THE MILFORD FINE ARTS COUNCIL INC (EIN 237401211) - 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

1972

Legal Domicile

Principal Officer

PAIGE MIGLIO

Phone

2038786647

Tax Period

2024-07-01 to 2025-06-30

THE MILFORD FINE ARTS COUNCIL INC, founded in 1972, is a small nonprofit that reported $427K in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

THE MILFORD ARTS COUNCIL SHALL SUPPORT AND FOSTER ARTISTIC, CULTURAL AND EDUCATIONAL OPPORTUNITIES FOR THE BENEFIT OF THE GREATER MILFORD COMMUNITY THROUGH THE CREATION OF ENVIRONMENTS AND PROGRAMS FOR ARTISTS TO WORK, PRESENT, AND ENCOURAGE THE PROMOTION, DEVELOPMENT, ACCEPTANCE AND APPRECIATION OF THE ARTS.

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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 $175,562

Program Service Revenue $214,144

Investment Income $0

Other Revenue $36,917

TOTAL REVENUE $426,623

Expense Breakdown

Grants Paid $0

Salaries & Benefits $194,578

Fundraising Expenses $0

Program Expenses $336,157

Other Expenses $258,903

TOTAL EXPENSES $453,481

Year-over-Year Comparison

	2024	2023	Change
Revenue	$426,623	$392,050	+0.1%
Expenses	$453,481	$400,720	+0.1%
Net Income	$-26,858	$-8,670	+2.1%

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

Volunteers

100

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

$54,638

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JACQUELINE MUNK	CHAIRPERSON	0.50	Officer Director	$0	$0	$0
JOSEPH MAGER III	VICE CHAIRPERSON	0.50	Officer Director	$0	$0	$0
MARTHA BODGUSKI	TREASURER	0.50	Officer Director	$0	$0	$0
ELIZA HOLCOMB	BOARD MEMBER	0.50	Director	$0	$0	$0
MEGAN LAUDENSLAGER	BOARD MEMBER	0.50	Director	$0	$0	$0
RICHARD LOPRESTI	BOARD MEMBER	0.50	Director	$0	$0	$0
TIMOTHY TOPALIAN	BOARD MEMBER	0.50	Director	$0	$0	$0
BETSY BANKS	SECRETARY	0.50	Officer Director	$0	$0	$0
PATRICIA DECKER	BOARD MEMBER	0.50	Director	$0	$0	$0
LACY DAIGLE	BOARD MEMBER	0.50	Director	$0	$0	$0
ROBIN KRAMER	BOARD MEMBER	0.50	Director	$0	$0	$0
KIKO HERNANDEZ	BOARD MEMBER	0.50	Director	$0	$0	$0
STEVE GLASER	BOARD MEMBER	0.50	Director	$0	$0	$0
PAIGE MIGLIO	EXECUTIVE DIRECTOR	30.00	Officer	$54,638	$0	$54,638

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	$426,623	$453,481	$493,653	$-26,858
2024	$392,050	$400,720	$521,886	$-8,670
2023	$379,879	$340,450	$532,597	$39,429
2022	$265,050	$304,662	$491,634	$-39,612
2021	$378,681	$252,587	$532,480	$126,094
2020	$309,412	$287,607	$397,192	$21,805
2019	$278,357	$300,364	$393,259	$-22,007
2018	$307,681	$296,628	$431,520	$11,053

THE MILFORD FINE ARTS COUNCIL INC