Civic Intelligence

Artwaves

990 • Fiscal year 2023 • EIN 82-1844074

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 28, 2024

Organization ProfileWWW.ARTWAVESMDI.ORG
1345-a State Hwy 102Bar Harbor, ME 04609

(404) 502-8095

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.77x

Higher debt load relative to assets than 92% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

96th percentile

3.16x

Higher debt load relative to revenue than 96% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

25th percentile

-9.1%

Higher net margin than 25% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

25th percentile

-5.4%

Faster asset growth than 25% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

11th percentile

-32%

Faster revenue growth than 11% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Down

$606,707

Down $34,546 (-5.4%) from 2022

Net Assets

Down

$140,148

Down $15,279 (-9.8%) from 2022

Liabilities

Down

$466,559

Down $19,267 (-4.0%) from 2022

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin25th percentile

Revenue

Down

$147,699

Down $70,038 (-32%) from 2022

Expenses

Up

$161,178

Up $44,664 (+38%) from 2022

Net Income

Down

-$13,479

Down $114,702 (-113%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth25th percentile

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

$800K$600K$400K$200K$0Assets 2017: $13,952Liabilities 2017: $3,225Net Assets 2017: $10,7272017Assets 2018: $7,923Liabilities 2018: $4,300Net Assets 2018: $3,6232018Assets 2019: $525,623Liabilities 2019: $518,157Net Assets 2019: $7,4662019Assets 2020: $529,427Liabilities 2020: $510,545Net Assets 2020: $18,8822020Assets 2021: $551,867Liabilities 2021: $497,663Net Assets 2021: $54,2042021Assets 2022: $641,253Liabilities 2022: $485,826Net Assets 2022: $155,4272022Assets 2023: $606,707Liabilities 2023: $466,559Net Assets 2023: $140,1482023Assets 2024: $633,601Liabilities 2024: $450,751Net Assets 2024: $182,8502024

Highlighted filing

2023

Assets$606,707
Liabilities$466,559
Net Assets$140,148
Open 2023 Filing

Operations Trend

Revenue Growth11th percentile

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

$300K$200K$100K$0-$100KRevenue 2017: $42,878Expenses 2017: $32,151Net Income 2017: $10,7272017Revenue 2018: $115,477Expenses 2018: $122,581Net Income 2018: -$7,1042018Revenue 2019: $90,029Expenses 2019: $86,255Net Income 2019: $3,7742019Revenue 2020: $81,414Expenses 2020: $68,010Net Income 2020: $13,4042020Revenue 2021: $95,994Expenses 2021: $55,147Net Income 2021: $40,8472021Revenue 2022: $217,737Expenses 2022: $116,514Net Income 2022: $101,2232022Revenue 2023: $147,699Expenses 2023: $161,178Net Income 2023: -$13,4792023Revenue 2024: $183,850Expenses 2024: $141,148Net Income 2024: $42,7022024

Highlighted filing

2023

Revenue$147,699
Expenses$161,178
Net Income-$13,479
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 28, 2024
Return Version
2023v5.0
Gross Receipts
$167,844
Mission and Program Overview

Mission

Artwaves serves as a center of learning, engagement and community for individuals at every skill level to experience and create art.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$472,651$476,918▲ $4,267
Cash and Non-Interest-Bearing Accounts$151,671$113,651▼ $38,020
Loans From Officers Directors$115,248$105,248▼ $10,000
Intangible Assets$13,404$12,611▼ $793
Savings and Temporary Cash Investments$3,527$3,527→ $0
Total Assets$641,253$606,707▼ $34,546
Liabilities
Mortgage Notes Payable Secured by Investment Property$370,578$361,311▼ $9,267
Total Liabilities$485,826$466,559▼ $19,267
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$155,427$140,148▼ $15,279
Total Net Assets Fund Balance$155,427$140,148▼ $15,279
Total Liabilities and Net Assets / Fund Balance$641,253$606,707▼ $34,546

Asset Categories

AssetBook ValueDepreciationBasis
Land$225,676-$225,676
Other Land Buildings$251,242$31,483$210,879
Compensation and Service Providers
Top Officer Pay54th percentile

Board Members and Trustees

NameTitle
Jaime Torres JrPresident
Lothar TholzkeMember at La
Liz CutlerTreasurer
Donna DomianoVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$56,696
Program Service Revenue
$70,392
Investment Income
$1
Other Revenue
$20,610
All Other Contributions
$43,756
Change in Net Assets
$-13,479
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$102,307
Salaries, Compensation, and Employee Benefits$58,871
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$45,659$8,058-$53,717
Fees for Services Other$42,684--$42,684
Occupancy$19,277--$19,277
Interest$14,133--$14,133
Advertising$6,330--$6,330
Depreciation Depletion$6,314--$6,314
Fees for Services Accounting-$5,458-$5,458
Payroll Taxes$4,381$773-$5,154
Insurance$4,123--$4,123
Office Expenses$3,988--$3,988
Total Functional Expenses$146,889$14,289$0$161,178
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$115,248$105,248▼ $10,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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, Page 6, Part VI, Line 11B

“The officers of the organization will review the 990 prior to it being filed.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Artwaves
EIN
82-1844074
Phone
4045028095
Address
1345-A STATE HWY 102, BAR HARBOR, ME 04609

Signing Officer

Name
Jaime Torres Jr
Title
President
Phone
2072660010
Signed
2024-10-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jaime Torres Jr
Formed
2017
Legal Domicile
Me
Voting Board Members
4
Independent Board Members
4
Employees
4
Volunteers
50

Preparer

Firm
Coston & Mcisaac Cpas Chartered
Address
38 RODICK ST, BAR HARBOR, ME 04609
Preparer
Melinda Workman
Phone
2072889458
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Subcontracted labor 34,516 0 0 dues and subscriptions 85 0 0 bank fees 2,206 0 0 program supplies 5,784 0 0 development/fundraising 95 0 0 rounding -2 0 0 total 42,684 0 0”

Form 990, Part XI, Line 9

“Prior year adjustment -1,800”

Raw XML Appendix337 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SUBCONTRACTED LABOR 34,516 0 0 DUES AND SUBSCRIPTIONS 85 0 0 BANK FEES 2,206 0 0 PROGRAM SUPPLIES 5,784 0 0 DEVELOPMENT/FUNDRAISING 95 0 0 ROUNDING -2 0 0 TOTAL 42,684 0 0
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt014289
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0146889
IRS990/TotalFunctionalExpensesGrp/TotalAmt0161178
IRS990/TotalGrossUBIAmt020610
IRS990/TotalLiabilitiesBOYAmt0485826
IRS990/TotalLiabilitiesEOYAmt0466559
IRS990/TotalLiabilitiesGrp/BOYAmt0485826
IRS990/TotalLiabilitiesGrp/EOYAmt0466559
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0140148
IRS990/TotalProgramServiceExpensesAmt0146889
IRS990/TotalProgramServiceRevenueAmt070392
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt070393
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0147699
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt020610
IRS990/TotalVolunteersCnt050
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0641253
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0606707
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.ARTWAVESMDI.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JAIME TORRES JR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02072660010
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-10-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ARTWAVES
ReturnHeader/Filer/BusinessNameControlTxt0ARTW
ReturnHeader/Filer/EIN0821844074
ReturnHeader/Filer/PhoneNum04045028095
ReturnHeader/Filer/USAddress/AddressLine1Txt01345-A STATE HWY 102
ReturnHeader/Filer/USAddress/CityNm0BAR HARBOR
ReturnHeader/Filer/USAddress/StateAbbreviationCd0ME
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0010426847
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0COSTON & MCISAAC CPAS CHARTERED
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt038 RODICK ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BAR HARBOR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0ME
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd004609
ReturnHeader/PreparerPersonGrp/PhoneNum02072889458
ReturnHeader/PreparerPersonGrp/PreparationDt02024-10-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MELINDA WORKMAN
ReturnHeader/ReturnTs02024-11-06T14:24:44-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$606,707
Liabilities
$466,559
Net assets
$140,148
Revenue
$147,699
Expenses
$161,178
Net income
-$13,479
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.34$4.51$1.83$1.84$1.41$0.43
2023Detailed filing. Detailed filing data is available for this year.$6.07$4.67$1.40$1.48$1.61$0.13
2022Detailed filing. Detailed filing data is available for this year.$6.41$4.86$1.55$2.18$1.17$1.01
2021Detailed filing. Detailed filing data is available for this year.$5.52$4.98$0.54$0.96$0.55$0.41
2020Detailed filing. Detailed filing data is available for this year.$5.29$5.11$0.19$0.81$0.68$0.13
2019Detailed filing. Detailed filing data is available for this year.$5.26$5.18$0.07$0.90$0.86$0.04
2018Detailed filing. Detailed filing data is available for this year.$0.08$0.04$0.04$1.15$1.23$0.07
2017Detailed filing. Detailed filing data is available for this year.$0.14$0.03$0.11$0.43$0.32$0.11