HOOSIER SALON PATRONS ASSOCIATION … - Form 990 Financial Data

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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

DONNA HOVEY

Phone

3176696050

Tax Period

2023-01-01 to 2023-12-31

HOOSIER SALON PATRONS ASSOCIATION INC, founded in 1957, is a small nonprofit in the Arts, Culture & Humanities sector that reported $406K in total revenue in fiscal year 2023. The organization ran a surplus of $92K, a strong 23% operating margin.

Mission

PROMOTION OF INDIANA ART AND ARTISTS THROUGH GALLERY EXHIBITIONS, EDUCATIONAL PROGRAMS, AND EVENTS.

Program Service Accomplishments

Program 1

Expenses: $101,731 Revenue: $15,300

NEW HARMONY GALLERY/FIRST BRUSH OF SPRING: SOUTHERN INDIANA GALLERY PRESENTING EXHIBITIONS OF MEMBERS' ARTWORKS AND EDUCATIONAL PROGRAMMING FOR ARTISTS AND CHILDREN.

Program 2

Expenses: $91,059 Revenue: $96,957

ANNUAL EXHIBITION: 99 CONSECUTIVE YEARS FEATURING THE BEST IN INDIANA ART.

Program 3

Expenses: $33,740 Revenue: $5,000

THE EXHIBITION ON THE OVAL PROMENADE FEATURES ONE CURRENT WORK FROM EACH OF 18 INDIANA ARTISTS WHO HAVE EITHER WON BEST OF SHOW OR OTHER SIGNIFICANT AWARDS IN THE HOOSIER SALON ANNUAL EXHIBITION IN...

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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 $228,532

Program Service Revenue $117,335

Investment Income $11,632

Other Revenue $48,267

TOTAL REVENUE $405,766

Expense Breakdown

Grants Paid $0

Salaries & Benefits $66,177

Fundraising Expenses $0

Program Expenses $226,530

Other Expenses $247,922

TOTAL EXPENSES $314,099

Year-over-Year Comparison

	2023	2022	Change
Revenue	$405,766	$379,543	+0.1%
Expenses	$314,099	$246,853	+0.3%
Net Income	$91,667	$132,690	-0.3%

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

100

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
MICHAEL QUINN	PRESIDENT	10.00	Officer Director	$0	$0	$0
MELANIE WISSEL	VICE-PRESIDENT	4.00	Officer Director	$0	$0	$0
GREGORY PEMBERTON	TREASURER	4.00	Officer Director	$0	$0	$0
JANET HOLCOMB	SECRETARY	4.00	Officer Director	$0	$0	$0
KRIS BOWEN	BOARD MEMBER	2.00	Director	$0	$0	$0
KAREN BUTLER	BOARD MEMBER	2.00	Director	$0	$0	$0
DR GREGORY CHERNOFF	BOARD MEMBER	2.00	Director	$0	$0	$0
ELLEN CRABB	BOARD MEMBER	2.00	Director	$0	$0	$0
TAMIKO CRAYTON	BOARD MEMBER	2.00	Director	$0	$0	$0
DR CHAD DAVIS	BOARD MEMBER	2.00	Director	$0	$0	$0
CHERI DICK	BOARD MEMBER	2.00	Director	$0	$0	$0
JEREMY EFROYMSON	BOARD MEMBER	2.00	Director	$0	$0	$0
OTTO FRENZEL IV	BOARD MEMBER	2.00	Director	$0	$0	$0
DONNA HOVEY	BOARD MEMBER	2.00	Director	$0	$0	$0
REBECCA KUBACKI	BOARD MEMBER	2.00	Director	$0	$0	$0
JOHN LECHLEITER	BOARD MEMBER	2.00	Director	$0	$0	$0
SUSANNE MCALISTER	BOARD MEMBER	2.00	Director	$0	$0	$0
KENT PARKER	BOARD MEMBER	2.00	Director	$0	$0	$0
MARK PERLSTEIN	BOARD MEMBER	2.00	Director	$0	$0	$0
DR GEORGE RAPP	BOARD MEMBER	2.00	Director	$0	$0	$0
JIM SHOOK	BOARD MEMBER	2.00	Director	$0	$0	$0
LIBBY SOMERVILLE	BOARD MEMBER	2.00	Director	$0	$0	$0
CATHY SPRINGER BROWN	BOARD MEMBER	2.00	Director	$0	$0	$0
AMB RANDALL TOBIAS	BOARD MEMBER	2.00	Director	$0	$0	$0
JEFF VELDHOF	BOARD MEMBER	2.00	Director	$0	$0	$0
C DANIEL YATES	BOARD MEMBER	2.00	Director	$0	$0	$0
RICHARD A YOUNG	BOARD MEMBER	2.00	Director	$0	$0	$0
BRANDON EMKES	BOARD MEMBER	2.00	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	No data	No data	No data	No data
2023	$405,766	$314,099	$461,354	$91,667
2022	$379,543	$246,853	$369,825	$132,690
2021	$346,649	$203,291	$235,840	$143,358
2020	$243,586	$180,272	$94,338	$63,314
2019	$372,687	$368,198	$54,659	$4,489
2018	$466,773	$487,846	$72,460	$-21,073

HOOSIER SALON PATRONS ASSOCIATION INC