FIRELANDS ASSN FOR THE VISUAL ARTS (EIN 341282501) - 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

1979

Legal Domicile

Principal Officer

Jamie Reis

Phone

4407747158

Tax Period

2024-09-01 to 2025-08-31

FIRELANDS ASSN FOR THE VISUAL ARTS, founded in 1979, is a small nonprofit that reported $283K in total revenue in fiscal year 2024. Expenses of $331K exceeded revenue, resulting in a 17% operating deficit.

Mission

FAVA's mission is to foster creativity and community by exhibiting contempoary visual art, educating people of all ages, and strengthening cultural awareness throughout the community.

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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 $223,643

Program Service Revenue $57,616

Investment Income $1,414

Other Revenue $0

TOTAL REVENUE $282,673

Expense Breakdown

Grants Paid $0

Salaries & Benefits $216,884

Fundraising Expenses $11,641

Program Expenses $290,560

Other Expenses $113,851

TOTAL EXPENSES $330,735

Year-over-Year Comparison

	2024	2023	Change
Revenue	$282,673	$288,469	0.0%
Expenses	$330,735	$335,219	0.0%
Net Income	$-48,062	$-46,750	+0.0%

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

$72,907

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Kathleen Jackson	Executive Director	40	Key Emp	$72,907	$0	$72,907
Arenne Flanders	Trustee	2	Director	$0	$0	$0
Mary Kirtz-Van Nortwick	Trustee	2	Director	$0	$0	$0
Audrey Kolb	Trustee	2	Director	$0	$0	$0
Thomas Van Nortwick	Trustee	2	Director	$0	$0	$0
Lorna Kretchmar	Trustee	2	Director	$0	$0	$0
Helene Aarons	Trustee	2	Director	$0	$0	$0
Carla Locke	Vice President	2	Officer	$0	$0	$0
Deborah Campana	Secretary	2	Officer	$0	$0	$0
Maegen Hurtado	President	2	Officer	$0	$0	$0
George Wright	Treasurer	2	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	$282,673	$330,735	$130,333	$-48,062
2024	$288,469	$335,219	$178,329	$-46,750
2023	$307,563	$296,375	$220,583	$11,188
2022	$302,211	$276,209	$213,768	$26,002
2021	$288,668	$226,020	$222,744	$62,648
2020	$262,718	$266,542	$159,582	$-3,824

FIRELANDS ASSN FOR THE VISUAL ARTS