THE FINE ARTS ASSOCIATION (EIN 340834212) - 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

1957

Legal Domicile

Principal Officer

PAUL HOLM

Phone

4409517500

Tax Period

2023-08-01 to 2024-07-31

THE FINE ARTS ASSOCIATION, founded in 1957, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.8M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $3.1M exceeded revenue, resulting in a 11% operating deficit.

Mission

OUR MISSION: CREATE AND DISCOVER BEAUTY TO FOSTER A COMMUNITY EMPOWERED BY THE ARTS. THIS REFLECTS OUR HIGHEST ASPIRATIONS FOR OUR ORGANIZATION AS WE STRIVE FOR ARTISTIC EXCELLENCE AND REPRESENTS THE PEDAGOGICAL PRINCIPAL IN ALL OUR EDUCATIONAL PROGRAMS AND PERFORMANCES. WE USE THIS STATEMENT PROVOCATIVELY UNDERSTANDING THAT THE WORD BEAUTY IS A SUBJECTIVE CONCEPT. YET WE SEE BEAUTY IN MUCH MORE THAN THE ART ITSELF. WE SEE BEAUTY IN THE PROCESS OF CREATION AND DISCOVERY. WE SEE BEAUTY WHEN A CHILD LEARNS HOW TO MAKE THEIR FIRST SOUND ON A FLUTE OR PAINTS THEIR FIRST PICTURE. WE SEE BEAUTY WHEN A PREVIOUSLY SHY STUDENT CAN DELIVER THEIR FIRST LINES ON STAGE. WE SEE BEAUTY WHEN A CHILD STRUGGLING WITH EMOTIONAL OR COMMUNICATION CHALLENGES CAN POSITIVELY EXPRESS THEMSELVES AND WHAT THEY FEEL THROUGH MUSIC OR ART THERAPY. WE SEE BEAUTY IN THE INSPIRATION OUR STUDENTS, TEACHERS, PERFORMERS, AND CLIENTS PROVIDE AND THE ASPIRATIONS THEY HOLD ONTO FIRMLY. WE SEE BEAUTY IN EVERYONE AND THE POTE

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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 $948,561

Program Service Revenue $1,783,701

Investment Income $17,568

Other Revenue $27,496

TOTAL REVENUE $2,777,326

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,173,437

Fundraising Expenses $169,013

Program Expenses $2,598,556

Other Expenses $909,750

TOTAL EXPENSES $3,083,187

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,777,326	$2,487,056	+0.1%
Expenses	$3,083,187	$2,516,596	+0.2%
Net Income	$-305,861	$-29,540	+9.4%

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

108

Volunteers

110

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

$106,867

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAUL HOLM	CEO	40.00	Officer	$96,379	$10,488	$106,867
HEIDI BALDWIN	DIRECTOR	1.00	Director	$0	$0	$0
ERIC BARBE	PRESIDENT	1.00	Officer Director	$0	$0	$0
STEPHEN BAUM	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL CARONCHI	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN FIFE	DIRECTOR	1.00	Director	$0	$0	$0
ELIA DE LA GARZA	DIRECTOR	1.00	Director	$0	$0	$0
ROBIN HOPKINS	DIRECTOR	1.00	Director	$0	$0	$0
BETTY JACOBS	DIRECTOR	1.00	Director	$0	$0	$0
JACK KAPALKA	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL LAURIO	TREASURER	1.00	Officer Director	$0	$0	$0
ALI PHELPS	DIRECTOR	1.00	Director	$0	$0	$0
LAURIE PRINCIPE	DIRECTOR	1.00	Director	$0	$0	$0
TERESA REID	DIRECTOR	1.00	Director	$0	$0	$0
RANDALL SHARPE	DIRECTOR	1.00	Director	$0	$0	$0
NOELLE SIERADZKI	VICE PRES	1.00	Officer Director	$0	$0	$0
ROY SMITH	DIRECTOR	1.00	Director	$0	$0	$0
DAVID STEGER	SECRETARY	1.00	Officer Director	$0	$0	$0
JANE DENSMORE STEGER	DIRECTOR	1.00	Director	$0	$0	$0
JESSE STYLES	DIRECTOR	1.00	Director	$0	$0	$0
ELENI VOSICKY	DIRECTOR	1.00	Director	$0	$0	$0
ERICA WIGTON	DIRECTOR	1.00	Director	$0	$0	$0
EMILY ZOCCHI	DIRECTOR	1.00	Director	$0	$0	$0
JOHN ROGERS	DIRECTOR	1.00	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
2024	$2,777,326	$3,083,187	$6,114,923	$-305,861
2023	$2,487,056	$2,516,596	$6,486,020	$-29,540
2022	$1,634,832	$2,218,387	$5,808,862	$-583,555
2021	$1,367,391	$1,844,515	$6,805,041	$-477,124
2020	$1,750,900	$2,041,420	$6,475,358	$-290,520
2019	$1,800,991	$1,895,363	$6,621,737	$-94,372
2018	$1,723,600	$1,934,503	$6,586,172	$-210,903

THE FINE ARTS ASSOCIATION