CENTER FOR THE ARTS AT ITHACA INC (EIN 160902355) - 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

1964

Legal Domicile

Principal Officer

NICHOLE GANTSHAR

Phone

6072738588

Tax Period

2024-01-01 to 2024-12-31

CENTER FOR THE ARTS AT ITHACA INC, founded in 1964, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.2M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $1.1M left a modest 9% surplus.

Mission

A COMMITMENT TO PROVIDE EXCEPTIONAL THEATRE EXPERIENCES OF HIGH PROFESSIONAL QUALITY TO ENRICH, ENLIGHTEN, EDUCATE, AND ENTERTAIN THE DIVERSE AUDIENCE IN THE FINGER LAKES REGION AND BEYOND. STRONG EDUCATION AND TRAINING PROGRAMS ARE CENTRAL PARTS OF OUR COMMITMENT TO THE LOCAL AND NATIONAL ARTISTIC COMMUNITIES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $664,729

Program Service Revenue $485,364

Investment Income $86

Other Revenue $89,742

TOTAL REVENUE $1,239,921

Expense Breakdown

Grants Paid $0

Salaries & Benefits $666,477

Fundraising Expenses $57,235

Program Expenses $729,226

Other Expenses $463,499

TOTAL EXPENSES $1,129,976

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,239,921	$1,103,414	+0.1%
Expenses	$1,129,976	$1,156,648	0.0%
Net Income	$109,945	$-53,234	-3.1%

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

123

Volunteers

100

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

$85,768

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BERNADETTE PARR	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
DANA MUELLER	TRUSTEE	1.00	Director	$0	$0	$0
DAVINA DESNOES	TRUSTEE	1.00	Director	$0	$0	$0
KATHERINE GOULD	TRUSTEE	1.00	Director	$0	$0	$0
LIDDY ALLEE	TRUSTEE/SECRETARY (PART YEAR)	1.00	Officer Director	$0	$0	$0
LIEBE MEIER SWAIN	CO-PRESIDENT	1.00	Officer Director	$0	$0	$0
MIKE ALESSIO	TRUSTEE	1.00	Director	$0	$0	$0
MIKHAIL O'LAUGHLIN	TREASURER	1.00	Officer Director	$0	$0	$0
NICHOLE GANTSHAR	CO-PRESIDENT	4.00	Officer Director	$0	$0	$0
SCOTT PESNER	TRUSTEE	1.00	Director	$0	$0	$0
ALFRED BUTLER	CFO/CONTROLLER	25.00	Officer	$6,001	$0	$6,001
SHIRLEY SEROTSKY	CEO	40.00	Officer	$62,329	$17,438	$79,767

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	$1,239,921	$1,129,976	$2,588,467	$109,945
2023	$1,103,414	$1,156,648	$2,645,445	$-53,234
2022	$1,461,810	$1,696,148	$2,736,291	$-234,338
2021	$1,588,603	$1,511,351	$2,324,177	$77,252
2020	$807,081	$747,885	$2,473,316	$59,196
2019	$1,567,471	$1,833,873	$2,518,793	$-266,402
2018	$1,590,661	$1,727,896	$2,725,727	$-137,235

CENTER FOR THE ARTS AT ITHACA INC