Waterloo Arts

Nonprofit profile at a glance

EIN
200639943
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-EZ 2014
Location
Cleveland, OH, USA
Phone
2166929500
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$161,096
Expenses
$217,851
Assets
$865,235
Liabilities
$307,366

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • JOYCE MARROW JONES (PRESIDENT)

Highest reported compensation

  • AMY CALLAHAN (EXECUTIVE DI): $43,333 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To enrich the neighborhood culturally by creating a stimulating arts environment through quality exhibits, performances, community events and educational arts programing for all ages.

What it reported doing in 2024

Waterloo arts fest - waterloo arts fest is the largest event in the collinwood neighborhood of cleveland and attracts over 7000 visitors from across the region. Each year for the past 20 years, waterloo arts has welcomed art vendors, food vendors, community organizations, musicians, street performers, and visitors to activate a half-mile long arts & entertainment district. There are 300+ diverse artists and musicians who participate in the event each year.

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 100% 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

STRONG - 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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 74.8%; rating input score 75
  • Fundraising efficiency: $10.05 raised per $1 spent on fundraising; rating input score 39; 39th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -35.2%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 3.97; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 19.9%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: 4.4% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: 0.6% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: 9.5% per year; rating input score 100; 64th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 74.8% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $163K in reported program spending
  • Leadership: top reported pay $43K · 9 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 12 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 39/100.
  • High — Sustainability: Operating margin scored 8/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.