HARMONY SCHOOL OF CREATIVE ARTS (EIN 320002101) - 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

2002

Legal Domicile

Principal Officer

Carol B Gallagher

Phone

8306931791

Tax Period

2024-08-01 to 2025-07-31

HARMONY SCHOOL OF CREATIVE ARTS, founded in 2002, is a small nonprofit in the Arts, Culture & Humanities sector that reported $328K in total revenue in fiscal year 2024. Expenses of $281K left a modest 14% surplus.

Mission

Community Education in the Performing and Visual Arts

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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 $62,501

Program Service Revenue $264,798

Investment Income $300

Other Revenue $0

TOTAL REVENUE $327,599

Expense Breakdown

Grants Paid $14,957

Salaries & Benefits $60,592

Fundraising Expenses $0

Program Expenses $250,516

Other Expenses $205,383

TOTAL EXPENSES $280,932

Year-over-Year Comparison

	2024	2023	Change
Revenue	$327,599	$331,921	0.0%
Expenses	$280,932	$275,644	+0.0%
Net Income	$46,667	$56,277	-0.2%

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

147

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
Karla Stephens	President	1	Officer Director	$0	$0	$0
Aimee Evans	Vice President	1	Officer Director	$0	$0	$0
Tim Norden	Treasurer	1	Officer Director	$0	$0	$0
Pam Carrothers	Secretary	1	Officer Director	$0	$0	$0
Pam Walton	Director	1	Director	$0	$0	$0
Garry Kesler	Director	1	Director	$0	$0	$0
Jenna Petty	Director	1	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
2025	$327,599	$280,932	$627,957	$46,667
2024	$331,921	$275,644	$565,491	$56,277
2023	$269,639	$265,972	$515,234	$3,667
2022	$290,959	$243,508	$515,915	$47,451
2021	$274,272	$218,205	$504,322	$56,067
2020	$245,010	$243,409	$461,222	$1,601

HARMONY SCHOOL OF CREATIVE ARTS