Friends of the Arts & Humanities I… - Form 990 Financial Data

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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

2002

Legal Domicile

Principal Officer

Ida Zito

Phone

9413665293

Tax Period

2024-01-01 to 2024-12-31

Friends of the Arts & Humanities Inc, founded in 2002, is a small nonprofit in the Human Services sector that reported $251K in total revenue in fiscal year 2024. Revenue fell 21% from the prior year — a significant decline worth monitoring. Expenses of $412K exceeded revenue, resulting in a 64% operating deficit.

Mission

To meaningfully grow the funding for the community's arts, endowment and human services through the innovative marketing of unique couture apparel and fine home furnishings

Program Service Accomplishments

Program 1

Expenses: $346,974 Revenue: $391,458

To provide funds for arts and human services nonprofit organizations in the community by selling consigned and donated ladies apparel and home furnishings, fundraising special events and the...

To provide funds for arts and human services nonprofit organizations in the community by selling consigned and donated ladies apparel and home furnishings, fundraising special events and the operation of an estate liquidation business. The Organization operates predominantly with volunteer personnel. The Organization provides grants to qualified not for profit organizations in the arts and humanities.

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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 $74,056

Program Service Revenue $0

Investment Income $0

Other Revenue $177,419

TOTAL REVENUE $251,475

Expense Breakdown

Grants Paid $52,500

Salaries & Benefits $165,961

Fundraising Expenses $476

Program Expenses $346,974

Other Expenses $193,843

TOTAL EXPENSES $412,304

Year-over-Year Comparison

	2024	2023	Change
Revenue	$251,475	$318,215	-0.2%
Expenses	$412,304	$358,618	+0.1%
Net Income	$-160,829	$-40,403	+3.0%

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
IDA ZITO	President	8.00	Officer Director	$0	$0	$0
JANET GALE HAMMER	Director	0.00	Director	$0	$0	$0
RITA CANTON-GREENBAUM	Director	0.00	Director	$0	$0	$0
LYNN ROBBINS	Director	0.00	Director	$0	$0	$0
JUDITH SCHWARTZBAUM	Director	0.00	Director	$0	$0	$0
BARBARA GLANZ	Director	0.00	Director	$0	$0	$0
MARLENE LIBERMAN	Director	0.00	Director	$0	$0	$0
SUSAN PARK	Director	0.00	Director	$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
2024	$251,475	$412,304	$485,029	$-160,829
2023	$318,215	$358,618	$593,675	$-40,403
2022	$288,504	$368,896	$647,416	$-80,392
2021	$394,585	$459,228	$806,846	$-64,643
2020	$337,317	$397,882	$769,785	$-60,565
2019	$604,997	$608,266	$984,308	$-3,269

Friends of the Arts & Humanities Inc