NANTUCKET ISLAND SCHOOL OF DESIGN AND THE ARTS INC (EIN 042642384) - Form 990 Financial Analysis & Trantor Score

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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

1978

Legal Domicile

Principal Officer

KATHY KELM

Phone

5087377917

Tax Period

2024-07-01 to 2025-06-30

NANTUCKET ISLAND SCHOOL OF DESIGN AND THE ARTS INC, founded in 1978, is a small nonprofit that reported $287K in total revenue in fiscal year 2024. Revenue fell 29% from the prior year — a significant decline worth monitoring. Expenses of $483K exceeded revenue, resulting in a 69% operating deficit.

Mission

ENHANCE COMMUNITY ARTS & EDUCATION

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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 $87,597

Program Service Revenue $190,502

Investment Income $8,751

Other Revenue $0

TOTAL REVENUE $286,850

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $19,058

Program Expenses $296,019

Other Expenses $483,438

TOTAL EXPENSES $483,438

Year-over-Year Comparison

	2024	2023	Change
Revenue	$286,850	$404,200	-0.3%
Expenses	$483,438	$622,630	-0.2%
Net Income	$-196,588	$-218,430	-0.1%

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

N/A

Volunteers

271

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

$97,530

Total Directors

$97,530

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHY KELM	PRESIDENT/TREASURER	40.00	Officer Director	$47,950	$0	$47,950
TUCKER CRONIN	DIRECTOR	3.00	Director	$0	$0	$0
LAURA HERHOLD	CLERK	40.00	Officer Director	$49,580	$0	$49,580
VALLORIE OLIVER	DIRECTOR	3.00	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	$286,850	$483,438	$2,601,335	$-196,588
2024	$404,200	$622,630	$2,885,698	$-218,430
2023	$143,616	$564,158	$2,955,490	$-420,542
2022	$1,123,013	$336,386	$3,339,126	$786,627
2021	$519	$486,068	$2,815,046	$-485,549
2020	$19,393	$354,407	$3,356,209	$-335,014
2019	$972,249	$555,040	$3,712,118	$417,209
2018	$2,036,623	$235,279	$3,302,327	$1,801,344

NANTUCKET ISLAND SCHOOL OF DESIGN AND THE ARTS INC