516 Arts (EIN 208540744) - 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

April Chalay

Phone

5052421445

Tax Period

2024-01-01 to 2024-12-31

516 Arts, founded in 2006, is a small nonprofit in the Arts, Culture & Humanities sector that reported $384K in total revenue in fiscal year 2024. Revenue fell 28% from the prior year — a significant decline worth monitoring. Expenses of $728K exceeded revenue, resulting in a 89% operating deficit.

Mission

516 ARTS forges connections between art and audiences by being an active partner in developing the cultural landscape of Albuquerque and New Mexico. 516 ARTS offers programs inspiring curiosity, dialogue, risk-taking and creative experimentation.

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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 (2024)

Revenue Breakdown

Contributions & Grants $221,397

Program Service Revenue $172,518

Investment Income $0

Other Revenue $-9,940

TOTAL REVENUE $383,975

Expense Breakdown

Grants Paid $55,565

Salaries & Benefits $350,052

Fundraising Expenses $70,033

Program Expenses $481,606

Other Expenses $310,139

TOTAL EXPENSES $727,576

Year-over-Year Comparison

	2024	2023	Change
Revenue	$383,975	$535,013	-0.3%
Expenses	$727,576	$715,709	+0.0%
Net Income	$-343,601	$-180,696	+0.9%

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

$91,220

Total Directors

$91,220

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
April Chalay	President/ED	40.00	Officer Director	$81,326	$9,894	$91,220
Tim Price	Chair	1.00	Officer Director	$0	$0	$0
Rebecca Black	Vice President	1.00	Officer Director	$0	$0	$0
Gabriel Castro	Treasurer	1.00	Officer Director	$0	$0	$0
Shawna Brown	Director	1.00	Director	$0	$0	$0
Jon VanGaasbeek	Director	1.00	Director	$0	$0	$0
Danyelle Means	Director	1.00	Director	$0	$0	$0
Adri De la Cruz	Director	1.00	Director	$0	$0	$0
Kathleen Metzger	Past Director	1.00	Director	$0	$0	$0
Pamela Weese Powell	Past Director	1.00	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	$383,975	$727,576	$1,350,672	$-343,601
2023	$535,013	$715,709	$1,687,464	$-180,696
2022	$972,926	$723,501	$1,864,521	$249,425
2021	$779,357	$563,132	$1,783,714	$216,225
2020	$1,678,157	$676,748	$1,413,383	$1,001,409
2019	$573,341	$551,746	$228,012	$21,595
2018	$704,106	$574,797	$212,390	$129,309

516 Arts