WATERLOO ARTS

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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

2004

Principal Officer

AMY CALLAHAN

Phone

2166929500

Tax Period

2023-01-01 to 2023-12-31

WATERLOO ARTS, founded in 2004, is a small nonprofit in the Arts, Culture & Humanities sector that reported $120K in total revenue in fiscal year 2023. Revenue fell 65% from the prior year — a significant decline worth monitoring. Expenses of $205K exceeded revenue, resulting in a 70% operating deficit.

Mission

TO ENRICH THE NEIGHBORHOOD CULTURALLY BY CREATING A STIMULATING ARTS ENVIRONMENT THROUGH QUALITY EXHIBITS, PERFORMANCES, COMMUNITY EVENTS AND EDUCATIONAL ARTS PROGRAMING FOR ALL AGES.

Program Service Accomplishments

Program 1

Expenses: $145,109

WATERLOO ARTS FEST - WATERLOO ARTS FEST IS THE LARGEST EVENT IN THE COLLINWOOD NEIGHBORHOOD OF CLEVELAND AND ATTRACTS OVER 7000 VISITORS FROM ACROSS THE REGION. EACH YEAR FOR THE PAST 20 YEARS...

WATERLOO ARTS FEST - WATERLOO ARTS FEST IS THE LARGEST EVENT IN THE COLLINWOOD NEIGHBORHOOD OF CLEVELAND AND ATTRACTS OVER 7000 VISITORS FROM ACROSS THE REGION. EACH YEAR FOR THE PAST 20 YEARS, WATERLOO ARTS HAS WELCOMED ART VENDORS, FOOD VENDORS, COMMUNITY ORGANIZATIONS, MUSICIANS, STREET PERFORMERS, AND VISITORS TO ACTIVATE A HALF-MILE LONG ARTS & ENTERTAINMENT DISTRICT. THERE ARE 300+ DIVERSE ARTISTS AND MUSICIANS WHO PARTICIPATE IN THE EVENT EACH YEAR.

Program 2

GALLERY - THE GALLERY AT WATERLOO ARTS IS CURATED BY A VOLUNTEER COMMITTEE OF ARTISTS AND CURATORS WHO SELECT ARTISTS FROM AN OPEN CALL PROCESS AND PRESENT THEM IN 8-10 EXHIBITIONS EACH YEAR. THE...

GALLERY - THE GALLERY AT WATERLOO ARTS IS CURATED BY A VOLUNTEER COMMITTEE OF ARTISTS AND CURATORS WHO SELECT ARTISTS FROM AN OPEN CALL PROCESS AND PRESENT THEM IN 8-10 EXHIBITIONS EACH YEAR. THE GALLERY SCHEDULE INCLUDES AN ANNUAL DAYGLO EXHIBIT AND HOLIDAY CO-OP SALE.

Program 3

OTHER COMMUNITY & ARTISTS PROGRAMS - WATERLOO ARTS PROVIDES LOW COST ARTIST STUDIO SPACE AND OPEN STUDIO EVENTS FOR THE PUBLIC AS WELL AS GALLERY ARTIST TALKS AND WORKSHOPS. THEY ALSO PROVIDE SPACE FOR OTHER ARTS NONPROFITS AND INDEPENDENT ARTISTS AND MUSICIANS TO PRESENT WORK TO THE PUBLIC.

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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 (2023)

Revenue Breakdown

Contributions & Grants $68,294

Program Service Revenue $52,018

Investment Income $108

Other Revenue $0

TOTAL REVENUE $120,420

Expense Breakdown

Grants Paid $0

Salaries & Benefits $91,630

Fundraising Expenses $9,933

Program Expenses $145,109

Other Expenses $113,091

TOTAL EXPENSES $204,721

Year-over-Year Comparison

	2023	2022	Change
Revenue	$120,420	$344,522	-0.7%
Expenses	$204,721	$226,896	-0.1%
Net Income	$-84,301	$117,626	-1.7%

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

N/A

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

$43,333

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AMY CALLAHAN	EXECUTIVE DI	40.00	Officer	$43,333	$0	$43,333
LEANNE ANDRYSCO	SECRETARY	6.00	Officer Director	$0	$0	$0
ADAM BRADFORD	BOARD MEMBER	3.00	Director	$0	$0	$0
JONATHAN COOPER	VICE PRESIDE	6.00	Officer Director	$0	$0	$0
LANE COOPER	BOARD MEMBER	3.00	Director	$0	$0	$0
JOYCE MARROW JONES	PRESIDENT	6.00	Officer Director	$0	$0	$0
NANCY KENNEDY	BOARD MEMBER	3.00	Director	$0	$0	$0
MICHAEL MCBRIDE	BOARD MEMBER	3.00	Director	$0	$0	$0
SUSAN MARIE SWEENEY	BOARD MEMBER	3.00	Director	$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	No data	No data	No data	No data
2023	$120,420	$204,721	$927,099	$-84,301
2022	$344,522	$226,896	$995,518	$117,626
2021	$370,721	$219,265	$648,652	$151,456
2020	$256,220	$166,947	$489,044	$89,273
2019	$190,480	$162,441	$367,722	$28,039
2018	$192,487	$164,517	$356,446	$27,970