STUDIO IN A SCHOOL 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

1979

Legal Domicile

Principal Officer

PATRICIA HEWITT

Phone

2127655900

Tax Period

2023-07-01 to 2024-06-30

STUDIO IN A SCHOOL ASSOCIATION INC, founded in 1979, is a mid-sized nonprofit that reported $12.0M in total revenue in fiscal year 2023. Revenue surged 44% from the prior year, signaling strong growth momentum. Expenses of $11.4M left a modest 4% surplus.

Mission

TO FOSTER THE CREATIVE & INTELLECTUAL DEVELOPMENT OF STUDENTS OF ALL AGES & COLLABORATE WITH & SUPPORT EDUCATORS THROUGH QUALITY VISUAL ARTS PROGRAMS LED BY ARTS PROFESSIONALS

Program Service Accomplishments

Program 1

Expenses: $2,372,705 Revenue: $278,832

THE RESIDENCY PROGRAM PROVIDES CUSTOMIZED VISUAL ARTS INSTRUCTION OFFERING SPECIFIC ART MEDIA CLASS-WIDE, OR ADDRESSING NEEDS OF PARTICULAR STUDENTS, SUCH AS MULTILINGUAL LEARNERS OR STUDENTS WITH...

THE RESIDENCY PROGRAM PROVIDES CUSTOMIZED VISUAL ARTS INSTRUCTION OFFERING SPECIFIC ART MEDIA CLASS-WIDE, OR ADDRESSING NEEDS OF PARTICULAR STUDENTS, SUCH AS MULTILINGUAL LEARNERS OR STUDENTS WITH DISABILITIES. RANGING FROM 6 TO 14 WEEKS, RESIDENCIES SERVE STUDENTS DURING AND AFTER SCHOOL. STUDIO ARTIST INSTRUCTORS PROVIDE HANDS-ON VISUAL ART INSTRUCTION FOR STUDENTS AS WELL AS TEACHER AND FAMILY ENGAGEMENT IN THE VISUAL ARTS. IN 2023-24, STUDIO NYC SERVED 17,453 STUDENTS THROUGH 207 RESIDENCIES, AT 94 SITES, ENGAGING WITH 1,224 TEACHERS.

Program 2

Expenses: $1,636,139 Revenue: $0

THE LONG-TERM PROGRAM ESTABLISHES SEQUENTIAL, STANDARDS-BASED VISUAL ARTS CURRICULA IN NYC PUBLIC SCHOOLS WHICH LACK VISUAL ARTS INSTRUCTION. PARTNER SCHOOLS HAVE TITLE I STATUS, MAKE A 5-YEAR...

THE LONG-TERM PROGRAM ESTABLISHES SEQUENTIAL, STANDARDS-BASED VISUAL ARTS CURRICULA IN NYC PUBLIC SCHOOLS WHICH LACK VISUAL ARTS INSTRUCTION. PARTNER SCHOOLS HAVE TITLE I STATUS, MAKE A 5-YEAR COMMITMENT, AND DEDICATE A SPACE FOR THE ART STUDIO. THE ARTIST INSTRUCTOR EMBEDS THE VISUAL ARTS INTO THE CURRICULUM AND CULTURE OF THE SCHOOL THROUGH INSTRUCTION ACROSS GRADES IN DIVERSE ART MEDIA, PROFESSIONAL DEVELOPMENT FOR CLASSROOM TEACHERS, FAMILY WORKSHOPS, AND SCHOOL-WIDE EXHIBITIONS. IN 2023-24 THE PROGRAM WORKED WITH 22 SCHOOLS CITYWIDE, SERVING 7,877 STUDENTS AND 488 TEACHERS.

Program 3

Expenses: $1,367,545 Revenue: $34,500

TEEN PROGRAMS FOCUS ON BUILDING THEIR CAPACITY AS ARTISTS AND PARTICIPANTS IN THE ARTS. PROGRAMS INCLUDE ADVANCED VISUAL ARTS WORKSHOPS TO DEVELOP COLLEGE ADMISSION ART PORTFOLIOS AND PAID SUMMER ART INTERNSHIP PROGRAMS INCLUDING 1) TEEN APPRENTICESHIP PROGRAM, WHICH HAS A SPRING ARTS EDUCATION TRAINING COMPONENT LED BY ARTIST INSTRUCTORS WHO PREPARE TEENS TO DELIVER ARTS WORKSHOPS TO CHILDREN IN SUMMER CAMPS 2) BLOOMBERG ARTS INTERNSHIP, WHICH PROVIDES CULTURAL WORKPLACE PLACEMENTS AND BUILDS LIFE AND CAREER SKILLS WITH SUPPORT FROM TRAINED COLLEGE MENTORS, STAFF, AND CONSULTANTS. (SEE SCHEDULE O FOR MORE DETAILS)

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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 $10,155,601

Program Service Revenue $568,961

Investment Income $1,240,186

Other Revenue $-11,360

TOTAL REVENUE $11,953,388

Expense Breakdown

Grants Paid $719,077

Salaries & Benefits $8,313,961

Fundraising Expenses $456,947

Program Expenses $8,164,849

Other Expenses $2,385,794

TOTAL EXPENSES $11,418,832

Year-over-Year Comparison

	2023	2022	Change
Revenue	$11,953,388	$8,309,707	+0.4%
Expenses	$11,418,832	$10,101,533	+0.1%
Net Income	$534,556	$-1,791,826	-1.3%

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

300

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

$875,422

Total Directors

$676,283

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS CAHILL	PRESIDENT - STUDIO INSTITUTE	35.0	Officer Director	$339,973	$27,109	$367,082
ALISON SCOTT-WILLIAMS	PRESIDENT - STUDIO NYC	35.0	Officer Director	$270,977	$38,224	$309,201
GREGORY PIERSON	DIRECTOR OF FINANCE	35.0	Officer	$181,325	$17,814	$199,139
TRICIA BLANCHARD	DIRECTOR OF DEVELOPMENT	35.0	Highest	$166,303	$0	$166,303
LIN WANG	DIRECTOR OF HR	35.0	Highest	$114,176	$734	$114,910
AGNES GUND	FOUNDER	2.0	Officer Director	$0	$0	$0
HASNA MUHAMMAD EDD	CHAIR	2.0	Officer Director	$0	$0	$0
KENNETH COOPER	VICE CHAIR	2.0	Officer Director	$0	$0	$0
DOROTHY LICHTENSTEIN	VICE CHAIR	2.0	Officer Director	$0	$0	$0
MARY MATTINGLY	SECRETARY	2.0	Officer Director	$0	$0	$0
PATRICIA HEWITT	TREASURER	2.0	Officer Director	$0	$0	$0
JYOTSNA BEAN	DIRECTOR	2.0	Director	$0	$0	$0
TONY BECHARA	DIRECTOR	2.0	Director	$0	$0	$0
PHONG BUI	DIRECTOR	2.0	Director	$0	$0	$0
JENNIFER CECERE	DIRECTOR	2.0	Director	$0	$0	$0
GREGORY CLARICK	DIRECTOR	2.0	Director	$0	$0	$0
ERIKA FAUST	DIRECTOR	2.0	Director	$0	$0	$0
ISABELLA HUTCHINSON	DIRECTOR	2.0	Director	$0	$0	$0
LUCY JOFFE	DIRECTOR (AS OF 10/2023)	2.0	Director	$0	$0	$0
JANE KLEIN	DIRECTOR	2.0	Director	$0	$0	$0
TATIA MAYS-RUSSELL	DIRECTOR	2.0	Director	$0	$0	$0
KATHRYN MCAULIFFE	DIRECTOR	2.0	Director	$0	$0	$0
JOANNA MILSTEIN	DIRECTOR	2.0	Director	$0	$0	$0
SHANE NEUFELD	DIRECTOR	2.0	Director	$0	$0	$0
HILARY PECK	DIRECTOR	2.0	Director	$0	$0	$0
AMANDA TAYLOR	DIRECTOR	2.0	Director	$0	$0	$0
PATRICIA WILLIAMS	DIRECTOR	2.0	Director	$0	$0	$0
FRED WILSON	DIRECTOR	2.0	Director	$0	$0	$0
DR VIVIAN PAN	DIRECTOR (thru 08/2023)	2.0	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
2025	No data	No data	No data	No data
2024	$11,953,388	$11,418,832	$24,987,374	$534,556
2023	$8,309,707	$10,101,533	$22,813,587	$-1,791,826
2022	$9,343,625	$8,408,257	$22,912,697	$935,368
2021	$6,228,421	$6,870,124	$26,491,871	$-641,703
2020	$6,769,552	$7,118,232	$22,907,698	$-348,680
2019	$7,961,658	$7,215,041	$21,664,345	$746,617
2018	$7,286,127	$6,777,960	$20,673,487	$508,167