WORKS AND PROCESS 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

1989

Legal Domicile

Principal Officer

CAROLINE CRONSON

Phone

2127580024

Tax Period

2024-01-01 to 2024-12-31

WORKS AND PROCESS INC, founded in 1989, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.5M in total revenue in fiscal year 2024. Revenue surged 41% from the prior year, signaling strong growth momentum. The organization ran a surplus of $582K, a strong 23% operating margin.

Mission

TO PROVIDE THE OPPORTUNITY FOR THE PUBLIC TO LEARN ABOUT THE PROCESS INVOLVED IN CREATING ARTISTIC WORKS SUCH AS DANCE, MUSIC, OPERA AND THEATER.

Program Service Accomplishments

Program 1

Expenses: $1,738,416 Revenue: $691,643

IN 2024, WORKS & PROCESS PRESENTED 58 LIVE MULTIDISCIPLINARY PERFORMANCES/EVENTS IN THE GUGGENHEIM'S MUSEUM'S THEATER (WITH 5 IN THE MUSEUM'S ROTUNDA) AS WELL AS IN LINCOLN CENTER'S ALICE TULLY HALL, THE NEW YORK PUBLIC LIBRARY FOR THE PERFORMING ARTS' AUDITORIUM, SUMMERSTAGE IN VON KING PARK, AND MANHATTAN WEST; THESE ENGAGEMENTS SERVED 22,906 LOCAL AUDIENCES AND 1.3 MILLION+ DIGITAL AUDIENCES (VIA WORKS AND PROCESS' YOUTUBE AND EXTERNAL MEDIA). ALL PROGRAMS ILLUMINATED THE CREATIVE PROCESS BLENDING PERFORMANCE HIGHLIGHTS AND DISCUSSION TO BUILD GREATER UNDERSTANDING, APPRECIATION, AND ENGAGEMENT. WORKS & PROCESS ALSO PARTNERED WITH THE GUGGENHEIM BILBAO, THE VENICE BIENNALE, AND A NETWORK OF 14 RESIDENCY PARTNERS IN MA, NJ, AND NY FOR AN ADDITIONAL 183 PRESENTATIONS AND 21 FULLY-FUNDED LAUNCHPAD CREATIVE RESIDENCIES. 170 LAUNCHPAD ARTISTS BENEFITED FROM 153 DAYS OF RESIDENCIES AND WERE PROVIDED WITH INDUSTRY LEADING RESIDENCY FEES, HOUSING AND 24/7 STUDIO ACCESS, CONTINUING THEIR CRITICAL WORK OF DEVELOPING NEW PERFORMANCE PIECES. AT THE GUGGENHEIM MUSEUM, TICKETS WERE SOLD AT FACE VALUE OF $55-$15. AT LINCOLN CENTER, THE NEW YORK PUBLIC LIBRARY FOR THE PERFORMING ARTS, SUMMERSTAGE, AND MANHATTAN WEST ALL PROGRAMS WERE FREE OR CHOOSE-WHAT-YOU-PAY. PROJECTS COMMISSIONED BY WORKS & PROCESS AND INCUBATED IN LAUNCHPAD TOURED SPANNING CA, CT, DC, GA, IL, MA, MD, MI, NC, NY, OR, PA, WA, AND SPAIN.

🔒

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 $1,702,560

Program Service Revenue $691,643

Investment Income $129,187

Other Revenue $0

TOTAL REVENUE $2,523,390

Expense Breakdown

Grants Paid $0

Salaries & Benefits $378,537

Fundraising Expenses $91,675

Program Expenses $1,738,416

Other Expenses $1,543,182

TOTAL EXPENSES $1,941,633

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,523,390	$1,795,275	+0.4%
Expenses	$1,941,633	$2,018,894	0.0%
Net Income	$581,757	$-223,619	-3.6%

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

$186,690

Total Directors

$174,690

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BART FRIEDMAN	CHAIR (UNTIL 12/20)	1.00	Officer Director	$0	$0	$0
STEPHEN KROLL REIDY	CHAIR (AS OF 12/20)	1.00	Officer Director	$0	$0	$0
STUART COLEMAN	TREASURER	1.00	Officer Director	$0	$0	$0
CAROLINE CRONSON	SECRETARY	40.00	Officer Director	$0	$0	$0
RICHARD ARMSTRONG LEFT 531	DIRECTOR	1.00	Director	$0	$0	$0
LUCY DOBRIN	DIRECTOR	1.00	Director	$0	$0	$0
ADAM FLATTO	DIRECTOR	1.00	Director	$0	$0	$0
VIRGINA JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
ISAAC MIZRAHI	DIRECTOR	1.00	Director	$0	$0	$0
MICHELE PESNER	DIRECTOR	1.00	Director	$0	$0	$0
CYNTHIA HAZEN POLSKY LEFT 1022	DIRECTOR	1.00	Director	$0	$0	$0
DENISE SAUL	DIRECTOR	1.00	Director	$0	$0	$0
ELIZABETH SHARP EDENS	DIRECTOR	1.00	Director	$0	$0	$0
ANNALYN SWAN	DIRECTOR	1.00	Director	$0	$0	$0
MARIET WESTERMANN	DIRECTOR	1.00	Director	$0	$0	$0
SHELBY WHITE	DIRECTOR	1.00	Director	$0	$0	$0
DUKE DANG	EXECUTIVE DIRECTOR	40.00	Officer Director	$160,000	$14,690	$174,690
ROBERT MAYER	CFO	10.00	Officer	$12,000	$0	$12,000

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	$2,523,390	$1,941,633	$3,200,761	$581,757
2023	$1,795,275	$2,018,894	$2,624,190	$-223,619
2022	$1,635,046	$1,958,840	$2,520,947	$-323,794
2021	$2,214,959	$1,414,395	$3,110,352	$800,564
2020	$2,020,283	$1,037,901	$2,366,078	$982,382
2019	$1,540,617	$1,467,745	$1,360,299	$72,872
2018	$1,625,742	$1,420,320	$1,184,632	$205,422