HENDERSON AREA ARTS ALLIANCE 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

1979

Legal Domicile

Principal Officer

NATALIE SINGER

Phone

2708265916

Tax Period

2023-07-01 to 2024-06-30

HENDERSON AREA ARTS ALLIANCE INC, founded in 1979, is a small nonprofit in the Arts, Culture & Humanities sector that reported $323K in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $383K exceeded revenue, resulting in a 18% operating deficit.

Mission

TO PROVIDE FUNDING AND SERVICES TO SUPPORT AND FOSTER AN ENVIRONMENT IN WHICH THE ARTS CAN THRIVE.

Program Service Accomplishments

Program 1

Expenses: $6,500

THE ORGANIZATION PROVIDED FINANCIAL ASSISTANCE TO OTHER CHARITABLE ORGANIZATIONS THAT PROMOTE ARTISTIC EVENTS IN THE HENDERSON, KENTUCKY AREA.

Program 2

Expenses: $325,017

THE ORGANIZATION PRESENTED MUSICAL AND OTHER ARTISTIC PERFORMANCES IN ORDER TO PROMOTE THE ARTS IN THE HENDERSON, KENTUCKY AREA.

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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 $188,911

Program Service Revenue $133,651

Investment Income $347

Other Revenue $0

TOTAL REVENUE $322,909

Expense Breakdown

Grants Paid $0

Salaries & Benefits $94,268

Fundraising Expenses $0

Program Expenses $331,517

Other Expenses $288,286

TOTAL EXPENSES $382,554

Year-over-Year Comparison

	2023	2022	Change
Revenue	$322,909	$279,811	+0.2%
Expenses	$382,554	$345,324	+0.1%
Net Income	$-59,645	$-65,513	-0.1%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIM HOBBS	PRESIDENT	N/A	Officer Director	$0	$0	$0
WALKER BRUNNER	VICE-PRESIDE	N/A	Officer Director	$0	$0	$0
CELESTE RUST	TREASURER	N/A	Officer Director	$0	$0	$0
CLAY GILLHAM	SECRETARY	N/A	Officer Director	$0	$0	$0
JESSICA BEAVEN	DIRECTOR	N/A	Director	$0	$0	$0
SHERRY CHANDLER	DIRECTOR	N/A	Director	$0	$0	$0
DANA HARVEY	DIRECTOR	N/A	Director	$0	$0	$0
LESLIE HOSKINS	DIRECTOR	N/A	Director	$0	$0	$0
CHARLES JOHNSON	DIRECTOR	N/A	Director	$0	$0	$0
LISA LESLIE	DIRECTOR	N/A	Director	$0	$0	$0
STEVE MCCARTY	DIRECTOR	N/A	Director	$0	$0	$0
MEGAN MORTIS	DIRECTOR	N/A	Director	$0	$0	$0
DORSEY RIDLEY	DIRECTOR	N/A	Director	$0	$0	$0
DR JASON WARREN	DIRECTOR	N/A	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	$322,909	$382,554	$50,974	$-59,645
2023	$279,811	$345,324	$99,875	$-65,513
2022	$255,114	$319,712	$164,813	$-64,598
2021	$136,478	$114,220	$253,286	$22,258
2020	$118,070	$347,291	$246,571	$-229,221
2019	$508,042	$445,562	$446,883	$62,480