THE RIDGEWOOD ART INSTITUTE 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

1945

Legal Domicile

Principal Officer

CARL HOLST

Phone

2016529615

Tax Period

2023-06-01 to 2024-05-31

THE RIDGEWOOD ART INSTITUTE INC, founded in 1945, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $56K in total revenue in fiscal year 2023. Expenses of $70K exceeded revenue, resulting in a 25% operating deficit.

Mission

PROMOTING COMMUNITY INTEREST IN AND DEVELOPING EDUCATION AND SKILLS PROGRAMS FOR THE FINE ARTS.

Program Service Accomplishments

Program 1

Expenses: $54,142 Revenue: $10,196

THE ORGANIZATION CONDUCTS MULTIPLE ART INSTRUCTION AND EDUCATION CLASSES TO PROMOTE COMMUNITY INTEREST, DEVELOP EDUCATION, AND SKILLS PROGRAMS IN THE ARTS. THE ACTIVITIES CONDUCTED DURING THE YEAR...

THE ORGANIZATION CONDUCTS MULTIPLE ART INSTRUCTION AND EDUCATION CLASSES TO PROMOTE COMMUNITY INTEREST, DEVELOP EDUCATION, AND SKILLS PROGRAMS IN THE ARTS. THE ACTIVITIES CONDUCTED DURING THE YEAR INCLUDE JURIED SHOW, MEMBERS' HOLIDAY SHOW, PERMANENT COLLECTION, RAI CLASS SHOWS, YOUNG PEOPLE'S SHOW, MEMBERS' SUMMER SHOW, MEMBERS' PLEIN AIR SHOW, PLEIN AIR EVENT, INSTRUCTOR SHOW, DEMONSTRATIONS AND ART TALKS, RENTAL OF GALLERIES, SUMMER SESSIONS, WORKSHOPS, TIC TOC (TO INTRODUCE CULTURE TO OUR CHILDREN), AND REGULAR SCHEDULED CLASSES.

Program 2

Expenses: $5,575 Revenue: $0

THE ORGANIZATION PROVIDES SCHOLARSHIPS TO COMMITTED YOUNG MEMBERS WHO WILL CONTINUE THEIR EDUCATION IN THE ARTS FIELD. SCHOLARSHIPS ARE ALSO GIVEN TO NON-MEMBERS IN AN EFFORT TO FOSTER AN INTEREST IN...

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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 $44,117

Program Service Revenue $10,196

Investment Income $7

Other Revenue $1,861

TOTAL REVENUE $56,181

Expense Breakdown

Grants Paid $5,575

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $59,717

Other Expenses $64,410

TOTAL EXPENSES $69,985

Year-over-Year Comparison

	2023	2022	Change
Revenue	$56,181	$57,083	0.0%
Expenses	$69,985	$82,182	-0.1%
Net Income	$-13,804	$-25,099	-0.5%

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
CARL HOLST	PRESIDENT	10.00	Officer Director	$0	$0	$0
EDWARD GALENKAMP	VICE PRESIDENT, THRU 06/04/2024	6.00	Officer Director	$0	$0	$0
REBECCA LEER	SECRETARY	8.00	Officer Director	$0	$0	$0
WARREN TRENT	TREASURER	8.00	Officer Director	$0	$0	$0
MARY MANCUSO	ASSISTANT TREASURER	2.00	Officer Director	$0	$0	$0
SUZANNA BOCHET	TRUSTEE, EFF 05/19/2024	2.00	Director	$0	$0	$0
RANDY CARROLL	TRUSTEE, EFF 05/19/2024	2.00	Director	$0	$0	$0
PAUL ENGLANDER	TRUSTEE, EFF 11/06/2023	2.00	Director	$0	$0	$0
DEBORAH GERSONY	TRUSTEE. THRU 06/06/2024	2.00	Director	$0	$0	$0
JOHN HENDERSON	TRUSTEE	2.00	Director	$0	$0	$0
BARBARA JOHANSEN	TRUSTEE, THRU 12/31/2023	2.00	Director	$0	$0	$0
DIANA LI	TRUSTEE, THRU 06/01/2023	2.00	Director	$0	$0	$0
PATTY NEBBELING	TRUSTEE, THRU 09/01/2023	2.00	Director	$0	$0	$0
JAMES NOCILLA	TRUSTEE	2.00	Director	$0	$0	$0
LAURA PARAY	TRUSTEE	2.00	Director	$0	$0	$0
BETH RAVIT	TRUSTEE, EFF 05/19/2024	2.00	Director	$0	$0	$0
BRIDGET TRENT	TRUSTEE	2.00	Director	$0	$0	$0
ELENA TAYLOR	TRUSTEE	2.00	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	$56,181	$69,985	$520,160	$-13,804
2023	$57,083	$82,182	$533,964	$-25,099
2022	$78,070	$101,103	$559,063	$-23,033
2021	$59,823	$80,686	$587,815	$-20,863