THE SOCIETY FOR ART IN CRAFTS

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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

1979

Legal Domicile

Principal Officer

RACHEL REARICK

Phone

4122617003

Tax Period

2024-07-01 to 2025-06-30

THE SOCIETY FOR ART IN CRAFTS, founded in 1979, is a community nonprofit that reported $4.6M in total revenue in fiscal year 2024. Revenue surged 270% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.9M, a strong 63% operating margin.

Mission

TO ENGAGE THE PUBLIC IN THE CREATIVE EXPERIENCE THROUGH CONTEMPORARY CRAFT.

Program Service Accomplishments

Program 1

Expenses: $320,100 Revenue: $12,619

CONTEMPORARY CRAFT IS ONE OF THE FEW ARTS ORGANIZATIONS IN THE REGION WHOSE CORE PROGRAM - ITS EXHIBITIONS OF WORK BY TOP NATIONAL AND INTERNATIONAL CONTEMPORARY ARTISTS - IS FREE TO THE PUBLIC...

CONTEMPORARY CRAFT IS ONE OF THE FEW ARTS ORGANIZATIONS IN THE REGION WHOSE CORE PROGRAM - ITS EXHIBITIONS OF WORK BY TOP NATIONAL AND INTERNATIONAL CONTEMPORARY ARTISTS - IS FREE TO THE PUBLIC. SINCE CONTEMPORARY CRAFT DOES NOT CHARGE ADMISSION, EVERY VISITOR WHO WALKS THROUGH THE DOOR, INCLUDING AUDIENCES FOR WHOM FEES MAY BE A BARRIER TO THEIR ATTENDANCE AND/OR PARTICIPATION, HAS THE OPPORTUNITY TO DIRECTLY INTERACT WITH AND EXPERIENCE HIGH-QUALITY CONTEMPORARY ART. EACH YEAR, CONTEMPORARY CRAFT PRODUCES 3 EXHIBITIONS AT ITS MAIN GALLERY; 3-4 SMALL SCALE EXHIBITIONS IN ITS GERRI KAY EXHIBITION CASES; AND 1-4 TRAVELING EXHIBITIONS AT ANY GIVEN TIME. MANY ITEMS IN THE GALLERIES ARE AVAILABLE FOR SALE.

Program 2

Expenses: $506,858 Revenue: $182,948

CONTEMPORARY CRAFT'S EDUCATION STUDIO HAS THREE LARGE STUDIOS THAT OFFER CLASSES AND WORKSHOPS TAUGHT BY NATIONAL, REGIONAL AND LOCAL ARTISTS, ALONG WITH A FREE DROP IN STUDIO WHERE VISITORS CAN MAKE ART AT ANY TIME TO TAKE HOME WITH THEM. A VIBRANT NATIONALLY BASED ARTS PROGRAM, FULLY INTEGRATED INTO THE EXHIBITIONS PROGRAM, IS CENTRAL TO CONTEMPORARY CRAFT'S DEFINITION OF ARTISTIC AND CULTURAL QUALITY AS WELL AS TO ITS ABILITY TO SUCCESSFULLY CARRY OUT ITS MISSION AND BUILD FUTURE AUDIENCES. IN ADDITION TO REGULAR EDUCATION PROGRAMS, CONTEMPORARY CRAFT ENGAGES COMMUNITY PARTNERS AND HOSTS VARIOUS PUBLIC PROGRAMS THAT ARE AVAILABLE TO INDIVIDUAL MEMBERS OR COMMUNITY ORGANIZATIONS WHO MAY NOT HAVE ACCESS TO QUALITY ARTS PROGRAMMING.

Program 3

Expenses: $225,261 Revenue: $50,423

CONTEMPORARY CRAFT'S DISTINCTIVE RETAIL SPACE, THE STORE, REPRESENTS THE WORK OF TOP REGIONAL, NATIONAL AND INTERNATIONAL ARTISTS. PROCEEDS FROM THE STORE HELP SUPPORT FREE EXHIBITION, EDUCATION AND OUTREACH PROGRAMS, AS WELL AS THE PARTICIPATING ARTISTS. THE STORE IS ALSO DESIGNED TO BE AN EXTENSION OF THE GALLERY, OFTEN SHOWING LARGER, MORE COMMERCIAL BODIES OF WORK BY ARTISTS FEATURED IN THE CURRENT EXHIBITION, AND ALWAYS FOCUSED ON EDUCATING VISITORS ABOUT ARTISTS AND THEIR CREATIVE PROCESSES.

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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 $3,990,020

Program Service Revenue $182,949

Investment Income $328,348

Other Revenue $69,564

TOTAL REVENUE $4,570,881

Expense Breakdown

Grants Paid $0

Salaries & Benefits $862,557

Fundraising Expenses $196,166

Program Expenses $1,052,219

Other Expenses $831,184

TOTAL EXPENSES $1,700,954

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,570,881	$1,235,876	+2.7%
Expenses	$1,700,954	$1,285,115	+0.3%
Net Income	$2,869,927	$-49,239	-59.3%

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

$116,317

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALEXANDER NEAL	CHAIR	2.00	Officer Director	$0	$0	$0
DAVID ZEVE	TREASURER	2.00	Officer Director	$0	$0	$0
LISA BELLOLI	SECRETARY	2.00	Officer Director	$0	$0	$0
LESLIE FLEISHER	DIRECTOR	2.00	Director	$0	$0	$0
PATRICIA A SHEAHAN	DIRECTOR	2.00	Director	$0	$0	$0
JENEE' OLIVER	DIRECTOR	2.00	Director	$0	$0	$0
MICHELE O'LEARY	DIRECTOR	2.00	Director	$0	$0	$0
MATT NEISTEIN	DIRECTOR	2.00	Director	$0	$0	$0
RISE NAGIN	DIRECTOR	2.00	Director	$0	$0	$0
MOUNIR KASHKOUSH	DIRECTOR	2.00	Director	$0	$0	$0
TRACY JOHNSTON	DIRECTOR	2.00	Director	$0	$0	$0
EMMA WALLIS JONES	DIRECTOR	2.00	Director	$0	$0	$0
MARY ELLEN JOHNSON	DIRECTOR	2.00	Director	$0	$0	$0
CHRISTOPHER GUIGNON	DIRECTOR	2.00	Director	$0	$0	$0
GRETCHEN GIVENS GENERETT	DIRECTOR	2.00	Director	$0	$0	$0
LORENE VINSKI	DIRECTOR	2.00	Director	$0	$0	$0
DOMENIC DOZZI	DIRECTOR	2.00	Director	$0	$0	$0
DEREK DAUPHIN	DIRECTOR	2.00	Director	$0	$0	$0
DARLA CRAVOTTA	DIRECTOR	2.00	Director	$0	$0	$0
CAPPY COUNARD	DIRECTOR	2.00	Director	$0	$0	$0
ALEXANDER CO	DIRECTOR	2.00	Director	$0	$0	$0
MELANIE CLAXTON	DIRECTOR	2.00	Director	$0	$0	$0
NINA MARIE BARBUTO	DIRECTOR	2.00	Director	$0	$0	$0
SUSAN GOLOMB	DIRECTOR	2.00	Director	$0	$0	$0
VERNELLE NOEL	DIRECTOR	2.00	Director	$0	$0	$0
MINETTE VACCARIELLO	DIRECTOR	2.00	Director	$0	$0	$0
BRADLEY WILKINS	DIRECTOR	2.00	Director	$0	$0	$0
RACHEL REARICK	EXECUTIVE DIRECTOR	40.00	Officer	$109,584	$6,733	$116,317

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	$4,570,881	$1,700,954	$13,758,123	$2,869,927
2024	$1,235,876	$1,285,115	$9,232,142	$-49,239
2023	$1,676,072	$1,239,873	$9,041,719	$436,199
2022	$1,193,962	$1,200,308	$8,509,040	$-6,346
2021	$1,230,942	$1,036,250	$8,771,016	$194,692
2020	$3,985,714	$914,431	$8,699,117	$3,071,283
2019	$2,321,517	$788,326	$4,958,242	$1,533,191