ABINGTON ART CENTER

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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

1939

Legal Domicile

Principal Officer

ROSALIE GUZOFSKY

Phone

2158874882

Tax Period

2022-06-01 to 2023-05-31

ABINGTON ART CENTER, founded in 1939, is a small nonprofit in the Arts, Culture & Humanities sector that reported $563K in total revenue in fiscal year 2022. Expenses of $708K exceeded revenue, resulting in a 26% operating deficit.

Mission

TO PROVIDE VISUAL ARTS AND CULTURAL PROGRAMS FOR THE COMMUNITY, INCLUSIVE OF ALL AGE GROUPS, INCLUDING EXHIBITIONS, STUDIO CLASSES, PUBLIC PROGRAMS, PERFORMANCES, LECTURES, ARTISTS DISCUSSIONS, AND OUTREACH FOR SPECIAL NEEDS AUDIENCES. THE CENTER SERVES OVER 25,000 PEOPLE EACH YEAR.

Program Service Accomplishments

Program 1

Expenses: $228,623 Revenue: $318,311

CLASSES AND SPECIAL PROGRAMS: OVER 300 CLASSES AND WORKSHOPS ARE OFFERED THROUGHOUT THE YEAR FOR AGES 5 TO 95+ IN PAINTING, DRAWING, PRINTMAKING, CERAMICS, JEWELRY, AND OTHER SPECIAL TOPICS. THIS...

CLASSES AND SPECIAL PROGRAMS: OVER 300 CLASSES AND WORKSHOPS ARE OFFERED THROUGHOUT THE YEAR FOR AGES 5 TO 95+ IN PAINTING, DRAWING, PRINTMAKING, CERAMICS, JEWELRY, AND OTHER SPECIAL TOPICS. THIS FISCAL YEAR WE MADE MODIFICATIONS TO THESE PROGRAMS TO HELP STOP THE SPREAD OF COVID19, WHILE ALLOWING THE CLASSES TO TAKE PLACE IN PERSON. CAMP WAS HELD OUTSIDE WITH MASKS REQUIRED, AND MASKS AND COVID VACCINATIONS WERE REQUIRED FOR ALL CLASSES.

Program 2

Expenses: $90,012 Revenue: $128,936

RENTALS: THE ABINGTON ART CENTER(AAC) RENTS ITS FACILITIES TO MEMBERS FOR HOSTING WEDDINGS, MITZVAHS, CORPORATE RETREATS, FUNDRAISERS, FAMILY REUNIONS, BIRTHDAY PARTIES, AND CHILDRENS' ART PARTIES...

RENTALS: THE ABINGTON ART CENTER(AAC) RENTS ITS FACILITIES TO MEMBERS FOR HOSTING WEDDINGS, MITZVAHS, CORPORATE RETREATS, FUNDRAISERS, FAMILY REUNIONS, BIRTHDAY PARTIES, AND CHILDRENS' ART PARTIES. AAC ALSO RENTS OUR OUTSIDE PAVILION AND STAGE FOR THEATER AND BAND REHEARSALS AS WELL AS DANCE RECITALS AND PROMS FOR LOCAL SCHOOLS.

Program 3

Expenses: $62,695 Revenue: $29,917

COMMUNITY PROGRAMS: THE ABINGTON ART CENTER HOSTS SEVERAL COMMUNITY PROGRAMS, INCLUDING THE ANNUAL SUMMER CONCERT SERIES, WHICH ARE FREE, WEEKLY EVENING CONCERTS DURING JULY. AAC HOSTS CRAFT FAIRS IN...

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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 (2022)

Revenue Breakdown

Contributions & Grants $78,817

Program Service Revenue $483,298

Investment Income $1,096

Other Revenue $0

TOTAL REVENUE $563,211

Expense Breakdown

Grants Paid $0

Salaries & Benefits $322,478

Fundraising Expenses $14,595

Program Expenses $401,833

Other Expenses $385,981

TOTAL EXPENSES $708,459

Year-over-Year Comparison

	2022	2021	Change
Revenue	$563,211	$582,841	0.0%
Expenses	$708,459	$578,588	+0.2%
Net Income	$-145,248	$4,253	-35.2%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Paul E Morse Jr	President 9/2018-12/2022	5.00	Officer Director	$0	$0	$0
Paul E Morse Jr	Board Member 12/2022-3/2/2023	2.00	Director	$0	$0	$0
Lenore Davies	Board Secretary 2021-12/2022	5.00	Officer Director	$0	$0	$0
Lenore Davies	President 12/2022-6/2023	5.00	Officer Director	$0	$0	$0
Lenore Davies	Vice President 6/2023-Present	5.00	Officer Director	$0	$0	$0
Jocelyn Russell Wallace	Board Member 5/2022-12/2022	5.00	Officer Director	$0	$0	$0
Jocelyn Russell Wallace	Vice President 12/2022-6/2023	5.00	Officer Director	$0	$0	$0
Jocelyn Russell Wallace	President 6/2023-Present	5.00	Officer Director	$0	$0	$0
Joyce Stein	Board Treasurer 11/2021-Present	2.00	Director	$0	$0	$0
Nathalie Peeters	Board Member 1/2019-12/2022	2.00	Director	$0	$0	$0
Nathalie Peeters	Board Secretary 12/2022-Present	5.00	Officer Director	$0	$0	$0
Yoni Hirt	Board Member 11/2022-Present	2.00	Director	$0	$0	$0
Ronald Resnikoff	Board Member 2017-Present	2.00	Director	$0	$0	$0
Amy Ricci	Board Member 1/2023-Present	2.00	Director	$0	$0	$0
John Rosenthal	Board Member 2017-Present	2.00	Director	$0	$0	$0
Stuart Winegrad	Board Member 1/2020-Present	2.00	Director	$0	$0	$0
ROSALIE GUZOFSKY	EXECUTIVE DIRECTOR	15.00	Director	$0	$0	$0
JENNIFER CARDOSO	DIRECTOR OF OPERATIONS	15.00	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	No data	No data	No data	No data
2023	$563,211	$708,459	$1,543,695	$-145,248
2023	$391,040	$450,230	$1,447,446	$-59,190
2022	$582,841	$578,588	$1,589,726	$4,253
2021	$189,202	$337,146	$1,361,669	$-147,944
2020	$380,655	$420,122	$1,353,478	$-39,467
2019	$433,214	$426,929	$1,464,682	$6,285
2018	$421,645	$507,062	$1,542,680	$-85,417