OLD LYME, CT
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)LYME ACADEMY OF FINE ARTS, founded in 1976, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.7M in total revenue in fiscal year 2023. Revenue surged 86% from the prior year, signaling strong growth momentum. The organization ran a surplus of $506K, a strong 19% operating margin.
THE MISSION OF THE LYME ACADEMY OF FINE ARTS IS TO TEACH THE FOUNDATIONAL SKILLS OF DRAWING, PAINTING, AND SCULPTURE IN THE FIGURATIVE TRADITION. BY ITS COMMITMENT TO TRAINING STUDENTS IN THESE SKILLS AND AN ENGAGEMENT WITH CONTEMPORARY DISCOURSE, THE ACADEMY WILL EMPOWER A NEW GENERATION OF ARTISTS. THROUGH ITS PROGRAMS, THE ACADEMY IS COMMITTED TO ENRICHING THE CULTURAL LIFE OF THE COMMUNITY.
In 2021, with fresh leadership at its helm, the Lyme Academy of Fine Arts reopened its doors to students, and welcomed a new generation of success. Under the guidance of a Board of Trustees that has...
In 2021, with fresh leadership at its helm, the Lyme Academy of Fine Arts reopened its doors to students, and welcomed a new generation of success. Under the guidance of a Board of Trustees that has clarified and sharpened the Academys mission, Artistic Direction that is inspiring a new generation of students and a Sculpture program that is the realization of the original vision of the Academys founder, sculptor Elisabeth Gordon Chandler. Artistic directors, Jordan Sokol and Amaya Gurpide have generated interest in the programs of the Lyme Academy of Fine Arts that has grown steadily over the last three years.Recent major gifts have provided support to the endowment of three faculty chair positions, significant capital projects, general operating needs, and have provided the Academy with stability and growth. Key new positions, including the Charlotte Colby Danly Sculpture Chair, Managing Director, and additional staff and faculty have also contributed to growth. The Academys rebirth is evident in the increasing number of students attending, which has met and exceeded the targets set in its multi-year strategic plan. Full-time enrollment has grown from 12 students in 2021-2022, to 23 in 2022-2023, 34 in 2023-24 and 44 students in this academic year. The Academy is limiting its growth to roughly ten additional new students per year, which allows for a high degree of selectivity in admissions as the program grows towards its full enrollment target of 80 students in the 2028-29 academic year. The Academy also serves hundreds of students through Youth Programs, Continuing Education, Workshops and guest lectures.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $2,660,721 | $1,429,130 | +0.9% |
| Expenses | $2,155,065 | $1,787,486 | +0.2% |
| Net Income | $505,656 | $-358,356 | -2.4% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| WENDY BURY | MANAGING DRCTR | 40.00 |
Officer
|
$68,571 | $0 | $68,571 |
| MICHAEL DUFFY | Chairman | 5.00 |
Officer
Director
|
$0 | $0 | $0 |
| LAURA LEE MILLER | VICE CHAIRMAN | 5.00 |
Officer
Director
|
$0 | $0 | $0 |
| PAUL KNIERIM | Secretary | 5.00 |
Officer
Director
|
$0 | $0 | $0 |
| LEE BOWES | Treasurer | 5.00 |
Officer
Director
|
$0 | $0 | $0 |
| TIM GRISWOLD | Director | 3.00 |
Director
|
$0 | $0 | $0 |
| SUE JOFFRAY | Director | 2.00 |
Director
|
$0 | $0 | $0 |
| DAVID KELSEY | Director | 2.00 |
Director
|
$0 | $0 | $0 |
| SUSAN SKELSEY | Director | 2.00 |
Director
|
$0 | $0 | $0 |
| MELISSA BARBIERI | Director | 2.00 |
Director
|
$0 | $0 | $0 |
| WILL ALLIK | Director | 2.00 |
Director
|
$0 | $0 | $0 |
| MICHAEL GRIMALDI | Director | 2.00 |
Director
|
$0 | $0 | $0 |
| EILEEN EDER | Director | 2.00 |
Director
|
$0 | $0 | $0 |
| CASSIE ARCHER | Director | 2.00 |
Director
|
$0 | $0 | $0 |
| CAROL JONES | Director | 2.00 |
Director
|
$0 | $0 | $0 |
| JOSHUA JANSON | Director | 2.00 |
Director
|
$0 | $0 | $0 |
| LINCOLN CHAN | Director | 2.00 |
Director
|
$0 | $0 | $0 |
| LAURA HANSEN | Director | 2.00 |
Director
|
$0 | $0 | $0 |
| WILLIAM BACHMAN | Director | 2.00 |
Director
|
$0 | $0 | $0 |
| HARRY SEGAL | Director | 2.00 |
Director
|
$0 | $0 | $0 |
| MARY WILSON | Director | 2.00 |
Director
|
$0 | $0 | $0 |
| ALLEN ROSENSHINE | Director | 2.00 |
Director
|
$0 | $0 | $0 |
| RUSSELL RUSHMEIER | Director | 2.00 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | No data | No data | No data | No data |
| 2024 | $2,660,721 | $2,155,065 | $16,596,708 | $505,656 |
| 2023 | $1,429,130 | $1,787,486 | $15,291,724 | $-358,356 |
| 2022 | $2,513,940 | $1,582,637 | $14,295,843 | $931,303 |
| 2021 | $518,203 | $922,311 | $13,826,487 | $-404,108 |
Compare LYME ACADEMY OF FINE ARTS with other nonprofits in Connecticut and across the country.