Wave Pool Corp EIN 47-5054823 Form 990 (PDF) Claim this org

Wave Pool Corp FY2024 filing

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Exhibits art, educates the public, and supports artists through programs and community events. For fiscal year 2024 it reported $403K in revenue, $505K in expenses, and $184K in net assets.Pt I

Type
Public charity (501(c)(3)) · Arts & Culture
Location
Cincinnati, OH
Website
www.wavepoolgallery.org
Filings
6 on file (2020–2024)
Revenue
$403KFY2024
Expenses
$505K
Net assets
$184K
People
7
Filings
6
Updates
0
More identity details & actions ⌄
EIN  47-5054823 Public charity (501(c)(3)) Cincinnati, OH
Form 990 (PDF)
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Size
$100K–1M
What they do
Exhibits art, educates the public, and supports artists through programs and community events.
Leadership
Carrington Broeman · Interim Executive Director · $72K
Money in and out
$403K revenue, $505K expenses
Bottom line
67% program efficiency
Where the money goes · FY2024
Total revenue
$403K
Pt VIII · Ln 12
Total expenses
$505K
Pt IX · Ln 25
Net assets
$184K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$102K
Where spending went · Part IX cols B–D
Program services $0.67 Management & general $0.27 Fundraising $0.06
Program efficiency
67%
of spending reaches programs
Operating runway
10.3mo
months of highly liquid reserves at operating expense rate
Surplus margin
-25%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$403K
FY2024▼ -13%
Expenses
$505K
FY2024▼ -17%
Total assets
$562K
FY2024▲ +78%
Total liabilities
$378K
FY2024▲ ×19
Total revenue
$403K
Pt VIII · Ln 12
Total expenses
$505K
Pt IX · Ln 25
Net assets
$184K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$102K
Total assetsPt X · Ln 16$562K
Program-expense ratioPt IX · col B67%
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 CWave Pool Corp
EINHdr · item D47-5054823
Principal addressHdr · item CCincinnati, OH
WebsiteHdr · item Jwww.wavepoolgallery.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MOH
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A40)
Ruling yearIRS BMFSep 2015

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 13Yes
Document retention policyPt VI · Ln 14Yes
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
Interim Executive Director
$71,738Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
Vice Chair and Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
Carrington Broeman$71,738
Calcagno Cullen$63,500$63,500$50,942$50,000

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 $338K of program spending, described in the organization's own filed words · FY2023.
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.

$182Kprogram expense
02

Welcome Project

The Welcome Project is a social enterprise that combines a small market, food pantry and teaching kitchen with a boutique and makers space to train our newest neighbors in store management and art skills while bringing new life to the business district of Camp Washington, Cincinnati.

$149Kprogram 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. A large part of our space is dedicated for below- market-rate artist studio rentals as well as a community woodshop and ceramics studio.

$7Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$294K · 73%
Program service revenue$103K · 26%
Other revenue$7K · 2%
Contributions & grants73%$294K
Program service revenue26%$103K
Other revenue2%$7K
— government grantsLn 1e$132K
Total revenueLn 12$403K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.67 Management & general $0.27 Fundraising $0.06
Program services67%$338K
Management & general27%$135K
Fundraising6%$33K
Total functional expensesLn 25$505K

Balance Sheet

Part X · end of year
CashLn 1$388K
Total assetsLn 16$562K
Total liabilitiesLn 26$378K
Total net assetsLn 32$184K
Months of cash on handcomputed9.2

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $435K · Operating expenses/yr $505K
10.3 months
Where the money goes
Program services
Program services $338K · Total expenses $505K
67%
Management & General
Management & general $135K · Total expenses $505K
27%
Fundraising
Fundraising $33K · Total expenses $505K
6%
Cost to raise $1
Fundraising expense (3-yr avg) $22K · Solicited contributions (3-yr avg) $200K
$0.11 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $294K · Total revenue $403K
73%
Government reliance
Government grants $132K · Total revenue $403K
33%
Earned-income share
Program service revenue $103K · Total revenue $403K
26%
Investment reliance
Investment income $0 · Total revenue $403K
0%
Program self-sufficiency
Program service revenue $103K · Total expenses $505K
20%
Growth & trend
Revenue growth (YoY)
This year $403K · Prior year $464K
-13%
Revenue CAGR
FY2019 $414K · FY2023 $403K
-0.6%
Net-asset trend (YoY)
End of year $184K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $403K · Expenses $505K
-25%
Liabilities-to-Assets
Total liabilities — · Total assets $562K
Net-asset ratio
Net assets $184K · Total assets $562K
33%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $47K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $562K
8%
People & payroll
Highest Reported Total Compensation
Individual Carrington Broeman · Reported title Interim Executive Director · Highest reported compensation $72K · Total expenses $505K
14%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $233K · Total expenses $505K
46%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 67%
Overhead ratio 27%
Fundraising cost ratio 11%
Revenue growth -13%
Accounting fee ratio 2%

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 · received and paid
Grants received · FY2024
See all 8 funders →
Grants paid · 2 grants · $1K · 2019–2019
Unitemized GrantFY2019$500
Unitemized GrantFY2019$500

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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
FY2025 (Latest)$235K revenue · ⤓ 990 PDF
FY2024$403K revenue · viewing · ⤓ 990 PDF
FY2023$464K revenue · ⤓ 990 PDF
FY2022$524K revenue · ⤓ 990 PDF
FY2021$738K revenue · ⤓ 990 PDF
FY2020$414K 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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