Turrell Art Foundation (EIN 262635896) - 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

2008

Legal Domicile

Principal Officer

James A Turrell

Phone

9173994796

Tax Period

2024-07-01 to 2025-06-30

Turrell Art Foundation, founded in 2008, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.7M in total revenue in fiscal year 2024. Revenue fell 31% from the prior year — a significant decline worth monitoring. Expenses of $3.3M exceeded revenue, resulting in a 103% operating deficit.

Mission

To support the realization and stewardship of the Roden Crater project, including the protection and conservation of surrounding lands, dark skies, and viewshed, as well as own a significant portion of James Turrells art work and serve as a repository to hold, preserve, and manage all of his archives.

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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 $173,874

Program Service Revenue $0

Investment Income $1,461,222

Other Revenue $15,000

TOTAL REVENUE $1,650,096

Expense Breakdown

Grants Paid $400

Salaries & Benefits $397,506

Fundraising Expenses $19,876

Program Expenses $2,746,876

Other Expenses $2,946,197

TOTAL EXPENSES $3,344,103

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,650,096	$2,374,240	-0.3%
Expenses	$3,344,103	$12,593,365	-0.7%
Net Income	$-1,694,007	$-10,219,125	-0.8%

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
Michael Govan	Vice President	1.00	Officer Director	$0	$0	$0
James A Turrell	President	20.00	Officer Director	$0	$0	$0
Kyung-Lim Lee Turrell	Treasurer	20.00	Officer Director	$0	$0	$0
Richard Andrews	Secretary	1.00	Officer Director	$0	$0	$0
Joe Thompson	Director	1.00	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	$1,650,096	$3,344,103	$107,156,714	$-1,694,007
2024	$2,374,240	$12,593,365	$108,680,553	$-10,219,125
2023	$11,410,565	$1,048,616	$118,891,409	$10,361,949
2022	$25,109,697	$1,049,899	$108,531,237	$24,059,798
2021	$27,051,414	$626,135	$84,539,675	$26,425,279
2020	$26,097,015	$486,569	$58,656,861	$25,610,446
2019	$28,633,221	$247,800	$32,802,020	$28,385,421

Turrell Art Foundation