HALEAKALA INC

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1971

Legal Domicile

Principal Officer

LEGACY RUSSELL

Phone

2122555793

Tax Period

2024-07-01 to 2025-06-30

HALEAKALA INC, founded in 1971, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.4M in total revenue in fiscal year 2024. Revenue fell 45% from the prior year — a significant decline worth monitoring. Expenses of $3.4M exceeded revenue, resulting in a 44% operating deficit.

Mission

AS ONE OF NEW YORK CITY'S OLDEST NONPROFIT ALTERNATIVE ART CENTERS, THE KITCHEN IS DEDICATED TO OFFERING EMERGING AND ESTABLISHED ARTISTS OPPORTUNITIES TO CREATE AND PRESENT NEW WORK WITHIN, AND ACROSS, THE DISCIPLINES OF DANCE, MUSIC, THEATER, VISUAL ART, AND LITERATURE. KNOWN FOR ITS COMMITMENT TO PROVIDING INSTRUMENTAL EARLY SUPPORT FOR ARTISTS WHO HAVE PROGRESSED TO LATER PROMINENCE, THE KITCHEN HAS BEEN A POWERFUL FORCE IN SHAPING THE CULTURAL LANDSCAPE OF THIS COUNTRY.

Program Service Accomplishments

Program 1

Expenses: $1,740,740 Revenue: $47,272

PERFORMANCE & EXHIBITIONRECOGNIZING ITS LONGSTANDING LEGACY OF EXPERIMENTATION, THE KITCHEN REMAINS DEVOTED TO NURTURING A COMMUNITY OF ARTISTS AND AUDIENCES, PROVIDING ARTISTS THE OPPORTUNITY TO...

PERFORMANCE & EXHIBITIONRECOGNIZING ITS LONGSTANDING LEGACY OF EXPERIMENTATION, THE KITCHEN REMAINS DEVOTED TO NURTURING A COMMUNITY OF ARTISTS AND AUDIENCES, PROVIDING ARTISTS THE OPPORTUNITY TO MAKE--AND FOR AUDIENCES TO ENGAGE WITH--WORK THAT TAKES RISKS NOT AVAILABLE ELSEWHERE. THE KITCHEN ANNUALLY PRODUCES ABOUT 90 PROGRAMS IN ITS GROUND-FLOOR, BLACK-BOX THEATER AND SEVEN TO EIGHT MULTIDISCIPLINARY EXHIBITIONS IN THE SECOND-FLOOR GALLERY. IN KEEPING WITH ITS MISSION TO PROVIDE AN ACCESSIBLE SPACE FOR ARTISTS AND THE PUBLIC, TICKET PRICES FOR PERFORMANCES ARE AFFORDABLE, WHILE ADMISSION TO ARTIST'S TALKS, LITERARY READINGS, AND GALLERY EXHIBITIONS IS FREE OF CHARGE.

Program 2

Expenses: $223,483 Revenue: $2,289

THE KITCHEN'S ARCHIVETHE ARCHIVE PROJECT IS AN ONGOING INITIATIVE TO PRESERVE AND MODERNIZE THE KITCHEN'S EXTENSIVE COLLECTION OF HISTORIC AUDIO AND VIDEOTAPES DOCUMENTING PERFORMANCES AND EVENTS...

THE KITCHEN'S ARCHIVETHE ARCHIVE PROJECT IS AN ONGOING INITIATIVE TO PRESERVE AND MODERNIZE THE KITCHEN'S EXTENSIVE COLLECTION OF HISTORIC AUDIO AND VIDEOTAPES DOCUMENTING PERFORMANCES AND EVENTS THAT HAVE TAKEN PLACE AT THE KITCHEN FOLLOWING ITS INCEPTION IN 1971. THE KITCHEN PROVIDED ARCHIVAL MATERIAL FROM 1971 - 1999 TO THE GETTY RESEARCH CENTER TO ENSURE THE ARCHIVE'S LONG-TERM CONSERVATION AND ACCESS TO A BROADER PUBLIC. WE CURRENTLY HAVE A CONSIDERABLE PORTION OF PRINT AND VIDEO MATERIAL ACCESSIBLE TO THE PUBLIC ONLINE VIA OUR ARCHIVE WEBSITE. ADDITIONALLY, SIX MUSIC CDS OF MATERIAL FROM THE AUDIO ARCHIVE HAVE BEEN COMMERCIALLY RELEASED.

Program 3

Expenses: $124,678

EDUCATION PROGRAMTHE KITCHEN'S EDUCATIONAL PROGRAMS PROVIDE HUNDREDS OF YOUTH AND ADULTS WITH SUBSTANTIVE AND SINGULAR ARTS EXPERIENCES EACH YEAR. AS A RESULT OF THE PARTNERSHIPS WE HAVE FORGED WITH INDIVIDUAL SCHOOLS AND ORGANIZATIONS OVER THE YEARS, THE KITCHEN'S EDUCATION INITIATIVES CONTINUE TO EVOLVE TO MEET THE PARTICULAR NEEDS OF OUR PROGRAM PARTICIPANTS, WHILE REMAINING A VITAL RESOURCE FOR THE COMMUNITY WE SERVE. AT THE CORE OF OUR EDUCATION PROGRAM ARE OUR LONG-STANDING IN-SCHOOL AND AFTER-SCHOOL PROGRAMS AT LIBERTY HIGH SCHOOL ACADEMY FOR NEWCOMERS. WHILE THE PROGRAM PROVIDES A RANGE OF BENEFITS TO RECENT IMMIGRANT STUDENTS, THE OVERARCHING GOALS OF THE IN-SCHOOL WORKSHOPS ARE THROUGH THE PERFORMING ARTS WORKSHOPS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,144,717

Program Service Revenue $40,186

Investment Income $143,040

Other Revenue $48,535

TOTAL REVENUE $2,376,478

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,805,001

Fundraising Expenses $620,715

Program Expenses $2,088,901

Other Expenses $1,503,285

TOTAL EXPENSES $3,412,786

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,376,478	$4,323,450	-0.5%
Expenses	$3,412,786	$3,388,609	+0.0%
Net Income	$-1,036,308	$934,841	-2.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$232,177

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT SOROS	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
JACQUELINE HUMPHRIES	VICE CHAIRPERSON	1.00	Officer Director	$0	$0	$0
SARAH JONES	PRESIDENT (AS OF APR 2025)	1.00	Officer Director	$0	$0	$0
MARLA J MAYER	PRESIDENT (TO APR 2025)	1.00	Officer Director	$0	$0	$0
WADE GUYTON	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
RAFAEL HINES	TREASURER (AS OF JAN 2025)	1.00	Officer Director	$0	$0	$0
CHRIS AHEARN	TREASURER (TO JAN 2025)	1.00	Officer Director	$0	$0	$0
NORA CLANCY	SECRETARY (AS OF JAN 2025)	1.00	Director	$0	$0	$0
DOUGLAS A HAND	SECRETARY (TO JAN 2025)	1.00	Officer Director	$0	$0	$0
LAURIE ANDERSON	BOARD MEMBER	1.00	Director	$0	$0	$0
SARAH ARISON	BOARD MEMBER	1.00	Director	$0	$0	$0
OLIVIER BERGGRUEN	BOARD MEMBER	1.00	Director	$0	$0	$0
SUZY COUE-WILSON	BOARD MEMBER	1.00	Director	$0	$0	$0
MOLLY DAVIES	BOARD MEMBER	1.00	Director	$0	$0	$0
BRYCE DESSNER	BOARD MEMBER (TO NOV 2024)	1.00	Director	$0	$0	$0
CHARLOTTE FENG FORD	BOARD MEMBER	1.00	Director	$0	$0	$0
DR NICOLE FLEETWOOD	BOARD MEMBER (TO APR 2025)	1.00	Director	$0	$0	$0
SIMONE LEIGH	BOARD MEMBER	1.00	Director	$0	$0	$0
OLIVER NEWTON	BOARD MEMBER	1.00	Director	$0	$0	$0
DEBRA SINGER	BOARD MEMBER	1.00	Director	$0	$0	$0
COURTNEY WILLIS BLAIR	BOARD MEMBER	1.00	Director	$0	$0	$0
LEGACY RUSSELL	EXECUTIVE DIRECTOR & CHIEF CURATOR	40.00	Officer	$193,616	$38,561	$232,177
FATIMA ZAIDI	DIRECTOR OF DEVELOPMENT	40.00	Highest	$118,406	$12,650	$131,056

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
2025	$2,376,478	$3,412,786	$16,479,848	$-1,036,308
2024	$4,323,450	$3,388,609	$17,824,102	$934,841
2023	$6,742,034	$2,910,677	$18,231,252	$3,831,357
2022	$4,058,600	$2,229,097	$11,979,550	$1,829,503
2021	$5,093,956	$2,050,182	$11,182,217	$3,043,774
2020	$2,495,219	$2,105,927	$7,516,061	$389,292
2019	$3,609,571	$2,504,156	$6,637,621	$1,105,415
2018	$2,061,516	$2,214,582	$5,464,016	$-153,066