ARTPARK & COMPANY 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

1970

Legal Domicile

Principal Officer

DAVID WEDEKINDT

Phone

7167549000

Tax Period

2023-10-01 to 2024-09-30

ARTPARK & COMPANY INC, founded in 1970, is a community nonprofit that reported $7.4M in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion.

Mission

ARTPARK & COMPANY FOSTERS A TRANSFORMATIVE WORLD OF ARTISTIC ENGAGEMENT THAT EXPLORES THE HUMAN EXPERIENCE, CULTIVATES CREATIVITY, AND ENCOURAGES CURIOSITY. OUR WORK IS INFORMED BY A LONG TRADITION OF DISCOVERY, AN EXPECTATION OF ARTISTIC EXCELLENCE, AND AN AWARENESS OF THE INSPIRATION OF SINGULAR NATURAL SPLENDOR.LOCATED AT THE BIRTHPLACE OF NIAGARA FALLS, AND SITUATED ON TRADITIONAL INDIGENOUS LANDS OF MANY NATIONS, ARTPARK & COMPANY HONORS THE HISTORIC LEGACY ON WHICH IT WAS CREATED, SUPPORTING THE EVOLUTION OF THE ARTS AND ITS ROLE AS A CULTURAL LEADER, ASPIRING TO A PROGRESSIVE FUTURE. WE EMBRACE A PHILOSOPHY THAT ART, CULTURE, AND NATURE CAN HARMONIOUSLY COEXIST AND INSPIRE. WE ADVOCATE FOR EVERY ART, BOTH KNOWN AND NOT YET KNOWN, AS CREATED IN PUBLIC BY DIVERSE ARTISTS, OFTEN WITH ASSISTANCE FROM THEIR AUDIENCE, ATTRACTED BY THE DISCOVERY, LEARNING, AND EXPLORATION THAT THE ARTS ENCOURAGE.

Program Service Accomplishments

Program 1

Expenses: $6,859,051 Revenue: $4,157,653

PROGRAM AND MANAGEMENT OF ARTPARK, A SUMMER OUTDOOR MUSIC AND EVENT VENUE LOCATED ON THE NIAGARA GORGE. ARTPARK DELIVERS OVER 100 EVENTS DURING THE SUMMER MONTHS TO OVER 100,000 VISITORS. MANY OF THE...

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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 (2023)

Revenue Breakdown

Contributions & Grants $2,393,834

Program Service Revenue $4,923,832

Investment Income $24,471

Other Revenue $90,655

TOTAL REVENUE $7,432,792

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,183,315

Fundraising Expenses $0

Program Expenses $6,859,051

Other Expenses $5,757,856

TOTAL EXPENSES $7,941,171

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,432,792	$6,513,113	+0.1%
Expenses	$7,941,171	$7,158,682	+0.1%
Net Income	$-508,379	$-645,569	-0.2%

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

233

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

$317,917

Total Directors

$5,983

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SONIA KOZLOVA CLARK	PRESIDENT (THROUGH MARCH 2024)	50.00	Officer	$160,889	$13,516	$174,405
DAVID WEDEKINDT	PRESIDENT	50.00	Officer	$124,252	$19,260	$143,512
FRANCINE DELMONTE	DIRECTOR	2.00	Director	$5,983	$0	$5,983
JOANNE BAUER	BOARD CHAIR	2.00	Officer Director	$0	$0	$0
CHRISTOPHER LEARDINI	VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
STEPHEN TURNER	TREASURER	2.00	Officer Director	$0	$0	$0
VINCENT AGNELLO	SECRETARY	2.00	Officer Director	$0	$0	$0
ALLISON APPOLONEY	DIRECTOR	1.00	Director	$0	$0	$0
DENA ARMSTRONG	DIRECTOR	1.00	Director	$0	$0	$0
JAMIE BANNISTER	DIRECTOR	1.00	Director	$0	$0	$0
ANTHONY BANNON	DIRECTOR	1.00	Director	$0	$0	$0
DON BOSWELL	DIRECTOR	1.00	Director	$0	$0	$0
JASON BRYDGES	DIRECTOR	1.00	Director	$0	$0	$0
JOHN CAMP	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPH CERTO	DIRECTOR	1.00	Director	$0	$0	$0
JONATHAN A DANDES	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL J DOWD ESQ	DIRECTOR	1.00	Director	$0	$0	$0
LYN DYSTER	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL HICKEY	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER E KAY	DIRECTOR	1.00	Director	$0	$0	$0
OMAR KHAN	DIRECTOR	1.00	Director	$0	$0	$0
SKIP MAZENAUER	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL MCINERNEY	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL MONTANTE	DIRECTOR	1.00	Director	$0	$0	$0
MARCY NEWMAN	DIRECTOR	1.00	Director	$0	$0	$0
EDWARD PERLMAN ESQ	DIRECTOR	1.00	Director	$0	$0	$0
DANIELLA PIPER	DIRECTOR	1.00	Director	$0	$0	$0
PAMELA PRIEST	DIRECTOR	1.00	Director	$0	$0	$0
DUNCAN SMITH	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL VITCH	DIRECTOR	1.00	Director	$0	$0	$0
JEFFREY WILLIAMS	DIRECTOR	1.00	Director	$0	$0	$0
MAX WILLIG	DIRECTOR	1.00	Director	$0	$0	$0
MARK MISTRETTA	DIRECTOR (EX-OFFICIO)	1.00	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	$7,432,792	$7,941,171	$4,107,470	$-508,379
2023	$6,513,113	$7,158,682	$2,365,706	$-645,569
2022	$7,926,937	$7,539,335	$2,862,407	$387,602
2021	$5,321,157	$4,317,248	$3,327,523	$1,003,909
2020	$1,174,402	$1,858,398	$2,074,911	$-683,996
2020	$1,174,402	$1,858,398	$2,074,911	$-683,996
2019	$5,182,007	$5,391,082	$1,784,193	$-209,075
2018	$4,956,929	$5,344,790	$1,944,180	$-387,861