Civic Intelligence

Waterfall Arts

990 • Fiscal year 2021 • EIN 01-0528831

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

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

80th percentile

0.40x

Higher debt load relative to assets than 80% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

86th percentile

0.87x

Higher debt load relative to revenue than 86% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

75th percentile

32%

Higher net margin than 75% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

88th percentile

56%

Faster asset growth than 88% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

62nd percentile

25%

Faster revenue growth than 62% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$1,786,226

Up $637,685 (+56%) from 2020

Net Assets

Up

$1,069,921

Up $263,652 (+33%) from 2020

Liabilities

Up

$716,305

Up $374,033 (+109%) from 2020

Revenue

Up

$827,974

Up $164,018 (+25%) from 2020

Expenses

Up

$564,322

Up $61,415 (+12%) from 2020

Net Income

Up

$263,652

Up $102,603 (+64%) from 2020

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

2021

Assets$1,786,226
Liabilities$716,305
Net Assets$1,069,921

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

2021

Revenue$827,974
Expenses$564,322
Net Income$263,652
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.2
Gross Receipts
$827,974
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
Cash and Non-Interest-Bearing Accounts$372,377$755,464▲ $383,087
Land, Buildings, and Equipment, Net$254,481$587,022▲ $332,541
Savings and Temporary Cash Investments$389,169$294,601▼ $94,568
Investments in Publicly Traded Securities$87,514$104,139▲ $16,625
Total Assets$1,148,541$1,786,226▲ $637,685
Other Assets Total$45,000$45,000→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$76,654$623,835▲ $547,181
Unsecured Notes Loans Payable$195,000$57,250▼ $137,750
Other Liabilities$27,793$29,432▲ $1,639
Accounts Payable and Accrued Expenses$42,825$5,788▼ $37,037
Total Liabilities$342,272$716,305▲ $374,033
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$806,269$1,069,921▲ $263,652
Total Net Assets Fund Balance$806,269$1,069,921▲ $263,652
Total Liabilities and Net Assets / Fund Balance$1,148,541$1,786,226▲ $637,685

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$419,579$113,584$533,163
Equipment$60,134$121,411$181,545
Buildings$107,309$59,791$167,100
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
$717,251
Program Service Revenue
$109,771
Investment Income
$952
Other Revenue
$0
All Other Contributions
$537,185
Change in Net Assets
$263,652
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$289,974
Other Expenses$274,348
Total Fundraising Expense$152,794
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$105,576$60,128$101,550$267,254
Fees for Services Management-$57,590-$57,590
Occupancy$29,486--$29,486
Fees for Services Other$24,537--$24,537
Depreciation Depletion$23,932$552-$24,484
Payroll Taxes$8,974$5,112$8,634$22,720
Fees for Services Accounting-$13,974-$13,974
Insurance-$12,033-$12,033
Advertising$518$1,170$8,985$10,673
Information Technology$694$948$2,276$3,918
Other Expenses$1,293$105$1,905$3,303
Interest-$883$23$906
Total Functional Expenses$242,625$168,903$152,794$564,322
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$13,723
Brex Cc$7,880
Payroll Liabilities$5,731
Capital One Credit Card$1,098
Scholarship Fund$1,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
2022-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
2000
Legal Domicile
Me
Voting Board Members
12
Independent Board Members
12
Employees
8
Volunteers
20

Preparer

Firm
NR Bookkeeping Services Inc
Address
248 Northport Avenue Ste 9, Belfast, ME 04915
Preparer
Nina Richard
Phone
2075051904
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IRS990/OtherExpensesGrp/Desc0PERFORMERS & INSTRUCTORS
IRS990/OtherExpensesGrp/Desc1CAPITAL CAMPAIGN ADMIN FEE
IRS990/OtherExpensesGrp/Desc2SUPPLIES
IRS990/OtherExpensesGrp/Desc3LICENSES & FEES
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IRS990/OtherExpensesGrp/FundraisingAmt14035
IRS990/OtherExpensesGrp/FundraisingAmt21905
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt016408
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IRS990/OtherExpensesGrp/ProgramServicesAmt21293
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IRS990/OtherExpensesGrp/TotalAmt125386
IRS990/OtherExpensesGrp/TotalAmt236824
IRS990/OtherExpensesGrp/TotalAmt33303
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IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1STUDIO RENTALS
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IRS990/ProgSrvcAccomActy2Grp/Desc0THE ORGANIZATION STARTED AN ANNUAL ARTIST RESIDENCY PROGRAM IN THE SUMMER OF 2021. EVERY YEAR AN ARTIST WILL SPEND TIME AT THE ORGANIZATION GIVING PATRONS THE OPPORTUNITY TO SEE VARIOUS TYPES OF ART MORE IN-DEPTH. THIS YEAR WE HOSTED PIPPIN FRISBIE-CALDER, WHO SPECIALIZES IN PRINTMAKING EXPLORING THE ISSUES OF CLIMATE-CHANGE, SPECIES EXTINCTION, AND ENVIRONMENTAL STEWARDSHIP. AS TIME GOES ON, WE HOPE TO ADD MORE RESIDENCIES YEARLY.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt04977
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt01000
IRS990/ProgSrvcAccomActy3Grp/Desc0OUR LIFE DRAWING CLASSES HAVE GROWN IN 2021. WE WERE ABLE TO HAVE CLASSES OUTSIDE, WHEN THE WEATHER PERMITTED, AND WE EXPANDED THE NUMBER OF DAYS THAT CLASSES WERE OFFERED. THESE CLASSES OFFER DRAWING INSTRUCTION TO ANYONE IN LONG AND SHORT POSES.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt01600
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt03000
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IRS990/PYContributionsGrantsAmt0574010
IRS990/PYExcessBenefitTransInd0false
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IRS990/PYOtherExpensesAmt0206877
IRS990/PYProgramServiceRevenueAmt086066
IRS990/PYRevenuesLessExpensesAmt0161049
IRS990/PYSalariesCompEmpBnftPaidAmt0296030
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IRS990/PYTotalRevenueAmt0663956
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IRS990/QuidProQuoContriDisclInd0true
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IRS990/ReconcilationRevenueExpnssAmt0263652
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt023348
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0389169
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0294601
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0691465
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0487930
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0542135
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0384041
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0402261
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt01173
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt01807
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0783
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0135557
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt092423
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0136265
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0174092
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0162642
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0700979
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01173
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt01440
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt01807
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0783
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt036749
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt041952
IRS990ScheduleA/InvestmentIncomeCYPct00.01000
IRS990ScheduleA/InvestmentIncomePYPct00.02000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98710
IRS990ScheduleA/PublicSupportPY509Pct00.98330
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IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0580353
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0678400
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0558133
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0564903
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0581793
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0680207
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0558916
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0601652
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt03250763
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
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IRS990/ScheduleBRequiredInd0true
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt059791
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0167100
IRS990ScheduleD/EquipmentGrp/BookValueAmt060134
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0121411
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0181545
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0419579
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0113584
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0533163
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt045000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ARTWORK
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01098
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt15731
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt21000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt313723
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt47880
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CAPITAL ONE CREDIT CARD
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PAYROLL LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SCHOLARSHIP FUND
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3KEY AND SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4BREX CC
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0587022
IRS990ScheduleD/TotalBookValueOtherAssetsAmt045000
IRS990ScheduleD/TotalLiabilityAmt029432
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19

Document Assets

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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