THE MILLAY COLONY FOR THE ARTS INC

EIN: 141556850 501(c)(3)

AUSTERLITZ, NY

Total Revenue
$290,507
Total Expenses
$429,788
Total Assets
$710,286
Net Assets
$567,033
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1973
Legal Domicile
NY
Principal Officer
BJORN THORSTAD
Phone
5183924144
Tax Period
2023-01-01 to 2023-12-31

THE MILLAY COLONY FOR THE ARTS INC, founded in 1973, is a small nonprofit that reported $291K in total revenue in fiscal year 2023. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $430K exceeded revenue, resulting in a 48% operating deficit.

Mission

IT IS THE MISSION OF THE MILLAY COLONY FOR THE ARTS (THE COLONY) TO PROVIDE SUPPORT INCLUDING TIME AND SPACE TO MULTIDISCIPLINARY ARTISTS TO CREATE WORKS THAT WOULD OTHERWISE BE REALIZED; COMMUNITY PROGRAMS INCLUDING ARTS EDUCATION IN SCHOOLS AND PUBLIC PROFESSIONAL DEVELOPMENT WORKSHOPS. ARTISTS WHO COME TO THE COLONY ARE CHOSEN BASED ON THEIR TALENT BY A PANEL OF DISTINGUISHED ARTISTS IN THE APPLICANTS' FIELD.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $102,148
Program Service Revenue $153,752
Investment Income $34,607
Other Revenue $0
TOTAL REVENUE $290,507

Expense Breakdown

Grants Paid $0
Salaries & Benefits $164,538
Fundraising Expenses $71,744
Program Expenses $234,488
Other Expenses $265,250
TOTAL EXPENSES $429,788

Year-over-Year Comparison

2023 2022 Change
Revenue $290,507 $229,629 +0.3%
Expenses $429,788 $322,944 +0.3%
Net Income $-139,281 $-93,315 +0.5%
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

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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
10
Independent Members
10
Employees
3
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
3
$0
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SCOTT ANDERSON MEMBER N/A
Director
$0 $0 $0
KATHARINE DUFAULT MEMBER N/A
Director
$0 $0 $0
WHITNEY LAWSON SECRETARY N/A
Officer Director
$0 $0 $0
PILAR MEJIA-BARRERA MEMBER N/A
Director
$0 $0 $0
BETSY ROSENFIELD SAMET MEMBER N/A
Director
$0 $0 $0
VIRGINIA SHERIDAN MEMBER N/A
Director
$0 $0 $0
MELISSA SLOTNICK MEMBER N/A
Director
$0 $0 $0
LAWRE STONE MEMBER N/A
Director
$0 $0 $0
BJORN THORSTAD PRESIDENT & N/A
Officer
$0 $0 $0
ABIGAIL TOVELL VICE PRESIDE N/A
Officer
$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
2024 No data No data No data No data
2023 $290,507 $429,788 $710,286 $-139,281
2022 $229,629 $322,944 $838,115 $-93,315
2021 $333,807 $314,103 $984,327 $19,704
2020 $214,546 $219,625 $928,095 $-5,079
2019 $239,200 $257,845 $775,908 $-18,645
2018 $213,841 $332,346 $785,606 $-118,505
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