ARTSPACE INC C/O VERDOLINO & LOWEY… - 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

1984

Legal Domicile

Principal Officer

KARA S RESCIA

Phone

4155773818

Tax Period

2023-07-01 to 2024-06-30

ARTSPACE INC C/O VERDOLINO & LOWEY PC, founded in 1984, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $9K in total revenue in fiscal year 2023. Revenue fell 97% from the prior year — a significant decline worth monitoring. Expenses of $69K exceeded revenue, resulting in a 685% operating deficit.

Mission

ARTSPACE FOSTERS ENGAGEMENT WITH THE VISUAL ARTS BY BRINGING ARTISTS AND COMMUNITIES TOGETHER TO CATALYZE NEW WAYS OF LEARNING, THINKING AND BEING.

Program Service Accomplishments

Program 1

Expenses: $27,183

ARTSPACE'S GALLERY PROGRAM INCLUDES EXHIBITIONS IN VARIOUS FORMATS AND SCALES, INCLUDING INDIVIDUAL SOLO EXHIBITIONS, GROUP EXHIBITIONS, WINDOW INSTALLATIONS, AN ANNUAL ARTIST IN RESIDENCY, AND A...

ARTSPACE'S GALLERY PROGRAM INCLUDES EXHIBITIONS IN VARIOUS FORMATS AND SCALES, INCLUDING INDIVIDUAL SOLO EXHIBITIONS, GROUP EXHIBITIONS, WINDOW INSTALLATIONS, AN ANNUAL ARTIST IN RESIDENCY, AND A LARGE CITY-WIDE FESTIVAL THAT ENCOMPASSES OFFSITE EXHIBITIONS AT AS MANY AS 65 SITES. WE INVITE PROPOSALS FROM ARTISTS AND CURATORS ANNUALLY THROUGH AN OPEN CALL. A GROUP OF 10 ELECTED VOLUNTEERS ARTISTS CURATORS, AND CRITICS SERVE AS A PEER-REVIEW CURATORIAL ADVISORY BOARD, ASSISTING THE STAFF IN THE SELECTION OF APPLICANTS FOR COMMISSIONS AND WITH PLANNING PORTIONS OF THE PROGRAMS, ARTSPACE ALSO OFFERES PROFESSIONAL DEVELOPMENT WORKSHOPS TO AID ARTISTS IN PROMOTING AND PRESENTING THEIR WORK TO CURATORS, GALLERIES AND INSTITUTIONS.

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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 $9,226

Program Service Revenue $0

Investment Income $-481

Other Revenue $0

TOTAL REVENUE $8,745

Expense Breakdown

Grants Paid $0

Salaries & Benefits $13,901

Fundraising Expenses $0

Program Expenses $27,183

Other Expenses $54,772

TOTAL EXPENSES $68,673

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,745	$277,070	-1.0%
Expenses	$68,673	$616,727	-0.9%
Net Income	$-59,928	$-339,657	-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

N/A

Independent Members

N/A

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
SINCLAIRE MARBER	DIRECTOR	1.00	Officer Director	$0	$0	$0
LUCY MCCLURE	DIRECTOR	1.00	Officer	$0	$0	$0
ANDREW GIERING	DIRECTOR & BOARD MEMBER	1.00	Officer	$0	$0	$0
DAVID GOLDBLUM	DIRECTOR	1.00	Officer	$0	$0	$0
KYLE KEARSON	DIRECTOR & BOARD MEMBER	1.00	Officer	$0	$0	$0
JUDY PUGLISI	DIRECTOR & BOARD MEMBER	1.00	Officer	$0	$0	$0
DIANE BROWN	BOARD MEMBER	1.00	Officer	$0	$0	$0
TRICIA NAPOR	BOARD MEMBER	1.00	Officer	$0	$0	$0
KARA STRAUN	BOARD MEMBER	1.00	Officer	$0	$0	$0
BEKA STURGES	DIRECTOR	1.00	Officer	$0	$0	$0
PAUL TAHERI	DIRECTOR & BOARD MEMBER	1.00	Officer	$0	$0	$0
FREDERICK BORELLI	VICE PRES & BOARD MEMBER	1.00	Officer	$0	$0	$0
JAN LUBIN	SECRETARY & BOARD MEMBER	1.00	Officer	$0	$0	$0
HOWARD HEBEL	DIRECTOR & BOARD MEMBER	1.00	Officer	$0	$0	$0
KIMBIRLY MORIARTY	CHAIR	1.00	Officer	$0	$0	$0
JESSICA LABBE	TREASURER & BOARD MEMBER	1.00	Officer	$0	$0	$0
R LEE STUMP	DIRECTOR & BOARD MEMBER	1.00	Officer	$0	$0	$0
SEMI-SEMI DIKOKO	DIRECTOR	1.00	Officer	$0	$0	$0
KEVIN EWING	DIRECTOR	1.00	Officer	$0	$0	$0
JASON DANA	DIRECTOR	1.00	Officer	$0	$0	$0
MARION BELANGER	DIRECTOR & BOARD MEMBER	1.00	Officer	$0	$0	$0
KIM WESTON	DIRECTOR & BOARD MEMBER	1.00	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	$8,745	$68,673	$74,799	$-59,928
2023	$277,070	$616,727	$134,497	$-339,657
2022	$706,520	$893,311	$363,041	$-186,791
2021	$506,064	$507,508	$572,871	$-1,444
2020	$455,897	$537,215	$571,252	$-81,318
2019	$527,854	$566,377	$625,938	$-38,523

ARTSPACE INC C/O VERDOLINO & LOWEY PC