Waterloo Arts

Analysis

Waterloo Arts is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in May 2004, 22 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, Waterloo Arts reported income of $120k and spending of $205k, spending 170% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $190k to $120k (-37%), an average of -11% a year. The sharpest change came in the year to December 2023, when income dropped by 65%. Over the whole period it spent 76% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Waterloo Arts sits at the 47th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 42nd percentile within OH. Charities of a similar size with the same main cause include Cub Creek Foundation Inc ($120k), Cultural Heritage Research Inc ($120k) and My World Discovery Museum ($120k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 57% and program service revenue 43% of the total. Compensation of current officers, directors and key employees was $43k (21% of expenses). Other salaries and wages came to $39k. At year end it held assets of $927k against liabilities of $312k, net assets of $615k. It reported 8 employees.