THE ART GARAGE

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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

Katie Moran

Phone

3033772353

Tax Period

2024-01-01 to 2024-12-31

THE ART GARAGE, founded in 2009, is a small nonprofit in the Arts, Culture & Humanities sector that reported $936K in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion.

Mission

The Art Garage's mission is to offer visual arts-based programs that inspire, empower, and promote creative self-expression by people of all ages and backgrounds. On-site and off-site studio workshops and exhibitions engage the greater Denver community and outreach is provided to those who are underserved and marginalized to ensure the artistic process is fully accessible and inclusive.

Program Service Accomplishments

Program 1

Expenses: $595,256 Revenue: $578,381

Art classes are taught on and off-site to children, teens and adults awakening and encouraging their creativity. $32,128.00 of scholarships were provided for students demonstrating financial need.

Program 2

Expenses: $58,770 Revenue: $9,648

The Art Garage provides art classes to public schools with high numbers of children qualifying for free or reduced lunches with little or no cost to families. Some of these programs are grant funded.

Program 3

Expenses: $19,399 Revenue: $13,774

The Art Garage Community Engagement Programs (CEP) support creative expression within individuals and communities by providing art based workshops that heal, inspire and empower people who are...

The Art Garage Community Engagement Programs (CEP) support creative expression within individuals and communities by providing art based workshops that heal, inspire and empower people who are underserved or with developmental, intellectual, mental or physical disabilities. The Art Garage has successfully collaborated with schools, disability organizations, behavioral health partners, residential treatment centers and day habilitation programs. Workshops are conducted in a safe and nonjudgmental environment on site at our studio or at a partner location, encouraging exploration and experimentation of art materials and the discovery of one's unique visual language with the intention of improving self esteem, identity and personal transformation through creative self expression.

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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 $307,177

Program Service Revenue $630,076

Investment Income $240

Other Revenue $-1,652

TOTAL REVENUE $935,841

Expense Breakdown

Grants Paid $0

Salaries & Benefits $740,687

Fundraising Expenses $94,119

Program Expenses $727,241

Other Expenses $219,035

TOTAL EXPENSES $959,722

Year-over-Year Comparison

	2024	2023	Change
Revenue	$935,841	$832,309	+0.1%
Expenses	$959,722	$815,944	+0.2%
Net Income	$-23,881	$16,365	-2.5%

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

$88,125

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Marcia Donziger Canopy Advsr Group	Interim Executive Director	20	Officer	$88,125	$0	$88,125
Lori Goldstein	President	6	Director	$0	$0	$0
Tess Ireland Hallinan	President-elect	2	Director	$0	$0	$0
Paige Hardle	Treasurer	2	Director	$0	$0	$0
Brandon Minch	Secretary	4	Director	$0	$0	$0
Linda Brown	Board Member & CFO	5	Director	$0	$0	$0
Rochelle Johnson	Board Member	2	Director	$0	$0	$0
Tonya Quinn	Board Member	2	Director	$0	$0	$0
Lindsay Leuthold	Board Member	2	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	$935,841	$959,722	$246,679	$-23,881
2023	$832,309	$815,944	$267,926	$16,365
2022	$774,416	$692,535	$260,769	$81,881
2021	$504,088	$435,841	$195,030	$68,247
2020	$339,581	$370,519	$113,418	$-30,938
2019	$469,323	$455,980	$117,089	$13,343
2018	$404,333	$405,131	$103,357	$-798