THE CHICAGO ACADEMY FOR THE ARTS (EIN 363084905) - 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

1980

Legal Domicile

Principal Officer

JASON PATERA

Phone

3124210202

Tax Period

2022-07-01 to 2023-06-30

THE CHICAGO ACADEMY FOR THE ARTS, founded in 1980, is a community nonprofit that reported $5.9M in total revenue in fiscal year 2022. Revenue grew 13% year-over-year, indicating healthy expansion.

Mission

THE CHICAGO ACADEMY FOR THE ARTS TRANSFORMS EMERGING ARTISTS THROUGH A CURRICULUM AND CULTURE WHICH CONNECT INTELLECTUAL CURIOSITY, CRITICAL THINKING, AND CREATIVITY TO IMPART THE SKILLS TO LEAD AND COLLABORATE ACROSS DIVERSE COMMUNITIES.

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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 (2022)

Revenue Breakdown

Contributions & Grants $1,829,556

Program Service Revenue $4,159,943

Investment Income $22,109

Other Revenue $-89,357

TOTAL REVENUE $5,922,251

Expense Breakdown

Grants Paid $1,648,042

Salaries & Benefits $3,130,543

Fundraising Expenses $213,878

Program Expenses $4,747,381

Other Expenses $1,404,989

TOTAL EXPENSES $6,183,574

Year-over-Year Comparison

	2022	2021	Change
Revenue	$5,922,251	$5,242,240	+0.1%
Expenses	$6,183,574	$5,689,539	+0.1%
Net Income	$-261,323	$-447,299	-0.4%

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

$150,793

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL FINNERTY	CHAIR	2.00	Officer Director	$0	$0	$0
KRISTA LINN	TREASURER	1.00	Officer Director	$0	$0	$0
CARLOS CLAUDIO	SECRETARY	1.00	Officer Director	$0	$0	$0
BARBARA ATKINS RUHMAN	HONORARY TRUSTEE	1.00	Director	$0	$0	$0
PAUL DETLEFS	HONORARY TRUSTEE	1.00	Director	$0	$0	$0
RICHARD H SANDERS	TRUSTEE	1.00	Director	$0	$0	$0
ALEXANDER WILLIAMS	TRUSTEE	1.00	Director	$0	$0	$0
JUSTIN TRANTER	TRUSTEE	1.00	Director	$0	$0	$0
LARRY GARSTKI	TRUSTEE	1.00	Director	$0	$0	$0
RUSTY HERNANDEZ-SANFILIPPO	TRUSTEE	1.00	Director	$0	$0	$0
PATTY HUNT	TRUSTEE	1.00	Director	$0	$0	$0
TIMOTHY KNOWLES	TRUSTEE	1.00	Director	$0	$0	$0
NORA FLEMING	TRUSTEE	1.00	Director	$0	$0	$0
TODD WALBERT	VICE CHAIR	1.00	Officer Director	$0	$0	$0
SHARON JOHNSON	EX OFFICIO	1.00	Director	$0	$0	$0
JUDITH ROTHSCHILD	HONORARY TRUSTEE	1.00	Director	$0	$0	$0
MARA GEORGES	TRUSTEE	1.00	Director	$0	$0	$0
JASON PATERA	HEAD OF SCHOOL	40.00	Officer	$141,786	$9,007	$150,793

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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$5,922,251	$6,183,574	$2,525,989	$-261,323
2022	$5,242,240	$5,689,539	$2,625,140	$-447,299
2021	$6,255,209	$5,548,555	$3,169,468	$706,654
2020	$5,531,277	$5,296,651	$2,815,460	$234,626
2019	$5,230,175	$5,200,948	$2,180,039	$29,227
2018	$5,205,991	$4,953,906	$2,180,920	$252,085

THE CHICAGO ACADEMY FOR THE ARTS