PORTSMOUTH MUSIC & ARTS CENTER 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

2003

Legal Domicile

Principal Officer

MARK ANDERSON

Phone

6034314278

Tax Period

2024-09-01 to 2025-08-31

PORTSMOUTH MUSIC & ARTS CENTER INC, founded in 2003, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.8M in total revenue in fiscal year 2024. Revenue surged 115% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.2M, a strong 41% operating margin.

Mission

TO BUILD COMMUNITY THROUGH THE ARTS BY PROVIDING ALL PEOPLE WITH THE OPPORTUNITY TO ACHIEVE THEIR FULL CREATIVE POTENTIAL, REGARDLESS OF THEIR AGE, ABILITY OR ECONOMIC STATUS. WE ACCOMPLISH THIS THROUGH HIGH QUALITY MUSIC AND VISUAL ARTS EDUCATION PROGRAMS AND BY CREATING ENSEMBLE, PERFORMANCE AND EXHIBITON OPPORTUNITIES FOR STUDENTS, PROFESSIONALS, AND AUDIENCES.

Program Service Accomplishments

Program 1

Expenses: $921,529 Revenue: $847,787

THE ORGANIZATION PROVIDES INDIVIDUAL INSTRUCTION IN A WIDE VARIETY OF MUSICAL INSTRUMENTS AND VOICE FOR COMMUNITY MEMBERS OF ALL AGES, INCLUDING ADULTS. THE CENTER ALSO OFFERS A WIDE VARIETY OF ART CLASSES AS WELL AS INDIVIDUAL INSTRUCTION. CLASSES ARE IN A VARIETY OF MEDIUMS INCLUDING BUT NOT LIMITED TO DRAWING, PAINTING, PRINTMAKING, COLLAGE, SCULPTURE AND PHOTOGRAPHY.THE ORGANIZATION OFFERS SEVERAL EDUCATIONAL MUSIC ENSEMBLES TAUGHT BY PROFESSIONAL FACULTY. ENSEMBLES INCLUDE YOUTH ORCHESTRA, TEEN JAZZ BAND, YOUTH ROCK BANDS, AND MANY ADULT COMMUNITY ENSEMBLES INCLUDING FLUTE CHOIR, SAXOPHONE ENSEMBLE, BLUEGRASS ENSEMBLE, CONCERT BAND, JAZZ BAND, BIG BAND, BLUES BAND AND MORE.

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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 $1,849,559

Program Service Revenue $820,530

Investment Income $1,469

Other Revenue $177,570

TOTAL REVENUE $2,849,128

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,205,917

Fundraising Expenses $196,599

Program Expenses $921,529

Other Expenses $475,993

TOTAL EXPENSES $1,681,910

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,849,128	$1,324,062	+1.2%
Expenses	$1,681,910	$1,314,031	+0.3%
Net Income	$1,167,218	$10,031	+115.4%

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

$189,483

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIELLE O'NEIL	SECRETARY	2.00	Director	$0	$0	$0
CLEO VILLAFLORES	DIRECTOR	1.00	Director	$0	$0	$0
DR NANCY PEARSON	DIRECTOR	1.00	Director	$0	$0	$0
BETH WAGNER	DIRECTOR	1.00	Director	$0	$0	$0
FORREST ELLIOTT	DIRECTOR	2.00	Director	$0	$0	$0
BROOKS JALBERT	TREASURER	3.00	Director	$0	$0	$0
RICK WALLIS	DIRECTOR	1.00	Director	$0	$0	$0
STEPHEN RITCHIE	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES RIOPEL	DIRECTOR	1.00	Director	$0	$0	$0
LISA SHAWNEY	CHAIR	4.00	Director	$0	$0	$0
BILL DURLING	VICE CHAIR	2.00	Director	$0	$0	$0
MARK ANDERSON	DIRECTOR	2.00	Director	$0	$0	$0
JIM BUTTRICK	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN WOLOWITZ	DIRECTOR	1.00	Director	$0	$0	$0
JOE KEEFE	DIRECTOR	1.00	Director	$0	$0	$0
RUSSELL B GRAZIER JR	CHIEF EXECUTIVE OFFICER	40.00	Officer	$108,522	$0	$108,522
KATHERINE GRAZIER	CHIEF OPERATING OFFICER	40.00	Officer	$80,961	$0	$80,961

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	$2,849,128	$1,681,910	$2,667,008	$1,167,218
2024	$1,324,062	$1,314,031	$1,597,413	$10,031
2023	$1,264,095	$1,211,619	$1,581,420	$52,476
2022	$1,079,924	$1,045,458	$1,568,792	$34,466
2021	$984,486	$1,036,686	$1,422,170	$-52,200
2020	$972,968	$982,492	$1,566,030	$-9,524
2019	$904,608	$927,217	$1,498,456	$-22,609
2018	$837,686	$843,135	$1,529,287	$-5,449