New Hampshire Institute of 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

1898

Legal Domicile

Principal Officer

Paula Amato

Phone

6036220313

Tax Period

2018-07-01 to 2019-06-30

New Hampshire Institute of Art, founded in 1898, is a mid-sized nonprofit that reported $13.7M in total revenue in fiscal year 2018.

Mission

To educate, engage, and empower through the arts.

Program Service Accomplishments

Program 1

Expenses: $10,347,099 Revenue: $10,972,241

Since 1898 The New Hampshire Institute of Art (NHIA) has remained committed to its mission of educating, engaging, and empowering through the arts. NHIA is the oldest and largest non-profit arts...

Since 1898 The New Hampshire Institute of Art (NHIA) has remained committed to its mission of educating, engaging, and empowering through the arts. NHIA is the oldest and largest non-profit arts institution in New Hampshire. Today our vision is to be seen as a leader in arts education, recognized for our ability to use the arts to foster positive change in the world and enable individuals to reach their full creative potential. NHIA's academic programs and residence halls are housed in 11 buildings spread throughout downtown Manchester, Sharon and Peterborough, NH. The New Hampshire Institute of Art (NHIA) offers Bachelor of Fine Arts (BFA) degree programs in ceramics, comic arts, creative writing, design, fine arts, illustration printmaking, and photography as well as low-residency master of fine arts (MFA) degree programs in creative writing, photography, and visual arts, and a master of arts in teaching (MAT) degree. NHIA's community education division offers non-credit fine arts classes, workshops, and visiting artists intensives taught by a faculty of accomplished and passionate artists/educators. Other offerings at either our Manchester or Sharon, NH campuses include a pre-college summer program and a certificate in creative placemaking.

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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 (2018)

Revenue Breakdown

Contributions & Grants $195,786

Program Service Revenue $10,972,241

Investment Income $285,987

Other Revenue $2,231,122

TOTAL REVENUE $13,685,136

Expense Breakdown

Grants Paid $3,361,214

Salaries & Benefits $4,797,794

Fundraising Expenses $0

Program Expenses $10,347,099

Other Expenses $5,869,050

TOTAL EXPENSES $14,028,058

Year-over-Year Comparison

	2018	2017	Change
Revenue	$13,685,136	$12,778,588	+0.1%
Expenses	$14,028,058	$15,881,896	-0.1%
Net Income	$-342,922	$-3,103,308	-0.9%

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

293

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

$889,200

Total Directors

$601,039

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michele Perkins	President	2.00	Officer Director	$0	$32,674	$332,642
James Murtha	Vice President	2.00	Officer Director	$0	$12,343	$98,510
TJ Whitelaw	Chair	2.00	Officer Director	$0	$0	$0
Katherine Haley	Trustee	2.00	Director	$0	$0	$0
Scott Simpson	Trustee	2.00	Director	$0	$0	$0
Adam Kapner	Trustee	2.00	Director	$0	$0	$0
Tom Stevens	Past Chair	2.00	Officer Director	$0	$0	$0
Joe Reilly	Past Vice Chair	2.00	Officer Director	$0	$0	$0
Kevin Clougherty	Past Treasurer	2.00	Officer Director	$0	$0	$0
George Foote Jr	Past Secretary	2.00	Officer Director	$0	$0	$0
Tom Dougherty	Past Trustee	2.00	Director	$0	$0	$0
Beate Becker	Past Trustee	2.00	Director	$0	$0	$0
Bill Stevens	Past Trustee	2.00	Director	$0	$0	$0
Nick Bentley	Past Trustee	2.00	Director	$0	$0	$0
David Murray	Past Trustee	2.00	Director	$0	$0	$0
Ben Gayman	Past Trustee	2.00	Director	$0	$0	$0
Terry Heinzmann	Past Trustee	2.00	Director	$0	$0	$0
Ellen Davis	Past Trustee	2.00	Director	$0	$0	$0
Karen Hillson	Past Faculty Trustee	2.00	Director	$59,385	$404	$59,789
Karen Mayeu	Past Faculty Trustee	2.00	Director	$62,941	$2,624	$65,565
Rich Pellegrino	Past Faculty Trustee	2.00	Director	$44,090	$443	$44,533
Kent Devereaux	President	37.50	Officer	$209,487	$32,845	$242,332
Paula Amato	Senior Vice President & CFO - NEC	2.00	Officer	$0	$23,873	$215,716
Jonathan Lindsey	Vice President of Enrollment	37.50	Highest	$140,102	$40,411	$180,513
William Schaaf Jr	Vice President of Academic Affairs	37.50	Highest	$106,904	$35,613	$142,517

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
2019	$13,685,136	$14,028,058	No data	$-342,922
2018	$12,778,588	$15,881,896	$38,972,020	$-3,103,308