Elastic Arts Foundation

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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

Aaron Rodgers

Phone

7737723616

Tax Period

2024-09-01 to 2025-08-31

Elastic Arts Foundation, founded in 2002, is a small nonprofit in the Arts, Culture & Humanities sector that reported $601K in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. The organization ran a surplus of $120K, a strong 20% operating margin.

Mission

Elastic Arts fosters a community of musicians and artists in the Avondale/Logan Square neighborhood of Chicago by developing and presenting creative and independent music, art, and performance events.

Program Service Accomplishments

Program 1

Expenses: $428,123 Revenue: $115,114

1) PRODUCTION AND PRESENTATION OF APPROXIMATELY 200 MUSIC CONCERTS, PERFORMANCES, AND ARTS EVENTS, OPEN TO THE GENERAL PUBLIC. 2) RENTAL OF PERFORMANCE SPACE TO LOCAL ARTISTS FOR A NOMINAL FEE, 3)...

1) PRODUCTION AND PRESENTATION OF APPROXIMATELY 200 MUSIC CONCERTS, PERFORMANCES, AND ARTS EVENTS, OPEN TO THE GENERAL PUBLIC. 2) RENTAL OF PERFORMANCE SPACE TO LOCAL ARTISTS FOR A NOMINAL FEE, 3) DEVELOPMENT OF RESIDENCY PROGRAMS FOR EMERGING CHICAGO ARTISTS AND CURATORS

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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 $467,279

Program Service Revenue $115,114

Investment Income $9

Other Revenue $18,311

TOTAL REVENUE $600,713

Expense Breakdown

Grants Paid $0

Salaries & Benefits $222,804

Fundraising Expenses $15,463

Program Expenses $428,123

Other Expenses $258,177

TOTAL EXPENSES $480,981

Year-over-Year Comparison

	2024	2023	Change
Revenue	$600,713	$508,476	+0.2%
Expenses	$480,981	$572,187	-0.2%
Net Income	$119,732	$-63,711	-2.9%

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

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

$127,846

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Adam Zanolini	Frmr Exec Dir	40.00	Officer	$65,310	$0	$65,310
Ben Billington	Co-Exec Dir	40.00	Officer	$62,536	$0	$62,536
Aaron Rodgers	President	5.00	Officer Director	$0	$0	$0
Latoya Hunter	Secretary	5.00	Officer Director	$0	$0	$0
Irmi Maunu-Kocian	Treasurer	5.00	Officer Director	$0	$0	$0
Cristal Sabbagh	Trustee	5.00	Director	$0	$0	$0
Trea Fotidzis	Trustee	5.00	Director	$0	$0	$0
Paul Giallorenzo	Trustee	5.00	Director	$0	$0	$0
Adia Sykes	Trustee	5.00	Director	$0	$0	$0
Kirsten Byers	Trustee	5.00	Director	$0	$0	$0
Katinka Kleijn	Trustee	5.00	Director	$0	$0	$0
Ayanna Woods	Trustee	5.00	Director	$0	$0	$0
Stephan Moore	Director	5.00	Director	$0	$0	$0
Deidre Huckabay	Director	5.00	Director	$0	$0	$0
Peter Gillette	Co-Exec Dir	40.00	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	$600,713	$480,981	$842,518	$119,732
2024	$508,476	$572,187	$361,411	$-63,711
2023	$627,092	$488,198	$437,195	$138,894
2022	$470,759	$413,359	$287,059	$57,400
2021	$320,540	$261,886	$286,304	$58,654
2020	$192,957	$246,285	$172,201	$-53,328
2019	$361,562	$253,550	$210,927	$108,012
2018	$229,630	$246,355	$93,160	$-16,725