ARTS COUNCIL OF SNOHOMISH COUNTY

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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

1974

Legal Domicile

Principal Officer

RICH WHITE

Phone

4252595050

Tax Period

2023-01-01 to 2023-12-31

ARTS COUNCIL OF SNOHOMISH COUNTY, founded in 1974, is a community nonprofit that reported $1.9M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. Net assets of $6.4M represent 40 months of operating reserves.

Mission

THE ARTS COUNCIL OF SNOHOMISH COUNTY CELEBRATES AND PROMOTES THE ARTS FOR THE ENHANCEMENT OF THE COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $629,879 Revenue: $558,197

ARTISTS' SUPPORT: ARTISTS ARE PROVIDED OPPORTUNITIES FOR EMPLOYMENT AS INSTRUCTORS, VENUES FOR EXHIBITING/SELLING WORKS IN THE GALLERY, GALLERY STORE, AT FESTIVALS, AND SUPPORT FOR PROFESSIONAL...

ARTISTS' SUPPORT: ARTISTS ARE PROVIDED OPPORTUNITIES FOR EMPLOYMENT AS INSTRUCTORS, VENUES FOR EXHIBITING/SELLING WORKS IN THE GALLERY, GALLERY STORE, AT FESTIVALS, AND SUPPORT FOR PROFESSIONAL DEVELOPMENT. 9 GALLERY EXHIBITIONS ARE PRESENTED EACH YEAR, AND 2 FESTIVALS INVITE INTERACTION WITH THE PUBLIC.

Program 2

Expenses: $262,411 Revenue: $12,481

PRE-K-12 EDUCATION AND OUTREACH: A FULL COMPLEMENT OF SERVICES ARE OFFERED TO STUDENTS AND EDUCATORS INCLUDING ACCREDITED EDUCATOR WORKSHOPS, FIELD TRIPS FOR PRE-K-12 STUDENTS, OUTREACH SUITCASES...

PRE-K-12 EDUCATION AND OUTREACH: A FULL COMPLEMENT OF SERVICES ARE OFFERED TO STUDENTS AND EDUCATORS INCLUDING ACCREDITED EDUCATOR WORKSHOPS, FIELD TRIPS FOR PRE-K-12 STUDENTS, OUTREACH SUITCASES, STUDENT EXHIBITIONS, STUDENT SCHOLARSHIPS AND AWARDS, TEEN NIGHTS, GROUP TOURS, ART ENRICHMENT FOR PRE-SCHOOL TEACHERS AND STUDENTS, PARTNERSHIPS WITH LOCAL SCHOOL DISTRICTS OFFER ART ENRICHMENT AT LOCAL ELEMENTARY SCHOOLS TO INCREASE BEHAVIORAL HEALTH AND ACADEMIC SUCCESS, ART DIVERSION PROGRAMS FOR JUSTICE INVOLVED YOUTH IN PARTNERSHIP WITH DENNY JUVENILE JUSTICE CENTER.

Program 3

Expenses: $785,303 Revenue: $373,921

CLASSES AND WORKSHOPS: SCHACK OFFERS MULTIPLE OPPORTUNITIES FOR DIVERSE MEMBERS OF THE COMMUNITY TO PARTICIPATE IN CLASSES AND WORKSHOPS ON SITE AND AT MULTIPLE COMMUNITY SPACES INCLUDING A LIFETIME LEARNING PROGRAM IN PARTNERSHIP WITH SENIOR CENTERS. SCHOLARSHIPS ARE OFFERED TO LOW INCOME YOUTH TO PARTICIPATE IN CLASSES.

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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 $922,856

Program Service Revenue $944,599

Investment Income $51,561

Other Revenue $0

TOTAL REVENUE $1,919,016

Expense Breakdown

Grants Paid $5,000

Salaries & Benefits $866,249

Fundraising Expenses $85,281

Program Expenses $1,677,593

Other Expenses $1,180,576

TOTAL EXPENSES $2,051,825

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,919,016	$1,751,521	+0.1%
Expenses	$2,051,825	$1,768,966	+0.2%
Net Income	$-132,809	$-17,445	+6.6%

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

200

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
RICH WHITE	PRESIDENT	2.00	Officer Director	$0	$0	$0
JENNIFER MACLEAN	1ST VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
ALBERT CHANG	TREASURER	2.00	Officer Director	$0	$0	$0
LORI SODERBERG	SECRETARY	2.00	Officer Director	$0	$0	$0
DAVID JAMES	2ND VICE PRESIDENT	2.00	Director	$0	$0	$0
WILLIAM ZINGARELLI	DIRECTOR	2.00	Director	$0	$0	$0
GERALD RAPHAEL	DIRECTOR	2.00	Director	$0	$0	$0
WENDY POISCHBEG	DIRECTOR	2.00	Director	$0	$0	$0
TERRI SHINN	DIRECTOR	2.00	Director	$0	$0	$0
JAMES MADISON	DIRECTOR	2.00	Director	$0	$0	$0
COLLEEN TEMPLE	DIRECTOR	2.00	Director	$0	$0	$0
CARLA HADDOW	DIRECTOR	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
2024	No data	No data	No data	No data
2023	$1,919,016	$2,051,825	$7,402,105	$-132,809
2022	$1,751,521	$1,768,966	$7,327,149	$-17,445
2021	$2,433,304	$1,740,679	$7,624,681	$692,625
2020	$1,496,870	$1,495,575	$6,819,904	$1,295
2019	$1,617,729	$1,611,285	$6,789,456	$6,444
2018	$1,466,393	$1,594,094	$6,741,389	$-127,701