FRIENDSHIP ACADEMY OF THE ARTS (EIN 311756049) - 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

2001

Legal Domicile

Principal Officer

LORNA PETTIS

Phone

6128796703

Tax Period

2024-07-01 to 2025-06-30

FRIENDSHIP ACADEMY OF THE ARTS, founded in 2001, is a community nonprofit in the Education sector that reported $4.7M in total revenue in fiscal year 2024. Revenue decreased 13% compared to the prior year.

Mission

TO EDUCATE CHILDREN TO BE CONFIDENT, CREATIVE, AND COMPETENT CITIZENS. LEARNERS AREEMPOWERED TO FIND MEANING AND UNDERSTANDING THROUGH ARTS, WHICH INCLUDE; DANCE, MUSIC,THEATER, LITERATURE, MEDIA, AND VISUAL

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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 $4,630,665

Program Service Revenue $1,678

Investment Income $43,113

Other Revenue $0

TOTAL REVENUE $4,675,456

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,235,163

Fundraising Expenses $0

Program Expenses $4,369,778

Other Expenses $2,620,145

TOTAL EXPENSES $4,855,308

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,675,456	$5,353,964	-0.1%
Expenses	$4,855,308	$4,552,790	+0.1%
Net Income	$-179,852	$801,174	-1.2%

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

$8,669

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRENDA HILL	MEMBER	1.00	Director	$0	$0	$0
JANICE PHILIPS	MEMBER	1.00	Director	$8,669	$0	$8,669
LORNA PETTIS	BOARD CHAIR	1.00	Director	$0	$0	$0
TERRIE COATS	MEMBER	1.00	Director	$0	$0	$0
NIAMBI JACKSON	MEMBER	1.00	Director	$0	$0	$0
DARLENE RILEY	MEMBER	1.00	Director	$0	$0	$0
ANANYSIA JOSEPH	BOARD CHAIR	1.00	Officer	$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
2025	$4,675,456	$4,855,308	$2,626,166	$-179,852
2024	$5,353,964	$4,552,790	$2,707,332	$801,174
2023	$5,889,896	$6,278,087	$3,255,451	$-388,191
2023	$5,746,172	$6,218,100	$3,311,933	$-471,928
2022	$5,476,614	$6,069,810	$3,429,335	$-593,196
2021	$4,820,441	$4,829,358	$2,442,293	$-8,917
2020	$2,907,050	$3,128,013	$2,639,129	$-220,963
2019	$2,638,914	$2,505,964	$2,701,789	$132,950
2018	$2,436,116	$2,353,469	$2,677,924	$82,647

FRIENDSHIP ACADEMY OF THE ARTS