ART WORKS STUDIO SCHOOL 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

2010

Legal Domicile

Principal Officer

AIMEE OLIVO

Phone

3014540808

Tax Period

2023-01-01 to 2023-12-31

ART WORKS STUDIO SCHOOL INC, founded in 2010, is a small nonprofit in the Arts, Culture & Humanities sector that reported $684K in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year. Expenses of $805K exceeded revenue, resulting in a 18% operating deficit.

Mission

TO BUILD COMMUNITY THROUGH THE ARTS BY PROVIDING AFFORDABLE, CONTENT-RICH ART CLASSES AND PROJECTS.

Program Service Accomplishments

Program 1

Expenses: $655,668 Revenue: $272,495

ART PROGRAMS: ART WORKS NOW OFFERS AFFORDABLE PROGRAMMING AT BELOW MARKET PRICES IN THE VISUAL ARTS FOR ALL AGES. PROGRAMS INCLUDE LOW COST SKILLS CLASSES, A WORKSHOP FOR DEVELOPING INDIVIDUAL...

ART PROGRAMS: ART WORKS NOW OFFERS AFFORDABLE PROGRAMMING AT BELOW MARKET PRICES IN THE VISUAL ARTS FOR ALL AGES. PROGRAMS INCLUDE LOW COST SKILLS CLASSES, A WORKSHOP FOR DEVELOPING INDIVIDUAL CREATIVE VOICE AND DROP IN PROGRAMS FOR STUDIO ACTIVITIES FOR TODDLERS, ELEMENTARY SCHOOL AGE CHILDREN, TEENS, AND ADULTS. ART WORKS NOW PROVIDES AN AVENUE FOR EMERGING ARTISTS TO EXHIBIT ARTWORK AND PROVIDES TRAINING IN THE DEVELOPMENT OF PROFESSIONAL SKILLS TO PREPARE ARTISTS TO EXHIBIT THEIR WORKS IN COMMERCIAL GALLERIESL. ART WORKS NOW EXHIBITION SPACE IS USED TO PROVIDE EXHIBITS OF EDUCATIONAL VALUE FOR THE COMMUNITY AND STUDENTS.

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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 $409,084

Program Service Revenue $267,495

Investment Income $0

Other Revenue $7,708

TOTAL REVENUE $684,287

Expense Breakdown

Grants Paid $0

Salaries & Benefits $408,282

Fundraising Expenses $101,671

Program Expenses $655,668

Other Expenses $396,313

TOTAL EXPENSES $804,595

Year-over-Year Comparison

	2023	2022	Change
Revenue	$684,287	$779,295	-0.1%
Expenses	$804,595	$848,152	-0.1%
Net Income	$-120,308	$-68,857	+0.7%

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

100

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

$99,501

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JESSICA PORT	BOARD CHAIR	3.00	Officer Director	$0	$0	$0
BARBARA JOHNSON	FOUNDER AND BOARD MEMBER	3.00	Officer Director	$0	$0	$0
JANINE JACKSON	TREASURER	3.00	Officer Director	$0	$0	$0
GRETCHEN KAPUSCIK	BOARD MEMBER	1.00	Director	$0	$0	$0
WILLIAM SHIPP	BOARD MEMBER	1.00	Director	$0	$0	$0
ROSEZELLA CANTY-LETSOME	BOARD MEMBER	1.00	Director	$0	$0	$0
BRAD FROME	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN PARKER	BOARD MEMBER	1.00	Director	$0	$0	$0
RAFAEL RODRIGUEZ	BOARD MEMBER	1.00	Director	$0	$0	$0
AIMEE OLIVO	EXECUTIVE DIRECTOR	40.00	Key Emp	$99,501	$0	$99,501

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	No data	No data	No data	No data
2023	$684,287	$804,595	$934,736	$-120,308
2022	$779,295	$848,152	$1,059,436	$-68,857
2021	$656,747	$651,497	$1,020,584	$5,250
2021	$656,747	$651,497	$1,020,584	$5,250
2020	$591,224	$578,489	$904,272	$12,735
2019	$682,692	$669,849	$663,120	$12,843
2018	$662,325	$661,603	$656,455	$722