CENTER FOR INITIATIVES IN ART & CU… - 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

2006

Legal Domicile

Principal Officer

LISA KOENIGSBERG

Phone

6464851952

Tax Period

2023-01-01 to 2023-12-31

CENTER FOR INITIATIVES IN ART & CULTURE INC, founded in 2006, is a small nonprofit in the Arts, Culture & Humanities sector that reported $172K in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

CENTER FOR INITIATIVES IN ART & CULTURE, INC.(IAC) PROVIDES EDUCATIONAL SERVICES IN THE FINE, DECORATIVE, AND VISUAL ARTS AS WELL AS ARCHITECTURE. IAC'S PRIMARY ACTIVITIES ARE EDUCATIONAL CONFERENCES AND SYMPOSIA, PUBLICATIONS, AND EXHIBITIONS. THE SERVICES PROVIDED BY IAC ARE INTENDED TO ADVANCE AND ENHANCE KNOWLEDGE WITHIN THE TARGETED AUDIENCES REGARDING THE ARTS & ARCHITECTURE, BY ADOPTING AN INTERDISCIPLINARY APPROACH THAT INVESTIGATES, AMONG OTHER ISSUES, SOCIAL HISTORY AND MATERIAL CULTURE; THE LIFE AND WORK OF SPECIFIC ARTISTS, ARCHITECTS AND CRAFTSPEOPLE WORKING IN A WIDE VARIETY OF MEDIA; FABRICATION METHODS, CONSERVATION TECHNIQUES AND THE EFFECT OF TECHNOLOGY; AND CONNOISSEURSHIP. THE LARGER OBJECTIVE IS THE PRESERVATION AND PROTECTION OF CULTURAL RESOURCES & CULTURAL PATRIMONY.THE EDUCATIONAL SERVICES OF IAC WILL BENEFIT THE COMMUNITY BY PROVIDING NEW AND ENHANCED SKILLS AND KNOWLEDGE TO THE TARGET AUDIENCES.

Program Service Accomplishments

Program 1

Expenses: $46,988 Revenue: $74,042

AMERICAN ART

Program 2

Expenses: $82,474 Revenue: $87,544

ARTS & CRAFTS

Program 3

Expenses: $29,051 Revenue: $2,500

WEBINARS

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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 $171,582

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $171,582

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $4,373

Program Expenses $158,513

Other Expenses $182,350

TOTAL EXPENSES $182,350

Year-over-Year Comparison

	2023	2022	Change
Revenue	$171,582	$155,774	+0.1%
Expenses	$182,350	$149,788	+0.2%
Net Income	$-10,768	$5,986	-2.8%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LISA KOENIGSBERG	PRESIDENT	35.00	Officer Director	$0	$0	$0
DAVID L BECKER	SECRETARY	2.00	Officer Director	$0	$0	$0
CAROL SPERO	TREASURER	2.00	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
2024	No data	No data	No data	No data
2023	$171,582	$182,350	$26,835	$-10,768
2022	$155,774	$149,788	$27,076	$5,986
2021	$160,411	$184,996	$20,368	$-24,585
2020	$122,018	$97,464	$45,693	$24,554
2019	$214,084	$197,898	$23,288	$16,186
2018	$178,238	$171,421	$4,519	$6,817

CENTER FOR INITIATIVES IN ART & CULTURE INC