GARRETT MAIN STREET INC

EIN: 203129368 501(c)(3) Arts, Culture & Humanities

GARRETT, IN

Total Revenue
$92,496
Total Expenses
$130,464
Total Assets
$783,525
Net Assets
$783,525
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2006
Legal Domicile
IN
Principal Officer
JAMES GABBARD
Tax Period
2021-07-01 to 2022-06-30

GARRETT MAIN STREET INC, founded in 2006, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $92K in total revenue in fiscal year 2021. Expenses of $130K exceeded revenue, resulting in a 41% operating deficit.

Mission

THE PRIMARY FOCUS OF THE GARRETT MUSEUM OF ART IS TO PROVIDE A SPACE FOR EDUCATION, ENRICHMENT, AND RECOGNITION OF THE VISUAL ARTS INHERENT TO THE LOCAL COMMUNITY AND ITS SURROUNDING AREA.

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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%)

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Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $47,600
Program Service Revenue $44,896
Investment Income $0
Other Revenue $0
TOTAL REVENUE $92,496

Expense Breakdown

Grants Paid $0
Salaries & Benefits $65,040
Fundraising Expenses $0
Program Expenses $130,464
Other Expenses $65,424
TOTAL EXPENSES $130,464

Year-over-Year Comparison

2021 2020 Change
Revenue $92,496 N/A N/A
Expenses $130,464 $936 +138.4%
Net Income $-37,968 $-936 +39.6%
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

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Governance

Voting Members
7
Independent Members
7
Employees
5
Volunteers
N/A

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
4
$27,680
Total Directors
4
$27,680
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAMES GABBARD EXECUTIVE DI 20.00
Officer Director
$27,680 $0 $27,680
MARK FOGT TREASURER N/A
Officer Director
$0 $0 $0
MARK OBER PRESIDENT N/A
Officer Director
$0 $0 $0
CARLA SMITH SECRETARY N/A
Officer 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
2022 $92,496 $130,464 $783,525 $-37,968
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