Watercolor Society of Indiana Inc

Nonprofit profile at a glance

EIN
351598145
IRS 990 coverage
2018–2025
Forms available
Form 990 2025
Location
Indianapolis, IN, USA
Phone
3175002275
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Visual Arts Organizations

Official website

Reported finances

Revenue
$86,971
Expenses
$79,173
Assets
$770,602
Liabilities
$1,833

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

22 people listed

Executive titles in this filing

  • TIM LEWIS (PRESIDENT)

People named in this filing

  • TERESA ALTEMEYER (CHAIRPERSON)
  • DEBI BLACK (CHAIRPERSON)
  • KAREN FEHR (CHAIRPERSON)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The watercolor society of Indiana seeks to educate Indiana residents about the discipline of the watercolor medium through exhibits, juried competitions, classes, discussions, demonstrations, outreach programs and community service.

What it reported doing in 2025

2025 program service accomplishments top 3: james c. Lentz scholarship to a high school student for college. Approximately 40 hours by wsi member volunteers to evaluate 25 applications. Juried exhibit at newfields/ima representing 45 member artists with cash prizes for the top 11 member artists. Virtual meetings, quarterly newsletters, mailings and website to educate, connect, and serve 235 wsi members across the state of Indiana

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 96% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 83
  • Accountability: 70
  • Sustainability: 58
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.2%; rating input score 95
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 9%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 9.73; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 3.5% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: -5.6% per year; rating input score 0; 39th percentile among comparable filings
  • Asset growth: 5.5% per year; rating input score 100; 64th percentile among comparable filings

Details

  • Where the money goes: 95.2% of revenue deployed · 100% of spending went to programs
  • Governance: 22 of 22 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $79K in reported program spending
  • Leadership: top reported pay $0 · 22 people listed
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2018 to 2025
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.