HARLEM NEEDLE ARTS INC

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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

2005

Legal Domicile

Principal Officer

MICHELLE BISHOP

Tax Period

2023-01-01 to 2023-12-31

HARLEM NEEDLE ARTS INC, founded in 2005, is a small nonprofit in the Arts, Culture & Humanities sector that reported $220K in total revenue in fiscal year 2023. Expenses of $210K left a modest 5% surplus.

Mission

Preserve the Narrative of Needle Arts

Program Service Accomplishments

Program 1

Expenses: $81,900

Four months of art and cultural programming for Harlem Seniors. Collaborated with The Africa Center; American Folk Art Museum; Harlem Y; DOT and DOE to host 40 workshops, 4 virtual talk series and 36...

Program 2

Expenses: $75,900

Maintained the donated gallery storefront and creative space for workshops, exhibits, residencies, and showcases. Produced info video.

Program 3

Expenses: $50,464

Hosted Business of Textile Art conference with 10 virtual sessions; provided individual technical supportto artists. Residencies and provided workspace facility for 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 $220,330

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $220,330

Expense Breakdown

Grants Paid $0

Salaries & Benefits $54,961

Fundraising Expenses $0

Program Expenses $208,264

Other Expenses $155,303

TOTAL EXPENSES $210,264

Year-over-Year Comparison

	2023	2022	Change
Revenue	$220,330	N/A	N/A
Expenses	$210,264	N/A	N/A
Net Income	$10,066	N/A	N/A

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

N/A

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
GREG MAYS	MEMBER	5.00	Director	$0	$0	$0
LISA SHEPARD STEWART	SECRETARY	2.00	Officer	$0	$0	$0
GAIL EDWARDS	TREASURER	3.00	Officer	$0	$0	$0
MICHELLE BISHOP	EXECUTIVE DIRECTOR	45.00	Officer	$0	$0	$0
VALERIE SALLEY WASHINGTON	PRESIDENT	2.00	Officer	$0	$0	$0
CARLA TIMM	VICE PRESIDENT	2.00	Officer	$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	$220,330	$210,264	$27,675	$10,066