CINCINNATI ARTS ASSOCIATION

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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

1990

Legal Domicile

Principal Officer

Steve Loftin

Phone

5137213344

Tax Period

2023-09-01 to 2024-08-31

CINCINNATI ARTS ASSOCIATION, founded in 1990, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $18.6M in total revenue in fiscal year 2023. Expenses of $17.2M left a modest 8% surplus.

Mission

The Cincinnati Arts Association (CAA), a not-for-profit, was founded in 1990 to serve as a manager, presenter and educator. CAA's mission is to present a broad range of high quality performing and visual arts programs, develop diverse audiences, foster an appreciation of the arts and an understanding of their forms, and encourage the use of CAA facilities by local and regional arts organizations.

Program Service Accomplishments

Program 1

Expenses: $11,650,292 Revenue: $12,343,711

Each season, CAA presents an eclectic mix of approximately one dozen performing arts events from around the world designed to reach diverse audiences, with special attention to the Tri-state's...

Each season, CAA presents an eclectic mix of approximately one dozen performing arts events from around the world designed to reach diverse audiences, with special attention to the Tri-state's minority communities (African-American, Asian-American, Hispanic/Latino, etc.).

Program 2

Expenses: $1,100,580 Revenue: $112,953

As the region's premier promoter of the arts and entertainment, the Cincinnati Arts Association (CAA) promotes life-long engagement in the arts while contributing to individual, organizational, and community wellness. CAA's Education & Community Engagement Department cultivates diverse, inclusive, and accessible arts engagements, seeking to remove barriers preventing arts participation. Committed to a practice of antiracism, the Education and Community Engagement Department encourages the use of CAA venues, develops diverse arts supporters, and fosters an appreciation and understanding of diverse arts disciplines, while encouraging and supporting practicing arts educators and administrators, audiences, and aspiring artists.

Program 3

Expenses: $396,619 Revenue: $3,486

The popular Weston Art Gallery (located in the Aronoff Center) specializes in the work of local and regional artists and is the only gallery in the area that can be dedicated to location-specific...

The popular Weston Art Gallery (located in the Aronoff Center) specializes in the work of local and regional artists and is the only gallery in the area that can be dedicated to location-specific works.In the heart of downtown Cincinnati's restaurant and theater district for more than 27 years, the Cincinnati Arts Association's Weston Art Gallery is acclaimed for its support of emerging and professional artists working in all media, locally and throughout the region.With galleries on two levels and 3,500 square feet of exhibition space, the Weston offers one-on-one assistance and support to artists to showcase their work in museum-quality environs through a diverse slate of exhibitions.

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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 $1,869,964

Program Service Revenue $12,460,150

Investment Income $2,885,759

Other Revenue $1,358,722

TOTAL REVENUE $18,574,595

Expense Breakdown

Grants Paid $36,000

Salaries & Benefits $10,648,795

Fundraising Expenses $566,494

Program Expenses $13,147,491

Other Expenses $6,483,965

TOTAL EXPENSES $17,168,760

Year-over-Year Comparison

	2023	2022	Change
Revenue	$18,574,595	$19,072,039	0.0%
Expenses	$17,168,760	$16,651,208	+0.0%
Net Income	$1,405,835	$2,420,831	-0.4%

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

680

Volunteers

692

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

$1,187,400

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Robert S Chavez	Trustee	1.00	Director	$0	$0	$0
Otto M Budig Jr	Treasurer	1.00	Officer Director	$0	$0	$0
Maribeth S Rahe	Vice Chair	1.00	Officer Director	$0	$0	$0
Dudley S Taft	Chairman	1.00	Officer Director	$0	$0	$0
Carol M Beyersdofer	Secretary	1.00	Officer Director	$0	$0	$0
Richard L Kiley	Special Vice-President	1.00	Officer Director	$0	$0	$0
J Stephen Dobbins	Trustee	1.00	Director	$0	$0	$0
Matthew Geerlings	Trustee	1.00	Director	$0	$0	$0
Toilynn O'Neal Turner	Trustee	1.00	Director	$0	$0	$0
Laura Carr	Trustee	1.00	Director	$0	$0	$0
Marvel Gentry Harmon	Trustee	1.00	Director	$0	$0	$0
Edward G Marks	Emeritus	1.00	Director	$0	$0	$0
Aftab Pureval	Ex-Officio	1.00	Director	$0	$0	$0
Jeanette Altenau	Special Vice-President	1.00	Officer Director	$0	$0	$0
Stephen A Loftin	President	45.00	Officer	$347,571	$33,484	$381,055
Benjamin T Reece	Vice President and CFO	45.00	Officer	$160,020	$14,002	$174,022
Brenda Carter	Vice President Human Resou	45.00	Officer	$126,930	$24,289	$151,219
Deborah Morgan-exit 123123	Vice President Development	40.00	Officer	$138,075	$1,715	$139,790
Sarah Miller	Vice President Development	40.00	Officer	$58,164	$0	$58,164
Joyce Bonomini	Vice President Education	45.00	Officer	$119,674	$18,138	$137,812
Van Ackerman	Vice President, Marketing	40.00	Officer	$127,256	$18,082	$145,338
Elam Mechley	Technical Director	40.00	Highest	$117,273	$0	$117,273
Thomas Kidney	Stagehand	40.00	Highest	$122,530	$19,048	$141,578
Kevin Eviston	Electrician	40.00	Highest	$116,784	$0	$116,784
Steve Schofield	Electrician	40.00	Highest	$108,820	$0	$108,820
Jonathan Chevalier	Carpenter	40.00	Highest	$108,334	$0	$108,334

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	$18,574,595	$17,168,760	$67,295,403	$1,405,835
2023	$19,072,039	$16,651,208	$59,551,647	$2,420,831
2022	$26,723,265	$16,705,426	$56,203,140	$10,017,839
2021	$8,741,930	$6,946,959	$56,926,622	$1,794,971
2020	$12,303,242	$12,223,628	$41,910,657	$79,614
2019	$14,752,199	$13,308,250	$39,422,945	$1,443,949
2018	$16,404,538	$13,737,144	$36,887,190	$2,667,394