THE STUDIOS OF KEY WEST (EIN 205116495) - 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

2006

Legal Domicile

Principal Officer

JOHN E DODDS

Phone

3052960458

Tax Period

2022-07-01 to 2023-06-30

THE STUDIOS OF KEY WEST, founded in 2006, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.7M in total revenue in fiscal year 2022. Revenue decreased 16% compared to the prior year. Expenses of $2.5M left a modest 9% surplus.

Mission

TO SUPPORT THE ROLE OF ARTISTS, CREATIVE EDUCATORS, AND CULTURAL PRODUCERS IN KEY WEST, FLORIDA.

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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 (2022)

Revenue Breakdown

Contributions & Grants $1,428,992

Program Service Revenue $585,330

Investment Income $168,103

Other Revenue $520,504

TOTAL REVENUE $2,702,929

Expense Breakdown

Grants Paid $0

Salaries & Benefits $993,001

Fundraising Expenses $116,448

Program Expenses $1,951,863

Other Expenses $1,470,895

TOTAL EXPENSES $2,463,896

Year-over-Year Comparison

	2022	2021	Change
Revenue	$2,702,929	$3,206,245	-0.2%
Expenses	$2,463,896	$1,991,357	+0.2%
Net Income	$239,033	$1,214,888	-0.8%

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

Volunteers

100

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

$136,600

Total Directors

$4,248

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD MCCHESNEY	PRESIDENT	10.00	Officer Director	$0	$0	$0
JACKSON KAUFELT	FIRST VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
HARRELL ODOM	SECOND VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
FRANK WORMUTH	TREASURER	2.00	Officer Director	$0	$0	$0
KIM MCGUIRE	SECRETARY	2.00	Officer Director	$0	$0	$0
CAMILA DUKE	MEMBER	2.00	Director	$4,248	$0	$4,248
CHE ANDRE	MEMBER	2.00	Director	$0	$0	$0
SCOTT BURAU	MEMBER	2.00	Director	$0	$0	$0
KENDALL CAMERON	MEMBER	2.00	Director	$0	$0	$0
REDZA DEMPSTER	MEMBER	2.00	Director	$0	$0	$0
EDDUARDO HERRERA	MEMBER	2.00	Director	$0	$0	$0
CHASE HURST	MEMBER	2.00	Director	$0	$0	$0
CHRIS KENT	MEMBER	2.00	Director	$0	$0	$0
LEE MOAK	MEMBER	2.00	Director	$0	$0	$0
ROSI WARE	MEMBER	2.00	Director	$0	$0	$0
JOHN E DODDS	EXECUTIVE DIRECTOR	50.00	Officer	$136,600	$0	$136,600

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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$2,702,929	$2,463,896	$15,249,372	$239,033
2022	$3,206,245	$1,991,357	$14,900,536	$1,214,888
2021	$3,906,460	$1,525,214	$13,984,404	$2,381,246
2020	$4,101,196	$2,041,270	$11,984,355	$2,059,926
2019	$1,775,720	$2,204,828	$8,700,398	$-429,108
2018	$1,846,822	$1,963,380	$9,108,252	$-116,558
2018	$1,846,822	$1,963,380	$9,108,252	$-116,558

THE STUDIOS OF KEY WEST