I-PARK FOUNDATION 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

2009

Legal Domicile

Principal Officer

RALPH CRISPINO JR

Phone

8608732468

Tax Period

2023-01-01 to 2023-12-31

I-PARK FOUNDATION INC, founded in 2009, is a small nonprofit in the Arts, Culture & Humanities sector that reported $498K in total revenue in fiscal year 2023. Revenue grew 19% year-over-year, indicating healthy expansion.

Mission

Nurturing artists and the creative process through its international artists-in-residence program, the aesthetic engagement of its natural environment and community programming.

Program Service Accomplishments

Program 1

Expenses: $360,310 Revenue: $11,081

I-Park's core activity is its General Residency Program. Mixed-discipline groups, 6-8 artists at a time, spend a month together at the I-Park facility. In 2023, I-Park sponsored 50...

I-Park's core activity is its General Residency Program. Mixed-discipline groups, 6-8 artists at a time, spend a month together at the I-Park facility. In 2023, I-Park sponsored 50 artists-in-residence. The residency season ran from May through November. The artists are provided with a private bedroom, private studio, meals program, workshop and other shared spaces, enthusiastic staff support and open access to an expansive, varied natural landscape with miles of art/nature trails. While most participants are primarily devoted to studio practice, many choose to explore the limitless creative potential afforded by the I-Park grounds. In a twist, we folded our biennial Site Responsive Art Program (launched in 2007) into this years General Residency Program. Six artists garnered awards ranging from $1,000 to $5,000 based on the scores of our Interdisciplinary Curatorial Panel.

Program 2

Expenses: $52,402 Revenue: $2,283

Community Engagement at I-Park consists of hosting, mostly free, public events such as Open Studios, where the artists open their studios at the end of their residencies to expose members of the...

Community Engagement at I-Park consists of hosting, mostly free, public events such as Open Studios, where the artists open their studios at the end of their residencies to expose members of the public to their work projects and creative process, Open Trails Days, Volunteers Days, a free Family Day and the hosting groups of school children for bird walks and other art/nature themed events. We also make offsite presentations and partner with other arts organizations in the region to share ideas, expose one another to opportunities in the field and collaborate on public programming for mutual benefit.

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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 $473,758

Program Service Revenue $13,364

Investment Income $11,863

Other Revenue $-1,116

TOTAL REVENUE $497,869

Expense Breakdown

Grants Paid $17,000

Salaries & Benefits $282,129

Fundraising Expenses $35,037

Program Expenses $412,712

Other Expenses $221,116

TOTAL EXPENSES $520,245

Year-over-Year Comparison

	2023	2022	Change
Revenue	$497,869	$416,966	+0.2%
Expenses	$520,245	$353,195	+0.5%
Net Income	$-22,376	$63,771	-1.4%

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

$87,808

Total Directors