Gallery 510 Art & Framing An Illinois Art Gallery (EIN 371280028) - 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

1991

Legal Domicile

Phone

2174221509

Tax Period

2023-06-01 to 2024-05-31

Gallery 510 Art & Framing An Illinois Art Gallery, founded in 1991, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $90K in total revenue in fiscal year 2023. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $86K left a modest 5% surplus.

Mission

TO PROMOTE THE VISUAL FINE ARTS AS PUBLIC SERVICE TO ACT AS AN EDUCATIONAL AND CULTURAL RESOURCE AND TO SERVE AS A VENUE FOR PROFESSIONAL AND EMERGING 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 (2023)

Revenue Breakdown

Contributions & Grants $54,436

Program Service Revenue $2,046

Investment Income $6

Other Revenue $33,688

TOTAL REVENUE $90,176

Expense Breakdown

Grants Paid $0

Salaries & Benefits $31,534

Fundraising Expenses $12,595

Program Expenses $42,063

Other Expenses $54,429

TOTAL EXPENSES $85,963

Year-over-Year Comparison

	2023	2022	Change
Revenue	$90,176	$71,177	+0.3%
Expenses	$85,963	$81,105	+0.1%
Net Income	$4,213	$-9,928	-1.4%

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

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michael Delaney	President	20.00	Officer Director	$0	$0	$0
Karen Tappendorf	Vice President	20.00	Officer Director	$0	$0	$0
Barbara Dove	Secretary	20.00	Officer Director	$0	$0	$0
Vickie Jones	Treasurer	20.00	Officer Director	$0	$0	$0
Nicole Christison	Director	10.00	Director	$0	$0	$0
Madeline Cooper	Director	10.00	Director	$0	$0	$0
Jessica Stricklin Disbrow	Director	10.00	Officer Director	$0	$0	$0
Barbara Dunn	Director	10.00	Director	$0	$0	$0
Annette Russo	Director	10.00	Director	$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	No data	No data	No data	No data
2024	$90,176	$85,963	$37,802	$4,213
2023	$71,177	$81,105	$33,590	$-9,928
2022	$97,514	$69,719	$43,518	$27,795
2021	$60,571	$79,296	$19,941	$-18,725

Gallery 510 Art & Framing An Illinois Art Gallery