ARTISTS ASSOCIATION OF NANTUCKET 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

1952

Legal Domicile

Principal Officer

TRACEY SEARS

Phone

5082280722

Tax Period

2023-01-01 to 2023-12-31

ARTISTS ASSOCIATION OF NANTUCKET INC, founded in 1952, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.5M in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Expenses of $1.7M exceeded revenue, resulting in a 11% operating deficit.

Mission

TO FOSTER THE VISUAL ARTS ON NANTUCKET, TO PROMOTE, SUPPORT AND ENCOURAGE THE WORK OF NANTUCKET ARTISTS, PROVIDING EDUCATIONAL PROGRAMS IN THE ARTS, PRESERVING THE LEGACY OF NANTUCKET ARTISTS, AND TO CREATE A VIBRANT ARTS COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $481,923 Revenue: $295,229

YEAR-ROUND ART CLASSES AND WORKSHOPS FOR ADULTS AND CHILDREN

Program 2

Expenses: $106,668 Revenue: $0

PERMANENT COLLECTION OF OVER 1,300 PIECES OF NANTUCKET ART .

Program 3

Expenses: $192,133 Revenue: $139,069

GALLERY FEATURING OVER 230 NANTUCKET ARTISTS

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,075,383

Program Service Revenue $434,298

Investment Income $78,853

Other Revenue $-56,539

TOTAL REVENUE $1,531,995

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,126,151

Fundraising Expenses $362,033

Program Expenses $780,724

Other Expenses $570,157

TOTAL EXPENSES $1,696,308

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,531,995	$1,757,909	-0.1%
Expenses	$1,696,308	$1,723,960	0.0%
Net Income	$-164,313	$33,949	-5.8%

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

$248,807

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATTY KENEALLY	PRESIDENT	1.00	Officer Director	$0	$0	$0
PETER STEINGRABER	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
ROBIN WOLPOW	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
KRISTIE FERRENTELLA	TREASURER	1.00	Officer Director	$0	$0	$0
MEGHAN WEEKS	CLERK	1.00	Officer Director	$0	$0	$0
LESLIE BRESETTE	DIRECTOR	1.00	Director	$0	$0	$0
BARBARA STERN BURKE	DIRECTOR	1.00	Director	$0	$0	$0
LAURIE CHAMPION	DIRECTOR	1.00	Director	$0	$0	$0
ERIKA CHRISTENSEN	DIRECTOR	1.00	Director	$0	$0	$0
BARBARA CLARKE	DIRECTOR	1.00	Director	$0	$0	$0
MARYANN JONES	DIRECTOR	1.00	Director	$0	$0	$0
JANET JOSEPH	DIRECTOR	1.00	Director	$0	$0	$0
BOB MIKLOS	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER PINCINCE	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN SAGER	DIRECTOR	1.00	Director	$0	$0	$0
TRACY ULMER	DIRECTOR	1.00	Director	$0	$0	$0
JIM WATERBURY	DIRECTOR	1.00	Director	$0	$0	$0
TRACEY SEARS	EXECUIVE DIRECTOR	40.00	Officer	$137,793	$0	$137,793
COURTNEY BRIDGES	EXEC. DIRECTOR (FMR)	40.00	Officer	$111,014	$0	$111,014

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	No data	No data	No data	No data
2023	$1,531,995	$1,696,308	$5,512,692	$-164,313
2022	$1,757,909	$1,723,960	$5,530,039	$33,949
2021	$1,841,794	$1,486,350	$5,698,877	$355,444
2020	$1,536,789	$1,293,496	$5,236,131	$243,293
2019	$1,399,394	$1,400,387	$4,938,857	$-993
2018	$1,339,482	$1,366,169	$4,790,577	$-26,687

ARTISTS ASSOCIATION OF NANTUCKET INC