HYDE PARK ART CENTER

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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

1940

Legal Domicile

Principal Officer

AARON RODGERS

Phone

7733245520

Tax Period

2024-01-01 to 2024-12-31

HYDE PARK ART CENTER, founded in 1940, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.9M in total revenue in fiscal year 2024. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $4.0M exceeded revenue, resulting in a 37% operating deficit.

Mission

THE PURPOSE OF THE HYDE PARK ART CENTER (THE ART CENTER) IS TO STIMULATE AND SUSTAIN THE VISUAL ARTS IN CHICAGO. IT DOES SO BY CHALLENGING AND SUPPORTING ARTISTS, CONNECTING ARTISTS TO A BROADER PUBLIC, AND CREATING A COMMUNITY OF PEOPLE WHO ARE INTERESTED IN THE VISUAL ARTS. THE ART CENTER'S FLAGSHIP PROGRAMS PROVIDE OPPORTUNITIES FOR ANYONE TO SEE, MAKE, LEARN ABOUT, AND DISCUSS ART.

Program Service Accomplishments

Program 1

Expenses: $982,408 Revenue: $378,178

OAKMAN CLINTON SCHOOL & STUDIOS: THE ART CENTER'S OPEN-ACCESS COMMUNITY-BASED SCHOOL - THE ONLY ART SCHOOL OF SUCH BREADTH ON CHICAGO'S SOUTH SIDE PROVIDES HIGH-QUALITY TRAINING IN THE VISUAL ARTS BY PROFESSIONAL WORKING ARTISTS WITH 2,500 ENROLLMENTS ANNUALLY. IN SPRING 2022, THE ART CENTER LAUNCHED OPEN ARTS, A CORE CURRICULUM OF CONTRIBUTE-WHAT-YOU-CAN COURSES. OPEN ARTS INCLUDES ALL PROFESSIONAL DEVELOPMENT COURSES AND TWO-THIRDS OF OTHER COURSES WITH OFFERINGS FOR EVERY AGE, SKILL LEVEL, AND MEDIA - THE FIRST ART SCHOOL IN THE COUNTRY TO RUN ON THIS MODEL.PATHWAYS K-8: PARTNERING WITH A CORE GROUP OF SCHOOLS ON CHICAGO'S SOUTH SIDE, THE ART CENTER DELIVERS VISUAL-ARTS EDUCATION TO NEARLY 1,100 ELEMENTARY STUDENTS. THIS COMMITMENT TO SOUTH SIDE NEIGHBORHOODS AIMS TO TRANSFORM ARTS EDUCATION FOR STUDENTS FROM HISTORICALLY UNDERSERVED COMMUNITIES AND CHANGE THE FUTURE OF CHICAGO'S ARTS LANDSCAPE.

Program 2

Expenses: $805,264 Revenue: $27,074

CONTEMPORARY ART EXHIBITIONS: PRESENTING 13 EXHIBITIONS ANNUALLY, THE ART CENTER PROVIDES EMERGING AND GROUNDBREAKING ARTISTS WITH EXHIBITION OPPORTUNITIES THAT ALLOW THEM TO TAKE ON AMBITIOUS AND...

CONTEMPORARY ART EXHIBITIONS: PRESENTING 13 EXHIBITIONS ANNUALLY, THE ART CENTER PROVIDES EMERGING AND GROUNDBREAKING ARTISTS WITH EXHIBITION OPPORTUNITIES THAT ALLOW THEM TO TAKE ON AMBITIOUS AND TRANSFORMATIONAL NEW PROJECTS AND GARNER GREATER RECOGNITION BOTH LOCALLY AND NATIONALLY. THE ART CENTER HAS PLAYED AN INTEGRAL ROLE IN LAUNCHING BOTH THE CAREERS OF INDIVIDUAL ARTISTS AND ARTIST MOVEMENTS.

Program 3

Expenses: $726,106 Revenue: $173,237

TEEN PROGRAMS: THE ART CENTER PROVIDES A CREATIVE SPACE AND COMMUNITY FOR 250 TEENS WITH SEVEN AFTERSCHOOL AND SUMMER PROGRAMS. THROUGH A COMBINATION OF TEEN-DRIVEN INDEPENDENT AND ARTIST-LED GROUP PROJECTS, TEENS DEVELOP THEIR OWN ART PRACTICES ALONGSIDE LEADERSHIP SKILLS IN A SUPPORTIVE ENVIRONMENT.

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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 $1,956,274

Program Service Revenue $632,917

Investment Income $201,507

Other Revenue $114,873

TOTAL REVENUE $2,905,571

Expense Breakdown

Grants Paid $257,640

Salaries & Benefits $2,085,425

Fundraising Expenses $481,711

Program Expenses $3,011,809

Other Expenses $1,629,704

TOTAL EXPENSES $3,972,769

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,905,571	$3,721,399	-0.2%
Expenses	$3,972,769	$3,980,597	0.0%
Net Income	$-1,067,198	$-259,198	+3.1%

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

$394,662

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIKA DUDLEY	CHAIR	2.00	Officer Director	$0	$0	$0
SUNDEEP MULLANGI	VICE CHAIR	2.00	Officer Director	$0	$0	$0
JUSTINE JENTES	SECRETARY	2.00	Officer Director	$0	$0	$0
SATANNIA WILLIAMS	TREASURER (THRU 3/2024)	2.00	Officer Director	$0	$0	$0
PETER LANE	TREASURER (BEG 3/2024)	2.00	Officer Director	$0	$0	$0
AMANDA WILLIAMS	BOARD MEMBER	2.00	Director	$0	$0	$0
CHERYL RUDBECK	BOARD MEMBER	2.00	Director	$0	$0	$0
CYNTHIA HEUSING	BOARD MEMBER	2.00	Director	$0	$0	$0
DAWOUD BEY	BOARD MEMBER (THRU 10/2024)	2.00	Director	$0	$0	$0
DEDREA GREY	BOARD MEMBER	2.00	Director	$0	$0	$0
GHIAN FOREMAN	BOARD MEMBER	2.00	Director	$0	$0	$0
JANIS KANTER	BOARD MEMBER (THRU 5/2024)	2.00	Director	$0	$0	$0
JASON SAUL	BOARD MEMBER	2.00	Director	$0	$0	$0
JOHN OXTOBY	BOARD MEMBER	2.00	Director	$0	$0	$0
JULIE GUIDA	BOARD MEMBER	2.00	Director	$0	$0	$0
KIM TAYLOR	BOARD MEMBER	2.00	Director	$0	$0	$0
KIMBERLY ELBAOR	BOARD MEMBER (THRU 1/2024)	2.00	Director	$0	$0	$0
KINERET JAFFE	BOARD MEMBER	2.00	Director	$0	$0	$0
LAUREN MOLTZ	BOARD MEMBER	2.00	Director	$0	$0	$0
LAWRENCE FURNSTAHL	BOARD MEMBER	2.00	Director	$0	$0	$0
MARCIA THOMPSON	BOARD MEMBER	2.00	Director	$0	$0	$0
MIRJA SPOONER	BOARD MEMBER	2.00	Director	$0	$0	$0
POOJA PITTIE	BOARD MEMBER	2.00	Director	$0	$0	$0
RACHEL CONANT	BOARD MEMBER (THRU 1/2024)	2.00	Director	$0	$0	$0
RICHARD WRIGHT	BOARD MEMBER	2.00	Director	$0	$0	$0
ROBERT SULLIVAN	BOARD MEMBER	2.00	Director	$0	$0	$0
ROMI CRAWFORD	BOARD MEMBER	2.00	Director	$0	$0	$0
SATANNIA WILLIAMS	BOARD MEMBER	2.00	Director	$0	$0	$0
TRINITA LOGUE	BOARD MEMBER (THRU 6/2024)	2.00	Director	$0	$0	$0
JENNETTE TREMBLAY CHAMBERS	CO-EXECUTIVE DIRECTOR	40.00	Officer	$131,191	$17,449	$148,640
AARON RODGERS	CO-EXECUTIVE DIRECTOR	40.00	Officer	$126,128	$22,512	$148,640
DEVON HALL	DIRECTOR OF FINANCE	40.00	Officer	$93,600	$3,782	$97,382

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	$2,905,571	$3,972,769	$11,005,163	$-1,067,198
2023	$3,721,399	$3,980,597	$11,720,753	$-259,198
2022	$2,482,157	$3,282,240	$11,546,706	$-800,083
2021	$7,741,893	$3,229,484	$13,112,741	$4,512,409
2020	$4,472,124	$2,333,569	$8,210,045	$2,138,555
2019	$2,506,353	$2,665,759	$6,071,058	$-159,406
2018	$2,284,276	$2,472,204	$6,070,517	$-187,928