Waterfall Arts

Analysis

Waterfall Arts is a registered charity in United States, based in Belfast, ME. It received its IRS tax-exemption ruling in January 2003, 23 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Waterfall Arts reported income of $611k and spending of $636k, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $690k to $611k (-11%), an average of -3.0% a year. The sharpest change came in the year to December 2023, when income dropped by 28%. Over the whole period it spent 77% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Waterfall Arts sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 69th percentile within ME. Charities of a similar size with the same main cause include House of Ukraine ($611k), South Chicago Dance Theatre ($611k) and Above and Beyond Corporation ($611k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 51% of the total. Other salaries and wages came to $301k. At year end it held assets of $1.9m against liabilities of $550k, net assets of $1.3m. It reported 9 employees.