THE ARTS COUNCIL OF ERIE

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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

1960

Legal Domicile

Principal Officer

SUSANNAH FAULKNER

Phone

8144523427

Tax Period

2024-07-01 to 2025-06-30

THE ARTS COUNCIL OF ERIE, founded in 1960, is a small nonprofit in the Arts, Culture & Humanities sector that reported $898K in total revenue in fiscal year 2024. Revenue decreased 20% compared to the prior year. Expenses of $1.3M exceeded revenue, resulting in a 46% operating deficit.

Mission

ERIE ARTS AND CULTURE (EAC) PROVIDES SOCIAL AND FINANCIAL RESOURCES AND SERVICES FOR ARTISTS, ARTS AND CULTURE ORGANIZATIONS, AND CULTURE BEARERS THROUGH ENDOWMENTS AND ITS PARTNERSHIP WITH PENNSYLVANIA COUNCIL ON THE ARTS (PCA). EAC GRANTS FUNDS TO INDIVIDUAL ARTISTS AND ARTS AND CULTURE ORGANIZATIONS THROUGH ITS ENDOWMENTS AND REGRANTING THROUGH ITS PCA PARTNERSHIP. THE PCA PARTNERSHIP ALSO FUNDS LIFELONG LEARNING OPPORTUNITIES FOR PEOPLE OF DIFFERENT AGES AND ABILITIES THROUGH THE ARTS AND LEARNING PROGRAM, AND DOCUMENTS AND PRESERVES DIVERSE CULTURES THROUGH THE FOLK ARTS PROGRAM.

Program Service Accomplishments

Program 1

Expenses: $1,079,932

EAC PROVIDED GRANTS TO INDIVIDUAL ARTISTS, ARTS AND CULTURE ORGANIZATIONS, AND CREATIVE ENTREPRENEURS; PROFESSIONAL DEVELOPMENT OPPORTUNITIES FOR CREATIVE ENTREPRENEURS; WORKSHOPS AND TRAININGS FOR TEACHING ARTISTS; ARTS EDUCATION OPPORTUNITIES FOR PEOPLE OF ALL AGES, BACKGROUNDS, AND ABILITIES; SUPPORT FOR NEW AMERICAN AND REFUGEE-OWNED SMALL BUSINESSES; DOCUMENTED DIVERSE CULTURES; AND MARKETING SUPPORT FOR ARTS AND CULTURE INITIATIVES IN THE COMMUNITY.

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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 $661,897

Program Service Revenue $37,315

Investment Income $198,667

Other Revenue $0

TOTAL REVENUE $897,879

Expense Breakdown

Grants Paid $634,447

Salaries & Benefits $313,426

Fundraising Expenses $75,984

Program Expenses $1,079,932

Other Expenses $361,593

TOTAL EXPENSES $1,309,466

Year-over-Year Comparison

	2024	2023	Change
Revenue	$897,879	$1,122,155	-0.2%
Expenses	$1,309,466	$1,228,197	+0.1%
Net Income	$-411,587	$-106,042	+2.9%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANTHONY DABREO	BOARD MEMBER	2.00	Director	$0	$0	$0
MATTHEW FLOWERS	BOARD MEMBER	2.00	Director	$0	$0	$0
PAULA GREGORY	TREASURER	2.00	Officer Director	$0	$0	$0
MABEL HOWARD	BOARD MEMBER	2.00	Director	$0	$0	$0
LAUREN SALA JD	BOARD MEMBER	2.00	Director	$0	$0	$0
PEGGY LAUGHLIN	BOARD MEMBER	2.00	Director	$0	$0	$0
MONA KANG MD	BOARD MEMBER	2.00	Director	$0	$0	$0
ADRECIA MILSAP	SECRETARY	2.00	Officer Director	$0	$0	$0
TIM PALOCHAK	BOARD MEMBER	2.00	Director	$0	$0	$0
LORI LINDLEY PHD	VICE CHAIR	2.00	Officer Director	$0	$0	$0
MICHELLE BUTLER PHD	CHAIR	5.00	Officer Director	$0	$0	$0
SHREELINA GHOSH PHD	BOARD MEMBER	2.00	Director	$0	$0	$0
MATTHEW TOLBERT	BOARD MEMBER	2.00	Director	$0	$0	$0
CHAD TUCKER	BOARD MEMBER	2.00	Director	$0	$0	$0
SUSANNAH FAULKNER	EXECUTIVE DI	40.00	Officer	$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	$897,879	$1,309,466	$4,826,143	$-411,587
2024	$1,122,155	$1,228,197	$4,971,950	$-106,042
2023	$1,470,612	$1,488,032	$4,787,890	$-17,420
2022	$1,062,990	$989,413	$4,471,781	$73,577
2021	$1,212,720	$918,557	$5,070,058	$294,163
2020	$927,809	$1,181,604	$4,146,176	$-253,795
2019	$1,259,661	$1,205,651	$4,245,536	$54,010
2018	$1,115,862	$1,055,259	$4,232,353	$60,603