SOCIETY FOR THE DEVELOPMENT OF ARTS

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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

JOHN MOYNIHAN

Phone

9784627336

Tax Period

2023-01-01 to 2023-12-31

SOCIETY FOR THE DEVELOPMENT OF ARTS, founded in 1978, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.5M in total revenue in fiscal year 2023. Revenue surged 49% from the prior year, signaling strong growth momentum. Expenses of $1.8M exceeded revenue, resulting in a 17% operating deficit.

Mission

THE FIREHOUSE CENTER FOR THE ARTS IS A NON-PROFIT CENTER FOR THE ARTS GRATEFULLY SUPPORTED BY YOU AND OTHERS IN THE COMMUNITY. THE 191 SEAT THEATER IS ACTIVE THROUGHOUT THE YEAR WITH FIREHOUSE PRODUCED EVENTS, PARTNER PRESENTATIONS, AND ARTS EDUCATION PROGRAMS.

Program Service Accomplishments

Program 1

Expenses: $1,325,056 Revenue: $762,274

STAGING MUSICAL AND THEATRICAL PERFORMANCES IN LOCAL SCHOOLS AND AT THE ARAKELIAN THEATRE AT THE FIREHOUSE CENTER IN NEWBURYPORT. THE ORGANIZATION ALSO SUPPORTS THE VISUAL ARTS THROUGH THE ART...

STAGING MUSICAL AND THEATRICAL PERFORMANCES IN LOCAL SCHOOLS AND AT THE ARAKELIAN THEATRE AT THE FIREHOUSE CENTER IN NEWBURYPORT. THE ORGANIZATION ALSO SUPPORTS THE VISUAL ARTS THROUGH THE ART GALLERY AT THE FIREHOUSE CENTER.

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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 $600,433

Program Service Revenue $762,274

Investment Income $4,799

Other Revenue $179,272

TOTAL REVENUE $1,546,778

Expense Breakdown

Grants Paid $0

Salaries & Benefits $490,878

Fundraising Expenses $103,533

Program Expenses $1,325,056

Other Expenses $1,316,687

TOTAL EXPENSES $1,807,565

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,546,778	$1,037,619	+0.5%
Expenses	$1,807,565	$1,649,382	+0.1%
Net Income	$-260,787	$-611,763	-0.6%

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
TOM HOPP	DIRECTOR	4.00	Director	$0	$0	$0
KRISTEN JACKMAN	CLERK	10.00	Director	$0	$0	$0
MICHELLE MIAKOS	DIRECTOR	4.00	Director	$0	$0	$0
SHAUNA PIENIAZEK	VICE PRESIDE	15.00	Director	$0	$0	$0
LYDIA POLLARD	DIRECTOR	4.00	Director	$0	$0	$0
MAUREEN POMEROY	DIRECTOR	4.00	Director	$0	$0	$0
KEVIN STROMSKI	DIRECTOR	4.00	Director	$0	$0	$0
NANCY CASWELL	TREASURER	15.00	Officer	$0	$0	$0
LISA WETENKAMP	PRESIDENT	15.00	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
2024	No data	No data	No data	No data
2023	$1,546,778	$1,807,565	$1,644,934	$-260,787
2022	$1,037,619	$1,649,382	$1,905,522	$-611,763
2021	$1,817,661	$983,212	$2,428,495	$834,449
2020	$888,815	$843,019	$1,591,523	$45,796
2019	$1,338,457	$1,444,970	$1,589,687	$-106,513
2018	$1,445,686	$1,471,444	$1,653,241	$-25,758