CONCORD ART ASSOCIATION

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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

1922

Legal Domicile

Principal Officer

ANN OBERRENDER NOYES

Phone

9783692578

Tax Period

2024-07-01 to 2025-06-30

CONCORD ART ASSOCIATION, founded in 1922, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.2M in total revenue in fiscal year 2024. Revenue surged 42% from the prior year, signaling strong growth momentum. The organization ran a surplus of $632K, a strong 52% operating margin.

Mission

TO PROMOTE AND ADVANCE THE VISUAL ARTS AND ARTISTS, AND TO ENRICH AND TO SUSTAIN OUR CULTURAL COMMUNITY.

Program Service Accomplishments

Program 1

CONCORD ART MET FUNDRAISING GOALS TO COMPLETE ITS CENTENNIAL CAPITAL CAMPAIGN

Program 2

BROKE GROUND FOR THE NEW CENTENNIAL ADDITION NAMED THE "KEYES ART BARN"

Program 3

FEATURED AN EXHIBIT TO CELEBRATE CONCORD'S 250 ANNIVERSARY CALLED "LIBERATION TEXTILES"

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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 $863,025

Program Service Revenue $274,280

Investment Income $64,384

Other Revenue $4,170

TOTAL REVENUE $1,205,859

Expense Breakdown

Grants Paid $0

Salaries & Benefits $286,724

Fundraising Expenses $93,819

Program Expenses $357,658

Other Expenses $287,441

TOTAL EXPENSES $574,165

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,205,859	$846,345	+0.4%
Expenses	$574,165	$567,502	+0.0%
Net Income	$631,694	$278,843	+1.3%

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

N/A

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
MONIKA ANDERSSON	DIRECTOR	2.00	Director	$0	$0	$0
STANLY BLACK	VICE PRESIDE	3.00	Officer Director	$0	$0	$0
KATE CHARTENER	DIRECTOR	2.00	Director	$0	$0	$0
RACHEL CLAFLIN	DIRECTOR	2.00	Director	$0	$0	$0
JULIA FARWELL-CLAY	DIRECTOR	2.00	Director	$0	$0	$0
BETSY GARDELLA	DIRECTOR	2.00	Director	$0	$0	$0
HOLLY HARRISON	CO-PRESIDENT	3.00	Officer Director	$0	$0	$0
KATE ATKINSON KAPLAN	SECRETARY	3.00	Officer Director	$0	$0	$0
HENRY KEUTMANN	DIRECTOR	2.00	Director	$0	$0	$0
MARTIN LUECK	DIRECTOR	2.00	Director	$0	$0	$0
ANN OBERRENDER NOYES	TREASURER	3.00	Officer Director	$0	$0	$0
KATHLEEN O'HARA	CO-PRESIDENT	3.00	Officer Director	$0	$0	$0
SUSAN RODDY	DIRECTOR	2.00	Director	$0	$0	$0
RAMSAY TRUSSELL	DIRECTOR	2.00	Director	$0	$0	$0
TIMOTHY WHITNEY	DIRECTOR	2.00	Director	$0	$0	$0
JEFF WIEAND	DIRECTOR	2.00	Director	$0	$0	$0
MANDY YOUNG	DIRECTOR	2.00	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
2025	$1,205,859	$574,165	$4,388,903	$631,694
2024	$846,345	$567,502	$3,577,290	$278,843
2023	$842,825	$563,503	$3,046,518	$279,322
2022	$664,341	$540,388	$2,607,234	$123,953
2021	$448,752	$542,014	$2,439,426	$-93,262
2020	$475,791	$496,206	$2,198,785	$-20,415
2019	$509,637	$530,149	$2,197,240	$-20,512