FRANKLIN STREET ARTS COLLECTIVE D/… - Form 990 Financial Data

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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

2010

Legal Domicile

Principal Officer

SCOTT MCCONNELL

Phone

9196364135

Tax Period

2023-01-01 to 2023-12-31

FRANKLIN STREET ARTS COLLECTIVE D/B/A FRANK GALLERY, founded in 2010, is a small nonprofit in the Arts, Culture & Humanities sector that reported $267K in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $310K exceeded revenue, resulting in a 16% operating deficit.

Mission

FRANK GALLERY IS A CONTEMPORARY FINE ARTS GALLERY, FEATURING WORK BY TRIANGLE AREA ARTISTS AND ENRICHING OUR COMMUNITY THROUGH EXHIBITIONS, EVENTS, AND ARTS EDUCATION.

Program Service Accomplishments

Program 1

Expenses: $279,802 Revenue: $210,028

DISPLAYING, SELLING AND PROMOTING THE WORK OF GALLERY ARTISTS.

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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 $16,262

Program Service Revenue $210,024

Investment Income $4

Other Revenue $41,129

TOTAL REVENUE $267,419

Expense Breakdown

Grants Paid $0

Salaries & Benefits $53,825

Fundraising Expenses $8,485

Program Expenses $279,802

Other Expenses $255,943

TOTAL EXPENSES $309,768

Year-over-Year Comparison

	2023	2022	Change
Revenue	$267,419	$245,522	+0.1%
Expenses	$309,768	$240,369	+0.3%
Net Income	$-42,349	$5,153	-9.2%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NEIL BLUMENKOPF	BOARD MEMBER	3.00	Director	$0	$0	$0
TOVA HAIRSTON	BOARD MEMBER	3.00	Director	$0	$0	$0
MIKE KEYES	VICE CHAIR	3.00	Officer Director	$0	$0	$0
DANNY BELL	BOARD MEMBER	3.00	Director	$0	$0	$0
SCOTT HORNER	BOARD MEMBER	3.00	Director	$0	$0	$0
GORDON JAMESON	BOARD MEMBER	3.00	Director	$0	$0	$0
DONNA STUBBS	MEMBERSHIP CHAIR	3.00	Officer Director	$0	$0	$0
CARROLL LASSITER	BOARD MEMBER	3.00	Director	$0	$0	$0
SCOTT MCCONNELL	TREASURER	3.00	Officer Director	$0	$0	$0
LUNA LEE RAY	BOARD MEMBER	3.00	Director	$0	$0	$0
JEREMY HOWELL	SECRETARY	3.00	Officer Director	$0	$0	$0
GABRIELLE ROUSSO	BOARD CHAIR	3.00	Officer Director	$0	$0	$0
CAROL RETSCH-BOGART	BOARD MEMBER	3.00	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
2024	No data	No data	No data	No data
2023	$267,419	$309,768	$102,801	$-42,349
2022	$245,522	$240,369	$154,545	$5,153
2021	$278,145	$237,184	$143,354	$40,961
2020	$196,430	$179,913	$92,705	$16,517
2019	$218,301	$205,080	$81,930	$13,221
2018	$219,282	$199,708	$61,266	$19,574

FRANKLIN STREET ARTS COLLECTIVE D/B/A FRANK GALLERY