NEWBURYPORT ART ASSOCIATION 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

1948

Legal Domicile

Principal Officer

CHARLES SCHENK

Phone

9787715162

Tax Period

2023-01-01 to 2023-12-31

NEWBURYPORT ART ASSOCIATION INC, founded in 1948, is a small nonprofit in the Arts, Culture & Humanities sector that reported $343K in total revenue in fiscal year 2023. Revenue surged 29% from the prior year, signaling strong growth momentum. Expenses of $412K exceeded revenue, resulting in a 20% operating deficit.

Mission

TO PROMOTE AND EXHIBIT MEMBERS' WORK AND TO PROVIDE EDUCATION AND ACCESS TO THE VISUAL ARS FOR THE ENTIRE COMMUNITY

Program Service Accomplishments

Program 1

Expenses: $252,037

THE NEWBURYPORT ART ASSOCIATION HAS BECOME THE CORNERSTONE OF GREATER NEWBURYPORT'S VIBRANT ARTS SCENE WITH OVER 500 ARTIST MEMBERS FROM AROUND THE REGION EXHIBITING THEIR ARTWORK IN A FULL CALENDAR OF OPEN, JURIED, INVITATIONAL, FEATURED ARTIST AND INTEREST GROUP SHOWINGS DURING THE YEAR. IN ADDITION, WE OFFER A FULL CALENDAR OF STUDIO CLASSES AND WORKSHOPS FOR CHILDREN, TEENS AND ADULTS, AND WE SUPPORT TWO IMPORTANT COMMUNITY OUTREACH PROGRAMS: ARTLINK AND OPART.

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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 $207,254

Program Service Revenue $70,450

Investment Income $5,495

Other Revenue $59,799

TOTAL REVENUE $342,998

Expense Breakdown

Grants Paid $0

Salaries & Benefits $248,025

Fundraising Expenses $52,434

Program Expenses $252,037

Other Expenses $163,653

TOTAL EXPENSES $411,678

Year-over-Year Comparison

	2023	2022	Change
Revenue	$342,998	$265,968	+0.3%
Expenses	$411,678	$389,013	+0.1%
Net Income	$-68,680	$-123,045	-0.4%

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
THOMAS BAILEY	BOARD MEMBER	N/A	Director	$0	$0	$0
PAIGE BAUMANN	BOARD MEMBER	N/A	Director	$0	$0	$0
LORI CLARK	BOARD MEMBER	N/A	Director	$0	$0	$0
SUSAN DOUGHERTY	BOARD MEMBER	N/A	Director	$0	$0	$0
BRIAN HARRINGTON	TREASURER	N/A	Director	$0	$0	$0
JASON HARRIS	BOARD MEMBER	N/A	Director	$0	$0	$0
LAURIE HYLTON	BOARD MEMBER	N/A	Director	$0	$0	$0
KELLY SHEA KNOWLES	BOARD MEMBER	N/A	Director	$0	$0	$0
DEB PARE	BOARD MEMBER	N/A	Director	$0	$0	$0
LISA PURINTON	BOARD MEMBER	N/A	Director	$0	$0	$0
CHARLES SCHENK	VICE PRESIDE	N/A	Director	$0	$0	$0
ADRIENNE SILVERSMITH	BOARD MEMBER	N/A	Director	$0	$0	$0
SCOTT SIMMONS	PRESIDENT	N/A	Director	$0	$0	$0
JEAN TRIM	BOARD MEMBER	N/A	Director	$0	$0	$0
DR LISA NAAS	EXECUTIVE DI	N/A	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	$342,998	$411,678	$569,380	$-68,680
2022	$265,968	$399,144	$628,997	$-133,176
2022	$265,968	$389,013	$628,997	$-123,045
2021	$473,164	$335,794	$781,598	$137,370
2020	$157,046	$214,498	$620,958	$-57,452
2019	$309,533	$354,834	$657,217	$-45,301
2018	$436,945	$355,433	$692,287	$81,512