Liabilities / Assets
77th percentile
Higher debt load relative to assets than 77% of similar nonprofits.
Waterfall Arts
EIN 01-0528831 • 501(c)3 • Belfast, ME
Profile
Providing access to the arts design and creative collaboration for all ages and abilities throughout the Belfast community in Waldo County Maine.
Siviq Scores
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
0.36x
Liabilities / Revenue
87th percentile
Higher debt load relative to revenue than 87% of similar nonprofits.
Net Margin
15th percentile
Higher net margin than 15% of similar nonprofits.
Top Officer Pay
40th percentile
Higher top officer pay than 40% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
9th percentile
Faster asset growth than 9% of similar nonprofits.
Revenue Growth
30th percentile
Faster revenue growth than 30% of similar nonprofits.
Balance Sheet
Assets
Down$1,465,367
Down $397,700 (-21%) from 2023
Liabilities
Down$524,602
Down $25,068 (-4.6%) from 2023
Net Assets
Down$940,765
Down $372,632 (-28%) from 2023
Revenue
Down$584,659
Down $26,630 (-4.4%) from 2023
Expenses
Up$693,040
Up $57,148 (+9.0%) from 2023
Net Income
Down-$108,381
Down $83,778 (-341%) from 2023
Trend Graphs
Filings
Most recent year
2024 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $1,465,367
- Liabilities
- $524,602
- Net assets
- $940,765
- Revenue
- $584,659
- Expenses
- $693,040
- Net income
- -$108,381
Latest Filing Detail
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2024 to Dec 31, 2024
- Signed
- Nov 15, 2025
- Return Version
- 2024v5.2
- Gross Receipts
- $584,659
Mission and Program Overview
Mission
Providing access to the arts, design and creative collaboration for all ages and abilities throughout the Belfast and Montville communities in Waldo County, Maine
Providing access to the arts, design and creative collaboration for all ages and abilities throughout the belfast and montvillecommunities in waldo county, maine.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Savings and Temporary Cash Investments | $908,028 | $795,161 | ▼ $112,867 |
| Land, Buildings, and Equipment, Net | $587,022 | $587,022 | → $0 |
| Investments in Publicly Traded Securities | $36,122 | $36,122 | → $0 |
| Cash and Non-Interest-Bearing Accounts | $5,495 | $2,062 | ▼ $3,433 |
| Total Assets | $1,581,667 | $1,465,367 | ▼ $116,300 |
| Other Assets Total | $45,000 | $45,000 | → $0 |
| Liabilities | |||
| Mortgage Notes Payable Secured by Investment Property | $496,294 | $482,429 | ▼ $13,865 |
| Other Liabilities | $29,716 | $29,716 | → $0 |
| Accounts Payable and Accrued Expenses | $6,511 | $12,457 | ▲ $5,946 |
| Total Liabilities | $532,521 | $524,602 | ▼ $7,919 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $1,049,146 | $940,765 | ▼ $108,381 |
| Total Net Assets Fund Balance | $1,049,146 | $940,765 | ▼ $108,381 |
| Total Liabilities and Net Assets / Fund Balance | $1,581,667 | $1,465,367 | ▼ $116,300 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Leasehold Improvements | $419,579 | $113,584 | $533,163 |
| Equipment | $60,134 | $121,411 | $181,545 |
| Buildings | $107,309 | $59,791 | $167,100 |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| John Steed | President |
| Scott Kelley | Vice President |
| Kim Fleming | Executive Director |
| Andrew Hermann | Member |
| David Hupper | Member |
| David Leach | Member |
| Eli Kao | Member |
| Gianne Conard | Member |
| Joanna Owen | Member |
| Ken Schweikert | Member |
| Lisa Cohn | Member |
| Mike Bird | Member |
| Tyrone Townsend | Member |
| Jody Henderson | Secretary |
| David Cohn | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $284,160
- Program Service Revenue
- $287,791
- Investment Income
- $12,708
- Other Revenue
- $0
- All Other Contributions
- $251,210
- Change in Net Assets
- $-108,381
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $368,050 |
| Other Expenses | $324,990 |
| Total Fundraising Expense | $105,642 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | $171,343 | $79,820 | - | $251,163 |
| Occupancy | $462 | $89,094 | - | $89,556 |
| Current Officers, Directors, Trustees, and Key Employees | - | - | $83,540 | $83,540 |
| All Other Expenses | $7,163 | $18,502 | $4,188 | $29,853 |
| Payroll Taxes | $14,146 | $6,760 | $6,603 | $27,509 |
| Depreciation Depletion | $24,835 | $165 | - | $25,000 |
| Fees for Services Accounting | - | $11,000 | - | $11,000 |
| Office Expenses | $270 | $7,757 | $2,368 | $10,395 |
| Insurance | $5,062 | $681 | $712 | $6,455 |
| Advertising | $414 | $1,998 | $3,309 | $5,721 |
| Pension Plan Contributions | $2,050 | - | $2,335 | $4,385 |
| Fees for Services Legal | - | $2,670 | - | $2,670 |
| Other Expenses | $2,213 | $2,320 | $281 | $2,213 |
| Other Employee Benefits | $784 | $364 | $305 | $1,453 |
| Total Functional Expenses | $364,101 | $223,297 | $105,642 | $693,040 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying