OAK PARK AREA ARTS COUNCIL

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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

1988

Legal Domicile

Principal Officer

SARITA CONNELLY

Phone

7083585692

Tax Period

2024-01-01 to 2024-12-31

OAK PARK AREA ARTS COUNCIL, founded in 1988, is a small nonprofit that reported $464K in total revenue in fiscal year 2024.

Mission

TO PROMOTE LOCAL ARTS INDUSTRY.

Program Service Accomplishments

Program 1

Expenses: $95,000

PROVIDED GRANTS TO 29 LOCAL ARTS ORGANIZATIONS, INCLUDING VISUAL AND PERFORMANCE ARTS, THEATERS, DANCE, ART AND MUSIC STUDY, AND MUSEUMS.

Program 2

Expenses: $80,355

GENERAL ARTS PROMOTION IN THE COMMUNITY, INCLUDING COMMUNICATING EVENTS, MENTORING AND ARTS ADVOCACY

Program 3

Expenses: $168,925

OFF THE WALL PROJECT, MINI MURAL AND SCHOLARSHIPS TO STUDENTS, TO SUPPORT DEVELOPMENT OF YOUNG ARTISTS

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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 $463,701

Program Service Revenue $0

Investment Income $9

Other Revenue $13

TOTAL REVENUE $463,723

Expense Breakdown

Grants Paid $107,500

Salaries & Benefits $127,311

Fundraising Expenses $47,705

Program Expenses $344,280

Other Expenses $216,290

TOTAL EXPENSES $451,101

Year-over-Year Comparison

	2024	2023	Change
Revenue	$463,723	$466,921	0.0%
Expenses	$451,101	$349,161	+0.3%
Net Income	$12,622	$117,760	-0.9%

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

Employees

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

$98,542

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SARITA CONNELLY	BOARD PRESIDENT	2.00	Officer Director	$0	$0	$0
EMAD MAHOU	BOARD VICE-PRESIDENT	2.00	Officer Director	$0	$0	$0
WILLIAM WALLACE	TREASURER	2.00	Officer Director	$0	$0	$0
KATHLEEN HEPBURN	SECRETARY	1.00	Officer Director	$0	$0	$0
EMILY EAGAN	DIRECTOR	1.00	Director	$0	$0	$0
YVES HUGES JR	DIRECTOR	1.00	Officer Director	$0	$0	$0
AMIR MOHABBAT	DIRECTOR	1.00	Director	$0	$0	$0
SAM MONTIEL	DIRECTOR	1.00	Director	$0	$0	$0
JOEL RICHTER	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM B SULLIVAN	DIRECTOR	1.00	Director	$0	$0	$0
CAMILLE WILSON WHITE	EXECUTIVE DIRECTOR	40.00	Officer	$98,542	$0	$98,542

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	$463,723	$451,101	$386,705	$12,622
2023	$466,921	$349,161	$423,133	$117,760
2022	$443,302	$387,001	$281,401	$56,301
2021	$244,413	$205,344	$213,657	$39,069
2020	$179,556	$172,354	$192,891	$7,202
2019	$224,398	$215,576	$177,329	$8,822