701 Center for Contemporary Art

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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

2007

Legal Domicile

Principal Officer

Ken May

Phone

8033199949

Tax Period

2023-07-01 to 2024-06-30

701 Center for Contemporary Art, founded in 2007, is a small nonprofit in the Arts, Culture & Humanities sector that reported $218K in total revenue in fiscal year 2023. The organization ran a surplus of $41K, a strong 19% operating margin.

Mission

701 CCA promotes the understanding and appreciation of contemporary art, the creative process, and the role of art in the community. 701 CCA advances contemporary art through programming, events, education, and providing studio and exhibition space for artists in residence as a creative environment, and promotes interaction between artist and members of the community through exhibitions, lectures, and workshops.

Program Service Accomplishments

Program 1

Expenses: $144,571

for a detailed list of program service accomplishments completed within the 2023/2024 fiscal year.

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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 $204,046

Program Service Revenue $14,088

Investment Income $0

Other Revenue $0

TOTAL REVENUE $218,134

Expense Breakdown

Grants Paid $0

Salaries & Benefits $13,010

Fundraising Expenses $0

Program Expenses $144,571

Other Expenses $164,211

TOTAL EXPENSES $177,221

Year-over-Year Comparison

	2023	2022	Change
Revenue	$218,134	$224,014	0.0%
Expenses	$177,221	$186,340	0.0%
Net Income	$40,913	$37,674	+0.1%

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

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Maria Sophocleous	Treasurer	2.00	Officer Director	$0	$0	$0
Ken May	Chairman	7.00	Officer Director	$0	$0	$0
Mike Harris	Vice Chair	3.00	Officer Director	$0	$0	$0
Stuart Andrews	Director	1.00	Director	$0	$0	$0
Gladys Coles	Secretary	5.00	Officer Director	$0	$0	$0
Barbara Fischer	Director	1.00	Director	$0	$0	$0
Doug Quackenbush	Director	1.00	Director	$0	$0	$0
Harlow Tighe	Director	3.00	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	No data	No data	No data	No data
2024	$218,134	$177,221	$108,791	$40,913
2023	$224,014	$186,340	$77,234	$37,674