TEMPLEARTS

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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

Legal Domicile

Principal Officer

LARRY PRESTON

Phone

9897542491

Tax Period

2022-08-01 to 2023-07-31

TEMPLEARTS is a community nonprofit in the Arts, Culture & Humanities sector that reported $4.8M in total revenue in fiscal year 2022. Revenue surged 101% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.9M, a strong 40% operating margin.

Mission

MUSEUM TO PROVIDE ART FOR ALL THROUGH EDUCATION, COLLECTION AND RESERVATION OF ART.

Program Service Accomplishments

Program 1

Expenses: $581,010 Revenue: $1,650,674

MUSEUM: ARTISTS FROM ALL OVER UNITED STATES, AS WELL AS THE STATE OF MICHIGAN EXHIBIT FINE WORKS OF ART TO THE CITIZENS OF THE GREAT LAKES BAY REGION. EDUCATION AND ART GOES TO SCHOOL: THESE PROGRAMS INCREASE KNOWLEDGE AND APPRECIATION OF ART BY PROVIDING TOUR PROGRAMS TO SCHOOL CHILDREN AND PROVIDING INSTRUCTION FOR CLASSROOM VOLUNTEERS.

Program 2

Expenses: $1,957,250

THEATRE: TO STRENGTHEN THE ARTS AND CULTURAL FABRIC OF THE GREAT LAKES BAY REGION BY PROVIDING A HISTORIC PERFORMING ARTS CENTER AND SERVING AS AN ADMINISTRATIVE HUB FOR ARTS ORGANIZATIONS.

Program 3

Expenses: $3,846

OTHER: TO STRENGTHEN THE ARTS AND CULTURAL FABRIC OF THE GREAT LAKES BAY REGION BY PROVIDING BY SERVING AS AN ADMINISTRATIVE HUB FOR ARTS ORGANIZATIONS.

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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 $2,551,580

Program Service Revenue $1,650,674

Investment Income $597,683

Other Revenue $10,149

TOTAL REVENUE $4,810,086

Expense Breakdown

Grants Paid $0

Salaries & Benefits $815,603

Fundraising Expenses $125,231

Program Expenses $2,542,106

Other Expenses $2,067,436

TOTAL EXPENSES $2,883,039

Year-over-Year Comparison

	2022	2021	Change
Revenue	$4,810,086	$2,397,590	+1.0%
Expenses	$2,883,039	$1,854,255	+0.6%
Net Income	$1,927,047	$543,335	+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

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

$231,376

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL KOLLETH	PRESIDENT	40.00	Officer	$157,794	$0	$157,794
KENDRA PARKS-ALEXANDER	CFO	40.00	Officer	$73,582	$0	$73,582
SABRINA CRONIN	DIRECTOR	2.00	Director	$0	$0	$0
DR STEPHANIE DUGGAN	DIRECTOR	2.00	Director	$0	$0	$0
PAUL FURLO	SECRETARY	2.00	Officer Director	$0	$0	$0
HEATHER GALLEGOS	DIRECTOR	2.00	Director	$0	$0	$0
GARY GLAZA	TREASURER	2.00	Officer Director	$0	$0	$0
VANESSA GUERA	DIRECTOR	2.00	Director	$0	$0	$0
VICKI HILL	DIRECTOR	2.00	Director	$0	$0	$0
GEORGE MESREY	DIRECTOR	2.00	Director	$0	$0	$0
LARRY PRESTON	CHAIR - BOD/	10.00	Officer Director	$0	$0	$0
CLARENCE RIVETTE	DIRECTOR	2.00	Director	$0	$0	$0
DR SAMUEL SHAHEEN	CHAIR - EXEC	2.00	Officer Director	$0	$0	$0
J DON SHEETS	DIRECTOR	2.00	Director	$0	$0	$0
DAVID STROUSE	DIRECTOR	2.00	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
2024	No data	No data	No data	No data
2023	$4,810,086	$2,883,039	$26,244,016	$1,927,047
2022	$2,397,590	$1,854,255	$23,437,974	$543,335
2021	$2,521,932	$2,112,697	$24,720,912	$409,235
2019	$308,053	$750,408	$7,996,352	$-442,355
2018	$602,473	$884,820	$8,426,479	$-282,347