ART ACADEMY OF CINCINNATI (EIN 311601569) - Form 990 Financial Analysis & Trantor Score

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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

1998

Legal Domicile

Principal Officer

JOE GIRANDOLA

Phone

5137215205

Tax Period

2024-06-01 to 2025-05-31

ART ACADEMY OF CINCINNATI, founded in 1998, is a community nonprofit in the Education sector that reported $9.7M in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year. Expenses of $11.1M exceeded revenue, resulting in a 14% operating deficit.

Mission

FOUR-YEAR ACCREDITED ART ACADEMY COLLEGE, OFFERING BFAS AND ONE MA PROGRAM. MISSION IS TO CREATE AND SUSTAIN RADICAL FORWARD-THINKING, CONTEMPORARY VISUAL ARTISTS AND DESIGNERS WHOSE CREATIVE CONTRIBUTIONS MAKE A SUBSTANTIAL DIFFERENCE IN ALL THE LIVES THEY TOUCH.

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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 $784,482

Program Service Revenue $8,542,584

Investment Income $171,342

Other Revenue $227,216

TOTAL REVENUE $9,725,624

Expense Breakdown

Grants Paid $3,720,047

Salaries & Benefits $3,669,617

Fundraising Expenses $63,870

Program Expenses $7,781,034

Other Expenses $3,713,487

TOTAL EXPENSES $11,103,151

Year-over-Year Comparison

	2024	2023	Change
Revenue	$9,725,624	$10,642,749	-0.1%
Expenses	$11,103,151	$11,053,378	+0.0%
Net Income	$-1,377,527	$-410,629	+2.4%

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

192

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

$215,400

Total Directors

$215,400

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH GIRANDOLA	PRESIDENT	45.00	Officer Director	$215,400	$0	$215,400
EMILY AGRICOLA HOLTROP	CHAIR	10.00	Officer Director	$0	$0	$0
JOANNA DOERNER	VICE CHAIR	5.00	Officer Director	$0	$0	$0
IAN MCMANIS	SECRETARY	2.00	Officer Director	$0	$0	$0
JIM CROSSET	TREASURER	3.00	Officer Director	$0	$0	$0
CHRISTINE CARLI	TRUSTEE	2.00	Director	$0	$0	$0
JOHN COBEY	TRUSTEE	2.00	Director	$0	$0	$0
MARK GROTE	TRUSTEE	2.00	Director	$0	$0	$0
MURRAY SINCLAIRE	TRUSTEE	2.00	Director	$0	$0	$0
JACQUELYN SOMMER-DENNEY	TRUSTEE	2.00	Director	$0	$0	$0
CALVIN MCDANIEL	TRUSTEE	2.00	Director	$0	$0	$0
RICHARD DICK FRIEDMAN	TRUSTEE	2.00	Director	$0	$0	$0
TAMARA HARKAVY	TRUSTEE	2.00	Director	$0	$0	$0
GREGORY OLSON	TRUSTEE	2.00	Director	$0	$0	$0
KYLE CAMPBELL	TRUSTEE	2.00	Director	$0	$0	$0
TYRA PATTERSON	TRUSTEE	2.00	Director	$0	$0	$0
ROBERT P HUESMAN	TRUSTEE	2.00	Director	$0	$0	$0
CHIP GERHARDT	TRUSTEE	2.00	Director	$0	$0	$0
BENJAMIN STEWART	TRUSTEE	2.00	Director	$0	$0	$0
PAM KRAVETZ	TRUSTEE	2.00	Director	$0	$0	$0
DAN FALES	TRUSTEE	2.00	Director	$0	$0	$0
RICHARD HOMAN	TRUSTEE	2.00	Director	$0	$0	$0
CHERYL STEVENS	TRUSTEE	2.00	Director	$0	$0	$0
JENNY USTICK	TRUSTEE	2.00	Director	$0	$0	$0
LEA WAGNER	VP OF ADMINISTRATION AND FINANCE	45.00	Highest	$110,000	$0	$110,000

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	$9,725,624	$11,103,151	$8,741,657	$-1,377,527
2024	$10,642,749	$11,053,378	$11,104,298	$-410,629
2023	$11,227,828	$10,838,046	$11,609,448	$389,782
2022	$9,495,180	$9,906,292	$6,583,513	$-411,112
2021	$9,643,906	$8,937,756	$7,469,225	$706,150
2020	$8,615,681	$7,821,874	$6,424,517	$793,807
2019	$7,395,349	$7,350,801	$6,516,209	$44,548
2018	$6,398,153	$6,654,084	$6,946,724	$-255,931

ART ACADEMY OF CINCINNATI