ART NEO (EIN 341420133) - 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

1984

Legal Domicile

Principal Officer

WILLIAM LIPSCOMB

Phone

2162279507

Tax Period

2024-01-01 to 2024-12-31

ART NEO, founded in 1984, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $12K in total revenue in fiscal year 2024. Revenue fell 77% from the prior year — a significant decline worth monitoring. Expenses of $35K exceeded revenue, resulting in a 202% operating deficit.

Mission

ART NEO WAS FOUNDED IN 1984 BY CLEVELAND BASED ARTISTS, PATRONS, AND COLLECTORS WHO RECOGNIZED THE NEED TO ESTABLISH AN ORGANIZATION THAT WOULD PRESERVE, RESEARCH, COLLECT, AND EXHIBIT THE MOST SIGNIFICANT VISUAL ART OF THE NORTHEAST REGION. ART NEO HAS BECOME THE PREMIER CENTER FOR THE ART OF NORTHEAST OHIO, OWING BOTH TO ITS SIGNIFICANT COLLECTING INITIATIVE, AND TO ITS COMMITMENT TO CREATIVE EXHIBITION PLANNING AND EDUCATIONAL OUTREACH. CENTRAL TO ART NEO'S COMMITMENT TO EMBRACING THE RANGE OF ARTISTIC EXCELLENCE IN THIS REGION IS ITS PRIORITY OF CONCEIVING STIMULATING EXHIBITIONS, EDUCATIONAL PROGRAMMING, AND SCHOLARLY PUBLICATIONS.

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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 $4,874

Program Service Revenue $6,823

Investment Income $0

Other Revenue $0

TOTAL REVENUE $11,697

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $980

Program Expenses $32,670

Other Expenses $35,345

TOTAL EXPENSES $35,345

Year-over-Year Comparison

	2024	2023	Change
Revenue	$11,697	$51,074	-0.8%
Expenses	$35,345	$59,221	-0.4%
Net Income	$-23,648	$-8,147	+1.9%

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

N/A

Employees

N/A

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIEL BUSH	SECRETARY	1.00	Officer Director	$0	$0	$0
HENRY ADAMS	BOARD MEMBER	1.00	Officer	$0	$0	$0
MARIANNE BERARDI	BOARD MEMBER	1.00	Officer	$0	$0	$0
TOM BODNAR	BOARD MEMBER	1.00	Officer	$0	$0	$0
GARY BOMBEI	BOARD MEMBER	1.00	Officer	$0	$0	$0
WILLIAM LIPSCOMB	PRESIDENT/TR	2.00	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
2024	$11,697	$35,345	$788,901	$-23,648
2023	$51,074	$59,221	$826,382	$-8,147
2022	$48,859	$48,264	$845,967	$595
2021	$67,331	$106,100	$833,296	$-38,769
2020	$34,183	$37,951	$926,632	$-3,768
2020	$55,041	$80,286	$912,847	$-25,245
2019	$111,898	$105,735	$933,495	$6,163

ART NEO