VARSITY CENTER FOR THE ARTS INC (EIN 263867053) - 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

Phone

6184575353

Tax Period

2024-01-01 to 2024-12-31

VARSITY CENTER FOR THE ARTS INC, founded in 2008, is a small nonprofit in the Arts, Culture & Humanities sector that reported $330K in total revenue in fiscal year 2024. Revenue surged 281% from the prior year, signaling strong growth momentum. The organization ran a surplus of $215K, a strong 65% operating margin.

Mission

TO ENHANCE THE CULTURAL OPPORTUNITIES FOR THE CITIZENS OF CARBONDALE AND THE SOUTHERN ILLINOIS REGION BY PROVIDING A PUBLIC ART VENUE FOR THE COMMUNITY AND THE REGION.

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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 $259,347

Program Service Revenue $70,486

Investment Income $265

Other Revenue $0

TOTAL REVENUE $330,098

Expense Breakdown

Grants Paid $0

Salaries & Benefits $25,836

Fundraising Expenses $0

Program Expenses $98,176

Other Expenses $89,664

TOTAL EXPENSES $115,500

Year-over-Year Comparison

	2024	2023	Change
Revenue	$330,098	$86,595	+2.8%
Expenses	$115,500	$103,372	+0.1%
Net Income	$214,598	$-16,777	-13.8%

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

N/A

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

$24,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CARA RECINE	Executive Dir.	40.00	Officer	$24,000	$0	$24,000
TRICIA BURNS	Director	1.00	Director	$0	$0	$0
JEFF KEASLER-BIRD	Director	1.00	Director	$0	$0	$0
BRANDYN MCGHEE	Director	1.00	Director	$0	$0	$0
P MICHAEL KIMMEL	Director	1.00	Director	$0	$0	$0
SHAY MILLER	Director	1.00	Director	$0	$0	$0
HEATHER HEASLETT	Director	1.00	Director	$0	$0	$0
NATHAN COLOMBO	Director	2.00	Director	$0	$0	$0
PETER GREGORY	Director	1.00	Director	$0	$0	$0
ARMEN ASATURIAN	Vice President	2.00	Officer	$0	$0	$0
JUSTIN WALKER	Treasurer	4.00	Officer	$0	$0	$0
THOM MITCHELL	Secretary	2.00	Officer	$0	$0	$0
BILL ROBBINS	President	50.00	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
2024	$330,098	$115,500	$544,773	$214,598
2022	$225,257	$99,135	$346,952	$126,122

VARSITY CENTER FOR THE ARTS INC