NEWARK ARTS COUNCIL (EIN 222412819) - 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

1981

Legal Domicile

Principal Officer

LAUREN CRAIG

Phone

9736431625

Tax Period

2023-07-01 to 2024-06-30

NEWARK ARTS COUNCIL, founded in 1981, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2023. Revenue fell 45% from the prior year — a significant decline worth monitoring. Expenses of $1.7M exceeded revenue, resulting in a 47% operating deficit.

Mission

NEWARK ARTS' MISSION IS TO POWER THE ARTS TO TRANSFORM THE LIVES OF THOSE WHO LIVE IN, WORK IN, AND VISIT NEWARK.

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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 $1,122,434

Program Service Revenue $45,583

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,168,017

Expense Breakdown

Grants Paid $286,005

Salaries & Benefits $758,425

Fundraising Expenses $121,230

Program Expenses $1,400,322

Other Expenses $667,153

TOTAL EXPENSES $1,711,583

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,168,017	$2,135,228	-0.5%
Expenses	$1,711,583	$2,399,074	-0.3%
Net Income	$-543,566	$-263,846	+1.1%

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

$214,467

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
REGINALD NOBLE	BOARD MEMBER	2.00	Director	$0	$0	$0
MARCY S DEPINA	PRESIDENT	2.00	Officer Director	$0	$0	$0
SAMER HANINI	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
NICOLE WHALEN	TREASURER	2.00	Officer Director	$0	$0	$0
ONOME N ADEJEMILUA	SECRETARY	2.00	Officer Director	$0	$0	$0
KIM A COOK	BOARD MEMBER	2.00	Director	$0	$0	$0
ANDREW COOMBS	BOARD MEMBER	2.00	Director	$0	$0	$0
RICHARD GROSSKLAUS	BOARD MEMBER	2.00	Director	$0	$0	$0
DONNA WALKER-KUHNE	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
DUPRE KELLY	BOARD MEMBER	2.00	Director	$0	$0	$0
MANUEL J ANTUNES	BOARD MEMBER	2.00	Director	$0	$0	$0
CHISA B HUTCHINSON	BOARD MEMBER	2.00	Director	$0	$0	$0
RYAN A MONROE	BOARD MEMBER	2.00	Director	$0	$0	$0
KITAB I ROLLINS	BOARD MEMBER	2.00	Director	$0	$0	$0
JOSEPH LEE	BOARD MEMBER	2.00	Director	$0	$0	$0
REGINA BARBOZA	DIRECTOR OF DEVELOPMENT AN	40.00	Officer	$97,704	$9,623	$107,327
LAUREN CRAIG	EXECUTIVE DIRECTOR	40.00	Officer	$101,610	$5,530	$107,140

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	$1,168,017	$1,711,583	$731,914	$-543,566
2023	$2,135,228	$2,399,074	$1,337,089	$-263,846
2021	$2,660,381	$2,417,680	$1,947,360	$242,701
2020	$2,267,281	$2,196,908	$1,457,684	$70,373
2019	$1,599,547	$1,357,817	$647,759	$241,730
2018	$1,533,465	$1,440,376	$360,259	$93,089

NEWARK ARTS COUNCIL