SEVENTH ART CORPORATION OF ITHACA (EIN 161596844) - 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

DON RAKOW

Phone

6076595159

Tax Period

2023-01-01 to 2023-12-31

SEVENTH ART CORPORATION OF ITHACA, founded in 2000, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.1M in total revenue in fiscal year 2023. Revenue surged 60% from the prior year, signaling strong growth momentum. Expenses of $924K left a modest 13% surplus.

Mission

TO ENCOURAGE CENTRAL NEW YORK RESIDENTS TO EXPLORE THE POWER OF FILM TO ENTERTAIN, EDUCATE, AND TO CELEBRATE THE HUMAN EXPERIENCE.

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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 $383,935

Program Service Revenue $560,882

Investment Income $39

Other Revenue $120,434

TOTAL REVENUE $1,065,290

Expense Breakdown

Grants Paid $0

Salaries & Benefits $294,699

Fundraising Expenses $0

Program Expenses $768,383

Other Expenses $629,117

TOTAL EXPENSES $923,816

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,065,290	$665,111	+0.6%
Expenses	$923,816	$945,621	0.0%
Net Income	$141,474	$-280,510	-1.5%

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

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

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

$62,500

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CAROL BUSHBERG	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS SHEVORY	SECRETARY	1.00	Officer Director	$0	$0	$0
SUE PERLGUT	VICE CHAIR	1.00	Officer Director	$0	$0	$0
CARLA MCKAIN	DIRECTOR	1.00	Director	$0	$0	$0
RAZA RUMI AHMAD	DIRECTOR (PART YEAR)	1.00	Director	$0	$0	$0
PATRICIA ZIMMERMANN	DIRECTOR (PART YEAR)	1.00	Director	$0	$0	$0
JODI COHEN	DIRECTOR	1.00	Director	$0	$0	$0
MARSHALL HOPKINS	DIRECTOR	1.00	Director	$0	$0	$0
ENID LITTMAN	VICE CHAIR	1.00	Officer Director	$0	$0	$0
ENRIQUE GONZALES-CONTY	DIRECTOR	1.00	Director	$0	$0	$0
KARINNA BROWNING	DIRECTOR	1.00	Director	$0	$0	$0
DAVID SQUIRES	TREASURER	1.00	Officer Director	$0	$0	$0
ERIC KOFI ACREE	DIRECTOR	1.00	Director	$0	$0	$0
KATE DONOHUE	EXECUTIVE DIRECTOR	40.00	Officer	$62,500	$0	$62,500

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	$1,065,290	$923,816	$539,550	$141,474
2022	$665,111	$945,621	$589,994	$-280,510
2021	$951,045	$662,658	$614,545	$288,387
2020	$545,259	$691,609	$312,426	$-146,350
2019	$977,906	$983,979	$464,153	$-6,073
2018	$1,120,619	$1,037,657	$482,438	$82,962

SEVENTH ART CORPORATION OF ITHACA