TOPAZ ARTS INC (EIN 134137551) - 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

2000

Legal Domicile

Principal Officer

PAZ TANJUAQUIO

Phone

7185050440

Tax Period

2023-07-01 to 2024-06-30

TOPAZ ARTS INC, founded in 2000, is a small nonprofit in the Education sector that reported $210K in total revenue in fiscal year 2023. Revenue decreased 19% compared to the prior year. Expenses of $269K exceeded revenue, resulting in a 28% operating deficit.

Mission

TOPAZ ARTS FOSTERS THE CREATIVE PROCESS, ENCOURAGING NEW WORKS OF DIVERSE ARTISTS AND PROVIDES PUBLIC PROGRAMS FOR CONTEMPORARY PERFORMING AND VISUAL ARTS. MAINTAINING A 2,500 SQ. FE. MULTIDISCIPLINARY ARTS CENTER IN WOODSIDE, QUEENS WHICH INCLUDES A DANCE REHEARSAL STUDIO AND GALLERY, TOPAZ ARTS PROVIDES AFFORDABLE SPACE, TECHNICAL SUPPORT, RESIDENCIES AND PRESENTATION OPPORTUNITIES, ENABLING ARTISTS TO REALIZE THEIR PROJECTS AND THE PROCESS SHARED WITH AUDIENCES.

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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 $189,333

Program Service Revenue $17,192

Investment Income $836

Other Revenue $2,376

TOTAL REVENUE $209,737

Expense Breakdown

Grants Paid $0

Salaries & Benefits $169,431

Fundraising Expenses $15,116

Program Expenses $224,212

Other Expenses $99,361

TOTAL EXPENSES $268,792

Year-over-Year Comparison

	2023	2022	Change
Revenue	$209,737	$259,923	-0.2%
Expenses	$268,792	$219,169	+0.2%
Net Income	$-59,055	$40,754	-2.4%

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

N/A

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

$140,874

Total Directors

$140,874

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TODD B RICHMOND	PRESIDENT	40.00	Officer Director	$60,000	$10,437	$70,437
PAZ TANJUAQUIO	VICE PRESIDENT/TREASURER	40.00	Officer Director	$60,000	$10,437	$70,437
MICHELE C QUINN	CHAIRPERSON	1.00	Director	$0	$0	$0
LUIS H FRANCIA	SECRETARY	1.00	Director	$0	$0	$0
NATALIE D STANFORD	BOARD MEMBER	1.00	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	$209,737	$268,792	$502,318	$-59,055
2023	$259,923	$219,169	$560,107	$40,754
2022	$389,946	$149,916	$513,195	$240,030

TOPAZ ARTS INC