Waterville Creates

Analysis

Waterville Creates is a registered charity in United States, based in Waterville, ME. It received its IRS tax-exemption ruling in March 1997, 29 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Waterville Creates reported income of $4.0m and spending of $4.4m, spending 110% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $5.4m to $4.0m (-25%), an average of -5.7% a year. The sharpest change came in the year to December 2021, when income rose by 99%. Over the whole period it spent 85% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Waterville Creates sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within ME. Charities of a similar size with the same main cause include Kern Dance Alliance ($4.0m), Anchorage Concert Association Inc ($4.0m) and Cultural Arts Alliance of Walton County Inc ($4.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 57% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $271k (6.1% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $5.9m against liabilities of $2.0m, net assets of $4.0m. It reported 56 employees.