CENTER FOR CONTEMPORARY ART

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1968

Legal Domicile

Principal Officer

JON CHODOSH

Phone

2077015005

Tax Period

2024-04-01 to 2025-03-31

CENTER FOR CONTEMPORARY ART, founded in 1968, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.0M in total revenue in fiscal year 2024. Revenue surged 52% from the prior year, signaling strong growth momentum. Expenses of $1.1M exceeded revenue, resulting in a 11% operating deficit.

Mission

THE CENTER FOR MAINE CONTEMPORARY ART ADVANCES CONTEMPORARY ART IN MAINE THROUGH DIRECT ENGAGEMENT WITH ARTISTS AND THE PUBLIC, CREATING EXCEPTIONAL EXHIBITIONS AND PROGRAMS THAT COMMUNICATE THE TRANSFORMATIVE POWER OF THE ART OF OUR TIME.

Program Service Accomplishments

Program 1

Expenses: $945,634 Revenue: $40,875

ACHIEVED OUR MISSION BY PRESENTING COMPELLING EXHIBITIONS OF CONTEMPORARY ART, OFFERING DIVERSE EDUCATION CLASSES AND WORKSHOPS FOR ALL AGES, AND THROUGH EVENTS INCLUDING LECTURES, ARTIST TALKS, AND PROFESSIONAL DEVELOPMENT SESSIONS THAT PROVIDED IMPORTANT OPPORTUNITIES FOR ARTISTS AND EDUCATORS AND PROMOTED PUBLIC APPRECIATION OF MAINE AND MAINE-CONNECTED CONTEMPORARY ART.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $831,064

Program Service Revenue $40,875

Investment Income $7,068

Other Revenue $144,293

TOTAL REVENUE $1,023,300

Expense Breakdown

Grants Paid $0

Salaries & Benefits $463,159

Fundraising Expenses $92,202

Program Expenses $945,634

Other Expenses $673,061

TOTAL EXPENSES $1,136,220

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,023,300	$674,181	+0.5%
Expenses	$1,136,220	$1,010,179	+0.1%
Net Income	$-112,920	$-335,998	-0.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHARLES ALTSCHUL	TRUSTEE	4.00	Director	$0	$0	$0
HELEN BAUMEISTER	TRUSTEE	2.00	Director	$0	$0	$0
ZEL BOWMAN-LABERGE	TRUSTEE	2.00	Director	$0	$0	$0
JON CHODOSH	CHAIR	8.00	Officer Director	$0	$0	$0
BRAD CHOYT	TRUSTEE	4.00	Director	$0	$0	$0
JENNIFER CLARK	TRUSTEE	2.00	Director	$0	$0	$0
SUSAN DEUTSCH	TRUSTEE	2.00	Director	$0	$0	$0
CAROL EISENBERG	TRUSTEE	2.00	Director	$0	$0	$0
RICHARD FRANKLIN	TREASURER	4.00	Officer Director	$0	$0	$0
SARAH MUDGE	TRUSTEE	2.00	Director	$0	$0	$0
MARTIN PERA	TRUSTEE	2.00	Director	$0	$0	$0
PAMELA SCHREIBER	TRUSTEE	2.00	Director	$0	$0	$0
CATHERINE STEINER-ADAIR	TRUSTEE	2.00	Director	$0	$0	$0
WILLIAM STITES	TRUSTEE	2.00	Director	$0	$0	$0
CAROLYN WATSON	TRUSTEE	4.00	Director	$0	$0	$0
SUE MICHLOVITZ	SECRETARY	4.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$1,023,300	$1,136,220	$5,111,067	$-112,920
2024	$674,181	$1,010,179	$5,166,427	$-335,998
2023	$838,299	$972,353	$5,529,557	$-134,054
2022	$852,628	$769,338	$5,667,263	$83,290
2021	$754,373	$675,598	$5,567,022	$78,775
2020	$1,111,647	$849,379	$5,527,881	$262,268
2019	$918,250	$796,759	$5,545,735	$121,491
2018	$870,946	$687,396	$5,641,068	$183,550