FRIENDS OF MODERN ART (EIN 382134266) - 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

1977

Legal Domicile

Principal Officer

HUSEYIN HIZIROGLU

Phone

8104101080

Tax Period

2023-09-01 to 2024-08-31

FRIENDS OF MODERN ART, founded in 1977, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $47K in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Expenses of $46K left a modest 4% surplus.

Mission

PROVIDE ASSISTANCE FOR PROJECTS AND OBJECTIVES OF THE FLINT INSTITUTE OF ARTS.

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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 $0

Program Service Revenue $0

Investment Income $0

Other Revenue $47,311

TOTAL REVENUE $47,311

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $45,641

Other Expenses $45,641

TOTAL EXPENSES $45,641

Year-over-Year Comparison

	2023	2022	Change
Revenue	$47,311	$54,178	-0.1%
Expenses	$45,641	$61,259	-0.3%
Net Income	$1,670	$-7,081	-1.2%

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

N/A

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
HUSEYIN HIZIROGLU	TREASURER	0.50	Officer Director	$0	$0	$0
MICHAEL MELENBRINK	FORMER TREAS	0.50	Officer Director	$0	$0	$0
JAMES SHURTER	PRESIDENT	0.50	Officer Director	$0	$0	$0
LYNNE TAFT-DRAPER	FORMER PRESI	0.50	Officer 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	$47,311	$45,641	$99,548	$1,670
2023	$54,178	$61,259	$97,878	$-7,081
2022	$38,951	$34,711	$104,959	$4,240
2021	$10,004	$29,281	$100,719	$-19,277
2020	$-3,711	$28,506	$119,996	$-32,217
2019	$28,724	$22,150	$154,712	$6,574
2018	$23,162	$23,606	$148,138	$-444

FRIENDS OF MODERN ART