ArtPrize Grand Rapids

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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

Daryn Kuipers

Phone

6162147910

Tax Period

2023-01-01 to 2023-12-31

ArtPrize Grand Rapids, founded in 2009, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $10K in total revenue in fiscal year 2023. Revenue fell 99% from the prior year — a significant decline worth monitoring. Expenses of $48K exceeded revenue, resulting in a 393% operating deficit.

Mission

ARTPRIZE PRODUCES OPEN CITYWIDE CONTEMPORARY ART EXPERIENCES THAT ENCOURAGE CRITICAL DISCOURSE, CELEBRATE ARTISTS, TRANSFORM URBAN SPACE AND PROMOTE CULTURAL UNDERSTANDING.

Program Service Accomplishments

Program 1

Revenue: $6,178

There was no ArtPrize event in 2023.

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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 $17

Program Service Revenue $6,178

Investment Income $3,545

Other Revenue $0

TOTAL REVENUE $9,740

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $48,025

TOTAL EXPENSES $48,025

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,740	$1,940,249	-1.0%
Expenses	$48,025	$1,796,936	-1.0%
Net Income	$-38,285	$143,313	-1.3%

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

N/A

Volunteers

N/A

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
RICHARD M DEVOS III	PRESIDENT/DIRECTOR	6.0	Officer Director	$0	$0	$0
daryn kuipers	treasurer	1.0	Officer Director	$0	$0	$0
JIM ZWIERS	DIRECTOR	1.0	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	No data	No data	No data	No data
2023	$9,740	$48,025	$686,419	$-38,285
2022	$1,940,249	$1,796,936	$721,757	$143,313
2021	$2,849,118	$1,918,314	$1,087,754	$930,804
2020	$621,220	$927,225	$1,058,801	$-306,005
2019	$2,363,113	$2,599,853	$867,307	$-236,740
2018	$3,323,470	$3,166,651	$615,803	$156,819