Art Museum New Bedford Inc (EIN 043274100) - 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

1994

Legal Domicile

Principal Officer

Peter Covill

Tax Period

2023-01-01 to 2023-12-31

Art Museum New Bedford Inc, founded in 1994, is a small nonprofit that reported $906K in total revenue in fiscal year 2023. Revenue surged 200% from the prior year, signaling strong growth momentum. The organization ran a surplus of $299K, a strong 33% operating margin.

Mission

New Bedford Art Museum is dedicated to engaging a diverse audience in relevant exhibitions, exemplary education, and creative experiences as a vital innovative center for the arts.

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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 $881,673

Program Service Revenue $28,948

Investment Income $576

Other Revenue $-4,821

TOTAL REVENUE $906,376

Expense Breakdown

Grants Paid $0

Salaries & Benefits $356,188

Fundraising Expenses $120,016

Program Expenses $289,666

Other Expenses $206,962

TOTAL EXPENSES $607,192

Year-over-Year Comparison

	2023	2022	Change
Revenue	$906,376	$302,037	+2.0%
Expenses	$607,192	$443,033	+0.4%
Net Income	$299,184	$-140,996	-3.1%

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

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
Timothy Mahoney	Trustee	5.00	Director	$0	$0	$0
John H Deknatel	Trustee	5.00	Director	$0	$0	$0
Mark Medeiros	Trustee	5.00	Director	$0	$0	$0
Marcelina Pina-Christian	Trustee	5.00	Director	$0	$0	$0
Gig Lang	Trustee	5.00	Director	$0	$0	$0
Margo Saulnier	Clerk	5.00	Officer Director	$0	$0	$0
Peter Covill	Treasurer	5.00	Officer Director	$0	$0	$0
Caroline Conzatti	Vice Chair	5.00	Officer Director	$0	$0	$0
A Lawrence Jenkins	President	5.00	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	$906,376	$607,192	$543,571	$299,184
2022	$302,037	$443,033	$229,273	$-140,996
2021	$569,399	$526,532	$364,392	$42,867
2020	$525,354	$594,138	$396,501	$-68,784
2019	$746,392	$647,523	$237,153	$98,869
2018	$477,397	$460,675	$147,548	$16,722

Art Museum New Bedford Inc