Civic Intelligence

Waterfall Arts

990 • Fiscal year 2019 • EIN 01-0528831

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 16, 2020

256 High StreetBelfast, ME 04915

(207) 338-2222

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.18x

Higher debt load relative to assets than 72% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

77th percentile

0.21x

Higher debt load relative to revenue than 77% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

81st percentile

26%

Higher net margin than 81% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

64th percentile

9.5%

Faster asset growth than 64% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

69th percentile

17%

Faster revenue growth than 69% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Assets

Up

$789,165

Up $68,194 (+9.5%) from 2018

Net Assets

Up

$645,220

Up $180,014 (+39%) from 2018

Liabilities

Down

$143,945

Down $111,820 (-44%) from 2018

Revenue

Up

$690,156

Up $100,639 (+17%) from 2018

Expenses

Up

$510,142

Up $35,809 (+7.5%) from 2018

Net Income

Up

$180,014

Up $64,830 (+56%) from 2018

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $383,793Liabilities 2010: $188,372Net Assets 2010: $195,4212010Assets 2011: $379,680Liabilities 2011: $158,164Net Assets 2011: $221,5162011Assets 2012: $401,084Liabilities 2012: $155,721Net Assets 2012: $245,3632012Assets 2013: $408,091Liabilities 2013: $142,884Net Assets 2013: $265,2072013Assets 2014: $504,487Liabilities 2014: $268,420Net Assets 2014: $236,0672014Assets 2015: $602,456Liabilities 2015: $323,841Net Assets 2015: $278,6152015Assets 2016: $610,058Liabilities 2016: $304,750Net Assets 2016: $305,3082016Assets 2017: $670,184Liabilities 2017: $264,228Net Assets 2017: $405,9562017Assets 2018: $720,971Liabilities 2018: $255,765Net Assets 2018: $465,2062018Assets 2019: $789,165Liabilities 2019: $143,945Net Assets 2019: $645,2202019Assets 2020: $1,148,541Liabilities 2020: $342,272Net Assets 2020: $806,2692020Assets 2021: $1,786,226Liabilities 2021: $716,305Net Assets 2021: $1,069,9212021Assets 2022: $1,935,703Liabilities 2022: $597,703Net Assets 2022: $1,338,0002022Assets 2023: $1,863,067Liabilities 2023: $549,670Net Assets 2023: $1,313,3972023Assets 2024: $1,465,367Liabilities 2024: $524,602Net Assets 2024: $940,7652024

Highlighted filing

2019

Assets$789,165
Liabilities$143,945
Net Assets$645,220

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2010: $179,7082010Expenses 2011: $222,3792011Revenue 2012: $365,096Expenses 2012: $341,249Net Income 2012: $23,8472012Revenue 2013: $324,900Expenses 2013: $310,757Net Income 2013: $14,1432013Revenue 2014: $286,570Expenses 2014: $313,992Net Income 2014: -$27,4222014Revenue 2015: $386,500Expenses 2015: $342,223Net Income 2015: $44,2772015Revenue 2016: $399,634Expenses 2016: $372,941Net Income 2016: $26,6932016Revenue 2017: $580,957Expenses 2017: $480,309Net Income 2017: $100,6482017Revenue 2018: $589,517Expenses 2018: $474,333Net Income 2018: $115,1842018Revenue 2019: $690,156Expenses 2019: $510,142Net Income 2019: $180,0142019Revenue 2020: $663,956Expenses 2020: $502,907Net Income 2020: $161,0492020Revenue 2021: $827,974Expenses 2021: $564,322Net Income 2021: $263,6522021Revenue 2022: $853,420Expenses 2022: $585,341Net Income 2022: $268,0792022Revenue 2023: $611,289Expenses 2023: $635,892Net Income 2023: -$24,6032023Revenue 2024: $584,659Expenses 2024: $693,040Net Income 2024: -$108,3812024

Highlighted filing

2019

Revenue$690,156
Expenses$510,142
Net Income$180,014
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 16, 2020
Return Version
2019v5.1
Gross Receipts
$705,271
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$279,534$254,481▼ $25,053
Savings and Temporary Cash Investments$253,023$211,416▼ $41,607
Cash and Non-Interest-Bearing Accounts$87,894$167,815▲ $79,921
Investments in Publicly Traded Securities$36,122$53,102▲ $16,980
Accounts Receivable$19,398$43,000▲ $23,602
Pledges and Grants Receivable-$14,351-
Total Assets$720,971$789,165▲ $68,194
Other Assets Total$45,000$45,000→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$211,839$81,707▼ $130,132
Accounts Payable and Accrued Expenses$43,926$44,456▲ $530
Other Liabilities-$17,782-
Total Liabilities$255,765$143,945▼ $111,820
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$465,206$645,220▲ $180,014
Total Net Assets Fund Balance$465,206$645,220▲ $180,014
Total Liabilities and Net Assets / Fund Balance$720,971$789,165▲ $68,194

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$60,134$121,411$181,545
Buildings$107,309$59,791$167,100
Leasehold Improvements$87,038$63,704$150,742
Other Assets Org$45,000--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Gianne ConardPresident
Joanna OwenVice President
Alan CrichtonDirector
Jim DuffDirector
Lisa CohnDirector
Lorna CrichtonDirector
Nancy PerkinsDirector
Sandra RuchDirector
Scott KelleyDirector
Kim FlemingExecutive Director
Jody HendersonSecretary
David CohnTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$542,135
Program Service Revenue
$136,265
Investment Income
$11,756
Other Revenue
$0
All Other Contributions
$525,566
Change in Net Assets
$180,014
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$277,397
Salaries, Compensation, and Employee Benefits$232,745
Total Fundraising Expense$103,636
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$84,481$86,141$44,009$214,631
Occupancy$84,840--$84,840
Insurance$1,798$36,183-$37,981
Depreciation Depletion$24,097$575-$24,672
Payroll Taxes$7,064$7,246$3,804$18,114
Advertising$6,282$957$6,603$13,842
Fees for Services Accounting-$12,528-$12,528
Office Expenses$1,780$3,836$293$5,909
Fees for Services Other-$1,680$4,163$5,843
Other Expenses$2,880$1,157$821$4,858
Information Technology$221$1,090$1,367$2,678
Travel--$109$109
Total Functional Expenses$255,113$151,393$103,636$510,142
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
Key and Security Deposits$11,518
Capital One Credit Card$3,775
Payroll Liabilities$1,716
Scholarship Fund$773
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
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 governing body review Part VI line 11

The board of directors review the form 990 every year which is made available prior to filing.

Conflict of interest policy compliance Part VI line 12C

The board of directors review any conflicts of interest as they arise and conduct reviews regularly.

Governing documents etc available to public Part VI line 19

No other documents available to the public.

Filing and Contact Details

Filer

Filer Name
Waterfall Arts
EIN
01-0528831
Address
256 HIGH STREET, BELFAST, ME 04915

Signing Officer

Name
Kim Fleming
Title
Executive Direc
Phone
2073382222
Signed
2020-11-16
Discuss with paid preparer
Yes

Organization Details

Formed
2000
Legal Domicile
Me
Voting Board Members
12
Independent Board Members
12
Employees
10

Preparer

Firm
NR Bookkeeping Services Inc
Address
248 Northport Avenue Ste 9, Belfast, ME 04915
Preparer
Nina Richard
Phone
2075051904
Supplemental Narrative

Additional Explanations

Part III response or note to any other line in Part III

Eventsgenticorum in belfast with belfast flying shoes - musicians workshop, contra dance, and concertapril vacation camp - storytellers studio - led by youth and fmaily outreach - make a pop up book, create puppets and a puppet show, create posters in the print studio, and collaborate on a stop motion animation projectart together mornings (throughout the year) - a series of memorable mornings where adult and child create side-by-side! Each project is designed to fully engage all ages and stages; parents get their hands dirty enjoying the materials, while being guided with tips on supporting their young artists creativity.young artists studio - kids can work on their own projects, get help with a certain skill, or experiment with the many materials in the bridge studio. In november, waterfall arts hosted the future waterfall arts, unveiled which gave the community and the press alike a chance to learn firsthand about the exciting changes waterfall arts has in store for the building and why they matter. Various local dignitaries and community members spoke at the event. Renderings of the proposed changes, designed by local award-winning firm opal, were available to peruse. The proposed changes will shift the look and feel of this prominent historical buildingone of the first buildings people see when coming into town from route 1. Ensuring that waterfall arts programs and events are accessible to all, as well as securing the sustainability of the aging building are the key motivating factors behind this campaign.

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IRS990/MissionDesc0PROVIDING ACCESS TO THE ARTS, DESIGN, AND CREATIVE COLLABORATION FOR ALL AGES AND ABILITIES THROUGHOUT THE BELFAST AND MONTVILLE COMMUNITIES IN WALDO COUNTY, MAINE.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS REVIEW THE FORM 990 EVERY YEAR WHICH IS MADE AVAILABLE PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS REVIEW ANY CONFLICTS OF INTEREST AS THEY ARISE AND CONDUCT REVIEWS REGULARLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO OTHER DOCUMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3EVENTSGENTICORUM IN BELFAST WITH BELFAST FLYING SHOES - MUSICIANS WORKSHOP, CONTRA DANCE, AND CONCERTAPRIL VACATION CAMP - STORYTELLERS STUDIO - LED BY YOUTH AND FMAILY OUTREACH - MAKE A POP UP BOOK, CREATE PUPPETS AND A PUPPET SHOW, CREATE POSTERS IN THE PRINT STUDIO, AND COLLABORATE ON A STOP MOTION ANIMATION PROJECTART TOGETHER MORNINGS (THROUGHOUT THE YEAR) - A SERIES OF MEMORABLE MORNINGS WHERE ADULT AND CHILD CREATE SIDE-BY-SIDE! EACH PROJECT IS DESIGNED TO FULLY ENGAGE ALL AGES AND STAGES; PARENTS GET THEIR HANDS DIRTY ENJOYING THE MATERIALS, WHILE BEING GUIDED WITH TIPS ON SUPPORTING THEIR YOUNG ARTISTS CREATIVITY.YOUNG ARTISTS STUDIO - KIDS CAN WORK ON THEIR OWN PROJECTS, GET HELP WITH A CERTAIN SKILL, OR EXPERIMENT WITH THE MANY MATERIALS IN THE BRIDGE STUDIO. IN NOVEMBER, WATERFALL ARTS HOSTED THE FUTURE WATERFALL ARTS, UNVEILED WHICH GAVE THE COMMUNITY AND THE PRESS ALIKE A CHANCE TO LEARN FIRSTHAND ABOUT THE EXCITING CHANGES WATERFALL ARTS HAS IN STORE FOR THE BUILDING AND WHY THEY MATTER. VARIOUS LOCAL DIGNITARIES AND COMMUNITY MEMBERS SPOKE AT THE EVENT. RENDERINGS OF THE PROPOSED CHANGES, DESIGNED BY LOCAL AWARD-WINNING FIRM OPAL, WERE AVAILABLE TO PERUSE. THE PROPOSED CHANGES WILL SHIFT THE LOOK AND FEEL OF THIS PROMINENT HISTORICAL BUILDINGONE OF THE FIRST BUILDINGS PEOPLE SEE WHEN COMING INTO TOWN FROM ROUTE 1. ENSURING THAT WATERFALL ARTS PROGRAMS AND EVENTS ARE ACCESSIBLE TO ALL, AS WELL AS SECURING THE SUSTAINABILITY OF THE AGING BUILDING ARE THE KEY MOTIVATING FACTORS BEHIND THIS CAMPAIGN.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.47$0.52$0.94$0.58$0.69$0.11
2023Detailed filing. Detailed filing data is available for this year.$1.86$0.55$1.31$0.61$0.64$0.02
2022Detailed filing. Detailed filing data is available for this year.$1.94$0.60$1.34$0.85$0.59$0.27
2021Detailed filing. Detailed filing data is available for this year.$1.79$0.72$1.07$0.83$0.56$0.26
2020Detailed filing. Detailed filing data is available for this year.$1.15$0.34$0.81$0.66$0.50$0.16
2019Detailed filing. Detailed filing data is available for this year.$0.79$0.14$0.65$0.69$0.51$0.18
2018Detailed filing. Detailed filing data is available for this year.$0.72$0.26$0.47$0.59$0.47$0.12
2017Detailed filing. Detailed filing data is available for this year.$0.67$0.26$0.41$0.58$0.48$0.10
2016Detailed filing. Detailed filing data is available for this year.$0.61$0.30$0.31$0.40$0.37$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.60$0.32$0.28$0.39$0.34$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.50$0.27$0.24$0.29$0.31$0.03
2013Detailed filing. Detailed filing data is available for this year.$0.41$0.14$0.27$0.32$0.31$0.01
2012Summary only. Only limited summary data is available for this year.$0.40$0.16$0.25$0.37$0.34$0.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.38$0.16$0.22$0.22
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.38$0.19$0.20$0.18