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Waldo Theater Inc

EIN 01-0459306 · Waldoboro, ME

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair62 out of 100GovernanceFair51 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

WALDO THEATRE CONNECTS AND BUILDS COMMUNITY BY CELEBRATING CULTURE AND THE ARTS

Income
$577,146
Spending
$566,736
Spent on programs
76%
Reserves
0.5 months of spending
Largest source of income
fees for its services, 52%
Employees
6
Volunteers
35
Highest pay
$71,500, executive director

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 62 out of 100. Higher than 31% of charities in its peer group (arts and culture, $250k to $1m).

  • Reserves

    4 of 35

    Spendable reserves would cover 0.5 months of spending.

  • Debt

    16 of 20

    It owes 18% of what it owns.

  • Living within its means

    12 of 15

    Income exceeded spending by 2% of income.

  • Income trend

    15 of 15

    Income rose 18% on the year before.

  • Spending floor

    15 of 15

    76% of spending went to programs and raising each dollar of donations cost 20 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Fair: 51 out of 100. Higher than 19% of charities in its peer group (arts and culture, $250k to $1m).

  • Independent board

    25 of 25

    9 of 9 voting board members are independent.

  • Conflict of interest policy

    0 of 15

    Reports no written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    0 of 10

    Did not give the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    6 of 15

    Its accounts were not audited or reviewed by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (2)
  1. $381,657 spent. THE WALDO THEATRE BRINGS LIVE MUSIC,THEATRE, MOVIES, DANCE AND EDUCATIONAL PROGRAMS TO THE MIDCOAST MAINE COMMUNITY YEAR-ROUND. WE ARE DEEPLY COMMITTED TO THE STEWARDSHIP OF THIS HISTORIC LANDMARK AND ARE WORKING TO SPARK AN ECONOMIC AND CULTURAL RENAISSANCE IN DOWNTOWN WALDOBORO AND ACROSS THE MIDCOAST REGION. WE STRIVE TO KEEP OUR PROGRAMMING ACCESSIBLE SO KEEP TICKET PRICES AS LOW AS POSSIBLE. IN 2024 WE PRESENTED 86 TICKETED EVENTS, WELCOMING APPROXIMATELY 8800 PATRONS, OVER 2600 OF WHOM WERE FIRST TIME ATTENDEES. WE IMPROVED PROFITABILITY BY REDUCING THE NUMBER OF TICKETED EVENTS AND INCREASING THE NUMBER OF ATTENDEES (TICKETS SOLD)
  2. $49,343 spent. THE WALDO USES THE TRANSFORMATIVE POWER OF THE ARTS TO ENGAGE, EDUCATE, AND ENTERTAIN, AND HAVE BUILT A SET OF PROGRAMS DESIGNED TO MEET SUTDENTS WHERE THEY ARE ACADEMICALLY, ARTISTICALLY, SOCIALLY, AND EMOTIONALLY,AND HELP THEM DISCOVER AND DEVELOP LIFE SKILLS. OUR GOAL IS TO PROVIDE HIGH QUALITY THEATRE ARTS EDUCATION THAT REINFORCES ACADEMIC LEARNING OBJECTIVES SUCH AS READING COMPREHENSION AND ORAL LANGUAGE SKILLS, AS WELL AS VITAL SOCIAL EMOTIONAL SKILLS SUCH AS CONFIDENCE, COMMUNICATION, CREATIVITY AND CONNECTION. THROUGH ACTIVITIES IN SCHOOL, AFTER SCHOOL AND IN SUMMER, AND MASTER CLASSES BY PROFESSIONAL ARTISTS, THE WALDO SEEKS TO ENRICH CULTURAL EDUCATION FOR ALL RESIDENTS, REGARDLESS OF MEANS. DURING THE 2023/2024 SCHOOL YEAR, OUR IN-SCHOOL PROGRAM SERVED 119 STUDENTS IN SIX CLASSROOMS IN FIVE TOWNS. WE HAD OVER 500 STUDENTS ATTEND CURRICULUM-BASED FIELD TRIPS, AND OUR AFTER SCHOOL PROGRAM SERVED 45 STUDENTS. THE AFTER SCHOOL AND SUMMER CAMP PRGRAMS ARE BOTH FEE-BASED WITH THE GOAL OF BEING SELF-SUSTAINING. FULL OR PARTIAL SCHOLARSHIPS ENSURE THAT NO STUDENT IS LEFT OUT DUE TO ECONOMIC HARDSHIP. UNDERWRITING ALLOWS FOR DECREASED REGISTRATION FEES, INCREASING ACCESSIBILITY.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  2. Has the IRS revoked its tax-exempt status? Worth knowing.

    Status was revoked on May 15, 2010 for not filing returns for three years, and reinstated on May 15, 2010.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since December 2014.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

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