BURCHFIELD PENNEY ART CENTER (EIN 161596245) - 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

2001

Legal Domicile

Principal Officer

JANET WETTER

Phone

7168786120

Tax Period

2023-07-01 to 2024-06-30

BURCHFIELD PENNEY ART CENTER, founded in 2001, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.9M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $3.4M exceeded revenue, resulting in a 17% operating deficit.

Mission

TO OPERATE A MUSEUM DEDICATED TO THE ART AND VISION OF CHARLES E. BURCHFIELD AND DISTINGUISHED ARTISTS OF BUFFALO, NIAGARA, AND WESTERN NEW YORK.

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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 $1,674,766

Program Service Revenue $322,265

Investment Income $489,169

Other Revenue $393,683

TOTAL REVENUE $2,879,883

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,601,691

Fundraising Expenses $454,257

Program Expenses $2,283,858

Other Expenses $1,775,783

TOTAL EXPENSES $3,377,474

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,879,883	$2,649,430	+0.1%
Expenses	$3,377,474	$2,725,207	+0.2%
Net Income	$-497,591	$-75,777	+5.6%

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

130

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

$333,044

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JANET WETTER	CHAIR PERSON	15.00	Officer Director	$0	$0	$0
LYNN STIEVATER	TREASURER	9.00	Officer Director	$0	$0	$0
MARY JO HUNT	SECRETARY	9.00	Officer Director	$0	$0	$0
GREG HYATT	VICE-CHAIRMAN	9.00	Officer Director	$0	$0	$0
STEVE LAKOMY MD	VICE-CHAIRMAN	9.00	Officer Director	$0	$0	$0
RACHEL STENCLIK	VICE-CHAIRMAN	9.00	Officer Director	$0	$0	$0
RAMONE ALEXANDER MD	DIRECTOR	5.00	Director	$0	$0	$0
STACY LEWIS BEAUFORD	DIRECTOR	5.00	Director	$0	$0	$0
CYNTHIA CIMINELLI	DIRECTOR	5.00	Director	$0	$0	$0
BILL COLLINS	DIRECTOR	5.00	Director	$0	$0	$0
PHILLIP DABNEY	DIRECTOR	5.00	Director	$0	$0	$0
JOHN DARBY	DIRECTOR	5.00	Director	$0	$0	$0
BONITA R DURAND PHD INTERIM-PRESID	DIRECTOR	5.00	Director	$0	$0	$0
REENA DUTTA	DIRECTOR	5.00	Director	$0	$0	$0
LYNNE MARIE FINN	DIRECTOR	5.00	Director	$0	$0	$0
MARK GAULIN	DIRECTOR	5.00	Director	$0	$0	$0
SCOTT GOLDMAN DMD	DIRECTOR	5.00	Director	$0	$0	$0
MARGARET KAISER	DIRECTOR	5.00	Director	$0	$0	$0
FRANCESCO LAGUTAINE	DIRECTOR	5.00	Director	$0	$0	$0
LINDA MAGGIO	DIRECTOR	5.00	Director	$0	$0	$0
FRANK MENDICINO	DIRECTOR	5.00	Director	$0	$0	$0
MARK NOTARIUS	DIRECTOR	5.00	Director	$0	$0	$0
GINA O'NEILL	DIRECTOR	5.00	Director	$0	$0	$0
NIREL PATEL	DIRECTOR	5.00	Director	$0	$0	$0
ODIE PORTER	DIRECTOR	5.00	Director	$0	$0	$0
ZACHARY SCHNEIDER	DIRECTOR	5.00	Director	$0	$0	$0
CYNTHIA BAIRD STARK	DIRECTOR	5.00	Director	$0	$0	$0
PATTI THOMAS	DIRECTOR	5.00	Director	$0	$0	$0
AMITRA A WALL PHD INTERIM-PROVOST	DIRECTOR	5.00	Director	$0	$0	$0
SCOTT PROPEACK	EXECUTIVE DIRECTOR	45.00	Officer	$79,191	$24,422	$240,260
JOSEPH DEPAOLO	FINANCE MANAGER	45.00	Officer	$90,965	$1,819	$92,784

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	$2,879,883	$3,377,474	$20,387,119	$-497,591
2023	$2,649,430	$2,725,207	$18,468,789	$-75,777
2022	$2,585,674	$2,441,893	$16,998,850	$143,781
2021	$2,294,685	$1,831,034	$19,454,422	$463,651

BURCHFIELD PENNEY ART CENTER