OPEN HEARTS ART CENTER INC (EIN 270087282) - 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

2004

Legal Domicile

Phone

8285058428

Tax Period

2024-01-01 to 2024-12-31

OPEN HEARTS ART CENTER INC, founded in 2004, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.1M in total revenue in fiscal year 2024.

Mission

OPEN HEARTS ART CENTER IS SUPPORTIVE STUDIO AND ART GALLERY DEDICATED TO REPRESENTING AND EMPOWERING ADULTS WITH VARIED ABILITIES TO CONNECT TO AND REACH THEIR POTENTIAL THROUGH THE ARTS

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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 $189,026

Program Service Revenue $843,612

Investment Income $15,599

Other Revenue $10,144

TOTAL REVENUE $1,058,381

Expense Breakdown

Grants Paid $0

Salaries & Benefits $836,428

Fundraising Expenses $34,687

Program Expenses $896,257

Other Expenses $202,931

TOTAL EXPENSES $1,039,359

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,058,381	$997,074	+0.1%
Expenses	$1,039,359	$1,011,422	+0.0%
Net Income	$19,022	$-14,348	-2.3%

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

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

$132,839

Total Directors

$211,871

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SONIA PITTS	DIRECTOR	40.00	Director	$79,032	$0	$79,032
JESSIE FRANCIS	TREASURER AND DIRECTOR	40.00	Officer Director	$77,751	$0	$77,751
DEBBIE HARRIS	SECRETARY AND DIRECTOR	32.00	Officer Director	$55,088	$0	$55,088
DANIEL S HUFFENUS	DIRECTOR	1.00	Director	$0	$0	$0
MELINDA MCLAUGHLIN	DIRECTOR	2.00	Director	$0	$0	$0
CINDY WOLFF	DIRECTOR	1.00	Director	$0	$0	$0
EMILY GRACE	DIRECTOR	1.00	Director	$0	$0	$0
CONNIE FALCONE	PRESIDENT AND DIRECTOR	5.00	Officer Director	$0	$0	$0
BRENDA SINNERS	VICE PRESIDENT AND DIRECTOR	1.00	Officer 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	$1,058,381	$1,039,359	$738,954	$19,022
2023	$997,074	$1,011,422	$713,711	$-14,348
2022	$878,517	$850,141	$778,941	$28,376
2021	$891,931	$807,351	$896,904	$84,580
2020	$1,028,762	$724,449	$649,921	$304,313
2019	$893,167	$917,805	$356,228	$-24,638
2018	$993,372	$889,089	$382,004	$104,283

OPEN HEARTS ART CENTER INC