Exhibits art, educates the public, and supports artists through programs and community events.
For fiscal year 2025 it reported $235K in revenue, $237K in expenses, and $187K in net assets.Pt I
Where the money goes · FY2025
Total revenue
$235K
Pt VIII · Ln 12
Total expenses
$237K
Pt IX · Ln 25
Net assets
$187K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$2K
Where spending went · Part IX cols B–D
64%
26%
Program services $0.64 Management & general $0.26 Fundraising $0.10
Program efficiency
64%
of spending reaches programs▼ -5% vs prior filing year
Operating runway
26.4mo
months of highly liquid reserves at operating expense rate▲ +156% vs prior filing year
Surplus margin
-1%
revenue over expenses, this year▲ +97% vs prior filing year
Summary of the Filing
Part I · fiscal year 2025 · Form 990
Revenue
$235K
FY2025▼ -42%
$738K$369K$0
FY2020FY2025
Expenses
$237K
FY2025▼ -53%
$605K$303K$0
FY2020FY2025
Total assets
$581K
FY2025▲ +3%
$581K$291K$0
FY2020FY2025
Total liabilities
$394K
FY2025▲ +4%
$394K$197K$0
FY2020FY2025
Total revenue
$235K
Pt VIII · Ln 12
Total expenses
$237K
Pt IX · Ln 25
Net assets
$187K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$2K
Total assetsPt X · Ln 16$581K
Program-expense ratioPt IX · col B64%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 46
Mission & Programs · Part III
Where the work happens
3 program services account for $151K of program spending, described in the organization's own filed words · FY2024.
01
We inititate and support artist driven creative placemaking projects and exhibiting work that stretches beyond our gallery walls through interactive projects that proactively help our neighbors. We work with partner organizations to tackle tough problems through asset based development and center artist-driven solutions.
$91Kprogram expense
02
Welcome Project
The Welcome Project produces limited edition art pieces in collaboration with renowened artists like Jeffrey Giblson, Vanessa German, and Shahzia Sikander, created by refugee and immigrant artists from Nepal, Togo, and other countries. All profits feed back into growing the Welcome Project.
$50Kprogram expense
03
Studio and Woodshop Space Rental
Wave Pool has always been a space not just for art viewing, but for making, artistic development, and community building. Wave Pools wood shop has recently been upgraded and now has regular community hours where anyone is welcome to learn how to use a tool, take a class, or build a personal project.
Carrington Broeman’s $72K as Interim Executive Director
is at the 66th percentile of top reported officer pay among 2213 $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
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.
Individual Carrington Broeman · Reported title Interim Executive Director · Highest reported compensation $0 · Total expenses $237K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $90K · Total expenses $237K
38%
Peer comparison
Same NTEE category, revenue band, and state where available. Descriptive — not a grade.
Metric
This org
Peer median
Percentile
Program ratio
64%
—
—
Overhead ratio
26%
—
—
Fundraising cost ratio
12%
—
—
Revenue growth
-42%
—
—
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.
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Sources
Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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