KENT ART ASSOCIATION INC (EIN 066057902) - 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

1940

Legal Domicile

Principal Officer

Joan MacFarlane

Phone

8609273989

Tax Period

2024-01-01 to 2024-12-31

KENT ART ASSOCIATION INC, founded in 1940, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $63K in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. Net assets of $570K represent 108 months of operating reserves.

Mission

TO PROVIDE EMERGING AND ESTABLISHED ARTISTS A VENUE TO DISPLAY ARTWORK TO A WIDE AUDIENCE, RECOGNIZE ARTISTS FOR THEIR ACHIEVEMENTS, AND PRESENT ART RELATED PROGRAMS FOR THE EDUCATION OF ARTISTS AND THE PUBLIC.

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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 $16,451

Program Service Revenue $7,009

Investment Income $39,709

Other Revenue $0

TOTAL REVENUE $63,169

Expense Breakdown

Grants Paid $0

Salaries & Benefits $26,875

Fundraising Expenses $0

Program Expenses $2,440

Other Expenses $37,121

TOTAL EXPENSES $63,996

Year-over-Year Comparison

	2024	2023	Change
Revenue	$63,169	$49,625	+0.3%
Expenses	$63,996	$68,474	-0.1%
Net Income	$-827	$-18,849	-1.0%

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
Beth Dooley	Trustee	0.50	Director	$0	$0	$0
Graham Myers	Trustee	0.50	Director	$0	$0	$0
Tom Franken	Director	0.50	Director	$0	$0	$0
Carl Chaiet	Director	0.50	Director	$0	$0	$0
Gino Zenobia	Director	0.50	Director	$0	$0	$0
Werner Kappes	Director	0.50	Director	$0	$0	$0
Carla Shere	Director	0.50	Director	$0	$0	$0
Don Sexton	Trustee	0.50	Director	$0	$0	$0
Charles Schmauch	Director	0.50	Director	$0	$0	$0
Michael Worobec	Director	0.50	Director	$0	$0	$0
Karin Smith	Director	0.50	Director	$0	$0	$0
Mary Terrizzi	Director	0.50	Director	$0	$0	$0
Patsy Stroble	TreasurerDirector	5.00	Officer Director	$0	$0	$0
Susan Lopardo	SecretaryDirector	5.00	Officer Director	$0	$0	$0
Joan MacFarlane	PresidentDirector	5.00	Officer Director	$0	$0	$0
Brian Johnson	Vice PresidentDirector	2.00	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	$63,169	$63,996	$571,762	$-827
2023	$49,625	$68,474	$572,321	$-18,849
2022	$50,673	$67,255	$592,036	$-16,582
2021	$68,585	$47,369	$608,030	$21,216
2020	$33,173	$38,953	$585,947	$-5,780
2019	$132,076	$74,240	$591,885	$57,836
2018	$55,652	$82,674	$533,858	$-27,022

KENT ART ASSOCIATION INC