WATERWORKS VISUAL ARTS CENTER INC

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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

1963

Legal Domicile

Principal Officer

ANNE SCOTT CLEMENT

Phone

7046361882

Tax Period

2024-07-01 to 2025-06-30

WATERWORKS VISUAL ARTS CENTER INC, founded in 1963, is a small nonprofit in the Arts, Culture & Humanities sector that reported $548K in total revenue in fiscal year 2024. Revenue surged 57% from the prior year, signaling strong growth momentum. The organization ran a surplus of $120K, a strong 22% operating margin.

Mission

TO PROVIDE DIVERSE OPPORTUNITIES IN THE ARTS FOR ALL PEOPLE THROUGH EXHIBITIONS, EDUCATION AND OUTREACH PROGRAMS.

Program Service Accomplishments

Program 1

Expenses: $177,457

ART EXHIBITIONS WERE DISPLAYED IN FIVE INTERIOR EXHIBITION SPACES AND THREE EXTERIOR INSTALLATION SPACES/GARDENS FOR THE PUBLIC FREE OF CHARGE.

Program 2

Expenses: $177,457 Revenue: $34,847

EDUCATIONAL PROGRAMS PROVIDED TO THE PUBLIC TO EDUCATE THE COMMUNITY OF VARIOUS FORMS OF ART.

Program 3

Revenue: $9,073

THE MUSEUM STORE PROVIDED ART WORK FROM LOCAL AND REGIONAL ARTISTS AND CRAFTSMEN.

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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 $483,822

Program Service Revenue $43,920

Investment Income $19,776

Other Revenue $982

TOTAL REVENUE $548,500

Expense Breakdown

Grants Paid $0

Salaries & Benefits $219,304

Fundraising Expenses $0

Program Expenses $354,914

Other Expenses $209,252

TOTAL EXPENSES $428,556

Year-over-Year Comparison

	2024	2023	Change
Revenue	$548,500	$348,857	+0.6%
Expenses	$428,556	$313,952	+0.4%
Net Income	$119,944	$34,905	+2.4%

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

$89,362

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHLEEN BERGERON	PRESIDENT	0.00	Officer Director	$0	$0	$0
KAREN EWEN	FIRST VICE P	0.00	Officer Director	$0	$0	$0
CHAD VRIESEMA	VP OF FACILI	0.00	Officer Director	$0	$0	$0
SARAH WHITE-HARVEY	VP OF FINANC	0.00	Officer Director	$0	$0	$0
CAROLINE WEIKER	SECRETARY	0.00	Officer Director	$0	$0	$0
ED HULL	PAST PRESIDE	0.00	Officer Director	$0	$0	$0
LINDA ALEXANDER	DIRECTOR	0.00	Director	$0	$0	$0
STATE ALEXANDER	DIRECTOR	0.00	Director	$0	$0	$0
ELIA GREGOREK	DIRECTOR	0.00	Director	$0	$0	$0
DEBBIE HOFFMAN	DIRECTOR	0.00	Director	$0	$0	$0
KATIE SETZER LIPSCOMB	DIRECTOR	0.00	Director	$0	$0	$0
KAREN LUNDGREN	DIRECTOR	0.00	Director	$0	$0	$0
VINCIA MILLER	DIRECTOR	0.00	Director	$0	$0	$0
TONYAN SCHOEFIELD	DIRECTOR	0.00	Director	$0	$0	$0
MEGAN SMITH	DIRECTOR	0.00	Director	$0	$0	$0
PAMELA SOFELY	DIRECTOR	0.00	Director	$0	$0	$0
REBECCA J WELLS	DIRECTOR	0.00	Director	$0	$0	$0
ANNE SCOTT CLEMENT	EXECUTIVE DI	40.00	Officer	$89,362	$0	$89,362

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
2025	$548,500	$428,556	$1,736,834	$119,944
2024	$348,857	$313,952	$1,563,170	$34,905
2023	$283,273	$285,732	$1,494,233	$-2,459
2022	$226,079	$318,595	$1,478,290	$-92,516
2021	$402,144	$301,222	$1,615,605	$100,922
2020	$221,343	$273,132	$1,536,700	$-51,789
2019	$229,543	$304,445	$1,563,372	$-74,902
2018	$273,494	$325,215	$1,638,457	$-51,721