Great Waters Music Festival Inc
Great Waters Music Festival Inc. faces recent operating deficits despite substantial revenue, with increasing liabilities in 2023.
EIN: 20488006 · Wolfeboro, NH · NTEE: A68 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $883K |
| Total Expenses | $867K |
| Program Spending | 75% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $501K |
| Transparency Score | 75/100 |
Is Great Waters Music Festival Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Great Waters Music Festival Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Great Waters Music Festival Inc
Great Waters Music Festival Inc (EIN: 20488006) is a nonprofit organization based in Wolfeboro, NH, classified under NTEE code A68. The organization reported total revenue of $883K and total assets of $438K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Great Waters Music Festival Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Great Waters Music Festival Inc is a small nonprofit that has been operating for 29 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 9.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $855K |
| Total Expenses | $867K |
| Surplus / Deficit | $-11,911 |
| Total Assets | $663K |
| Total Liabilities | $162K |
| Net Assets | $501K |
| Operating Margin | -1.4% |
| Debt-to-Asset Ratio | 24.4% |
| Months of Reserves | 9.2 months |
Financial Health Grade: B
In 2023, Great Waters Music Festival Inc reported a deficit of $12K with expenses exceeding revenue, holds 9.2 months of operating reserves (strong position), has a debt-to-asset ratio of 24.4% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Great Waters Music Festival Inc's revenue has grown at a compound annual growth rate (CAGR) of 9.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +32.6% | +2.3% | +25.6% |
| 2022 | -28.8% | +14.2% | -31.3% |
| 2021 | +37.5% | +101.3% | +70.6% |
| 2019 | +202.8% | +28.5% | +187.5% |
| 2018 | +4.2% | +39.3% | -30.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1997 |
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 Great Waters Music Festival Inc with a Mission Score of 75 out of 100 (Good). 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: 75%
- fundraising: 10%
According to IRS 990 filings, Great Waters Music Festival Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 $12K, with expenses exceeding revenue.
- Debt-to-asset ratio: 24.4%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that no salaries were paid to officers, which is highly commendable for an organization of this size with recent revenues nearing $1 million.
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 Great Waters Music Festival Inc's IRS 990 filings:
- Operating deficits in 2022 and 2023, with expenses exceeding revenue by $202,513 and $11,911 respectively.
- Significant increase in liabilities from $15,000 in 2022 to $162,023 in 2023, which could indicate financial strain or new debt.
- Fluctuating asset base, decreasing from $768,162 in 2021 to $662,678 in 2023, alongside increasing liabilities.
Strengths
The following positive indicators were identified for Great Waters Music Festival Inc:
- Consistent reporting of 0% officer compensation across all filings, indicating a strong commitment to directing funds to the mission.
- Demonstrated ability to generate substantial revenue, with a peak of $905,916 in 2021 and $854,855 in 2023.
- Long filing history (13 filings) suggests established operations and compliance with IRS reporting requirements.
Frequently Asked Questions about Great Waters Music Festival Inc
Is Great Waters Music Festival Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Great Waters Music Festival Inc (EIN: 20488006) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does Great Waters Music Festival Inc spend its money?
Great Waters Music Festival Inc directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Great Waters Music Festival Inc tax-deductible?
Great Waters Music Festival Inc is registered as a tax-exempt nonprofit (EIN: 20488006). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Great Waters Music Festival Inc CEO make?
Great Waters Music Festival Inc's highest-compensated officer earns $1 annually. The organization reported $883K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Great Waters Music Festival Inc's spending goes to programs?
Great Waters Music Festival Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Great Waters Music Festival Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Great Waters Music Festival Inc is above average for NTEE category A68 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Great Waters Music Festival Inc located?
Great Waters Music Festival Inc is headquartered in Wolfeboro, New Hampshire and files with the IRS under EIN 20488006. It is classified under NTEE code A68.
How many years of IRS 990 filings does Great Waters Music Festival Inc have?
Great Waters Music Festival Inc 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 $883K in total revenue.
Why did liabilities increase significantly from $15,000 in 2022 to $162,023 in 2023?
The IRS 990 filings show a substantial jump in liabilities, which could be due to various factors such as deferred revenue, new loans, or accounts payable. Further detail from the organization's financial statements would be needed to understand the specific nature of this increase.
What caused the operating deficits in 2022 and 2023?
In 2022, expenses ($847,211) significantly outpaced revenue ($644,698), and in 2023, expenses ($866,766) slightly exceeded revenue ($854,855). This suggests that the organization's operational costs have been higher than its income generation in these periods, potentially due to increased event costs, reduced donations, or other factors.
How does the organization plan to address the recent trend of expenses exceeding revenue?
The filings indicate a pattern of spending more than it earns in recent years. The organization would need to implement strategies to either increase revenue streams or reduce operational costs to ensure long-term financial stability.
What is the breakdown of the $866,766 in expenses reported in 2023?
Without a detailed breakdown of expenses into program, administrative, and fundraising categories, it's difficult to assess the efficiency of spending. This information is crucial for understanding how funds are being utilized to achieve the mission.
Filing History
IRS 990 filing history for Great Waters Music Festival Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Great Waters Music Festival Inc's revenue has grown by 209.5%, moving from $276K to $855K. Total assets increased by 641.5% over the same period, from $89K to $663K. Total functional expenses rose by 229.5%, from $263K to $867K. In its most recent filing year (2023), Great Waters Music Festival Inc reported a deficit of $12K, with expenses exceeding revenue. The organization holds $162K in liabilities against $663K in assets (debt-to-asset ratio: 24.4%), resulting in net assets of $501K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $855K | $867K | $663K | $162K | — | — |
| 2022 | $645K | $847K | $528K | $15K | — | — |
| 2021 | $906K | $742K | $768K | $1K | — | — |
| 2019 | $659K | $369K | $450K | $5K | — | View 990 |
| 2018 | $218K | $287K | $157K | $1K | — | View 990 |
| 2017 | $209K | $206K | $225K | $5K | — | View 990 |
| 2017 | $221K | $244K | $252K | $35K | — | View 990 |
| 2016 | $326K | $303K | $268K | $27K | — | View 990 |
| 2015 | $265K | $283K | $280K | $63K | — | View 990 |
| 2014 | $323K | $267K | $287K | $53K | — | View 990 |
| 2013 | $213K | $233K | $221K | $43K | — | View 990 |
| 2012 | $307K | $195K | $273K | $75K | — | View 990 |
| 2011 | $276K | $263K | $89K | $3K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $855K, expenses of $867K, and assets of $663K (revenue +32.6% year-over-year).
- 2022: Revenue of $645K, expenses of $847K, and assets of $528K (revenue -28.8% year-over-year).
- 2021: Revenue of $906K, expenses of $742K, and assets of $768K (revenue +37.5% year-over-year).
- 2019: Revenue of $659K, expenses of $369K, and assets of $450K (revenue +202.8% year-over-year).
- 2018: Revenue of $218K, expenses of $287K, and assets of $157K (revenue +4.2% year-over-year).
- 2017: Revenue of $209K, expenses of $206K, and assets of $225K (revenue -5.6% year-over-year).
- 2017: Revenue of $221K, expenses of $244K, and assets of $252K (revenue -32.3% year-over-year).
- 2016: Revenue of $326K, expenses of $303K, and assets of $268K (revenue +22.9% year-over-year).
- 2015: Revenue of $265K, expenses of $283K, and assets of $280K (revenue -17.7% year-over-year).
- 2014: Revenue of $323K, expenses of $267K, and assets of $287K (revenue +51.4% year-over-year).
- 2013: Revenue of $213K, expenses of $233K, and assets of $221K (revenue -30.6% year-over-year).
- 2012: Revenue of $307K, expenses of $195K, and assets of $273K (revenue +11.3% year-over-year).
- 2011: Revenue of $276K, expenses of $263K, and assets of $89K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Great Waters Music Festival Inc:
Data Sources and Methodology
This transparency report for Great Waters Music Festival Inc 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.