Crosstown Arts (EIN 271876711) - 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

2010

Legal Domicile

Phone

9015078030

Tax Period

2024-05-01 to 2025-04-30

Crosstown Arts, founded in 2010, is a community nonprofit in the Arts, Culture & Humanities sector that reported $5.1M in total revenue in fiscal year 2024. Expenses of $4.8M left a modest 6% surplus.

Mission

CROSSTOWN ARTS IS A CONTEMPORARY ARTS ORGANIZATION DEDICATED TO FURTHER CULTIVATING THE CREATIVE COMMUNITY IN MEMPHIS. MANAGING A VARIETY OF EXHIBITION, PERFORMANCE, AND PRODUCTION SPACES, CROSSTOWN ARTS SUPPORTS ARTISTS, MUSICIANS, AND AUDIENCES WITH A WIDE RANGE OF MULTIDISCIPLINARY AND COLLABORATIVE PROJECTS. CROSSTOWN ARTS FOUNDED AND MANAGED THE RENOVATION OF CROSSTOWN CONCOURSE, A ONE-MILLION-SQUARE-FOOT MIXED-USE DEVELOPMENT IN THE FORMER SEARS BUILDING. OVER 40,000 SQUARE FEET OF SPACE IN CROSSTOWN CONCOURSE IS DEDICATED TO THE NON-PROFIT ARTS ORGANIZATION'S ARTS AND MUSIC PROGRAMMING.

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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 $2,331,005

Program Service Revenue $1,290,856

Investment Income $1,509,315

Other Revenue $15,811

TOTAL REVENUE $5,146,987

Expense Breakdown

Grants Paid $0

Salaries & Benefits $871,041

Fundraising Expenses $65,692

Program Expenses $4,195,305

Other Expenses $3,959,872

TOTAL EXPENSES $4,830,913

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,146,987	$4,864,555	+0.1%
Expenses	$4,830,913	$5,489,536	-0.1%
Net Income	$316,074	$-624,981	-1.5%

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

167

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

$106,891

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Ken Steorts	Secretary	2.0	Officer Director	$0	$0	$0
Richard Lou	Chair	2.0	Officer Director	$0	$0	$0
Barbara L Deans	Board Director	1.0	Director	$0	$0	$0
Derwin Sisnett	Board Director	1.0	Director	$0	$0	$0
Elliot Perry	Board Director	2.0	Director	$0	$0	$0
McLean Wilson	Board Director	1.0	Director	$0	$0	$0
Steve Dunavant	Board Director	2.0	Director	$0	$0	$0
Stacy Wright	Executive Director	55.0	Officer	$100,000	$6,891	$106,891

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	$5,146,987	$4,830,913	$100,520,354	$316,074
2024	$4,864,555	$5,489,536	$100,312,782	$-624,981
2023	$4,885,921	$6,054,791	$109,397,913	$-1,168,870
2023	$4,885,921	$6,054,789	$48,927,443	$-1,168,868
2022	$4,680,625	$5,752,361	$38,457,214	$-1,071,736
2022	$20,011,175	$5,752,361	$87,226,564	$14,258,814
2021	$3,683,328	$5,451,196	$52,274,330	$-1,767,868
2020	$4,227,787	$6,818,667	$54,125,873	$-2,590,880
2019	$6,954,877	$7,074,004	$56,945,283	$-119,127
2019	$6,520,320	$6,547,383	$56,939,544	$-27,063
2018	$7,714,557	$4,886,129	$44,231,965	$2,828,428
2018	$8,614,881	$4,625,042	$56,726,696	$3,989,839

Crosstown Arts