HOOK ARTS MEDIA 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

1994

Legal Domicile

Principal Officer

MARTHA BOWERS

Phone

7186736790

Tax Period

2023-01-01 to 2023-12-31

HOOK ARTS MEDIA INC, founded in 1994, is a small nonprofit that reported $968K in total revenue in fiscal year 2023.

Mission

PREMISED ON THE BELIEF THAT THE ARTS ARE AN EFECTIVE VEHICLE FOR PERSONAL AND SOCIAL TRANFORMATION, HOOK ARTS MEDIA UNITES ARTISTS AND COMMUNITY MEMBERS AS CO-CREATORS IN DYNAMIC CULTURAL ACTIVITIES THROUGH INNOVATIVE PERFORMING ARTS AND MEDIA EDUCATION PROGRAMS,AND RELATED SITE-SPECIFIC PERFORMANCES AND FESTIVALS. HOOK ARTS MEDIA STIMULATES THE SOCIAL IMAGINATION THROUGH ACTS OF INFORMED EXPRESSION AND CIVIC PARTICIPATION, IN THE INTEREST OF ESTABLISHING A MORE JUST AND EQUITABLE SOCIETY.

Program Service Accomplishments

Program 1

Expenses: $525,000

ARTS EDUCATION: HOOK ARTS MEDIA PROVIDES ARTS INSTRUCTION TO TEENS IN NYC PUBLIC HIGH SCHOOLS, AND PROVIDES FREE ARTS PROGRAMMING AT ITS FACILITY IN RED HOOK, BROOKLYN FOR TEENS AND YOUNG ADULTS.

Program 2

Expenses: $106,954

RED HOOK FEST: HOOK ARTS MEDIA PRODUCES THE FREE, ANNUAL RED HOOK FEST WHICH SHOWCASES THE TALENTS OF LOCAL YOUTH, AND PROVIDES ACCESS TO HIGH QUALITY PROFESSIONAL PERFORMING ARTISTS.

Program 3

Expenses: $11,413

SITE-SPECIFIC PERFORMANCES: "RED HOOK IT", A FESTIVAL OF DANCE PERFORMANCES IN PARTNERSHIP WITH GOOD SHEPHERD'S ANNUAL THANKSGIVING COMMUNITY CELEBRATION (ON HIATUS DUE TO COVID-19). AS WELL AS...

SITE-SPECIFIC PERFORMANCES: "RED HOOK IT", A FESTIVAL OF DANCE PERFORMANCES IN PARTNERSHIP WITH GOOD SHEPHERD'S ANNUAL THANKSGIVING COMMUNITY CELEBRATION (ON HIATUS DUE TO COVID-19). AS WELL AS POP-UP PERFORMANCES AT COMMUNITY EVENTS WITH THE INTENTIONS OF MAKING THE ARTS ACCESSIBLE, AND AFFORDABLE TO LOW-INCOME RED HOOK RESIDENTS AND NUTURING THE CAREERS OF EMERGING LOW-INCOME ARTISTS.

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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 $732,615

Program Service Revenue $235,000

Investment Income $29

Other Revenue $300

TOTAL REVENUE $967,944

Expense Breakdown

Grants Paid $0

Salaries & Benefits $663,108

Fundraising Expenses $284,825

Program Expenses $643,367

Other Expenses $291,864

TOTAL EXPENSES $979,972

Year-over-Year Comparison

	2023	2022	Change
Revenue	$967,944	$965,577	+0.0%
Expenses	$979,972	$1,020,148	0.0%
Net Income	$-12,028	$-54,571	-0.8%

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

$97,000

Total Directors