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Waterfall Arts FY2020 filing

Tax-deductible

Belfast, ME501(c)(3)Arts & Culture EIN 01-0528831Revenue $664K in FY2020

On file with the IRSwaterfallarts.org256 High St, 04915-6608 · Belfast, METax-exempt since Jan 2003Publicly supported — 509(a)(2)

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Providing access to the Arts, design, and creative collaboration for all ages and abilities throughout the belfast and montville communities in waldo county, maine.

501(c)(3) charity; gifts are tax-deductible.
36¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $112K a year · 16% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
36%
of spending
Concern: 36% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
18 mo
of spending, in cash
Looks good: 18.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $1K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$342K
30% of total assets
Looks good: liabilities are 30% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$664K
Spent
$503K
To programs
36%
Net assets
$806K
By yearFY2020–FY2024
Revenue
$664K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$664K
FY2021$828K
FY2022$853K
FY2023$611K
FY2024$585K
Expenses
$503K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$503K
FY2021$564K
FY2022$585K
FY2023$636K
FY2024$693K
Net assets
$806K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$806K
FY2021$1.1M
FY2022$1.3M
FY2023$1.3M
FY2024$941K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 2003.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

36 cents of each dollar spent went to programs.

Program services 36% · $181K Management & general 35% · $177K Fundraising 29% · $145K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Jim Duff
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Scott Kelley
Director
$0Pt VII · Sec A
Lisa Cohn
Director
$0Pt VII · Sec A
Joanna Owen
Vice President
$0Pt VII · Sec A
Gianne Conard
President
$0Pt VII · Sec A
See Waterfall Arts executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers arts, design, and creative collaboration access to all in Belfast and Montville.

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Provided by the organization

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1 program · $181K · in their own filed words · FY2020
01

With the onset of COVID-19, our organization continued to support the community through arts education. We pivoted to offer programming via zoom and outside during the summer. We converted our main exhibition for the year to a virtual tour to ensure that we could bring the arts to everyone.

$181Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Morris David Dorenfeld FoundationFY2025$1K
Total grants receivedfrom 1 funder$1K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$664K
Ln 12
Gifts and grantsLn 1h$574K
Fees for servicesLn 2g$86K
Investment incomeLn 3$4K
Money outPt IX
$503K
Ln 25
Programscol B$181K
Managementcol C$177K
Fundraisingcol D$145K
Owns and owesPt X
$806K
net assets · Ln 32
Cash and savingsLn 1–2$762K
Total assetsLn 16$1.1M
LiabilitiesLn 26$342K
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$574K
Government grantsLn 1e$34K
Fundraising eventsLn 1c$83K
Fees for servicesLn 2g$86K
Investment incomeLn 3$4K
Gains on assetsLn 7$3K
Total revenueLn 12$664K
Assets in detailPt X, end of year
CashLn 1$372K
SavingsLn 2$389K
Cash and savings togetherLn 1–2$762K
InvestmentsLn 11–13$88K
Land, buildings, equipmentLn 10c$254K
Other assetsLn 15$45K
Total assetsLn 16$1.1M
LiabilitiesLn 26$342K
Net assetsLn 32$806K
OperationsPt I, VI
EmployeesI 58
VolunteersI 620
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$379K$762K
InvestmentsLn 11–13$53K$88K
Land, buildings, equipmentLn 10c$254K$254K
Total assetsLn 16$789K$1.1M
LiabilitiesLn 26$144K$342K
Net assetsLn 32$645K$806K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$274K$123K$59K$92K
Payroll taxesLn 10$23K$10K$5K$8K
Management feesLn 11a$79K$79K
Accounting feesLn 11c$14K$14K
Other fees for servicesLn 11g$2K$2K
Advertising and promotionLn 12$3K$2K$626
Office expensesLn 13$7K$2K$3K$2K
InterestLn 20$4K$4K
Depreciation, depletion and amortizationLn 22$23K$22K$920
InsuranceLn 23$13K$3K$10K
Other expenses (24a–d)Ln 24$28K$15K$1K$11K
All other expensesLn 24e$36K$5K$2K$29K
Total functional expensesLn 25$503K$181K$177K$145K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $585K$693K−$108K$941K 990 PDF
FY2023 $611K$636K−$25K$1.3M 990 PDF
FY2022 $853K$585K$268K$1.3M 990 PDF
FY2021 $828K$564K$264K$1.1M 990 PDF
FY2020 Viewing $664K$503K$161K$806K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $663,956 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $542,135$574,010
I-9 Program service revenuePrior year $136,265$86,066
I-10 Investment incomePrior year $11,756$3,880
I-11 Other revenue$0
I-12 Total revenuePrior year $690,156$663,956
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $232,745$296,030
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $277,397$206,877
I-18 Total expensesPrior year $510,142$502,907
I-19 Revenue less expensesPrior year $180,014$161,049
Part VI · Governance 12 of 12 board members independent, 2 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $663,956 across 9 lines filed
VIII-1b Membership dues$2,025
VIII-1c Fundraising events$82,638
VIII-1e Government grants$34,057
VIII-1f All other contributions, gifts and grants$455,290
VIII-1h Total contributions, gifts and grants$574,010
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $86,066$86,066
VIII-3 Investment incomeRelated to mission $984$984
VIII-7 Net gain or loss on sales of assetsRelated to mission $2,896$2,896
VIII-12 Total revenueRelated to mission $89,946 · Unrelated business $0 · Excluded from tax $0$663,956
Part IX · Statement of functional expenses $502,907 across 12 lines filed
IX-7 Other salaries and wagesPrograms $122,724 · Management $58,581 · Fundraising $92,213$273,518
IX-10 Payroll taxesPrograms $10,131 · Management $4,727 · Fundraising $7,654$22,512
IX-11a Management feesManagement $78,636$78,636
IX-11c Accounting feesManagement $14,027$14,027
IX-11g Other fees for servicesFundraising $2,025$2,025
IX-12 Advertising and promotionPrograms $1,999 · Fundraising $626$2,625
IX-13 Office expensesPrograms $1,635 · Management $2,585 · Fundraising $2,428$6,648
IX-20 InterestManagement $4,052$4,052
IX-22 Depreciation, depletion and amortizationPrograms $21,691 · Management $920$22,611
IX-23 InsurancePrograms $2,546 · Management $9,986$12,532
IX-24 Other expenses (24a–d)Programs $15,462 · Management $1,383 · Fundraising $10,879$27,724
IX-24e All other expensesPrograms $5,142 · Management $2,175 · Fundraising $28,680$35,997
IX-25 Total functional expensesPrograms $181,330 · Management $177,072 · Fundraising $144,505$502,907
Part X · Balance sheet $1,148,541 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $167,815$372,377
X-2 Savings and temporary cash investmentsStart of year $211,416$389,169
X-10c Land, buildings and equipment, netStart of year $254,481$254,481
X-11 Publicly traded securitiesStart of year $53,102$87,514
X-15 Other assetsStart of year $45,000$45,000
X-16 Total assetsStart of year $789,165$1,148,541
X-17 Accounts payable and accrued expensesStart of year $44,456$42,825
X-24 Unsecured notes and loans payable$195,000
X-25 Other liabilitiesStart of year $17,782$27,793
X-26 Total liabilitiesStart of year $143,945$342,272
X-27 Net assets without donor restrictionsStart of year $645,220$806,269
X-32 Total net assets or fund balancesStart of year $645,220$806,269
X-33 Total liabilities and net assetsStart of year $789,165$1,148,541
Part XI · Reconciliation of net assets $806,269 net assets at year end
XI-1 Total revenue$663,956
XI-2 Total expenses$502,907
XI-3 Revenue less expenses$161,049
XI-4 Net assets at start of year$645,220
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$806,269

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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