THE FINE ARTS SOCIETY OF SARASOTA INC (EIN 237098475) - 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

1969

Legal Domicile

Principal Officer

WILLIAM RUSLING

Phone

9413515361

Tax Period

2023-05-01 to 2024-04-30

THE FINE ARTS SOCIETY OF SARASOTA INC, founded in 1969, is a small nonprofit that reported $202K in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion. The organization ran a surplus of $77K, a strong 38% operating margin.

Mission

DEDICATED TO SUPPORTING AND STIMULATING THE ARTS IN SARASOTA:- ENCOURAGES A GREATER UNDERSTANDING OF ALL ART FORMS- PROVIDES SCHOLARSHIPS TO TALENTED ART STUDENTS IN SARASOTA COUNTY- OFFERS GRANTS TO LOCAL ARTS ORGANIZATIONS CONGRUENT WITH THE MISSION- MAINTAINS A PUBLIC EXHIBITION OF WORKS BY FLORIDA ARTISTS

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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 $80,899

Program Service Revenue $65,606

Investment Income $55,484

Other Revenue $0

TOTAL REVENUE $201,989

Expense Breakdown

Grants Paid $38,500

Salaries & Benefits $0

Fundraising Expenses $1,451

Program Expenses $104,854

Other Expenses $86,744

TOTAL EXPENSES $125,244

Year-over-Year Comparison

	2023	2022	Change
Revenue	$201,989	$172,888	+0.2%
Expenses	$125,244	$102,250	+0.2%
Net Income	$76,745	$70,638	+0.1%

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

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
CAROLE SCHWARTZ	PRESIDENT	35.00	Officer Director	$0	$0	$0
WILLIAM RUSLING	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
ELAINE FOSTER	TREASURER	25.00	Officer Director	$0	$0	$0
SHARON SAATSOGLOU	CORRESPONDING SECRETARY	1.00	Officer Director	$0	$0	$0
EVELYN LEVIN	RECORDING SECRETARY	1.00	Officer Director	$0	$0	$0
JEANNETTE PALADINO	PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
RENNIE CARTER	DIRECTOR	2.00	Director	$0	$0	$0
CECILIA CONDER	DIRECTOR	1.00	Director	$0	$0	$0
CAROL HIRSCHBURG	DIRECTOR	1.00	Director	$0	$0	$0
BETTY FERGUSON	DIRECTOR	5.00	Director	$0	$0	$0
STEPHANIE FRASHER	DIRECTOR	10.00	Director	$0	$0	$0
DONNA MAYTHAM	DIRECTOR	1.00	Director	$0	$0	$0
PATRICIA TAYLOR	DIRECTOR	1.00	Director	$0	$0	$0
LIZ TROSTLI	DIRECTOR	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
2025	No data	No data	No data	No data
2024	$201,989	$125,244	$2,027,615	$76,745
2023	$172,888	$102,250	$1,827,406	$70,638
2022	$162,228	$109,598	$1,759,156	$52,630
2021	$128,308	$72,912	$1,823,576	$55,396
2020	$128,425	$168,959	$1,464,503	$-40,534

THE FINE ARTS SOCIETY OF SARASOTA INC