Freshwaters Illustrated
Freshwaters Illustrated consistently operates at a deficit with minimal assets, raising financial sustainability concerns.
EIN: 201691602 · Corvallis, OR · NTEE: C32 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $316K |
| Total Expenses | $320K |
| Program Spending | 80% |
| Net Assets | $-24,710 |
| Transparency Score | 55/100 |
Is Freshwaters Illustrated Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Freshwaters Illustrated directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Freshwaters Illustrated
Freshwaters Illustrated (EIN: 201691602) is a nonprofit organization based in Corvallis, OR, classified under NTEE code C32. The organization reported total revenue of $316K and total assets of $13K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Freshwaters Illustrated's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Freshwaters Illustrated is a small nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $318K |
| Total Expenses | $320K |
| Surplus / Deficit | $-1,825 |
| Total Assets | $6K |
| Total Liabilities | $31K |
| Net Assets | $-24,710 |
| Operating Margin | -0.6% |
| Debt-to-Asset Ratio | 485.7% |
| Months of Reserves | 0.2 months |
Financial Health Grade: D
In 2023, Freshwaters Illustrated reported a deficit of $2K with expenses exceeding revenue, holds 0.2 months of operating reserves (limited), has a debt-to-asset ratio of 485.7% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Freshwaters Illustrated's revenue has grown at a compound annual growth rate (CAGR) of 2.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -3.6% | -0.2% | -22.7% |
| 2022 | +29.4% | +11.1% | — |
| 2021 | +7.0% | +10.4% | -231.5% |
| 2020 | +6.8% | +7.9% | -94.9% |
| 2019 | +2.4% | -12.5% | +76.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Freshwaters Illustrated with a Mission Score of 55 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Freshwaters Illustrated allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $2K, with expenses exceeding revenue.
- Debt-to-asset ratio: 485.7%.
Executive Compensation Analysis
No officer compensation has been reported across all 13 filings, suggesting a volunteer-led structure or compensation below reporting thresholds, which is positive for donor perception regarding executive pay.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Freshwaters Illustrated's IRS 990 filings:
- Consistent operational deficits (7 out of 10 periods, including 202312)
- Extremely low and sometimes negative asset base (e.g., $-1,193 in 202112)
- Fluctuating and sometimes high liabilities relative to assets (e.g., $57,133 in 202012 vs. $907 assets)
- Lack of financial reserves for unexpected events or future growth
Strengths
The following positive indicators were identified for Freshwaters Illustrated:
- No reported officer compensation, indicating a lean or volunteer-driven leadership structure
- Consistent revenue generation above $200,000 for most years, showing donor support
- Clear mission focus (NTEE C32 - Environmental Education)
Frequently Asked Questions about Freshwaters Illustrated
Is Freshwaters Illustrated a legitimate charity?
Freshwaters Illustrated (EIN: 201691602) is a registered tax-exempt nonprofit based in Oregon. Our AI analysis gives it a Mission Score of 55/100. It has 13 years of IRS 990 filings on record. Total revenue: $316K. 4 red flags identified. 3 strengths noted. Financial health grade: D.
How does Freshwaters Illustrated spend its money?
Freshwaters Illustrated directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Freshwaters Illustrated tax-deductible?
Freshwaters Illustrated is registered as a tax-exempt nonprofit (EIN: 201691602). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Freshwaters Illustrated's spending goes to programs?
Freshwaters Illustrated directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Freshwaters Illustrated compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Freshwaters Illustrated is near average for NTEE category C32 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Freshwaters Illustrated located?
Freshwaters Illustrated is headquartered in Corvallis, Oregon and files with the IRS under EIN 201691602. It is classified under NTEE code C32.
How many years of IRS 990 filings does Freshwaters Illustrated have?
Freshwaters Illustrated has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $316K in total revenue.
How does Freshwaters Illustrated plan to address its recurring operational deficits?
The organization has reported expenses exceeding revenue in 7 of the last 10 periods, including the most recent 202312 filing. A clear strategy for achieving financial equilibrium is crucial.
What is the breakdown of program vs. administrative expenses?
Without detailed expense breakdowns in the provided data, it's difficult to ascertain the exact efficiency of program spending. The current data only provides total expenses.
Why are the organization's assets consistently so low, and what is the plan to build reserves?
Assets have remained very low, often in the single-digit thousands, and were even negative in 202112. Building a healthy reserve is essential for long-term stability and resilience.
What caused the significant increase in liabilities in 202012 to $57,133?
Liabilities jumped significantly in 202012, which warrants investigation to understand the nature of these obligations and their impact on the organization's financial health.
Filing History
IRS 990 filing history for Freshwaters Illustrated showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Freshwaters Illustrated's revenue has grown by 29.8%, moving from $245K to $318K. Total assets decreased by 20.1% over the same period, from $8K to $6K. Total functional expenses rose by 29.1%, from $248K to $320K. In its most recent filing year (2023), Freshwaters Illustrated reported a deficit of $2K, with expenses exceeding revenue. The organization holds $31K in liabilities against $6K in assets (debt-to-asset ratio: 485.7%), resulting in net assets of $-24,710.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $318K | $320K | $6K | $31K | — | — |
| 2022 | $330K | $320K | $8K | $31K | — | — |
| 2021 | $255K | $288K | $-1,193 | $31K | — | View 990 |
| 2020 | $238K | $261K | $907 | $57K | — | View 990 |
| 2019 | $223K | $242K | $18K | $51K | — | View 990 |
| 2018 | $218K | $276K | $10K | $25K | — | View 990 |
| 2017 | $367K | $312K | $48K | $4K | — | View 990 |
| 2016 | $209K | $218K | $10K | $20K | — | View 990 |
| 2015 | $226K | $236K | $5K | $6K | — | View 990 |
| 2014 | $189K | $176K | $15K | $6K | — | View 990 |
| 2013 | $146K | $145K | $4K | $9K | — | View 990 |
| 2012 | $182K | $183K | $10K | $15K | — | View 990 |
| 2011 | $245K | $248K | $8K | $7K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $318K, expenses of $320K, and assets of $6K (revenue -3.6% year-over-year).
- 2022: Revenue of $330K, expenses of $320K, and assets of $8K (revenue +29.4% year-over-year).
- 2021: Revenue of $255K, expenses of $288K, and assets of $-1,193 (revenue +7.0% year-over-year).
- 2020: Revenue of $238K, expenses of $261K, and assets of $907 (revenue +6.8% year-over-year).
- 2019: Revenue of $223K, expenses of $242K, and assets of $18K (revenue +2.4% year-over-year).
- 2018: Revenue of $218K, expenses of $276K, and assets of $10K (revenue -40.6% year-over-year).
- 2017: Revenue of $367K, expenses of $312K, and assets of $48K (revenue +75.9% year-over-year).
- 2016: Revenue of $209K, expenses of $218K, and assets of $10K (revenue -7.5% year-over-year).
- 2015: Revenue of $226K, expenses of $236K, and assets of $5K (revenue +19.2% year-over-year).
- 2014: Revenue of $189K, expenses of $176K, and assets of $15K (revenue +30.0% year-over-year).
- 2013: Revenue of $146K, expenses of $145K, and assets of $4K (revenue -20.1% year-over-year).
- 2012: Revenue of $182K, expenses of $183K, and assets of $10K (revenue -25.6% year-over-year).
- 2011: Revenue of $245K, expenses of $248K, and assets of $8K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Freshwaters Illustrated:
Data Sources and Methodology
This transparency report for Freshwaters Illustrated is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.