THE ARK

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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

Phone

7739731000

Tax Period

2024-07-01 to 2025-06-30

THE ARK, founded in 1971, is a mid-sized nonprofit in the Human Services sector that reported $14.2M in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.2M, a strong 16% operating margin.

Mission

THE MISSION OF THE ARK IS TO HELP CHICAGOLAND JEWS WHO ARE FACING ADVERSITY NAVIGATE TOWARD SELF-RELIANCE. ARK PROFESSIONALS, VOLUNTEERS, AND DONORS PROVIDE FREE, COMPREHENSIVE SERVICES WITHIN A FRAMEWORK OF JEWISH VALUES AND LAWS.

Program Service Accomplishments

Program 1

Expenses: $4,723,859

SOCIAL SERVICE ASSISTANCE: PROVIDES CASE MANAGEMENT, FOOD, RENT, UTILITY AND FINANCIAL ASSISTANCE, AND LEGAL AID TO LOW-INCOME INDIVIDUALS AND FAMILIES FROM THE ARK'S HEADQUARTERS IN CHICAGO. 4,200...

Program 2

Expenses: $1,109,922

HOUSING PROGRAM: PROVIDES FINANCIAL ASSISTANCE WITH HOUSING AND UTILITY PAYMENTS TO PREVENT HOMELESSNESS, MANAGE A FEW RENT-REDUCED APARTMENTS, AND ASSISTS WITH TEMPORARY HOTEL STAYS DURING CRISIS...

HOUSING PROGRAM: PROVIDES FINANCIAL ASSISTANCE WITH HOUSING AND UTILITY PAYMENTS TO PREVENT HOMELESSNESS, MANAGE A FEW RENT-REDUCED APARTMENTS, AND ASSISTS WITH TEMPORARY HOTEL STAYS DURING CRISIS. 544 CLIENTS SERVED.

Program 3

Expenses: $541,029

INTENSIVE DAY PROGRAM: ADDRESSES THE NEEDS OF INDIVIDUALS WHO SUFFER FROM CHRONIC MENTAL ILLNESS. OVERSEES CLIENTS' HOUSING AND BUDGETING, OFFERS FAMILY SUPPORT; PROVIDES THERAPEUTIC CLASSES, GROUP...

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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 $14,077,297

Program Service Revenue $0

Investment Income $154,755

Other Revenue $0

TOTAL REVENUE $14,232,052

Expense Breakdown

Grants Paid $1,621,772

Salaries & Benefits $6,125,577

Fundraising Expenses $1,470,921

Program Expenses $8,809,620

Other Expenses $4,265,420

TOTAL EXPENSES $12,012,769

Year-over-Year Comparison

	2024	2023	Change
Revenue	$14,232,052	$11,209,938	+0.3%
Expenses	$12,012,769	$10,864,021	+0.1%
Net Income	$2,219,283	$345,917	+5.4%

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

4284

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

$520,061

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Ari Goldsmith	Vice President	1.0	Officer Director	$0	$0	$0
Dr Allan Malmed	Board Chairman	1.0	Officer Director	$0	$0	$0
Glenn Garfinkel	Vice President	1.0	Officer Director	$0	$0	$0
Joshua Lipman	Treasurer	1.0	Officer Director	$0	$0	$0
Karyn Silverstein	Secretary	1.0	Officer Director	$0	$0	$0
Leonard Rubin	Executive Vice President	1.0	Officer Director	$0	$0	$0
Steven Blonder	Board Chairman	1.0	Officer Director	$0	$0	$0
Steven Handmaker	President	1.0	Officer Director	$0	$0	$0
Alan Polansky	Director	1.0	Director	$0	$0	$0
Alan Sear	Director	1.0	Director	$0	$0	$0
Amy Feldman	Director	1.0	Director	$0	$0	$0
Andrew Lucas	Director	1.0	Director	$0	$0	$0
Anthony Brown	Director	1.0	Director	$0	$0	$0
April Victor	Director	1.0	Director	$0	$0	$0
Benjamin Klein	Director	1.0	Director	$0	$0	$0
Daniel Katz	Director	1.0	Director	$0	$0	$0
David Strulowitz	Director	1.0	Director	$0	$0	$0
Debbi Spungen	Director	1.0	Director	$0	$0	$0
Debbie Hartman	Director	1.0	Director	$0	$0	$0
Dina Isaacs	Director	1.0	Director	$0	$0	$0
Edy Kupietzky	Director	1.0	Director	$0	$0	$0
Francine Brown	Director	1.0	Director	$0	$0	$0
Gila Robinson	Director	1.0	Director	$0	$0	$0
Irving Birnabum	Director	1.0	Director	$0	$0	$0
Jeffrey Piell	Director	1.0	Director	$0	$0	$0
Jill Hirsch	Director	1.0	Director	$0	$0	$0
Judy Zagorin	Director	1.0	Director	$0	$0	$0
Ken Weissman	Director	1.0	Director	$0	$0	$0
Kim Shwachman	Director	1.0	Director	$0	$0	$0
Larry Goldstein	Director	1.0	Director	$0	$0	$0
Lauren Lustbader	Director	1.0	Director	$0	$0	$0
Laurie Leibowitz	Director	1.0	Director	$0	$0	$0
Lew Leibowitz	Director	1.0	Director	$0	$0	$0
Linda Price	Director	1.0	Director	$0	$0	$0
Michael Philipp	Director	1.0	Director	$0	$0	$0
Michael Shechtman	Director	1.0	Director	$0	$0	$0
Michael Zaransky	Director	1.0	Director	$0	$0	$0
Michelle Klein	Director	1.0	Director	$0	$0	$0
Miriya Dayan	Director	1.0	Director	$0	$0	$0
Missy Malmed	Director	1.0	Director	$0	$0	$0
Nathan Block	Director	1.0	Director	$0	$0	$0
Peter Levy	Director	1.0	Director	$0	$0	$0
Raphaela Stern	Director	1.0	Director	$0	$0	$0
Reuven Brand	Director	1.0	Director	$0	$0	$0
Rickey Rothener	Director	1.0	Director	$0	$0	$0
Ronald Lavin	Director	1.0	Director	$0	$0	$0
Scott Taxman	Director	1.0	Director	$0	$0	$0
Sharon Berman	Director	1.0	Director	$0	$0	$0
Skip Schrayer	Director	1.0	Director	$0	$0	$0
Stan Diskin	Director	1.0	Director	$0	$0	$0
Todd Lustbader	Director	1.0	Director	$0	$0	$0
Todd Stern	Director	1.0	Director	$0	$0	$0
Wendy Fox	Director	1.0	Director	$0	$0	$0
Will Lennon	Director	1.0	Director	$0	$0	$0
Jeff Blumberg	CFAO	45.0	Officer	$193,563	$9,373	$202,936
Marna Goldwin	CEO	45.0	Officer	$295,559	$21,566	$317,125
Adam Parker	Director of Development	40.0	Highest	$167,609	$14,008	$181,617
Cheryl Davis	Director of Marketing and Communications	40.0	Highest	$138,313	$6,401	$144,714
Elizabeth Evans	Director of Evaluation and Special Projects	40.0	Highest	$135,625	$2,254	$137,879
Howard Dvorin	Pharmacist	40.0	Highest	$117,535	$6,096	$123,631
Oded Gargir	Dentist	40.0	Highest	$142,691	$13,980	$156,671

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	$14,232,052	$12,012,769	$27,401,887	$2,219,283
2024	$11,209,938	$10,864,021	$26,562,245	$345,917
2023	$11,444,894	$9,757,962	$25,990,941	$1,686,932
2022	$16,472,945	$9,073,244	$21,545,028	$7,399,701
2021	$9,993,897	$8,291,218	$15,671,677	$1,702,679
2020	$10,061,669	$7,181,680	$13,699,419	$2,879,989
2019	$9,416,534	$6,824,382	$10,104,987	$2,592,152
2018	$7,782,937	$6,690,970	$7,290,389	$1,091,967