LEXINGTON FRIENDS OF THE ARTS INC

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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

1994

Legal Domicile

Principal Officer

TOM GRIFFITHS

Phone

7818626040

Tax Period

2024-09-01 to 2025-08-31

LEXINGTON FRIENDS OF THE ARTS INC, founded in 1994, is a small nonprofit in the Arts, Culture & Humanities sector that reported $868K in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $793K left a modest 9% surplus.

Mission

THE MUNROE CENTER FOR THE ARTS IS LEXINGTON'S HOME FOR VISUAL AND PERFORMING ARTS FOR EDUCATION AND EXPERIENCE, FOR SELF-EXPRESSION, REJUVENATION AND FRIENDSHIP.

Program Service Accomplishments

Program 1

Expenses: $548,580 Revenue: $592,064

ART EDUCATION AND PROGRAMMING: MUNROE CENTER FOR THE ARTS OFFERS CLASSES THROUGHOUT THE CALENDAR YEAR IN VISUAL ARTS, CERAMICS AND THEATRE.CAMPS: MUNROE CENTER FOR THE ARTS RUNS CAMPS FOR SCHOOL-AGED CHILDREN DURING THE FEBRUARY, APRIL AND SUMMER SCHOOL VACATIONS.PUBLIC PROGRAMMING: MUNROE CENTER FOR THE ARTS SPONSORS NUMEROUS PROGRAMS THAT OFFER CULTURAL ENRICHMENT TO THE PUBLIC AT NO COST WITH ONLY VOLUNTARY CONTRIBUTIONS COLLECTED. THIS INCLUDES PROGRAMS SUCH AS ARTWALK AND VARIOUS ONE TIME EVENTS.

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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 $270,112

Program Service Revenue $592,064

Investment Income $5,507

Other Revenue $802

TOTAL REVENUE $868,485

Expense Breakdown

Grants Paid $0

Salaries & Benefits $450,036

Fundraising Expenses $33,050

Program Expenses $548,580

Other Expenses $333,722

TOTAL EXPENSES $792,758

Year-over-Year Comparison

	2024	2023	Change
Revenue	$868,485	$683,501	+0.3%
Expenses	$792,758	$726,652	+0.1%
Net Income	$75,727	$-43,151	-2.8%

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

101

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

$77,959

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KIM COBURN	CHAIR	0.50	Officer Director	$0	$0	$0
AMY KASER	TREASURER	0.50	Officer Director	$0	$0	$0
DONALD BAILEY	BOARD MEMBER	0.50	Director	$0	$0	$0
ELISABETH COLBATH	BOARD MEMBER	0.50	Director	$0	$0	$0
BILL PASSMAN	BOARD MEMBER	0.50	Director	$0	$0	$0
KEVIN MCKENNA	BOARD MEMBER	0.50	Director	$0	$0	$0
STAR LANCASTER	BOARD MEMBER	0.50	Director	$0	$0	$0
PAM SMITH	BOARD MEMBER	0.50	Director	$0	$0	$0
SUSAN KNAUER	BOARD MEMBER	0.50	Director	$0	$0	$0
OLIVIA KELLEY	BOARD MEMBER	0.50	Director	$0	$0	$0
CRISTINA BURWELL	EXECUTIVE DIRECTOR	40.00	Officer	$77,959	$0	$77,959

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	$868,485	$792,758	$2,405,922	$75,727
2024	$683,501	$726,652	$2,312,742	$-43,151
2023	$810,123	$720,278	$2,376,796	$89,845
2022	$624,948	$661,575	$1,888,162	$-36,627
2021	$649,261	$586,907	$1,935,748	$62,354
2020	$2,206,759	$536,551	$1,863,683	$1,670,208
2019	$545,577	$485,581	$233,947	$59,996
2019	$545,577	$502,573	$607,317	$43,004
2018	$567,473	$527,594	$585,195	$39,879