NORTH SHORE ARTS ASSOCIATION OF GLOUCESTER INC

EIN: 046004831 501(c)(3)

GLOUCESTER, MA

Total Revenue
$276,796
Total Expenses
$272,934
Total Assets
$796,876
Net Assets
$792,711
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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
1922
Legal Domicile
MA
Phone
9782831857
Tax Period
2024-01-01 to 2024-12-31

NORTH SHORE ARTS ASSOCIATION OF GLOUCESTER INC, founded in 1922, is a small nonprofit that reported $277K in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Net assets of $793K represent 34 months of operating reserves.

Mission

FOSTER THE CREATION AND APPRECIATION OF THE FINE ARTS BY HOLDING ART EXHIBITIONS; CONDUCTING EDUCATIONAL PROGRAMS; ACQUIRING AND DISPLAYING A PERMANENT COLLECTION OF REPRESENTATIONAL CAPE ANN WORKS OF ART; MAINTAINING AND PRESERVING OUR HISTORIC FACILITY IN GLOUCESTER, MASS

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $91,253
Program Service Revenue $0
Investment Income $880
Other Revenue $184,663
TOTAL REVENUE $276,796

Expense Breakdown

Grants Paid $0
Salaries & Benefits $159,641
Fundraising Expenses $0
Program Expenses $242,576
Other Expenses $113,293
TOTAL EXPENSES $272,934

Year-over-Year Comparison

2024 2023 Change
Revenue $276,796 $255,047 +0.1%
Expenses $272,934 $280,191 0.0%
Net Income $3,862 $-25,144 -1.2%
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

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Governance

Voting Members
13
Independent Members
13
Employees
4
Volunteers
N/A

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
4
$0
Total Directors
9
$60,060
Key Employees
1
$60,060
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SARAH MILTON EXECUTIVE DIRECTOR 0.00
Director Key Emp Highest
$60,060 $0 $60,060
ROBERT FRASCELLA DIRECTOR 0.00
Director
$0 $0 $0
STEPHEN HOWARD DIRECTOR 0.00
Director
$0 $0 $0
STEVE KENNEDY DIRECTOR 0.00
Director
$0 $0 $0
STEVE LUSH DIRECTOR 0.00
Director
$0 $0 $0
DAVID NEILL DIRECTOR 0.00
Director
$0 $0 $0
MARION RAYNER DIRECTOR 0.00
Director
$0 $0 $0
MARY ROSE OCONNELL DIRECTOR 0.00
Director
$0 $0 $0
STEVE WETZEL DIRECTOR 0.00
Director
$0 $0 $0
DAVID DRINON VICE PRESIDENT 0.00
Officer
$0 $0 $0
SUSAN ELLIS SECRETARY 0.00
Officer
$0 $0 $0
PETER HOLTON PRESIDENT 0.00
Officer
$0 $0 $0
ROGER LEVINE TREASURER 0.00
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 $276,796 $272,934 $796,876 $3,862
2023 $255,047 $390,357 $796,821 $-135,310
2022 $290,367 $276,225 $822,498 $14,142
2021 $277,919 $276,427 $806,755 $1,492
2020 $148,966 $114,854 $804,937 $34,112
2019 $276,655 $247,781 $765,013 $28,874
2018 $376,010 $269,644 $736,393 $106,366
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