ILLINOIS ARTS ALLIANCE

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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

1982

Legal Domicile

Principal Officer

O VICTORIA LAKES-BATTLE

Phone

3128553105

Tax Period

2024-10-01 to 2025-09-30

ILLINOIS ARTS ALLIANCE, founded in 1982, is a community nonprofit that reported $3.3M in total revenue in fiscal year 2024. Expenses of $2.9M left a modest 13% surplus.

Mission

ARTS ALLIANCE ILLINOIS BUILDS THE CREATIVE SECTOR'S POWER THROUGH ADVOCACY AND CONNECTION TO RESOURCES TO IMPROVE THE QUALITY OF LIFE IN COMMUNITIES STATEWIDE.

Program Service Accomplishments

Program 1

Expenses: $713,890 Revenue: $49,642

FISCAL SPONSORSHIP: ASSISTING STARTUP INITIATIVES LOOKING TO STRENGTHEN THE CREATIVE SECTOR OF ILLINOIS AS THEY ESTABLISH THEIR OWN TAX EXEMPTION.

Program 2

Expenses: $470,064 Revenue: $0

PUBLIC FUNDING NAVIGATION: IN 2023 ARTS ALLIANCE ILLINOIS LAUNCHED OUR PUBLIC FUNDING NAVIGATOR PROGRAM TO HELP THE ARTS AND CULTURE SECTOR LEARN ABOUT AND ACCESS PUBLIC FUNDING OPPORTUNITIES, AND TO POSITION OURSELVES AS AN ADVOCATE TO HELP THEM OVERCOME BARRIERS WITHIN THESE GOVERNMENT PROGRAMS.THE PROGRAM INCLUDES RESEARCHING AND IDENTIFYING ADDITIONAL FUNDING OPPORTUNITIES THAT CAN BE LEVERAGED FOR CREATIVES AND CULTURAL ORGANIZATIONS/BUSINESSES, AS WELL AS CONNECTING THE CREATIVE SECTOR WITH AFFORDABLE FINANCIAL LITERACY AND BUSINESS DEVELOPMENT RESOURCES.

Program 3

Expenses: $366,176 Revenue: $0

CIVIC ENGAGEMENT: THE ALLIANCE KEEPS ITS STAKEHOLDERS UP TO DATE ON NEWS AND POLICY THAT AFFECT THE CREATIVE SECTOR THROUGH PUBLIC FORUMS, ACTION ALERTS, ADVOCACY TRAININGS, WORKSHOPS, VOTER...

CIVIC ENGAGEMENT: THE ALLIANCE KEEPS ITS STAKEHOLDERS UP TO DATE ON NEWS AND POLICY THAT AFFECT THE CREATIVE SECTOR THROUGH PUBLIC FORUMS, ACTION ALERTS, ADVOCACY TRAININGS, WORKSHOPS, VOTER EDUCATION, MEETINGS WITH ELECTED OFFICIALS, WEBINARS, AND OTHER ENGAGEMENT EVENTS. BY EMPOWERING OUR STAKEHOLDERS TO BE ACTIVE PARTICIPANTS IN THE POLICY-MAKING PROCESS, WE EQUIP THE SECTOR WITH THE TOOLS TO GROW OUR IMPACT ACROSS ILLINOIS. CAPITOL DAY: EVERY SPRING, ARTS AND CULTURE ADVOCATES FROM ACROSS ILLINOIS COME TOGETHER TO CHAMPION KEY ISSUES THAT IMPACT THE LARGER CREATIVE COMMUNITY IN ILLINOIS WHILE ADVANCING THE SPECIFIC NEEDS OF THEIR 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 (2024)

Revenue Breakdown

Contributions & Grants $3,293,454

Program Service Revenue $56,942

Investment Income $18,118

Other Revenue $-81,567

TOTAL REVENUE $3,286,947

Expense Breakdown

Grants Paid $346,635

Salaries & Benefits $1,585,031

Fundraising Expenses $350,468

Program Expenses $1,888,810

Other Expenses $929,101

TOTAL EXPENSES $2,860,767

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,286,947	$3,181,495	+0.0%
Expenses	$2,860,767	$3,463,808	-0.2%
Net Income	$426,180	$-282,313	-2.5%

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

$207,509

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
O VICTORIA LAKES-BATTLE	BOARD CHAIR	2.00	Officer Director	$0	$0	$0
JOHN STREMSTERFER	BOARD VICE CHAIR	2.00	Officer Director	$0	$0	$0
PHILLIP BAHAR	TREASURER (THRU SEPTEMBER 2025)	2.00	Officer Director	$0	$0	$0
CHRISTINE DUDLEY	TREASURER	1.00	Officer Director	$0	$0	$0
MICHELLE T BOONE	DIRECTOR	1.00	Director	$0	$0	$0
E BROOKE FLANAGAN	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL HERNANDEZ	DIRECTOR	1.00	Director	$0	$0	$0
ERICA HUBBARD	DIRECTOR	1.00	Director	$0	$0	$0
LEAH ISRAEL	DIRECTOR	1.00	Director	$0	$0	$0
CORY JOBE	DIRECTOR (THRU SEPTEMBER 2025)	1.00	Director	$0	$0	$0
KATHRYN M LIPUMA	DIRECTOR	1.00	Director	$0	$0	$0
RENA HENDERSON MASON	DIRECTOR	2.00	Director	$0	$0	$0
STACY PETERSON	DIRECTOR	1.00	Director	$0	$0	$0
ABBY PUCKER	DIRECTOR	1.00	Director	$0	$0	$0
MARK RODRIGUEZ	DIRECTOR	1.00	Director	$0	$0	$0
ROCHE SCHULFER	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT SILBERSTEIN	DIRECTOR	1.00	Director	$0	$0	$0
VIVIAN LEE STANDIFIRD	DIRECTOR	1.00	Director	$0	$0	$0
HENRY WISHCAMPER	DIRECTOR	1.00	Director	$0	$0	$0
ALISA WOLFSON	DIRECTOR	1.00	Director	$0	$0	$0
ANGEL YSAGUIREE	DIRECTOR	1.00	Director	$0	$0	$0
CLAIRE RICE	EXECUTIVE DIRECTOR	40.00	Officer	$168,710	$31,414	$200,124
UMEKI RAMSEY	SENIOR DIRECTOR OF FINANCE	40.00	Officer	$7,385	$0	$7,385

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	$3,286,947	$2,860,767	$3,311,546	$426,180
2024	$3,181,495	$3,463,808	$3,070,623	$-282,313
2023	$3,980,899	$2,255,263	$3,640,158	$1,725,636
2022	$1,306,240	$1,170,319	$1,420,208	$135,921
2021	$237,504	$315,065	$1,142,760	$-77,561
2021	$1,849,119	$1,710,243	$1,347,524	$138,876
2020	$2,330,575	$1,766,580	$1,163,504	$563,995
2019	$820,198	$842,092	$519,917	$-21,894