Visions Museum of Textile Art

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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

1985

Legal Domicile

Principal Officer

Katrina Bruins

Phone

6195464872

Tax Period

2024-01-01 to 2024-12-31

Visions Museum of Textile Art, founded in 1985, is a small nonprofit in the Arts, Culture & Humanities sector that reported $329K in total revenue in fiscal year 2024. Expenses of $478K exceeded revenue, resulting in a 45% operating deficit.

Mission

The purpose of this corporation shall be the promotion and appreciation of the rich history, artistry, and cultural significance of quilting and textile art.

Program Service Accomplishments

Program 1

Expenses: $358,509

The Organization presents workshops, lectures, contemporary quilt registry, and related activities to its members, world arts community and the general public. The art organization presents gallery exhibitions and biennial juried internationalexibitions along with a printed catalogue of exhibited pieces and information about each piece

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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 $181,098

Program Service Revenue $22,986

Investment Income $87,330

Other Revenue $37,117

TOTAL REVENUE $328,531

Expense Breakdown

Grants Paid $0

Salaries & Benefits $288,920

Fundraising Expenses $0

Program Expenses $358,509

Other Expenses $188,928

TOTAL EXPENSES $477,848

Year-over-Year Comparison

	2024	2023	Change
Revenue	$328,531	$337,921	0.0%
Expenses	$477,848	$507,918	-0.1%
Net Income	$-149,317	$-169,997	-0.1%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Barbara Dodson	Director	18.60	Director	$0	$0	$0
Patty Usher	Director	1.00	Director	$0	$0	$0
Susan Lazear	Director	2.00	Director	$0	$0	$0
Christine Sharp	Director	32.60	Director	$0	$0	$0
Caroline Frederick	Board Chair	25.00	Officer Director	$0	$0	$0
Ann Olsen	Vice President	18.30	Officer Director	$0	$0	$0
Sidney Windle	SecretaryTreasurer	13.60	Officer Director	$0	$0	$0
Katrina Bruins	Executive Director	40.00	Officer Highest	$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	No data	No data	No data	No data
2024	$328,531	$477,848	$1,098,887	$-149,317
2023	$337,921	$507,918	$1,244,087	$-169,997
2022	$230,540	$422,230	$1,525,473	$-191,690
2021	$312,146	$344,181	$1,930,231	$-32,035
2020	$208,800	$311,588	$1,878,447	$-102,788
2019	$204,460	$300,716	$1,846,269	$-96,256
2018	$226,215	$248,066	$1,764,038	$-21,851