FRANKLIN PERFORMING ARTS COMPANY INC (EIN 043111745) - 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

1991

Legal Domicile

Principal Officer

RAYE LYNN MERCER

Phone

5085288668

Tax Period

2023-01-01 to 2023-12-31

FRANKLIN PERFORMING ARTS COMPANY INC, founded in 1991, is a small nonprofit in the Arts, Culture & Humanities sector that reported $635K in total revenue in fiscal year 2023. Expenses of $842K exceeded revenue, resulting in a 33% operating deficit.

Mission

FPAC IS DEDICATED TO THE PROMOTION AND ENCOURAGEMENT OF PERFORMING ARTS, WITH A COMMITMENT TO YOUTH DEVELOPMENT. FPAC PRESENTS QUALITY PERFORMANCES WHILE OFFERING OPPORTUNITIES FOR

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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 $192,175

Program Service Revenue $390,395

Investment Income $4,060

Other Revenue $48,695

TOTAL REVENUE $635,325

Expense Breakdown

Grants Paid $0

Salaries & Benefits $174,466

Fundraising Expenses $42,498

Program Expenses $771,459

Other Expenses $667,884

TOTAL EXPENSES $842,350

Year-over-Year Comparison

	2023	2022	Change
Revenue	$635,325	$621,812	+0.0%
Expenses	$842,350	$723,248	+0.2%
Net Income	$-207,025	$-101,436	+1.0%

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

135

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

$134,000

Total Directors

$134,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RAYE LYNN MERCER	BUS.MGR - 50 HRS/MONTH	15.00	Officer Director	$0	$0	$134,000
RAYE LYNN MERCER	PROD. DIRECTOR-200HRS/PROD	10.00	Officer Director	$0	$0	$0
THOMAS MERCER	DIRECTOR - 25 HRS/MONTH	6.00	Director	$0	$0	$0
WILLIAM WEISS	DIRECTOR - 15 HRS/MONTH	4.00	Director	$0	$0	$0
TYRICK WILTEZ JONES	DIRECTOR - 15 HRS/MONTH	4.00	Officer Director	$0	$0	$0
DAVID PORTER	DIRECTOR - 15 HOURS PER MONTH	4.00	Director	$0	$0	$0
WILLIAM BUCCELLA	DIRECTOR - 15 HOURS PER MONTH	4.00	Director	$0	$0	$0
ROGER BRESLIN	DIRECTOR - 15 HOURS PER MONTH	4.00	Officer Director	$0	$0	$0
LORI WIRKUS	DIRECTOR - 15 HOURS PER MONTH	4.00	Officer 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
2024	No data	No data	No data	No data
2023	$635,325	$842,350	$535,938	$-207,025
2022	$621,812	$723,248	$719,709	$-101,436
2021	$911,262	$847,218	$916,825	$64,044

FRANKLIN PERFORMING ARTS COMPANY INC