The Contemporary Arts Center

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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

1940

Legal Domicile

Principal Officer

Christina Vassallo

Phone

5133458400

Tax Period

2023-09-01 to 2024-08-31

The Contemporary Arts Center, founded in 1940, is a community nonprofit in the Arts, Culture & Humanities sector that reported $3.2M in total revenue in fiscal year 2023. Revenue fell 34% from the prior year — a significant decline worth monitoring. Expenses of $4.9M exceeded revenue, resulting in a 55% operating deficit.

Mission

The CAC is a lab for understanding ourselves, others, and the world around us through the experience and creation of all contemporary art forms.

Program Service Accomplishments

Program 1

Expenses: $2,575,537 Revenue: $18,373

As the premier venue in the Cincinnati region for contemporary art, the Contemporary Arts Center (CAC) is a place for displaying, learning about, and making art. The CAC's exhibition program...

As the premier venue in the Cincinnati region for contemporary art, the Contemporary Arts Center (CAC) is a place for displaying, learning about, and making art. The CAC's exhibition program catalyzes dialogue and discovery in Greater Cincinnati by presenting five to seven major exhibitions of cutting-edge contemporary art each year to over 35,000 individuals in our Zaha Hadid-designed building located in the center of downtown Cincinnati.

Program 2

Expenses: $643,884 Revenue: $38,708

The Contemporary Arts Center (CAC) aims to provide critical reflection and interpretation of today's culture, challenge conventional wisdom and experience, encourage social engagement, preserve...

The Contemporary Arts Center (CAC) aims to provide critical reflection and interpretation of today's culture, challenge conventional wisdom and experience, encourage social engagement, preserve cultural history, and create experiences for connecting with others. The CAC produces a range of educational programs that aid our visitors in exploring and engaging with our exhibitions. These reach more than 19,000 individuals of all ages and backgrounds, including roughly 3,000 underserved Cincinnati teens. Educational programs for students and teachers feature content aligned with state and national academic standards. Other programs are designed for homeschooled children, teens, adult learners, and seniors experiencing memory loss. Additionally, the CAC's Creativity Center is an interactive art gallery and hands-on art-making space that serves communities of all incomes and backgrounds across Greater Cincinnati.

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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 $2,778,941

Program Service Revenue $57,081

Investment Income $323,731

Other Revenue $13,720

TOTAL REVENUE $3,173,473

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,065,353

Fundraising Expenses $843,592

Program Expenses $3,219,421

Other Expenses $2,855,692

TOTAL EXPENSES $4,921,045

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,173,473	$4,777,160	-0.3%
Expenses	$4,921,045	$5,084,744	0.0%
Net Income	$-1,747,572	$-307,584	+4.7%

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

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

$291,629

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Emily Kokenge	At-Large	1.00	Officer Director	$0	$0	$0
Maria Espinola PhD	Board Member	1.00	Director	$0	$0	$0
Lucinda Barnes	Board Member	1.00	Director	$0	$0	$0
Jennifer Verkamp	Board Member - Exit 09/23	1.00	Director	$0	$0	$0
Michael Kelley	Board Member	1.00	Director	$0	$0	$0
Emily Hanako Momohara	Board Member	1.00	Director	$0	$0	$0
Gale Beckett	Chair	1.00	Officer Director	$0	$0	$0
Rosemary Schlachter	Chair - Exit 02/24	1.00	Officer Director	$0	$0	$0
Kyle Pohlman	Treasurer	1.00	Officer Director	$0	$0	$0
Denise Osterhues	Board Member	1.00	Director	$0	$0	$0
Bernie Calonge	Board Member	1.00	Director	$0	$0	$0
Rick Michelman PhD	At-Large	1.00	Officer Director	$0	$0	$0
Chuck Lohre	Board Member	1.00	Director	$0	$0	$0
Lee Linder	Board Member	1.00	Director	$0	$0	$0
Theo Erasmus	Board Member	1.00	Director	$0	$0	$0
Mark A Goodson	Board Member	1.00	Director	$0	$0	$0
Jennifer Krivickas	Board Member	1.00	Director	$0	$0	$0
Eric Kearney	Board Member	1.00	Director	$0	$0	$0
Steven W Jemison	Board Member	1.00	Director	$0	$0	$0
Charlie Key	Board Member	1.00	Director	$0	$0	$0
Amy Goodwin	Co-VP	1.00	Officer Director	$0	$0	$0
Bruce Lazarus	Board Member	1.00	Director	$0	$0	$0
Jim Cheng AIA LLD AP	Board Member - Exit 02/24	1.00	Director	$0	$0	$0
Jason McCaw	Board Member - Exit 02/24	1.00	Director	$0	$0	$0
Jeff Ahrnsen	President	1.00	Officer Director	$0	$0	$0
Brian Sedra	Secretary - Start 02/24	1.00	Officer Director	$0	$0	$0
Reginald Harris	Board Member - Start 02/24	1.00	Director	$0	$0	$0
Damian Hoskins	Board Member - Start 02/24	1.00	Director	$0	$0	$0
George Kurz	Board Member - Start 02/24	1.00	Director	$0	$0	$0
Murray Sinclaire Jr	Board Member - Start 02/24	1.00	Director	$0	$0	$0
Claudia Kohlman	Board Member - Start 05/24	1.00	Director	$0	$0	$0
Jenell Hubbard	Board Member - Start 05/24	1.00	Director	$0	$0	$0
Christina Vassallo	Executive Director	50.00	Officer	$144,821	$1,333	$146,154
Marcus Margerum	Deputy Director & COO	50.00	Officer	$139,476	$5,999	$145,475

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	$3,173,473	$4,921,045	$25,381,839	$-1,747,572
2023	$4,777,160	$5,084,744	$33,647,623	$-307,584
2022	$4,449,118	$4,928,833	$37,249,708	$-479,715
2021	$3,979,830	$4,486,037	$39,344,617	$-506,207
2020	$3,969,826	$5,488,543	$37,876,197	$-1,518,717
2019	$5,133,158	$5,261,716	$37,747,205	$-128,558
2018	$4,475,670	$4,592,029	$43,241,973	$-116,359