The Center for Art in Wood Inc

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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

1986

Legal Domicile

Principal Officer

PATRICIA FOWLER

Phone

2159238000

Tax Period

2024-01-01 to 2024-12-31

The Center for Art in Wood Inc, founded in 1986, is a small nonprofit that reported $862K in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $1.4M exceeded revenue, resulting in a 59% operating deficit.

Mission

THE MUSEUM FOR ART IN WOOD ENGAGES, EDUCATES, AND INSPIRES THE PUBLIC THROUGH THE EXHIBITION, COLLECTION, AND INTERPRETATION OF CONTEMPORARY ART IN WOOD.

Program Service Accomplishments

Program 1

Expenses: $807,925

EXHIBITIONS REMAIN AT THE CORE OF THE MUSEUM'S PROGRAMMING. SINCE ITS INCEPTION IN 1986, THE MUSEUM'S EXHIBITIONS HAVE PRESENTED THE WORK OF ESTABLISHED AND EMERGING ARTISTS WHICH HAS SERVED TO MOVE THE FIELD OF ART IN WOOD TO THE FOREFRONT OF ARTS AND CULTURE. THE MUSEUM'S EXHIBITIONS RELATED ACHIEVEMENTS INCLUDE: ORGANIZING OVER 100 EXHIBITIONS TO SHOWCASE CREATIVITY AND CRAFTMANSHIP (TWELVE OF WHICH HAVE TOURED TO MUSEUMS AND AROUND THE US) AND PUBLISHED OVER 25 MAJOR CATALOGUES ABOUT VARIOUS ASPECTS OF WOOD ART AND THE ARTISTS.

Program 2

Expenses: $66,240

SINCE 1995, THE MUSEUM FOR ART IN WOOD HAS AWARDED FELLOWSHIPS IN ITS ANNUAL WINDGATE ARTS RESIDENCY PROGRAM IN WOOD (WARP WOOD). IN 2016, THE MUSEUM ADDED ONE MORE FELLOWSHIP - A STUDENT ARTIST...

SINCE 1995, THE MUSEUM FOR ART IN WOOD HAS AWARDED FELLOWSHIPS IN ITS ANNUAL WINDGATE ARTS RESIDENCY PROGRAM IN WOOD (WARP WOOD). IN 2016, THE MUSEUM ADDED ONE MORE FELLOWSHIP - A STUDENT ARTIST RESIDENT FELLOW. THIS PROGRAM IS A COLLEGIAL EXPERIENCE IN WHICH THE RESIDENT FELLOWS EXPLORE NEW WORK THROUGH RESEARCH, EXPLORATION, AND COLLABORATION. INCLUDED ANNUALLY ARE NOW SIX WOOD ARTISTS, WHICH INCLUDE THE STUDENT ARTIST, A PHOTOJOURNALIST, AND A SCHOLAR SELECTED FROM AN INTERNATIONAL POOL OF APPLICANTS. THEY WORK INDIVIDUALLY AND COLLABORATIVELY. THE SCHOLAR GAINS IN DEPTH UNDERSTANDING OF THE WOOD ART FIELD AND ITS PRACTITIONERS. THE DOCUMENTARY ARTIST DOCUMENTS THE PROGRAM EXPERIENCE IN TRADITIONAL AND INNOVATIVE WAYS.

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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 $266,065

Program Service Revenue $0

Investment Income $488,412

Other Revenue $107,296

TOTAL REVENUE $861,773

Expense Breakdown

Grants Paid $0

Salaries & Benefits $537,419

Fundraising Expenses $93,086

Program Expenses $874,165

Other Expenses $835,633

TOTAL EXPENSES $1,373,052

Year-over-Year Comparison

	2024	2023	Change
Revenue	$861,773	$733,765	+0.2%
Expenses	$1,373,052	$1,451,603	-0.1%
Net Income	$-511,279	$-717,838	-0.3%

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

N/A

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

$122,528

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JENNIFER MILLIKEN	EXECUTIVE DIRECTOR	40.0	Officer	$110,875	$11,653	$122,528
PATRICIA FOWLER	PRESIDENT	10.0	Officer Director	$0	$0	$0
JOHN LUTZ	VICE PRESIDENT	10.0	Officer Director	$0	$0	$0
ED BRESLER	TREASURER	10.0	Officer Director	$0	$0	$0
JOSHUA AIBEL	SECRETARY	10.0	Officer Director	$0	$0	$0
LEONARD J KREPPEL	BOARD MEMBER	5.0	Director	$0	$0	$0
THOMAS SCURTO-DAVIS	BOARD MEMBER	5.0	Director	$0	$0	$0
RICK SNYDERMAN	BOARD MEMBER	5.0	Director	$0	$0	$0
LISA TREMPER HANOVER	BOARD MEMBER	5.0	Director	$0	$0	$0
FABIO VITALI	BOARD MEMBER	5.0	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	$861,773	$1,373,052	$17,541,307	$-511,279
2023	$733,765	$1,451,603	$16,826,812	$-717,838
2022	$1,069,704	$1,267,377	$14,887,259	$-197,673
2021	$1,104,343	$1,057,076	$18,172,718	$47,267
2020	$11,246,233	$811,058	$16,241,893	$10,435,175
2019	$828,159	$895,674	$5,445,655	$-67,515