ETA CREATIVE ARTS FOUNDATION

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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

1971

Legal Domicile

Principal Officer

KENYA THOMAS

Phone

7737523955

Tax Period

2023-01-01 to 2023-12-31

ETA CREATIVE ARTS FOUNDATION, founded in 1971, is a small nonprofit in the Arts, Culture & Humanities sector that reported $249K in total revenue in fiscal year 2023. Revenue surged 57% from the prior year, signaling strong growth momentum. Expenses of $399K exceeded revenue, resulting in a 60% operating deficit.

Mission

ETA CREATIVE ARTS FOUNDATION SEEKS TO BE A MAJOR CULTURAL RESOURCE INSTITUTION FOR THE PRESERVATION, PERPETUATION AND PROMULGATION OF THE AFRICAN AMERICAN AESTHETIC IN THE CITY OF CHICAGO, THE STATE OF ILLINOIS AND THE NATION TOWARD THIS END, ETA CREATIVE ARTS FOUNDATION SHALL PROVIDE PROFESSIONAL OPPORTUNITIES BY WAY OF TRAINING AND PERFORMANCE FOR THE DEVELOPMENT OF BOTH YOUTH AND ADULTS AS ARTISTS, OPPORTUNITIES FOR PLAYWRIGHTS TO HONE AND HAVE THEIR WORKS PRODUCED, WORK FOR ARTISTS AND TECHNICIANS, SALES FOR VISUAL ARTISTS THROUGH THE GALLERY AND EXPOSURE FOR THE GENERAL PUBLIC TO AUTHENTIC VALID PROJECTIONS OF AFRICAN AMERICAN LIFE STYLES, EXPERIENCES AND ASPIRATIONS.

Program Service Accomplishments

Program 1

Expenses: $102,485 Revenue: $18,093

PRODUCTIONS: ETA CREATIVE ARTS FOUNDATION PROVIDES PROFESSIONAL OPPORTUNITIES THROUGH PERFORMANCES AND ON THE JOB TRAINING FOR THE DEVELOPMENT OF BOTH YOUTH AND YOUNG ADULTS AS ARTIST.

Program 2

Expenses: $73,870 Revenue: $27,186

THEATER RENTAL: ETA CREATIVE ARTS FOUNDATION RENTS ITS FACILITIES TO LOCAL GROUPS TO PROMOTE THEIR PRODUCTIONS.

Program 3

Expenses: $4,571 Revenue: $17,011

COMMUNITY ENGAGEMENT: ETA HOST A PLETHORA OF COMMUNITY EVENTS FOR ADULTS THROUGHOUT THE YEAR.

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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 $176,003

Program Service Revenue $62,290

Investment Income $7,078

Other Revenue $3,693

TOTAL REVENUE $249,064

Expense Breakdown

Grants Paid $0

Salaries & Benefits $82,171

Fundraising Expenses $0

Program Expenses $180,926

Other Expenses $317,142

TOTAL EXPENSES $399,313

Year-over-Year Comparison

	2023	2022	Change
Revenue	$249,064	$158,445	+0.6%
Expenses	$399,313	$499,454	-0.2%
Net Income	$-150,249	$-341,009	-0.6%

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

$75,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
REQUEL GIBSON	BOARD PRESIDENT	5.00	Officer Director	$0	$0	$0
DORRETTA EVANS PARKER	VICE CHAIR	5.00	Officer Director	$0	$0	$0
MARKENA PEAVY	DIRECTOR	5.00	Director	$0	$0	$0
FERNANDO JONES	DIRECTOR	5.00	Director	$0	$0	$0
KENYA THOMAS	EXECUTIVE DIRECTOR	40.00	Officer	$75,000	$0	$75,000

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	$249,064	$399,313	$4,131,966	$-150,249
2022	$158,445	$499,454	$3,678,838	$-341,009
2021	$607,383	$366,146	$4,181,972	$241,237
2020	$180,517	$416,026	$4,440,946	$-235,509
2019	$156,759	$444,364	$4,578,064	$-287,605
2018	$236,110	$368,618	$4,759,408	$-132,508