KRASL ART CENTER INC (EIN 237009281) - 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

1967

Legal Domicile

Principal Officer

TAMI FAUVER

Phone

2699830271

Tax Period

2024-10-01 to 2025-09-30

KRASL ART CENTER INC, founded in 1967, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.6M in total revenue in fiscal year 2024. Revenue surged 23% from the prior year, signaling strong growth momentum. Net assets of $10.7M represent 81 months of operating reserves.

Mission

TO PROMOTE THE STUDY OF ART, ART HISTORY, AND THE ACQUISITION OF WORKS OF ART BY PUBLICE, PRIVATE, AND INDIVIDUAL COLLECTORS. TO PROVIDE COMMUNICATION AND AESTHETIC APPRECIATION OF THE VISUAL FINE ARTS THROUGH EDUCATION AND MAINTIANING AN EXHIBITION FACILITY THAT IS REGULARLY OPEN TO THE PUBLIC IN SOUTHWESTERN MICHIGAN.

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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 $804,186

Program Service Revenue $415,155

Investment Income $365,357

Other Revenue $0

TOTAL REVENUE $1,584,698

Expense Breakdown

Grants Paid $0

Salaries & Benefits $704,506

Fundraising Expenses $145,255

Program Expenses $824,440

Other Expenses $848,147

TOTAL EXPENSES $1,552,653

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,584,698	$1,284,760	+0.2%
Expenses	$1,552,653	$1,541,667	+0.0%
Net Income	$32,045	$-256,907	-1.1%

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

626

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

$105,732

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ZACHARY VAUGHN	PRESIDENT	5.00	Officer Director	$0	$0	$0
GRACE KELMER	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
PAULETTE JOHNSON	SECRETARY	5.00	Officer Director	$0	$0	$0
PAUL FLETCHER	TREASURER	5.00	Officer Director	$0	$0	$0
BUDD HAEMER	DIRECTOR	1.00	Director	$0	$0	$0
ALAN CORKHILL	DIRECTOR	1.00	Director	$0	$0	$0
MATT KAISER	DIRECTOR	1.00	Director	$0	$0	$0
ANNA BROOKS	DIRECTOR	1.00	Director	$0	$0	$0
PRINCELLA TOBIAS	DIRECTOR	1.00	Director	$0	$0	$0
ALISON BULLOCK	DIRECTOR	1.00	Director	$0	$0	$0
NICOLE BROWN	DIRECTOR	1.00	Director	$0	$0	$0
JUAN GANUM	DIRECTOR	1.00	Director	$0	$0	$0
TAMI FAUVER	EXECUTIVE DIRECTOR	40.00	Officer	$105,732	$0	$105,732

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	$1,584,698	$1,552,653	$10,721,811	$32,045
2024	$1,284,760	$1,541,667	$10,858,812	$-256,907
2023	$1,297,716	$1,497,720	$10,181,417	$-200,004
2022	$964,721	$1,226,966	$9,652,045	$-262,245
2021	$1,452,128	$991,687	$11,694,289	$460,441
2020	$866,895	$966,832	$10,782,493	$-99,937
2019	$1,729,195	$1,308,553	$10,630,157	$420,642
2018	$1,908,239	$1,759,259	$11,218,116	$148,980

KRASL ART CENTER INC