Waterlegacy EIN 26-3999186 Form 990 (PDF) Claim this org

Waterlegacy FY2024 filing

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Safeguarding water resources and the communities that depend on them. For fiscal year 2024 it reported $1.1M in revenue, $205K in expenses, and $990K in net assets.Pt I

Founded
2009
Type
Public charity (501(c)(3)) · Environment
Location
Duluth, MN
Website
www.waterlegacy.org
Filings
5 on file (2020–2024)
Revenue
$1.1MFY2024
Expenses
$205K
Net assets
$990K
People
6
Filings
5
Updates
0
More identity details & actions ⌄
EIN  26-3999186 Public charity (501(c)(3)) Duluth, MN Founded 2009
Form 990 (PDF)
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Size
$100K–1M
What they do
Safeguarding water resources and the communities that depend on them.
Leadership
Ricky Defoe · Board Member
Money in and out
$1.1M revenue, $205K expenses
Bottom line
92% program efficiency
Where the money goes · FY2024
Total revenue
$1.1M
Pt VIII · Ln 12
Total expenses
$205K
Pt IX · Ln 25
Net assets
$990K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $874K
Where spending went · Part IX cols B–D
Program services $0.92 Management & general $0.04 Fundraising $0.04
Program efficiency
92%
of spending reaches programs
Operating runway
58.6mo
months of highly liquid reserves at operating expense rate
Surplus margin
+81%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$1.1M
FY2024▲ +483%
Expenses
$205K
FY2024
Total assets
$998K
FY2024
Total liabilities
$9K
FY2024
Total revenue
$1.1M
Pt VIII · Ln 12
Total expenses
$205K
Pt IX · Ln 25
Net assets
$990K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$874K
Total assetsPt X · Ln 16$998K
Program-expense ratioPt IX · col B92%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 46

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWaterlegacy
EINHdr · item D26-3999186
Principal addressHdr · item CDuluth, MN
WebsiteHdr · item Jwww.waterlegacy.org
Year of formationHdr · item L2009
State of legal domicileHdr · item MMN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEnvironment (C05)
Ruling yearIRS BMFAug 2009

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1b6
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

Paula Maccabee’s $118K as Executive Director is at the 89th percentile of top reported officer pay among 1981 $100K–1M environment 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.

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Mission & Programs · Part III

Where the work happens

2 program services account for $189K of program spending, described in the organization's own filed words · FY2023.
01

Advocacy-Legal Services for Water Advocacy. Protect water resources, aquatic life, wild rice and human health from mining related pollution. Advocate for rigorous environmental review and permitting to protect public health, safety, and the environment.

$115Kprogram expense
02

Public Outreach & Support. Awareness and advocacy via organizing, technical research, exhibits, flyers, petitions, presentations, panels, phoning, convening, workshops, website, provide media, email, printing/copies and filings. Results: Engaged citizens in clean water protection

$74Kprogram expense

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Statement of Revenue

Part VIII
Other revenue$875K · 81%
Contributions & grants$203K · 19%
Other revenue81%$875K
Contributions & grants19%$203K
Investment income$1K
Total revenueLn 12$1.1M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.92 Management & general $0.04 Fundraising $0.04
Program services92%$189K
Management & general4%$9K
Fundraising4%$8K
Total functional expensesLn 25$205K

Balance Sheet

Part X · end of year
CashLn 1$998K
Total assetsLn 16$998K
Total liabilitiesLn 26$9K
Total net assetsLn 32$990K
Months of cash on handcomputed58.3

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $998K · Operating expenses (Pt IX) $205K · Less non-cash grants $956 · Cash operating expenses/yr $205K
58.6 months
Where the money goes
Program services
Program services $189K · Total expenses $205K
92%
Management & General
Management & general $9K · Total expenses $205K
4%
Fundraising
Fundraising $8K · Total expenses $205K
4%
Cost to raise $1
Fundraising expense $8K · Solicited contributions $203K
$0.04 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $203K · Total revenue $1.1M
19%
Government reliance
Government grants $0 · Total revenue $1.1M
0%
Earned-income share
Program service revenue $0 · Total revenue $1.1M
0%
Investment reliance
Investment income $1K · Total revenue $1.1M
+0.1%
Program self-sufficiency
Program service revenue $0 · Total expenses $205K
0%
Growth & trend
Revenue growth (YoY)
This year $1.1M · Prior year $185K
+483%
Revenue CAGR
FY2019 $165K · FY2023 $1.1M
+60%
Net-asset trend (YoY)
End of year $990K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.1M · Expenses $205K
+81%
Liabilities-to-Assets
Total liabilities — · Total assets $998K
Net-asset ratio
Net assets $990K · Total assets $998K
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $998K
0%
People & payroll
Highest Reported Total Compensation
Individual Ricky Defoe · Reported title Board Member · Highest reported compensation $0 · Total expenses $205K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $205K
0%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 92%
Overhead ratio 4%
Fundraising cost ratio 4%
Revenue growth 483%
Investment management fee ratio 0%
Legal fee ratio 51%
Accounting fee ratio 3%
Fundraising fee ratio 0%

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
See all 8 funders →

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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$1.1M revenue · viewing · ⤓ 990 PDF
FY2023$185K revenue · ⤓ 990 PDF
FY2022$196K revenue · ⤓ 990 PDF
FY2021$145K revenue · ⤓ 990 PDF
FY2020$165K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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