Civic Intelligence

Waterloo Arts

990 • Fiscal year 2021 • EIN 20-0639943

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

Organization ProfileWaterlooarts.org
15605 Waterloo RoadCleveland, OH 44110

(216) 692-9500

Siviq Scores

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

Liabilities / Assets

69th percentile

0.14x

Higher debt load relative to assets than 69% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

76th percentile

0.24x

Higher debt load relative to revenue than 76% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

81st percentile

41%

Higher net margin than 81% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

63rd percentile

$40,000

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 10.8% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

76th percentile

33%

Faster asset growth than 76% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

72nd percentile

45%

Faster revenue growth than 72% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets69th percentile

Assets

Up

$648,652

Up $159,608 (+33%) from 2020

Net Assets

Up

$560,513

Up $151,456 (+37%) from 2020

Liabilities

Up

$88,139

Up $8,152 (+10%) from 2020

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin81st percentile

Revenue

Up

$370,721

Up $114,501 (+45%) from 2020

Expenses

Up

$219,265

Up $52,318 (+31%) from 2020

Net Income

Up

$151,456

Up $62,183 (+70%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth76th percentile

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

$1.0M$500K$0Assets 2010: $321,009Liabilities 2010: $78,896Net Assets 2010: $242,1132010Assets 2011: $322,140Liabilities 2011: $119,615Net Assets 2011: $202,5252011Assets 2012: $346,419Liabilities 2012: $105,609Net Assets 2012: $240,8102012Assets 2013: $332,751Liabilities 2013: $91,106Net Assets 2013: $241,6452013Assets 2014: $270,294Liabilities 2014: $109,727Net Assets 2014: $160,5672014Assets 2015: $308,735Liabilities 2015: $82,803Net Assets 2015: $225,9322015Assets 2016: $299,606Liabilities 2016: $65,504Net Assets 2016: $234,1022016Assets 2017: $312,505Liabilities 2017: $48,730Net Assets 2017: $263,7752017Assets 2018: $356,446Liabilities 2018: $64,701Net Assets 2018: $291,7452018Assets 2019: $367,722Liabilities 2019: $47,938Net Assets 2019: $319,7842019Assets 2020: $489,044Liabilities 2020: $79,987Net Assets 2020: $409,0572020Assets 2021: $648,652Liabilities 2021: $88,139Net Assets 2021: $560,5132021Assets 2022: $995,518Liabilities 2022: $296,593Net Assets 2022: $698,9252022Assets 2023: $927,099Liabilities 2023: $312,475Net Assets 2023: $614,6242023Assets 2024: $865,235Liabilities 2024: $307,366Net Assets 2024: $557,8692024

Highlighted filing

2021

Assets$648,652
Liabilities$88,139
Net Assets$560,513
Open 2021 Filing

Operations Trend

Revenue Growth72nd percentile

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

$400K$200K$0-$200KRevenue 2010: $145,655Expenses 2010: $136,097Net Income 2010: $9,5582010Revenue 2011: $329,024Expenses 2011: $319,428Net Income 2011: $9,5962011Expenses 2012: $198,8772012Revenue 2013: $170,509Expenses 2013: $169,674Net Income 2013: $8352013Revenue 2014: $184,844Expenses 2014: $157,416Net Income 2014: $27,4282014Revenue 2015: $215,894Expenses 2015: $151,791Net Income 2015: $64,1032015Revenue 2016: $139,946Expenses 2016: $131,776Net Income 2016: $8,1702016Revenue 2017: $186,247Expenses 2017: $156,574Net Income 2017: $29,6732017Revenue 2018: $192,487Expenses 2018: $164,517Net Income 2018: $27,9702018Revenue 2019: $190,480Expenses 2019: $162,441Net Income 2019: $28,0392019Revenue 2020: $256,220Expenses 2020: $166,947Net Income 2020: $89,2732020Revenue 2021: $370,721Expenses 2021: $219,265Net Income 2021: $151,4562021Revenue 2022: $344,522Expenses 2022: $226,896Net Income 2022: $117,6262022Revenue 2023: $120,420Expenses 2023: $204,721Net Income 2023: -$84,3012023Revenue 2024: $161,096Expenses 2024: $217,851Net Income 2024: -$56,7552024

Highlighted filing

2021

Revenue$370,721
Expenses$219,265
Net Income$151,456
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 15, 2022
Return Version
2021v4.2
Gross Receipts
$370,721
Mission and Program Overview

Mission

To enrich the neighborhood culturally by creating a stimulating arts environment through quality exhibits, performances, community events and educational arts programing for all ages.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$204,409$399,307▲ $194,898
Savings and Temporary Cash Investments$178,001$146,464▼ $31,537
Cash and Non-Interest-Bearing Accounts$45,160$76,920▲ $31,760
Accounts Receivable$61,474$25,961▼ $35,513
Total Assets$489,044$648,652▲ $159,608
Liabilities
Mortgage Notes Payable Secured by Investment Property$72,687$69,600▼ $3,087
Accounts Payable and Accrued Expenses$7,300$18,539▲ $11,239
Total Liabilities$79,987$88,139▲ $8,152
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$131,945$312,669▲ $180,724
Net Assets With Donor Restrictions$277,112$247,844▼ $29,268
Total Net Assets Fund Balance$409,057$560,513▲ $151,456
Total Liabilities and Net Assets / Fund Balance$489,044$648,652▲ $159,608

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$399,307$131,808$531,115
Other Land Buildings-$25,000$25,000
Compensation and Service Providers
Top Officer Pay63rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Amy CallahanExecutive DirectorFT$40,000$40,000

Board Members and Trustees

NameTitle
Danielle UvaPresident
Jonathan CooperVice President
Adam BradfordBoard member
Andrea WhitakerBoard member
Lane CooperBoard member
Michael McBrideBoard member
Nancy KennedyBoard member
Susan Marie SweeneyBoard member
Leanne AndryscoSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$296,028
Program Service Revenue
$74,655
Investment Income
$38
Other Revenue
$0
All Other Contributions
$39,687
Change in Net Assets
$151,456
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$134,425
Salaries, Compensation, and Employee Benefits$84,840
Total Fundraising Expense$15,686
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$28,983$8,813$2,204$40,000
Other Salaries and Wages$33,967$2,203$2,517$38,687
Occupancy$21,089$3,829$1,667$26,585
Fees for Services Other$12,818-$3,925$16,743
Depreciation Depletion$6,273$1,604$535$8,412
Insurance$2,250$4,567-$6,817
Payroll Taxes$4,923$861$369$6,153
Fees for Services Accounting-$5,249-$5,249
Interest-$4,846-$4,846
All Other Expenses$3,684$806$157$4,647
Advertising$4,480--$4,480
Office Expenses$396$2,013$1,468$3,877
Other Expenses$13,489$366$2,844$3,210
Travel-$229-$229
Total Functional Expenses$168,193$35,386$15,686$219,265
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
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 governing body review Part VI line 11

“The Executive Director reviews the Federal Form 990 and makes it available to Board members upon request.”

Conflict of interest policy compliance Part VI line 12C

“Annually, the Board reviews any conflicts of interest issues disclosed by trustees.”

CEO executive director top management comp Part VI line 15A

“Annually, the Board approves the Executive Directors compensation.”

Form 990 availability to public Part VI line 18

“The Federal form 990 is provided to anyone who submits a written request.”

Governing documents etc available to public Part VI line 19

“Governing documents, conflict of interest, and financial statements are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Waterloo Arts
EIN
20-0639943
Address
15605 Waterloo Road, Cleveland, OH 44110

Signing Officer

Name
Amy Callahan
Title
Executive Direc
Phone
2166929500
Signed
2022-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Amy Callahan
Formed
2004
Legal Domicile
Oh
Voting Board Members
9
Independent Board Members
9
Employees
1
Volunteers
55

Preparer

Firm
Koester DiSalvo and Fried
Address
5587 Turney Road, Garfield Heights, OH 44125
Preparer
KC Koester
Phone
2164757844
Supplemental Narrative

Additional Explanations

List of other fees for services expenses Part IX line 11G

“Consultants”

Financial Statement Notes

Footnote for uncertain tax position under FIN 48 (Part X)

“Waterloo Arts complies with FASB ASC 740-Accounting for Uncertainty in Income Taxes. FASB ASC 740 details how companies should recognize, measure, present and disclose uncertain tax positions that have been or are expected to be taken. As such, the financial statements would reflect expected future tax consequences of uncertain tax positions presuming the taxing authorities full knowledge of the position and all relevant facts, if they existed. Management believes that there are no uncertain tax positions. The organizations tax years that remain subject to examination by the Internal Revenue Service are fiscal years ended December 31, 2018 and forward.”

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IRS990/PrincipalOfficerNm0Amy Callahan
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IRS990/ProgramServiceRevenueGrp/Desc1Rental income
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt127670
IRS990/ProgSrvcAccomActy2Grp/Desc0Education and Community Programs - Waterloo Arts is situated in the center of a walkable arts district and in 2020 and 2021, they worked with local residents to renovate some neglected flower beds in the district in a program titled, The Green Palette. The program included an educational webinar series for participants and a volunteer recognition event. Waterloo Arts Round Robin youth arts education program exposes students to a variety of art media while making use of the many cultural assets in the Waterloo Arts & Entertainment District. During the Round Robin workshop, students visit a variety of artists studios in the District. In addition to these community programs, the art center also houses low-cost artist studio space and a blackbox theater where they host a resident theater company, Playwrights Local.
IRS990/ProgSrvcAccomActy3Grp/Desc0Gallery - In 2021, the Gallery at Waterloo Arts presented the work of 125 artists in seven exhibits which included solo and small group exhibits, a national Juried Exhibit, and a co-op holiday sale. In addition, four online artist talks were presented live and recorded for later viewing. The Gallery is curated by the staff at Waterloo Arts and a volunteer Gallery Committee of art professionals who are committed to showing a diverse group of artists and creating a welcoming, accessible atmosphere in which to experience art.
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt027670
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IRS990/PYInvestmentIncomeAmt026
IRS990/PYOtherExpensesAmt0118377
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IRS990/PYSalariesCompEmpBnftPaidAmt048570
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IRS990/PYTotalRevenueAmt0256220
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt038
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0131808
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Waterloo Arts complies with FASB ASC 740-Accounting for Uncertainty in Income Taxes. FASB ASC 740 details how companies should recognize, measure, present and disclose uncertain tax positions that have been or are expected to be taken. As such, the financial statements would reflect expected future tax consequences of uncertain tax positions presuming the taxing authorities full knowledge of the position and all relevant facts, if they existed. Management believes that there are no uncertain tax positions. The organizations tax years that remain subject to examination by the Internal Revenue Service are fiscal years ended December 31, 2018 and forward.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Footnote for uncertain tax position under FIN 48 (Part X)
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0399307
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Executive Director reviews the Federal Form 990 and makes it available to Board members upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Annually, the Board reviews any conflicts of interest issues disclosed by trustees.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Annually, the Board approves the Executive Directors compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Federal form 990 is provided to anyone who submits a written request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Governing documents, conflict of interest, and financial statements are made available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Consultants
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990 availability to public Part VI line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5List of other fees for services expenses Part IX line 11g
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0168193
IRS990/TotalFunctionalExpensesGrp/TotalAmt0219265
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IRS990/TotalLiabilitiesGrp/BOYAmt079987
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0370721
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$648,652
Liabilities
$88,139
Net assets
$560,513
Revenue
$370,721
Expenses
$219,265
Net income
$151,456
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.65$3.07$5.58$1.61$2.18$0.57
2023Detailed filing. Detailed filing data is available for this year.$9.27$3.12$6.15$1.20$2.05$0.84
2022Detailed filing. Detailed filing data is available for this year.$9.96$2.97$6.99$3.45$2.27$1.18
2021Detailed filing. Detailed filing data is available for this year.$6.49$0.88$5.61$3.71$2.19$1.51
2020Detailed filing. Detailed filing data is available for this year.$4.89$0.80$4.09$2.56$1.67$0.89
2019Detailed filing. Detailed filing data is available for this year.$3.68$0.48$3.20$1.90$1.62$0.28
2018Detailed filing. Detailed filing data is available for this year.$3.56$0.65$2.92$1.92$1.65$0.28
2017Detailed filing. Detailed filing data is available for this year.$3.13$0.49$2.64$1.86$1.57$0.30
2016Detailed filing. Detailed filing data is available for this year.$3.00$0.66$2.34$1.40$1.32$0.08
2015Detailed filing. Detailed filing data is available for this year.$3.09$0.83$2.26$2.16$1.52$0.64
2014Detailed filing. Detailed filing data is available for this year.$2.70$1.10$1.61$1.85$1.57$0.27
2013Summary only. Only limited summary data is available for this year.$3.33$0.91$2.42$1.71$1.70$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.46$1.06$2.41$1.99
2011Summary only. Only limited summary data is available for this year.$3.22$1.20$2.03$3.29$3.19$0.10
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.21$0.79$2.42$1.46$1.36$0.10