WATERFALL ARTS (EIN 010528831) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2000

Legal Domicile

Phone

2073382222

Tax Period

2024-01-01 to 2024-12-31

WATERFALL ARTS, founded in 2000, is a small nonprofit in the Arts, Culture & Humanities sector that reported $585K in total revenue in fiscal year 2024. Expenses of $693K exceeded revenue, resulting in a 19% operating deficit.

Mission

PROVIDING ACCESS TO THE ARTS, DESIGN AND CREATIVE COLLABORATION FOR ALL AGES AND ABILITIES THROUGHOUT THE BELFAST AND MONTVILLECOMMUNITIES IN WALDO COUNTY, MAINE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $284,160

Program Service Revenue $287,791

Investment Income $12,708

Other Revenue $0

TOTAL REVENUE $584,659

Expense Breakdown

Grants Paid $0

Salaries & Benefits $368,050

Fundraising Expenses $105,642

Program Expenses $364,101

Other Expenses $324,990

TOTAL EXPENSES $693,040

Year-over-Year Comparison

	2024	2023	Change
Revenue	$584,659	N/A	N/A
Expenses	$693,040	$29,328	+22.6%
Net Income	$-108,381	$-29,328	+2.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GIANNE CONARD	MEMBER	2.00	Director	$0	$0	$0
SCOTT KELLEY	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
LISA COHN	MEMBER	2.00	Director	$0	$0	$0
DAVID COHN	TREASURER	2.00	Officer Director	$0	$0	$0
JODY HENDERSON	SECRETARY	2.00	Officer Director	$0	$0	$0
JOANNA OWEN	MEMBER	2.00	Director	$0	$0	$0
MIKE BIRD	MEMBER	2.00	Director	$0	$0	$0
ANDREW HERMANN	MEMBER	2.00	Director	$0	$0	$0
DAVID HUPPER	MEMBER	2.00	Director	$0	$0	$0
ELI KAO	MEMBER	2.00	Director	$0	$0	$0
DAVID LEACH	MEMBER	2.00	Director	$0	$0	$0
KEN SCHWEIKERT	MEMBER	2.00	Director	$0	$0	$0
JOHN STEED	PRESIDENT	5.00	Officer Director	$0	$0	$0
TYRONE TOWNSEND	MEMBER	2.00	Officer	$0	$0	$0
KIM FLEMING	EXECUTIVE DIRECTOR	50.00	Key Emp	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$584,659	$693,040	$1,465,367	$-108,381
2023	$611,289	$635,892	$1,863,067	$-24,603
2022	$853,420	$585,341	$1,935,703	$268,079
2021	$827,974	$564,322	$1,786,226	$263,652
2020	$663,956	$502,907	$1,148,541	$161,049
2019	$690,156	$510,142	$789,165	$180,014
2018	$589,517	$474,333	$720,971	$115,184

WATERFALL ARTS