Waterloo Arts EIN 20-0639943 Form 990 (PDF) Claim this org

Waterloo Arts FY2020 filing

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Enriching neighborhoods culturally with arts exhibits, performances, events, and educational programs for all ages. For fiscal year 2020 it reported $256K in revenue, $167K in expenses, and $409K in net assets.Pt I

Type
Public charity (501(c)(3)) · Arts & Culture
Location
Cleveland, OH
Website
waterlooarts.org
Filings
5 on file (2020–2020)
Revenue
$256KFY2020
Expenses
$167K
Net assets
$409K
People
10
Filings
5
Updates
0
More identity details & actions ⌄
EIN  20-0639943 Public charity (501(c)(3)) Cleveland, OH
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Enriching neighborhoods culturally with arts exhibits, performances, events, and educational programs for all ages.
Leadership
Amy Callahan · Executive Director · $67K
Money in and out
$256K revenue, $167K expenses
Bottom line
80% program efficiency
Where the money goes · FY2020
Total revenue
$256K
Pt VIII · Ln 12
Total expenses
$167K
Pt IX · Ln 25
Net assets
$409K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $89K
Where spending went · Part IX cols B–D
Program services $0.80 Management & general $0.13 Fundraising $0.07
Program efficiency
80%
of spending reaches programs
Operating runway
16.0mo
months of highly liquid reserves at operating expense rate
Surplus margin
+35%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$256K
FY2020
Expenses
$167K
FY2020
Total assets
$489K
FY2020
Total liabilities
$80K
FY2020
Total revenue
$256K
Pt VIII · Ln 12
Total expenses
$167K
Pt IX · Ln 25
Net assets
$409K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$89K
Total assetsPt X · Ln 16$489K
Program-expense ratioPt IX · col B80%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWaterloo Arts
EINHdr · item D20-0639943
Principal addressHdr · item CCleveland, OH
WebsiteHdr · item Jwaterlooarts.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MOH
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A20)
Ruling yearIRS BMFMay 2004

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$66,880Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
President
$0Pt VII · Sec A

Amy Callahan’s $43K as Executive Di is at the 38th percentile of top reported officer pay among 2212 $100K–1M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Amy Callahan$40,000$66,880
Amy Callahan$43,333$43,333$40,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

3 program services account for $134K of program spending, described in the organization's own filed words · FY2020.
01

In 2020 Waterloo Arts was unable to present the annual Waterloo Arts Fest due to Covid 19. Instead, they began a community engagement project and gardening project that allowed participants to work outside and social distance while still staying connected.

$55Kprogram expense
02

Education and Community Programs

Waterloo Arts provides youth education classes that expose children to a wide variety of art forms and connect them to the Collinwood neighborhood. In the Round Robin program, students visit and work in multiple studios in the walkable Waterloo Arts District.

$44Kprogram expense
03

The gallery at Waterloo Arts showcases the work of local and national contemporary artists in 7-10 exhibits a year. In addition to solo and small group exhibits, the gallery has curated a number of themed shows, addressing topics such as, Trans* identity, violence against People of Color, vacancy, and depression.

$35Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$221K · 86%
Other revenue$19K · 7%
Program service revenue$16K · 6%
Contributions & grants86%$221K
Other revenue7%$19K
Program service revenue6%$16K
Investment income$26
— government grantsLn 1e$106K
Total revenueLn 12$256K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.80 Management & general $0.13 Fundraising $0.07
Program services80%$134K
Management & general13%$22K
Fundraising7%$11K
Total functional expensesLn 25$167K

Balance Sheet

Part X · end of year
CashLn 1$223K
Total assetsLn 16$489K
Total liabilitiesLn 26$80K
Total net assetsLn 32$409K
Months of cash on handcomputed16.0

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $223K · Operating expenses/yr $167K
16.0 months
Where the money goes
Program services
Program services $134K · Total expenses $167K
80%
Management & General
Management & general $22K · Total expenses $167K
13%
Fundraising
Fundraising $11K · Total expenses $167K
7%
Cost to raise $1
Fundraising expense $11K · Solicited contributions $115K
$0.10 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $221K · Total revenue $256K
86%
Government reliance
Government grants $106K · Total revenue $256K
41%
Earned-income share
Program service revenue $16K · Total revenue $256K
6%
Investment reliance
Investment income $26 · Total revenue $256K
+0.01%
Program self-sufficiency
Program service revenue $16K · Total expenses $167K
9%
Growth & trend
Revenue growth (YoY)
This year $256K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $409K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $256K · Expenses $167K
+35%
Liabilities-to-Assets
Total liabilities — · Total assets $489K
Net-asset ratio
Net assets $409K · Total assets $489K
84%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $489K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Amy Callahan · Reported title Executive Director · Highest reported compensation $67K · Total expenses $167K
40%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $49K · Total expenses $167K
29%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 80%
Overhead ratio 13%
Fundraising cost ratio 5%
Accounting fee ratio 3%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$15K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$161K revenue · ⤓ 990 PDF
FY2023$120K revenue · ⤓ 990 PDF
FY2022$345K revenue · ⤓ 990 PDF
FY2021$371K revenue · ⤓ 990 PDF
FY2020$256K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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