Springfield Art Association of Edw… - Form 990 Financial Data

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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

1913

Legal Domicile

Principal Officer

Betsy Dollar

Phone

2175232631

Tax Period

2023-06-01 to 2024-05-31

Springfield Art Association of Edwards Place, founded in 1913, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.1M in total revenue in fiscal year 2023. Expenses of $1.4M exceeded revenue, resulting in a 32% operating deficit.

Mission

A visual arts organization who promotes, supports and provides educational opportunities for Springfield, IL, and maintains the Edwards Place House Museum.

Program Service Accomplishments

Program 1

Expenses: $1,091,128 Revenue: $688,092

Provide educational opportunities for the greater Springfield area and preserve the historic Edwards Place House and collections of the association.

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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 $252,566

Program Service Revenue $678,961

Investment Income $60,371

Other Revenue $86,027

TOTAL REVENUE $1,077,925

Expense Breakdown

Grants Paid $0

Salaries & Benefits $714,901

Fundraising Expenses $57,221

Program Expenses $1,091,128

Other Expenses $705,296

TOTAL EXPENSES $1,420,197

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,077,925	$1,093,774	0.0%
Expenses	$1,420,197	$1,256,146	+0.1%
Net Income	$-342,272	$-162,372	+1.1%

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

200

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

$79,164

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Pam VanAlstine	Past President	1.00	Officer Director	$0	$0	$0
John Muchow	President	1.00	Officer Director	$0	$0	$0
Tom George	1st Vice President	1.00	Officer Director	$0	$0	$0
Karen Carlson	2nd Vice President	1.00	Officer Director	$0	$0	$0
Aaron Horath	Secretary	1.00	Officer Director	$0	$0	$0
Johanna Hiebenstreit	Treasurer	1.00	Officer Director	$0	$0	$0
Deanie Brown	Board Member	1.00	Director	$0	$0	$0
Julie Brown	Board Member	1.00	Director	$0	$0	$0
Bob Marcy	Board Member	1.00	Director	$0	$0	$0
Elizabeth Watson	Board Member	1.00	Director	$0	$0	$0
Elizabeth Davidson	Board Member	1.00	Director	$0	$0	$0
Terrance Jordan	Board Member	1.00	Director	$0	$0	$0
Kathlyn Edwards	Board Member	1.00	Director	$0	$0	$0
Camellia Staab	Board Member	1.00	Director	$0	$0	$0
Julie Beveridge	Board Member	1.00	Director	$0	$0	$0
Mark Franklin	Board Member	1.00	Director	$0	$0	$0
Kirsten Davis Franklin	Board Member	1.00	Director	$0	$0	$0
Debra Nickelson Smith	Board Member	1.00	Director	$0	$0	$0
Ronni Norton	Board Member	1.00	Director	$0	$0	$0
Leslie Goad	Board Member	1.00	Director	$0	$0	$0
Laura Reyman	Board Member	1.00	Director	$0	$0	$0
Suzie Spada	Board Member	1.00	Director	$0	$0	$0
Stephanie Thomas	Board Member	1.00	Director	$0	$0	$0
Elizabeth Thai	Board Member	1.00	Director	$0	$0	$0
Kate Tierney	Board Member	1.00	Director	$0	$0	$0
Tonya Fry	Board Member	1.00	Director	$0	$0	$0
Betsy Dollar	Executive Director	40.00	Officer	$79,164	$0	$79,164

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	No data	No data	No data	No data
2024	$1,077,925	$1,420,197	$1,682,372	$-342,272
2023	$1,093,774	$1,256,146	$2,023,113	$-162,372
2022	$1,710,598	$1,612,838	$2,184,986	$97,760
2021	$998,442	$850,864	$2,087,742	$147,578
2020	$1,772,351	$877,398	$1,937,918	$894,953
2019	$1,375,719	$1,951,440	$1,117,831	$-575,721
2018	$1,067,058	$1,494,833	$1,613,400	$-427,775

Springfield Art Association of Edwards Place