of cash disbursement	(f) Amount of non-cash assistance	(g) Description of non-cash assistance	(h) Method of valuation (book, FMV, appraisal, other)

Schedule F (Form 990) 2014

Page 4

Part IV

Foreign Forms

Schedule F (Form 990) 2014

Page 5

Part V

Supplemental Information
Provide the information required by Part I, line 2 (monitoring of funds); Part I, line 3, column (f) (accounting method; amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part III (accounting method); and Part III, column (c) (estimated number of recipients), as applicable. Also complete this part to provide any additional information (see instructions).

ReturnReference	Explanation

Schedule F (Form 990) 2014

Additional Data

Software ID:
Software Version:

- TIN:

Schedule J
(Form 990)

Department of the Treasury
Internal Revenue Service

Compensation Information

For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet

Complete if the organization answered "Yes" to Form 990, Part IV, line 23.
SchJMediumBullet

Attach to Form 990.
SchJMediumBullet

Information about Schedule J (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization

Water Research Foundation

Employer identification number

13-6211384

Part I

Questions Regarding Compensation

Yes

Check the appropiate box(es) if the organization provided any of the following to or for a person listed in Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.

First-class or charter travel Housing allowance or residence for personal use

Travel for companions Payments for business use of personal residence

Tax idemnification and gross-up payments Health or social club dues or initiation fees

Discretionary spending account Personal services (e.g., maid, chauffeur, chef)

If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain....

Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked in line 1a? ..

Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.

Compensation committee Written employment contract

Independent compensation consultant Compensation survey or study

Form 990 of other organizations Approval by the board or compensation committee

During the year, did any person listed in Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:

Receive a severance payment or change-of-control payment? ................

Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........

Participate in, or receive payment from, an equity-based compensation arrangement? .........

If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.

Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.

For persons listed in Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:

The organization? ...........................

Any related organization? .........................

If "Yes," to line 5a or 5b, describe in Part III.

For persons listed in Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:

The organization? ...........................

Any related organization? .........................

If "Yes," to line 6a or 6b, describe in Part III.

For persons listed in Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............

Yes

Were any amounts reported in Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III .............................

If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50053T

Schedule J (Form 990) 2014

Page 2

Part II

Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.

For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.

(A) Name and Title		(B) Breakdown of W-2 and/or 1099-MISC compensation			(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)	(F) Compensation in column(B) reported as deferred in prior Form 990
(A) Name and Title		(i) Base compensation	(ii) Bonus & incentive compensation	(iii) Other reportable compensation	(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)
1ROBERT C RENNERSECRETARY/EXECUTIVE DIRECTOR	(i) (ii)	282,737 ............................... 0	30,000 ............................... 0	11,376 ............................... 0	23,400 ............................... 0	518 ............................... 0	348,031 ............................... 0	0 ............................... 0
2TANIA HASKINSDIRECTOR-FINANCE & ADMIN SVCS	(i) (ii)	127,169 ............................... 0	16,600 ............................... 0	376 ............................... 0	11,980 ............................... 0	10,798 ............................... 0	166,923 ............................... 0	0 ............................... 0
3CHRISTOPHER RAYBURNDIRECTOR-RESEARCH MANAGEMENT	(i) (ii)	129,843 ............................... 0	1,600 ............................... 0	619 ............................... 0	12,526 ............................... 0	33,068 ............................... 0	177,656 ............................... 0	0 ............................... 0

Schedule J (Form 990) 2014

Page 3

Part III

Supplemental Information

Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II.
Also complete this part for any additional information.

Return Reference

Explanation

Non-fixed payments

Schedule J, Part I, line 7 Supplemental information for non-fixed payments for: a.) Executive Director bonus paid in fiscal year 2014: The Executive Director's bonus is determined at the discretion of the Executive Committee of the Board of Trustees. This is based on the accomplishments of the 2013 "Business Plan Report Card" and the anticipated goals for the 2014 business plan. The decision of the Executive Committee is documented in their meeting minutes. The Executive Committee submits its recommendations to the full Board of Trustees for approval at the January board meeting and the Board of Trustees approves the request. This action is documented in the minutes of the meeting. The most recent review and approval was conducted in January, 2015 for the 2014 bonus that was paid in 2015. A letter from the Chair of the Board of Trustees is sent to the Executive Director. b.) Highest Compensated Employees' Bonus: During the budget process each year, a predetermined bonus pool is set aside based at the discretion of the executive director and is tied to achievement of WRF's goals. The bonus pool is included in the salary budget and is reviewed by the finance committee. The Finance Committee's approval of the bonus pool is documented in their minutes. The Finance Committee makes recommendations for approval to the full Board of Trustees at their January board meeting, and the Board of Trustees approves the budget, which includes the salary increase and bonus pool, and the action is documented in the minutes of the board meeting. The Executive Director informs the key employees of the bonus amount during their annual review.

Schedule J (Form 990) 2014

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet

Attach to Form 990 or 990-EZ.
MediumBullet

Information about Schedule O (Form 990 or 990-EZ) and its instructions is at
www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public
Inspection

Name of the organization

Water Research Foundation

Employer identification number

13-6211384

Return Reference	Explanation
OTHER PROGRAM SERVICE ACCOMPLISHMENTS	Form 990, Part III, Line 4d Communications & Marketing: WRF's Communications and Marketing efforts consist of publishing information and resources derived from WRF-sponsored research to ensure that the results and application of research are effectively transferred to subscribers and other stakeholders. These efforts include the development, distribution and promotion of research reports and other project resources, printed materials and e-periodicals, webcasts, workshops, the website and social media. Communication and Marketing also oversees all public relations and marketing activities and collateral. The activities of the Public Council on Water Research are also centered here. Other Program Expenses: This area includes general travel, consulting and contracts relating to programs not identified in the other program areas.
Material Differences in Voting Rights	Form 990, Part VI, Section A, Line 1a There are twenty-six members of the Board of Trustees, plus the Secretary (Executive Director of WRF). The Presidents of AWWA, AMWA and NAWC, or their designees, are non-voting members; however they participate in all discussions at the board meetings. THE EMERITUS TRUSTEE IS ALSO NON-VOTING AND SERVES IN AN ADVISORY ROLE. The Secretary also does not have voting privileges. The BOARD CHAIR votes only in circumstances where there is a tie and is also independent. The remaining twenty-two appointed members have voting privileges and are also independent. Voting is generally verbal, and non-voting members do not vote on the consent agenda or other motions as presented for consideration at the meetings.
Classes of Members or Stockholders	Form 990, Part VI, Section A, Line 6 An organization shall become a supporting member of WRF and shall be entered on the membership roll upon payment of prescribed fees as established by the Board of Trustees. Failure to pay fees shall be cause for removing a supporting member from the membership roll. Supporting members of WRF, as such, shall not be entitled to vote. Depending upon the category of membership, the prescribed fees may be the annual dues or the subscription fees.
Members or Stockholders who can elect members of the governing body	Form 990, Part VI, Section A, Line 7A The board shall consist of eighteen elected or appointed persons plus WRF's chair, vice-chair, and treasurer; the chair of WRF's Focus Area Committee (FAC), ex-officio; the president of the American Water Works Association (AWWA), ex-officio, or their designee (non-voting); the president of Association of Metropolitan Water Agencies (AMWA), ex-officio, or their designee (non-voting); the president of the National Association of Water Companies (NAWC), ex-officio, or their designee (non-voting); the Emeritus Trustee (non-voting) and the Secretary. The executive committee consists of the chair, vice-chair, treasurer, and member-at-large. The executive committee members shall be utility employees. The ex-officio members (presidents of AWWA, AMWA, and NAWC) appoint three members for each respective organization (one per organization each year). The appointees from AWWA must be representatives of the water utilities, and appointees from AMWA and NAWC should be members of each association, respectively. The presidents of AWWA, AMWA, and NAWC consult with the executive committee before making their formal appointments. The Focus Area Committee (FAC) chair, also an ex-officio, is elected by the board for a three-year term. The Emeritus Trustee position was voted on and approved during the June, 2014 annual board meeting. This position was created to recognize distinguished service of former board members and serves in an advisory capacity. The Emeritus Trustees may attend board meetings, committee meetings and board events. However, Emeritus Trustees cannot hold office, have no voting rights and do not count for quorum purposes. The term of service for this position is limited to two three-year terms. Each year at the annual meeting of the Board, the Board shall elect three persons to serve as trustees from a slate of candidates provided by the Nominating Committee. The elected and appointed trustees are eligible to vote. Term of office shall be three years and one-third of the trustees will be elected or appointed each year. Trustees are limited to two consecutive three-year terms.
Process to Review the Form 990	Form 990, Part VI, Section A, Line 11B The draft 990 is reviewed by WRF's accounting staff and forwarded to the Director of Finance & Administration and the Audit Committee for further review. Once the 990 has been approved by the Audit Committee, the final version of the return will be exported to the website to provide access to the Board of Trustees, along with e-mail correspondence stating it is available. This is done prior to filing the 990 with the IRS.
Process for Monitoring Compliance with Conflict of Interest Policy	Form 990, Part VI, Section B, Line 12c WATER RESEARCH FOUNDATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES CONFLICT OF INTEREST AT VARYING FREQUENCIES AND LEVELS OF MONITORING, DEPENDING ON THE RISK OF A POTENTIAL CONFLICT AND ITS LIKELY IMPACT ON WRF. WRF'S POLICY ADDRESSES CONFLICT OF INTEREST IN TERMS OF ITS STAFF, MANAGEMENT, BOARD OF TRUSTEES, AND VOLUNTEER LEADERSHIP. ON AN ANNUAL BASIS, THE BOARD OF TRUSTEES, AS WRF REPRESENTATIVES, SUBMIT A SIGNED DISCLOSURE OF SIGNIFICANT INTERESTS FORM WHICH IDENTIFIES EXISTING OR POTENTIAL RELATIONSHIPS THAT MAY CAUSE A CONFLICT OF INTEREST WITH WRF ACTIVITY. PAID STAFF, ALSO DEEMED WRF REPRESENTATIVES, SUBMIT A CONFLICT OF INTEREST STATEMENT WHEN THEY ARE HIRED AND ARE RESPONSIBLE TO IMMEDIATELY SELF-REPORT ANY KNOWN CONFLICT OF INTEREST WHENEVER SUCH CONFLICT ARISES. ANY DISCLOSURE IS FIRST ADJUDICATED BY WRF MANAGEMENT, PURSUANT TO GUIDELINES ESTABLISHED BY THE POLICY. MANAGEMENT WILL ELEVATE A DISCLOSED CONFLICT TO THE FOUNDATION'S AUDIT COMMITTEE FOR ITS OVERSIGHT, WHEN NECESSARY. THE AUDIT COMMITTEE PERFORMS THIS FUNCTION ON BEHALF OF THE BOARD OF TRUSTEES. WRF'S CONFLICT OF INTEREST POLICY SETS STRINGENT GUIDELINES FOR CONDUCT, CONFIDENTIALITY, DECISION-MAKING, AND ACCEPTANCE OF GRATUITIES. DECISIONS OF THIS COMMITTEE MAY BE APPEALED TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. VIOLATION OF THE PROVISION OF THIS POLICY IS CAUSE FOR REMOVAL FROM FOUNDATION ACTIVITIES. TRUSTEES SHALL INFORM THE FULL BOARD AT THE OUTSET OF THE DISCUSSION ON PROPOSALS FOR POTENTIAL FUNDING OF ANY INVOLVEMENT OF THEIR ORGANIZATION IN ANY OF THE PROPOSALS UNDER CONSIDERATION. FOR PROJECTS IN WHICH A TRUSTEE'S ORGANIZATION IS THE PRIMARY SUBMITTER ON A PROPOSAL, THE TRUSTEE MUST EXCUSE HIMSELF/HERSELF FROM ALL DISCUSSION ON THE PROPOSAL BY LEAVING THE ROOM. THE TRUSTEE IS ALSO INELIGIBLE TO VOTE ON THE PROPOSAL. DURING ITS NORMAL COURSE OF BUSINESS, WRF ALSO SEEKS INVOLVEMENT FROM SEVERAL VOLUNTEER COMMITTEES OR COUNCILS, COMPRISED PRIMARILY OF SUBSCRIBER PERSONNEL OR OTHER PROFESSIONALS WITH WATER-RELATED EXPERTISE. AS MONITORED BY A WRF REPRESENTATIVE, ALL COMMITTEE VOLUNTEERS ARE REQUIRED TO SELF-REPORT ANY EXISTING OR POTENTIAL CONFLICTS OF INTEREST. REPORTED CONFLICTS SHALL THEN BE ASSESSED BY WRF'S REPRESENTATIVE AND/OR WRF MANAGEMENT, WHO SHALL BE RESPONSIBLE TO ENFORCE THE PROVISIONS OF THE WRF'S CONFLICT OF INTEREST POLICY PURSUANT TO THAT VOLUNTEER'S LEVEL OF INVOLVEMENT OF DECISION-MAKING IN HIS/HER RESPECTIVE COMMITTEE OR COUNCIL.
Review of CEO or Top Mgmt Official Compensation	Form 990, Part VI, Section B, Line 15a PROCESS FOR DETERMINING COMPENSATION FOR EXECUTIVE DIRECTOR: EXECUTIVE COMMITTEE DELIBERATES AND REVIEWS THE EXECUTIVE DIRECTOR'S COMPENSATION ANNUALLY IN PRIVATE SESSIONS. THE REVIEWS FOR FISCAL YEAR 2014 TOOK PLACE IN DECEMBER, 2013 AND JANUARY, 2014. DENVER COMPENSATION & BENEFITS LLC PROVIDED AN INDEPENDENT COMPENSATION SURVEY FOR THE EXECUTIVE DIRECTOR'S COMPENSATION (SALARY AND BENEFITS) AND THE EXECUTIVE COMMITTEE MADE THEIR EVALUATION BASED ON THIS INFORMATION AND SUBMITTED THEIR DECISION TO THE FULL BOARD FOR THEIR ACTION. THE EXECUTIVE COMMITTEE ALSO LOOKS FOR SIGNIFICANT DEVIATIONS FROM A NORMAL SALARY RANGE, IF APPLICABLE. CURRENTLY THERE ARE NO SIGNIFICANT DEVIATIONS FROM THE NORMAL REPORTED SALARY RANGES FOR SIMILAR EXECUTIVE DIRECTOR POSITIONS. THE FULL BOARD UNANIMOUSLY APPROVED THE RECOMMENDATION IN JANUARY 2014 FOR FISCAL YEAR 2014. THE RECOMMENDATION/APPROVAL OF THE EXECUTIVE COMMITTEE IS DOCUMENTED IN THE BOARD OF TRUSTEES MEETING MINUTES. THE MOST RECENT REVIEW AND APPROVAL WAS CONDUCTED IN JANUARY 2015 FOR FISCAL YEAR 2015.
Review of Other Officer or Key Employees Compensation	Form 990, Part VI, Section B, Line 15b PROCESS FOR DETERMINING COMPENSATION FOR OTHER KEY EMPLOYEES OF THE ORGANIZATION: WRF'S SALARY AND COMPENSATION PLAN IS REVIEWED ANNUALLY TO ENSURE THAT KEY EMPLOYEES ARE FAIRLY COMPENSATED USING COMPARATIVE DATA RECEIVED FROM MOUNTAIN STATES EMPLOYERS' COUNCIL SURVEY INFORMATION. A SALARY BUDGET IS PREPARED ON THESE RESULTS. THE REVIEW FOR FISCAL YEAR 2014 TOOK PLACE IN NOVEMBER 2013. COMPENSATION (INCLUDING PROPOSED BONUSES), FRINGE BENEFIT CALCULATIONS AND GRAPHS ARE SUBMITTED TO THE FINANCE COMMITTEE FOR EVALUATION AT THEIR MEETING EACH NOVEMBER. THE FINANCE COMMITTEE SUBMITS ITS RECOMMENDATION FOR APPROVAL TO THE FULL BOARD OF TRUSTEES FOR ACTION AT THE JANUARY BOARD MEETING. THE MOST RECENT REVIEW AND APPROVAL BY THE BOARD OF TRUSTEES WAS CONDUCTED IN JANUARY 2015 FOR FISCAL YEAR 2015. THE RECOMMENDATION OF THE FINANCE COMMITTEE IS DOCUMENTED IN THEIR MEETING MINUTES AND BOARD APPROVAL IS DOCUMENTED IN THE BOARD OF TRUSTEES MEETING MINUTES.
Governing Documents Available to the Public	Form 990, Part VI, Section C, Line 19 WRF DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UNLESS SPECIFICALLY REQUESTED.
Other changes in nets assets	Form 990, Part XI, Line 9 Change in Minimum Pension Liability (1,443,918)

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2014

Additional Data

Software ID:
Software Version:

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	12,604,883	12,659,913
9	Program service revenue (Part VIII, line 2g) .........	3,354,522	2,678,465
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	139,347	95,444
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	200	2,170
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)...................	16,098,952	15,435,992
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	0	0
14	Benefits paid to or for members (Part IX, column (A), line 4).....	0	0
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	4,338,122	4,598,442
16a	Professional fundraising fees (Part IX, column (A), line 11e).....	0	0
b	Total fundraising expenses (Part IX, column (D), line 25) 384,128
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	12,987,895	10,838,230
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	17,326,017	15,436,672
19	Revenue less expenses. Subtract line 18 from line 12.......	-1,227,065	-680
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	16,951,898	16,793,791
21	Total liabilities (Part X, line 26).............	5,061,840	6,509,953
22	Net assets or fund balances. Subtract line 21 from line 20.....	11,890,058	10,283,838

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ 8,893,444 including grants of $ 0 ) (Revenue $ 2,680,635 )
	Research Programs: Coordinates multiple research programs to collectively address issues of subscribers and the water community as a whole. The research programs are Focus Area, Emerging Opportunities and Tailored Collaboration. This includes the costs of projects funded for research to be conducted by outside organizations and other internal expenses directly related to these projects.

4b	(Code: ) (Expenses $ 1,405,053 including grants of $ ) (Revenue $ )
	Research Management: The planning, administration and monitoring of the research programs sponsored by WRF are the primary responsibilities of the Research Managers. Specific tasks include administration of WRF's Focus Area Council and Technical Advisory Committees for each focus area; research planning, contractor monitoring and oversight; research report review; requests for proposal preparation; Project Advisory Committee selection and administration and proposal review and selection. Project Management and research planning serves as WRF's primary link with the water research and volunteer community.

4c	(Code: ) (Expenses $ 688,792 including grants of $ ) (Revenue $ )
	Subscriber Services: The administration of WRF's major funding effort, the Research Subscription program, is coordinated by Subscriber Services staff. Activities include planning and implementation of a recruitment and retention program, highlighting WRF's value proposition and coordination of subscriber communications. Senior Account Managers are responsible for providing personalized service to the largest subscribers. Major activities include annual visits/briefings, serving as primary contact, promoting greater involvement in WRF's programs and ensuring subscribers' needs are expeditiously met. The Subscriber Services group also administers the Tailored Collaboration program.

4d	Other program services (Describe in Schedule O.)
	(Expenses $ 750,775 including grants of $ ) (Revenue $ )
4e	Total program service expenses11,738,064

1b	Sub-Total................
c	Total from continuation sheets to Part VII, Section A....
d	Total (add lines 1b and 1c)............	707,352	0	113,685

				(A) Total revenue	(B) Related or exempt function revenue	(C) Unrelated business revenue	(D) Revenue excluded from tax under sections 512-514
1a	Federated campaigns..1a
b	Membership dues....1b		52,622
c	Fundraising events....1c
d	Related organizations...1d
e	Government grants (contributions)1e		11,507,662

f	All other contributions, gifts, grants, and similar amounts not included above1f		1,099,629

g	Noncash contributions included in lines 1a-1f:$
h	Total. Add lines 1a-1f.......			12,659,913
			Business Code
2a	PROJECT CO-FUNDING		221000	2,678,465	2,678,465
b
c
d
e
f	All other program service revenue .
g	Total. Add lines 2a–2f........			2,678,465
3	Investment income (including dividends, interest, and other similar amounts).......			95,333			95,333
4	Income from investment of tax-exempt bond proceeds..			0
5	Royalties...........			0
		(i) Real	(ii) Personal
6a	Gross rents
b	Less: rental expenses
c	Rental income or (loss)	0	0
d	Net rental income or (loss).......			0
		(i) Securities	(ii) Other
7a	Gross amount from sales of assets other than inventory	5,239,837
b	Less: cost or other basis and sales expenses	5,239,726
c	Gain or (loss)	111
d	Net gain or (loss)..........			111			111
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ..
	a
b	Less: direct expenses ...b
c	Net income or (loss) from fundraising events..			0
9a	Gross income from gaming activities. See Part IV, line 19 ...
	a
b	Less: direct expenses ...b
c	Net income or (loss) from gaming activities...			0
10a	Gross sales of inventory, less returns and allowances .
	a
b	Less: cost of goods sold ..b
c	Net income or (loss) from sales of inventory..			0
Miscellaneous Revenue			Business Code
11a	MISCELLANEOUS		900099	2,170	2,170
b
c
d	All other revenue ....
e	Total. Add lines 11a–11d ......			2,170
12	Total revenue. See Instructions......			15,435,992	2,680,635		95,444

1	Briefly describe the organization’s mission or most significant activities: COORDINATE & PROMOTE RESEARCH RELATED TO THE TECHNOLOGY, OPERATION AND MGMT. OF PUBLIC WATER SYSTEMS, WITH THE INTENT TO IMPROVE THE WATER SUPPLY AND PROVIDE SERVICE TO THE PUBLIC.
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	22
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	22
5	Total number of individuals employed in calendar year 2014 (Part V, line 2a) ......	5	45
6	Total number of volunteers (estimate if necessary) .............	6	1,000
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	0
b	Net unrelated business taxable income from Form 990-T, line 34 .........	7b


				(A) Beginning of year		(B) End of year
1	Cash–non-interest-bearing .............			2,320,595	1	2,725,210
2	Savings and temporary cash investments .........			6,763,787	2	7,370,222
3	Pledges and grants receivable, net ...........			862,273	3	830,571
4	Accounts receivable, net .............			637,856	4	943,950
5	Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of Schedule L ..................
				0	5	0
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L
				0	6	0
7	Notes and loans receivable, net .............			0	7	0
8	Inventories for sale or use ..............			0	8	0
9	Prepaid expenses and deferred charges ..........			136,828	9	134,392
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	934,563
b	Less: accumulated depreciation .....	10b	494,569	166,790	10c	439,994
11	Investments—publicly traded securities ..........			417,448	11	405,840
12	Investments—other securities. See Part IV, line 11 .....			5,630,698	12	3,931,681
13	Investments—program-related. See Part IV, line 11 .....			0	13	0
14	Intangible assets ...............			0	14	0
15	Other assets. See Part IV, line 11 ...........			15,623	15	11,931
16	Total assets. Add lines 1 through 15 (must equal line 34)......			16,951,898	16	16,793,791
17	Accounts payable and accrued expenses .........			513,145	17	715,081
18	Grants payable .................			0	18	0
19	Deferred revenue ................			2,645,441	19	2,837,719
20	Tax-exempt bond liabilities .............			0	20	0
21	Escrow or custodial account liability. Complete Part IV of Schedule D..			0	21	0
22	Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
	persons. Complete Part II of Schedule L..........			0	22	0
23	Secured mortgages and notes payable to unrelated third parties ..			0	23	0
24	Unsecured notes and loans payable to unrelated third parties ....			0	24	0
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D....................			1,903,254	25	2,957,153
26	Total liabilities. Add lines 17 through 25.........			5,061,840	26	6,509,953
	Organizations that follow SFAS 117 (ASC 958), check here and complete lines 27 through 29, and lines 33 and 34.
27	Unrestricted net assets ..............			11,890,058	27	10,283,838
28	Temporarily restricted net assets ...........			0	28	0
29	Permanently restricted net assets ...........			0	29	0
	Organizations that do not follow SFAS 117 (ASC 958), check here and complete lines 30 through 34.
30	Capital stock or trust principal, or current funds ........				30
31	Paid-in or capital surplus, or land, building or equipment fund .....				31
32	Retained earnings, endowment, accumulated income, or other funds				32
33	Total net assets or fund balances ...........			11,890,058	33	10,283,838
34	Total liabilities and net assets/fund balances ........			16,951,898	34	16,793,791

1	Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If "Yes,"the organization may be required to file Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation (see Instructions for Form 926)......................................	Yes	No
2	Did the organization have an interest in a foreign trust during the tax year? If "Yes," the organization may be required to file Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, and/or Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner (see Instructions for Forms 3520 and 3520-A; do not file with Form 990)............................	Yes	No
3	Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 5471, Information Return of U.S. Persons with Respect to Certain Foreign Corporations. (see Instructions for Form 5471)..............................	Yes	No
4	Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If “Yes,” the organization may be required to file Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. (see Instructions for Form 8621)...............................................	Yes	No
5	Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be required to file Form 8865, Return of U.S. Persons with Respect to Certain Foreign Partnerships. (see Instructions for Form 8865)....................................	Yes	No
6	Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be required to file Form 5713, International Boycott Report (see Instructions for Form 5713; do not file with Form 990).....................................	Yes	No