PATCHOGUE ARTS COUNCIL INC

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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

Lori Devlin

Phone

6316278686

Tax Period

2024-01-01 to 2024-12-31

PATCHOGUE ARTS COUNCIL INC, founded in 2008, is a small nonprofit in the Arts, Culture & Humanities sector that reported $605K in total revenue in fiscal year 2024. Expenses of $670K exceeded revenue, resulting in a 11% operating deficit.

Mission

To support, promote and encourage the arts through exhibits, public art, education and lectures with a focus on community engagement.

Program Service Accomplishments

Program 1

Expenses: $342,026 Revenue: $355,767

PEACE (Partners in Education, Arts, & Community Empowerment) is a US Department of Education funded project which empowers educators and cultural partners in Suffolk county middle and high schools to make more effective use of the arts for under-represented students through College, Career, and Civic Readiness (CCCR) and Culturally Responsive-Sustaining education (CR-S). It brings teachers & cultural partners together for arts-based professional development in an annual summer institute, a monthly online community of practice, and monthly cultural gatherings called "PEACE Outs" to tackle issues of teaching and learning through the arts and raising up the voices and needs of underrepresented learners.

Program 2

Expenses: $60,599 Revenue: $48,409

MoCA L.I.ghts, is a light projection festival which takes place each autumn over a long weekend whereby artist work is projected on iconic buildings utilizing a mapping technology that allows the...

MoCA L.I.ghts, is a light projection festival which takes place each autumn over a long weekend whereby artist work is projected on iconic buildings utilizing a mapping technology that allows the artist to marry the work to the topography of the building. It takes place in downtown Patchogue Village. Artwork. Works are also presented on the historic theatre marquee and in other outdoor night gallery locations.

Program 3

Expenses: $36,730 Revenue: $1,145

Arts on Terry (AOT) is an annual contemporary art fair for all ages held on Terry Street, Patchogue's official arts district. The fair highlights 300+ artists with 35+ solo artist booths, 20+...

Arts on Terry (AOT) is an annual contemporary art fair for all ages held on Terry Street, Patchogue's official arts district. The fair highlights 300+ artists with 35+ solo artist booths, 20+ live-painters, 17+ organizations ( museums & organizations), and 17+ street artists as well as a full day of demonstrations, family-friendly activities, live music, poetry, and other performances. This event is free to the public.

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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 $581,039

Program Service Revenue $21,845

Investment Income $0

Other Revenue $2,202

TOTAL REVENUE $605,086

Expense Breakdown

Grants Paid $0

Salaries & Benefits $119,110

Fundraising Expenses $10,218

Program Expenses $536,195

Other Expenses $550,937

TOTAL EXPENSES $670,047

Year-over-Year Comparison

	2024	2023	Change
Revenue	$605,086	$577,226	+0.0%
Expenses	$670,047	$555,973	+0.2%
Net Income	$-64,961	$21,253	-4.1%

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

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

$97,386

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Beth Giacummo	Executive Director	65	Key Emp	$97,386	$0	$97,386
Lori Devlin	Chairwoman	6	Officer Director	$0	$0	$0
Jennifer Berotti	First Vice President & Trustee	2	Officer Director	$0	$0	$0
Jessica Valentin	Second Vice President & Trustee	2	Officer Director	$0	$0	$0
Dr Thomas Ferb	Trustee	3	Director	$0	$0	$0
Edward Schmieder	Trustee	3	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	$605,086	$670,047	$244,691	$-64,961
2023	$577,226	$555,973	$189,549	$21,253
2022	$499,918	$467,869	$157,207	$32,049