BUFFALO ARTS STUDIO

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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

1995

Legal Domicile

Principal Officer

ALMA CARRILLO

Phone

7168334450

Tax Period

2024-07-01 to 2025-06-30

BUFFALO ARTS STUDIO, founded in 1995, is a small nonprofit in the Arts, Culture & Humanities sector that reported $812K in total revenue in fiscal year 2024. The organization ran a surplus of $199K, a strong 25% operating margin.

Mission

TO PROVIDE AFFORDABLE STUDIO SPACE AND REGULAR PUBLIC EXPOSURE FOR REGIONAL, NATIONAL AND INTERNATIONAL ARTISTS THROUGH EXHIBITIONS, AND TO ENRICH THE COMMUNITY WITH ART CLASSES, MURAL PROGRAMS, AND PUBLIC ART. EXHIBITIONS, PUBLIC ART AND CLASSES HELP THE STUDIO SERVE AS A CULTUTAL CENTER.

Program Service Accomplishments

Program 1

Expenses: $297,722 Revenue: $91,300

BUFFALO ARTS STUDIO (BAS) SUBSIDIZES STUDIO SPACE FOR UNDER-REPRESENTED AND EMERGING ARTISTS. RENT AND UTILITIES ARE OUR LARGEST EXPENSE IN THE ARTISTS' STUDIO PROGRAM. BUFFALO ARTS STUDIO PRESENTS EMERGING REGIONAL, NATIONAL AND INTERNATIONAL ARTISTS IN BOTH SOLO AND GROUP EXHIBITIONS EACH YEAR. BAS STAFF SELECT ARTISTS FROM A PUBLIC CALL, INSTALL EXHIBITIONS, DEVELOP INVITATIONS AND ALL PRESS RELEASES, WRITE CATALOGS AND UNINSTALL EXHIBITS. ARTISTS ARE PROVIDED WITH SHIPPING FEES, TRAVEL FEES, AND A SMALL HONORARIUM. THE EXHIBITION PROGRAM HAS A BALANCE OF EXPENSES RANGING FROM ARTISTS COSTS, STAFFING, TO RENT AND UTILITIES. ALSO INCLUDED IS A GIFT SHOP TO FURTHER PROMOTE THE ARTISTS' WORK.

Program 2

Expenses: $175,903 Revenue: $103,010

PROJECT CREATE EDUCATION PROGRAM PROVIDES PROFESSIONAL ARTS TRAINING TO LOW INCOME YOUTH, ADULTS AND EMERGING PROFESSIONAL ARTISTS. STUDENTS AND YOUNG ADULTS ARE MENTORED THROUGH COLLEGE. BAS...

PROJECT CREATE EDUCATION PROGRAM PROVIDES PROFESSIONAL ARTS TRAINING TO LOW INCOME YOUTH, ADULTS AND EMERGING PROFESSIONAL ARTISTS. STUDENTS AND YOUNG ADULTS ARE MENTORED THROUGH COLLEGE. BAS PROVIDES INSTRUCTORS WHO ARE FOREMOST IN THEIR FIELD,INCLUDING ARTISTS, COLLEGE PROFESSORS, AND HIGH SCHOOL ART TEACHERS FROM THE REGION. COURSES RANGE FROM DRAWING, CERAMICS, PAINTING, PHOTOGRAPHY, PRINTMAKING, VIDEO MEDIA ARTS, AND PORTFOLIO DEVELOPMENT. ALL MATERIALS ARE PROVIDED THROUGHOUT THE YEAR. FULLY EQUIPPED CLASSROOMS FOR PAINTING,DRAWING AND MIX MEDIA,A CERAMIC STUDIO WITH 9 WHEELS AND KILN ROOM, COMPUTER STATION WITH PRINTER, AND PROJECTORS ALL AVAILABLE FOR STUDENTS' USAGE. THE LARGEST COSTS FOR THE EDUCATION PROGRAM ARE TEACHING FEES, STAFFING, RENT AND UTILITIES.

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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 $414,277

Program Service Revenue $217,893

Investment Income $30,345

Other Revenue $149,819

TOTAL REVENUE $812,334

Expense Breakdown

Grants Paid $0

Salaries & Benefits $336,976

Fundraising Expenses $27,542

Program Expenses $473,625

Other Expenses $275,915

TOTAL EXPENSES $612,891

Year-over-Year Comparison

	2024	2023	Change
Revenue	$812,334	$827,833	0.0%
Expenses	$612,891	$637,782	0.0%
Net Income	$199,443	$190,051	+0.0%

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

450

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

Total Directors

$79,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALMA CARRILLO	EXECUTIVE DI	40.00	Director	$79,000	$0	$79,000
LESLIE HOFFMAN	TREASURER	2.00	Officer Director	$0	$0	$0
MARK KWANDRANS	PRESIDENT	2.00	Officer Director	$0	$0	$0
QUNIESHA BALLARD	SECRETARY	2.00	Officer Director	$0	$0	$0
MICHELE AGOSTO	BOARD MEMBER	1.00	Director	$0	$0	$0
MADELINE BARTLEY	BOARD MEMBER	1.00	Director	$0	$0	$0
JONATHON COX	BOARD MEMBER	1.00	Director	$0	$0	$0
JENNIFER KAMINSKI	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES LENKER	BOARD MEMBER	1.00	Director	$0	$0	$0
BRUCE SUPERNAULT	BOARD MEMBER	1.00	Director	$0	$0	$0
ERIN KEARNY	VICE PRESIDE	2.00	Officer Director	$0	$0	$0
SHANNON L JOHNSON	BOARD MEMBER	1.00	Director	$0	$0	$0
JESSICA SMITH	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL CONTA	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	$812,334	$612,891	$1,242,189	$199,443
2024	$827,833	$637,782	$1,089,227	$190,051
2023	$702,035	$588,393	$975,161	$113,642
2022	$541,135	$411,772	$747,924	$129,363
2021	$419,260	$295,603	$643,941	$123,657
2020	$480,162	$304,930	$513,747	$175,232
2019	$360,030	$303,637	$314,093	$56,393