Waterville Creates
Waterville Creates shows significant asset growth but faces recent operating deficits with no reported officer compensation.
EIN: 10505433 · Waterville, ME · NTEE: A200 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.5M |
| Total Expenses | $4.4M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $5 |
| Net Assets | $4.0M |
| Transparency Score | 85/100 |
Is Waterville Creates Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Waterville Creates directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Waterville Creates
Waterville Creates (EIN: 10505433) is a nonprofit organization based in Waterville, ME, classified under NTEE code A200. The organization reported total revenue of $4.5M and total assets of $5.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Waterville Creates's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Waterville Creates is a mid-size 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 27.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.0M |
| Total Expenses | $4.4M |
| Surplus / Deficit | $-419,037 |
| Total Assets | $5.9M |
| Total Liabilities | $2.0M |
| Net Assets | $4.0M |
| Operating Margin | -10.4% |
| Debt-to-Asset Ratio | 33.1% |
| Months of Reserves | 16.1 months |
Financial Health Grade: B
In 2023, Waterville Creates reported a deficit of $419K with expenses exceeding revenue, holds 16.1 months of operating reserves (strong position), has a debt-to-asset ratio of 33.1% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Waterville Creates's revenue has grown at a compound annual growth rate (CAGR) of 27.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +48.9% | -1.7% | -14.1% |
| 2022 | -17.9% | +117.1% | +7.2% |
| 2021 | +99.4% | +26.1% | +22.5% |
| 2020 | -52.7% | -48.0% | +0.7% |
| 2019 | -35.3% | +92.7% | -10.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| 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 Waterville Creates with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Waterville Creates allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. 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 $419K, with expenses exceeding revenue.
- Debt-to-asset ratio: 33.1%.
Executive Compensation Analysis
The consistent reporting of 0% officer compensation across all available filings is highly commendable, indicating that no portion of the organization's expenses is allocated to executive salaries, which is exceptional for an organization of its size with assets exceeding $5 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 Waterville Creates's IRS 990 filings:
- Consecutive operating deficits in 2022 and 2023, with expenses exceeding revenue by $1,819,567 and $419,037 respectively.
- Significant increase in liabilities from $237,730 in 2021 to $1,966,271 in 2023, which could indicate increased debt or other obligations.
Strengths
The following positive indicators were identified for Waterville Creates:
- Consistent reporting of 0% officer compensation, demonstrating a strong commitment to mission-focused spending.
- Substantial asset growth from $954,259 in 2014 to $5,948,550 in 2023, indicating successful capital accumulation.
- Significant revenue generation, with latest reported revenue at $4,460,874, showcasing capacity to attract funding.
Frequently Asked Questions about Waterville Creates
Is Waterville Creates a legitimate charity?
Based on AI analysis of IRS 990 filings, Waterville Creates (EIN: 10505433) some concerns. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
How does Waterville Creates spend its money?
Waterville Creates directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Waterville Creates tax-deductible?
Waterville Creates is registered as a tax-exempt nonprofit (EIN: 10505433). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Waterville Creates CEO make?
Waterville Creates's highest-compensated officer earns $5 annually. The organization reported $4.5M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Waterville Creates's spending goes to programs?
Waterville Creates directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Waterville Creates compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Waterville Creates is above average for NTEE category A200 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Waterville Creates located?
Waterville Creates is headquartered in Waterville, Maine and files with the IRS under EIN 10505433. It is classified under NTEE code A200.
How many years of IRS 990 filings does Waterville Creates have?
Waterville Creates 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 $4.5M in total revenue.
What caused the significant increase in liabilities from $237,730 in 2021 to $1,966,271 in 2023?
The IRS 990 data shows a sharp rise in liabilities. Further investigation into the organization's financial statements would be needed to understand the specific nature of these liabilities (e.g., debt, deferred revenue, capital project financing).
How does Waterville Creates plan to address the recent operating deficits, such as the $419,037 deficit in 2023?
The organization has experienced two consecutive years of expenses exceeding revenue. A sustainable financial strategy would require either increasing revenue streams or reducing expenses to ensure long-term viability.
What is the specific breakdown of program spending given the NTEE code A200 (Arts, Culture, Humanities - General)?
While the overall program spending appears strong, understanding the allocation across different artistic and cultural initiatives would provide deeper insight into their impact.
Filing History
IRS 990 filing history for Waterville Creates showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Waterville Creates's revenue has grown by 1765.6%, moving from $216K to $4.0M. Total assets increased by 630% over the same period, from $815K to $5.9M. Total functional expenses rose by 1661.9%, from $252K to $4.4M. In its most recent filing year (2023), Waterville Creates reported a deficit of $419K, with expenses exceeding revenue. The organization holds $2.0M in liabilities against $5.9M in assets (debt-to-asset ratio: 33.1%), resulting in net assets of $4.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.0M | $4.4M | $5.9M | $2.0M | — | — |
| 2022 | $2.7M | $4.5M | $6.9M | $2.5M | — | — |
| 2021 | $3.3M | $2.1M | $6.5M | $238K | — | View 990 |
| 2020 | $1.7M | $1.7M | $5.3M | $550K | — | — |
| 2019 | $3.5M | $3.2M | $5.2M | $511K | — | — |
| 2018 | $5.4M | $1.7M | $5.8M | $1.4M | — | View 990 |
| 2017 | $932K | $983K | $1.6M | $948K | — | View 990 |
| 2016 | $645K | $927K | $728K | $23K | — | View 990 |
| 2015 | $1.1M | $1.0M | $998K | $11K | — | View 990 |
| 2014 | $444K | $309K | $954K | $41K | — | View 990 |
| 2013 | $210K | $272K | $784K | $6K | — | View 990 |
| 2012 | $210K | $235K | $810K | $11K | — | View 990 |
| 2011 | $216K | $252K | $815K | $8K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.0M, expenses of $4.4M, and assets of $5.9M (revenue +48.9% year-over-year).
- 2022: Revenue of $2.7M, expenses of $4.5M, and assets of $6.9M (revenue -17.9% year-over-year).
- 2021: Revenue of $3.3M, expenses of $2.1M, and assets of $6.5M (revenue +99.4% year-over-year).
- 2020: Revenue of $1.7M, expenses of $1.7M, and assets of $5.3M (revenue -52.7% year-over-year).
- 2019: Revenue of $3.5M, expenses of $3.2M, and assets of $5.2M (revenue -35.3% year-over-year).
- 2018: Revenue of $5.4M, expenses of $1.7M, and assets of $5.8M (revenue +479.7% year-over-year).
- 2017: Revenue of $932K, expenses of $983K, and assets of $1.6M (revenue +44.6% year-over-year).
- 2016: Revenue of $645K, expenses of $927K, and assets of $728K (revenue -41.6% year-over-year).
- 2015: Revenue of $1.1M, expenses of $1.0M, and assets of $998K (revenue +148.7% year-over-year).
- 2014: Revenue of $444K, expenses of $309K, and assets of $954K (revenue +111.1% year-over-year).
- 2013: Revenue of $210K, expenses of $272K, and assets of $784K (revenue +0.1% year-over-year).
- 2012: Revenue of $210K, expenses of $235K, and assets of $810K (revenue -2.8% year-over-year).
- 2011: Revenue of $216K, expenses of $252K, and assets of $815K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Waterville Creates:
Data Sources and Methodology
This transparency report for Waterville Creates 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.