GARDEN STATE ARTS FOUNDATION INC (EIN 222543658) - 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

1984

Legal Domicile

Principal Officer

MICHAEL R DUPONT

Phone

7327505300

Tax Period

2024-01-01 to 2024-12-31

GARDEN STATE ARTS FOUNDATION INC, founded in 1984, is a small nonprofit in the Arts, Culture & Humanities sector that reported $704K in total revenue in fiscal year 2024. Expenses of $1.2M exceeded revenue, resulting in a 76% operating deficit.

Mission

THE FOUNDATION PROVIDES CLASSICAL/CULTURAL/MUSICAL PROGRAMMING; SEE PART III AND SCHEDULE O.

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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 $661,542

Program Service Revenue $0

Investment Income $42,289

Other Revenue $0

TOTAL REVENUE $703,831

Expense Breakdown

Grants Paid $0

Salaries & Benefits $36,242

Fundraising Expenses $0

Program Expenses $1,096,523

Other Expenses $1,200,109

TOTAL EXPENSES $1,236,351

Year-over-Year Comparison

	2024	2023	Change
Revenue	$703,831	$665,596	+0.1%
Expenses	$1,236,351	$787,201	+0.6%
Net Income	$-532,520	$-121,605	+3.4%

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

$353,499

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL R DUPONT	PRESIDENT	1.00	Officer Director	$0	$0	$0
RONALD R GRAVINO	VICE PRESIDENT	3.00	Officer Director	$0	$0	$0
ULISES E DIAZ	SECRETARY	1.00	Officer Director	$0	$0	$0
FRANCISCO MALDONADO-RAMIREZ	TREASURER	1.00	Officer Director	$0	$0	$0
FRANCIS O'CONNOR	CHAIRMAN FROM 2/20/2024	1.00	Officer Director	$0	$0	$0
RAPHAEL SALERMO	MEMBER	1.00	Director	$0	$0	$0
JOHN S WISNIEWSKI	MEMBER FROM 1/25/2024	1.00	Director	$0	$0	$0
MARIANN ZACH	ASSISTANT SECRETARY	1.00	Officer	$0	$38,333	$193,114
KAREN YEUNG	ASSISTANT TREASURER	1.00	Officer	$0	$28,928	$160,385

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	$703,831	$1,236,351	$717,475	$-532,520
2023	$665,596	$787,201	$1,156,336	$-121,605
2022	$633,224	$794,876	$1,277,791	$-161,652
2021	$612,014	$356,191	$1,439,532	$255,823
2020	$519,873	$17,644	$1,189,928	$502,229
2019	$692,620	$619,013	$686,781	$73,607
2018	$631,162	$743,395	$613,054	$-112,233

GARDEN STATE ARTS FOUNDATION INC