JACOBY ARTS 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

1981

Legal Domicile

Principal Officer

VALERIE HOVEN

Phone

6184625222

Tax Period

2025-01-01 to 2025-12-31

JACOBY ARTS CENTER, founded in 1981, is a small nonprofit that reported $112K in total revenue in fiscal year 2025. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $191K exceeded revenue, resulting in a 71% operating deficit.

Mission

TO FOSTER THE ARTISTIC DEVELOPMENT AND ECONOMIC SUCCESS OF ARTISTS

Program Service Accomplishments

Program 1

Expenses: $191,398 Revenue: $111,970

EDUCATION, ARTISTS PROGRAMS, AND EXHIBITIONS IN ACCORDANCE WITH THE EXPRESSED PURPOSE OF THE ORGANIZATION

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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 (2025)

Revenue Breakdown

Contributions & Grants $83,004

Program Service Revenue $23,645

Investment Income $2,994

Other Revenue $2,327

TOTAL REVENUE $111,970

Expense Breakdown

Grants Paid $0

Salaries & Benefits $109,561

Fundraising Expenses $0

Program Expenses $191,398

Other Expenses $81,837

TOTAL EXPENSES $191,398

Year-over-Year Comparison

	2025	2024	Change
Revenue	$111,970	$92,527	+0.2%
Expenses	$191,398	$180,833	+0.1%
Net Income	$-79,428	$-88,306	-0.1%

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

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

Total Directors

$97,974

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RACHEL LAPPIN	EXECUTIVE DIRECTOR	40.00	Director	$50,593	$0	$50,593
CHANTEL MORRIGAN	DIRECTOR OF OPERATIONS	40.00	Director	$47,381	$0	$47,381
VALERIE HOVEN	PRESIDENT	0.00	Officer	$0	$0	$0
BEL SPRINGMAN	SECRETARY	0.00	Officer	$0	$0	$0
JOHANNA WARNER	BOARD MEMBER	0.00	Officer	$0	$0	$0
TABITHA SCHREINER	BOARD MEMBER	0.00	Officer	$0	$0	$0
CODY HINKLE	TREASURER	0.00	Officer	$0	$0	$0
BENNETT FELTON	VICE PRESIDENT	0.00	Officer	$0	$0	$0
ROGER LEWIS	BOARD MEMBER	0.00	Officer	$0	$0	$0
MOLLY VELIKIS	BOARD MEMBER	0.00	Officer	$0	$0	$0
DENNIS SCARBOROUGH	BOARD MEMBER	0.00	Officer	$0	$0	$0
JENNA GODAIR	BOARD MEMBER	0.00	Officer	$0	$0	$0
TASHA MEEKS	BOARD MEMBER	0.00	Officer	$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
2025	$111,970	$191,398	$106,570	$-79,428
2024	$92,527	$180,833	$187,680	$-88,306
2023	$361,034	$212,898	$276,036	$148,136
2022	$226,209	$241,695	$127,787	$-15,486
2021	$230,973	$179,184	$144,411	$51,789
2020	$168,688	$176,939	$102,000	$-8,251
2019	$181,442	$166,224	$111,363	$15,218
2018	$163,788	$566,362	$87,349	$-402,574