ARTS COUNCIL OF INDIANAPOLIS 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

1987

Legal Domicile

Principal Officer

JUDITH B THOMAS

Phone

3176313301

Tax Period

2024-01-01 to 2024-12-31

ARTS COUNCIL OF INDIANAPOLIS INC, founded in 1987, is a community nonprofit in the Arts, Culture & Humanities sector that reported $4.9M in total revenue in fiscal year 2024. Revenue fell 31% from the prior year — a significant decline worth monitoring. Expenses of $6.3M exceeded revenue, resulting in a 29% operating deficit.

Mission

TO CHAMPION ARTS AND CULTURE.

Program Service Accomplishments

Program 1

Expenses: $4,827,151 Revenue: $45,441

CONTRIBUTE TO AND ADVOCATE FOR THE LONG-TERM VIABILITY OF THE ARTS; EMPOWER ARTISTS AND BUILD THE CAPACITY OF ARTS ORGANIZATIONS THROUGH A HIGH-QUALITY PLATFORM OF SERVICES; BE THE VOICE AND CONVENER OF THE ARTS AND CULTURAL COMMUNITY; INTEGRATE THE ARTS INTO COMMUNITY PROJECTS AND COLLABORATIVE PARTNERSHIPS; AND DEMONSTRATE OPERATIONAL EXCELLENCE BY EFFECTIVELY STEWARDING OUR RESOURCES AND RELATIONSHIPS.

Program 2

Expenses: $737,455 Revenue: $554,307

THROUGH WHOLLY-OWNED SUBSIDIARY, ARTSGARDEN LLC, HOSTS FREE PERFORMANCES AND EXHIBITS.

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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 $3,922,637

Program Service Revenue $554,307

Investment Income $192,716

Other Revenue $233,785

TOTAL REVENUE $4,903,445

Expense Breakdown

Grants Paid $2,759,601

Salaries & Benefits $1,435,472

Fundraising Expenses $165,606

Program Expenses $5,564,606

Other Expenses $2,117,178

TOTAL EXPENSES $6,312,251

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,903,445	$7,056,949	-0.3%
Expenses	$6,312,251	$4,627,662	+0.4%
Net Income	$-1,408,806	$2,429,287	-1.6%

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

$204,260

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRENDA HORN	CHAIR	3.00	Officer Director	$0	$0	$0
KAREN KENNELLY	TREASURER	3.00	Officer Director	$0	$0	$0
KAREN ALTER	VICE CHAIR	3.00	Officer Director	$0	$0	$0
GREGG JASON NOYAN	SECRETARY	3.00	Officer Director	$0	$0	$0
TANYA STUART OVERDORF	IMMEDIATE PAST CHAIR	3.00	Officer Director	$0	$0	$0
BROOKE BARNETT	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL HULKA	DIRECTOR	1.00	Director	$0	$0	$0
SHAWN MULHOLLAND	DIRECTOR	1.00	Director	$0	$0	$0
DAVID NIE	DIRECTOR	1.00	Director	$0	$0	$0
JILL HAUSER ROBISCH	DIRECTOR	1.00	Director	$0	$0	$0
DESERI GARCIA	DIRECTOR	1.00	Director	$0	$0	$0
MONIKA MALA	DIRECTOR	1.00	Director	$0	$0	$0
PATRICK TALTY	DIRECTOR	1.00	Director	$0	$0	$0
GREG WALLIS	DIRECTOR	1.00	Director	$0	$0	$0
ADRIENNE SIMS	DIRECTOR	1.00	Director	$0	$0	$0
SARAH HEMPSTEAD	DIRECTOR	1.00	Director	$0	$0	$0
ALEESIA JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
BRYCE BENNETT	ADVISOR	1.00	Director	$0	$0	$0
DAN APPEL	ADVISOR	1.00	Director	$0	$0	$0
FRANK BASILE	ADVISOR	1.00	Director	$0	$0	$0
BARBARA BRANIC	ADVISOR	1.00	Director	$0	$0	$0
ADAM CHAVERS	ADVISOR	1.00	Director	$0	$0	$0
TED GIVENS	ADVISOR	1.00	Director	$0	$0	$0
MICHAEL HUBER	ADVISOR	1.00	Director	$0	$0	$0
STAN HURT	ADVISOR	1.00	Director	$0	$0	$0
ERIK JOHNSON	ADVISOR	1.00	Director	$0	$0	$0
KRISTA SKIDMORE	ADVISOR	1.00	Director	$0	$0	$0
MARK VARNAU	ADVISOR	1.00	Director	$0	$0	$0
SUSAN WILLIAMS	ADVISOR	1.00	Director	$0	$0	$0
JULIE GOODMAN	PAST PRESIDENT & CEO	40.00	Officer	$175,762	$19,847	$195,609
MOLLY CHAVERS	INTERIM PRESIDENT & CEO	40.00	Officer	$8,651	$0	$8,651

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	$4,903,445	$6,312,251	$8,946,361	$-1,408,806
2023	$7,056,949	$4,627,662	$10,308,474	$2,429,287
2022	$4,531,851	$6,201,389	$7,296,643	$-1,669,538
2021	$5,263,250	$10,521,817	$8,597,633	$-5,258,567
2020	$15,043,217	$8,972,828	$13,469,464	$6,070,389