WATERLEGACY

EIN: 263999186 501(c)(3) Environment

Duluth, MN

Total Revenue
$1,079,296
Total Expenses
$205,497
Total Assets
$998,485
Net Assets
$989,597
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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
2009
Legal Domicile
MN
Principal Officer
Lise Abazs
Phone
2182268361
Tax Period
2023-10-01 to 2024-09-30

WATERLEGACY, founded in 2009, is a community nonprofit in the Environment sector that reported $1.1M in total revenue in fiscal year 2023. Revenue surged 483% from the prior year, signaling strong growth momentum. The organization ran a surplus of $874K, a strong 81% operating margin.

Mission

Protect water resources & the communities that rely on them

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $203,021
Program Service Revenue $0
Investment Income $1,275
Other Revenue $875,000
TOTAL REVENUE $1,079,296

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $7,753
Program Expenses $188,849
Other Expenses $205,497
TOTAL EXPENSES $205,497

Year-over-Year Comparison

2023 2022 Change
Revenue $1,079,296 $185,256 +4.8%
Expenses $205,497 $226,329 -0.1%
Net Income $873,799 $-41,073 -22.3%
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

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Governance

Voting Members
6
Independent Members
6
Employees
N/A
Volunteers
200

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
3
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Ricky DeFoe Board Member 2
Director
$0 $0 $0
Don Arnosti Board Member 2
Director
$0 $0 $0
Karla Anderson Board Member 2
Director
$0 $0 $0
Janet Keough President 4
Officer
$0 $0 $0
Matt Tyler Vice President 2
Officer
$0 $0 $0
Lise Abazs Treasurer 4
Officer
$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 $1,079,296 $205,497 $998,485 $873,799
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