Civic Intelligence

Waterville Regional Arts and Community Center

990 • Fiscal year 2022 • EIN 01-0505433

Jan 01, 2022 to Dec 31, 2022 • Filed on Jun 12, 2023

93 Main StreetWaterville, ME 04901

(207) 873-7000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

73rd percentile

0.36x

Higher debt load relative to assets than 73% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

83rd percentile

0.93x

Higher debt load relative to revenue than 83% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

5th percentile

-67%

Higher net margin than 5% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

58th percentile

$141,469

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 5.2% of source-year revenue.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

65th percentile

7.2%

Faster asset growth than 65% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

20th percentile

-18%

Faster revenue growth than 20% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Assets

Up

$6,926,236

Up $467,623 (+7.2%) from 2021

Net Assets

Down

$4,401,316

Down $1,819,567 (-29%) from 2021

Liabilities

Up

$2,524,920

Up $2,287,190 (+962%) from 2021

Revenue

Down

$2,705,716

Down $588,609 (-18%) from 2021

Expenses

Up

$4,525,283

Up $2,440,755 (+117%) from 2021

Net Income

Down

-$1,819,567

Down $3,029,364 (-250%) from 2021

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $814,921Liabilities 2011: $7,546Net Assets 2011: $807,3752011Assets 2012: $810,097Liabilities 2012: $11,049Net Assets 2012: $799,0482012Assets 2013: $784,073Liabilities 2013: $5,500Net Assets 2013: $778,5732013Assets 2014: $954,259Liabilities 2014: $41,150Net Assets 2014: $913,1092014Assets 2015: $998,204Liabilities 2015: $11,024Net Assets 2015: $987,1802015Assets 2016: $728,061Liabilities 2016: $23,255Net Assets 2016: $704,8062016Assets 2017: $1,602,165Liabilities 2017: $948,237Net Assets 2017: $653,9282017Assets 2018: $5,832,497Liabilities 2018: $1,424,628Net Assets 2018: $4,407,8692018Assets 2019: $5,233,826Liabilities 2019: $510,501Net Assets 2019: $4,723,3252019Assets 2020: $5,272,264Liabilities 2020: $549,603Net Assets 2020: $4,722,6612020Assets 2021: $6,458,613Liabilities 2021: $237,730Net Assets 2021: $6,220,8832021Assets 2022: $6,926,236Liabilities 2022: $2,524,920Net Assets 2022: $4,401,3162022Assets 2023: $5,948,550Liabilities 2023: $1,966,271Net Assets 2023: $3,982,2792023Assets 2024: $5,195,806Liabilities 2024: $1,769,748Net Assets 2024: $3,426,0582024

Highlighted filing

2022

Assets$6,926,236
Liabilities$2,524,920
Net Assets$4,401,316

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $252,4152011Revenue 2012: $209,835Expenses 2012: $235,443Net Income 2012: -$25,6082012Revenue 2013: $210,107Expenses 2013: $272,255Net Income 2013: -$62,1482013Revenue 2014: $443,621Expenses 2014: $309,085Net Income 2014: $134,5362014Revenue 2015: $1,103,254Expenses 2015: $1,029,183Net Income 2015: $74,0712015Revenue 2016: $644,728Expenses 2016: $927,102Net Income 2016: -$282,3742016Revenue 2017: $932,246Expenses 2017: $983,124Net Income 2017: -$50,8782017Revenue 2018: $5,404,278Expenses 2018: $1,650,337Net Income 2018: $3,753,9412018Revenue 2019: $3,495,307Expenses 2019: $3,179,851Net Income 2019: $315,4562019Revenue 2020: $1,652,490Expenses 2020: $1,653,154Net Income 2020: -$6642020Revenue 2021: $3,294,325Expenses 2021: $2,084,528Net Income 2021: $1,209,7972021Revenue 2022: $2,705,716Expenses 2022: $4,525,283Net Income 2022: -$1,819,5672022Revenue 2023: $4,028,178Expenses 2023: $4,447,215Net Income 2023: -$419,0372023Revenue 2024: $4,395,927Expenses 2024: $4,952,148Net Income 2024: -$556,2212024

Highlighted filing

2022

Revenue$2,705,716
Expenses$4,525,283
Net Income-$1,819,567
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jun 12, 2023
Return Version
2022v5.0
Gross Receipts
$2,765,421
Mission and Program Overview

Mission

To operate and maintain a mixed use community facility and promote the arts in central maine.

Arts experiences for all.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,493,704$3,808,143▲ $314,439
Cash and Non-Interest-Bearing Accounts$2,034,384$1,160,695▼ $873,689
Savings and Temporary Cash Investments$435,890$439,262▲ $3,372
Prepaid Expenses and Deferred Charges$81,177$79,283▼ $1,894
Accounts Receivable$35,300$43,521▲ $8,221
Pledges and Grants Receivable$113,218$26,998▼ $86,220
Inventories for Sale or Use$11,092$15,263▲ $4,171
Total Assets$6,458,613$6,926,236▲ $467,623
Other Assets Total$253,848$1,353,071▲ $1,099,223
Liabilities
Other Liabilities$36,466$1,379,415▲ $1,342,949
Deferred Revenue$155,393$676,718▲ $521,325
Accounts Payable and Accrued Expenses$45,871$468,787▲ $422,916
Total Liabilities$237,730$2,524,920▲ $2,287,190
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,214,026$4,360,857▼ $853,169
Net Assets With Donor Restrictions$1,006,857$40,459▼ $966,398
Total Net Assets Fund Balance$6,220,883$4,401,316▼ $1,819,567
Total Liabilities and Net Assets / Fund Balance$6,458,613$6,926,236▲ $467,623

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$3,442,521$438,763$3,881,284
Equipment$365,622$113,780$479,402
Other Assets Org$8,925--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Shannon HainesPresident &FT$130,086$11,383$141,469
Debra SusiDirectorPT$4,700-$4,700

Board Members and Trustees

NameTitle
Jim LalibertyChair
Elizabeth FinchVice Chair
Amanda CooleyDirector
Brian ClarkDirector
Donald CragenDirector
John DaltonDirector
Tammy RabideauDirector
Lori RomingSecretary
Kelly HugginsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,578,799
Program Service Revenue
$953,872
Investment Income
$-2,625
Other Revenue
$175,670
All Other Contributions
$1,539,899
Change in Net Assets
$-1,819,567

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded1$497,703Fair Market Value (FMV) on Date of Sale
Total Noncash Contributions1$497,703-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,156,898
Salaries, Compensation, and Employee Benefits$1,368,385
Total Fundraising Expense$101,062
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$695,576$255,819$30,454$981,849
Occupancy$163,266$53,348-$216,614
Depreciation Depletion$147,389--$147,389
Current Officers, Directors, Trustees, and Key Employees$28,294$56,588$56,588$141,470
Fees for Services Other$23,567$113,436-$137,003
Office Expenses$73,381$55,045-$128,426
Other Employee Benefits$94,483$26,076$5,411$125,970
Advertising$98,260$10,219-$108,479
Payroll Taxes$53,599$32,657$8,552$94,808
All Other Expenses$61,771$11,514-$73,285
Information Technology$25,227$36,737-$61,964
Other Expenses$56,354$3,485-$56,354
Fees for Services Accounting$7,035$33,865-$40,900
Pension Plan Contributions$18,358$5,873$57$24,288
Insurance$1,093$16,597-$17,690
Fees for Services Legal$835$4,019-$4,854
Total Functional Expenses$2,575,412$1,848,809$101,062$4,525,283
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Obligation$1,334,146
Other Liabilities$45,269
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The finance committee reviews the 990 prior to submittal. The board receives a copy of the form 990.

Form 990, Page 6, Part VI, Line 12C

Each director and committee member is required to complete a conflict of interest disclosure annually, additionally, directors and committee members disclose potential conflicts as they arise during normal business.

Form 990, Page 6, Part VI, Line 15A

The board of directors performs an annual review of the president + ceo. The review process is managed by the governance committee which makes a recommendation to the board regarding any salary increase or bonus.

Form 990, Page 6, Part VI, Line 19

Governing documents, bylaws, etc. Are available to be viewed by the public during normal work hours, phone 207 873 7000.

Filing and Contact Details

Filer

Filer Name
Waterville Creates
EIN
01-0505433
Phone
2078737000
Address
93 MAIN STREET, WATERVILLE, ME 04901
Doing Business As
See Schedule O

Signing Officer

Name
Shannon Haines
Title
President & CEO
Phone
2076160292
Signed
2023-06-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shannon Haines
Formed
1996
Legal Domicile
Me
Voting Board Members
11
Independent Board Members
10
Employees
53
Volunteers
81

Preparer

Firm
Nicholson Michaud & Nadeau Cpas
Address
76 SILVER ST, WATERVILLE, ME 04901-6528
Preparer
Erik Nadeau CPA
Phone
2078727077
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item C

Maine film center maine international film festival waterville opera house ticonic gallery + studios

Form 990, Page 2, Part III, Line 3

In december 2022, waterville creates moved to the paul j. Schupf art center, representing the consolidation of its administrative and programming operations in one centralized location. As part of this move, the maine film center ceased operations at railroad square cinema and moved its programming to the new art center. Similarly, ticonic gallery + studios and the wc administrative offices moved from the hathaway creative center to the new facility, which connects directly to the waterville opera house. The paul j. Schupf art center features a consolidated box office that serves all three divisions.

Financial Statement Notes

Schedule D, Page 3, Part X

The organization is exempt from federal income tax under section 501(c)(3) of the internal revenue code. Accordingly, no provision for income taxes has been recorded in the accompanying consolidated financial statements. The organization did not have any unrelated business income for the years ended december 31, 2022 and 2021. The organization's income tax filings are subject to audit by various taxing authorities. Any interest or penalties assessed to the organization are recorded in operating expenses. For the years ended december 31,2022 and 2021, there were no interest or penalties recorded in the accompanying consolidated financial statements.

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IRS990/Desc0TO ENHANCE THE CREATIVE AND ARTISTIC VITALITY OF OUR COMMUNITY THROUGH OUTSTANDING ARTS EDUCATION AND EXHIBITIONS AND COLLABORATIVE EVENTS AND PROGRAMS. TICONIC GALLERY + STUDIOS INCLUDES A VERSATILE EXHIBITION SPACE THAT PRESENTS 6-8 SHOWS PER YEAR, A DEDICATED CLAY STUDIO THAT OFFERS A RANGE OF CLASSES AS WELL AS AN OPEN MEMBERSHIP PROGRAM, AND A CLASSROOM THAT HOSTS YEAR-ROUND ARTS EDUCATION PROGRAMS FOR YOUTH AND ADULTS. IN 2022, TICONIC GALLERY PRESENTED FIVE EXHIBITIONS IN THE HATHAWAY CREATIVE CENTER BEFORE MOVING TO THE PAUL J. SCHUPF ART CENTER IN DECEMBER, WHERE IT OPENED WITH COMMON THREADS, A COMMUNITY-CENTERED EXHIBITION SHOWCASING INDIVIDUAL AND COLLECTIVE STORIES THROUGH ARRAY OF PRINTS, WRITTEN WORKS, AND PORTRAITS.
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IRS990/ProgSrvcAccomActy2Grp/Desc0TO ENHANCE QUALITY OF LIFE AND BUILD COMMUNITY THROUGH THE PERFORMING ARTS. THE 810-SEAT WATERVILLE OPERA HOUSE PRESENTS LIVE THEATRE, DANCE, CONCERTS, AND EDUCATIONAL PROGRAMMING FOR AUDIENCES OF ALL AGES. IN 2022, THE WATERVILLE OPERA HOUSE (WOH) PRODUCED FOUR PLAYS, INCLUDING A FLEA IN HER EAR, TUCK EVERLASTING, THE MOUSETRAP, AND THE SOUND OF MUSIC, PRESENTED A DIVERSE AND EXCITING RANGE OF LIVE MUSIC, COMEDY, AND VARIETY ACTS, INCLUDING KEB' MO', THE BACON BROTHERS, TEDESCHI TRUCKS, THE GLENN MILLER ORCHESTRA, AND WHOSE LIVE ANYWAY?, AND HOSTED NUMEROUS COMMUNITY EVENTS, INCLUDING MULTIPLE DANCE RECITALS AND THE BOSSOV BALLET'S THE NUTCRACKER. WOH ALSO RESUMED ITS YOUTH PROGRAMMING IN 2022 WITH A WEEK OF SUMMER THEATRE CAMP AND TWO SCHOOL SHOWS.
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.20$1.77$3.43$4.40$4.95$0.56
2023Detailed filing. Detailed filing data is available for this year.$5.95$1.97$3.98$4.03$4.45$0.42
2022Detailed filing. Detailed filing data is available for this year.$6.93$2.52$4.40$2.71$4.53$1.82
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.46$0.24$6.22$3.29$2.08$1.21
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.27$0.55$4.72$1.65$1.65$0.00
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.23$0.51$4.72$3.50$3.18$0.32
2018Summary only. Only limited summary data is available for this year.$5.83$1.42$4.41$5.40$1.65$3.75
2017Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$1.60$0.95$0.65$0.93$0.98$0.05
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.73$0.02$0.70$0.64$0.93$0.28
2015Detailed filing. Detailed filing data is available for this year.$1.00$0.01$0.99$1.10$1.03$0.07
2014Detailed filing. Detailed filing data is available for this year.$0.95$0.04$0.91$0.44$0.31$0.13
2013Detailed filing. Detailed filing data is available for this year.$0.78$0.01$0.78$0.21$0.27$0.06
2012Summary only. Only limited summary data is available for this year.$0.81$0.01$0.80$0.21$0.24$0.03
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.81$0.01$0.81$0.25
Peer Organizations

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