MICHIGAN INSTITUTE FOR CONTEMPORARY ART (EIN 382575338) - 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

1984

Legal Domicile

Principal Officer

TERRY N TERRY

Phone

5173714600

Tax Period

2023-11-01 to 2024-10-31

MICHIGAN INSTITUTE FOR CONTEMPORARY ART, founded in 1984, is a small nonprofit that reported $183K in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. Net assets of $382K represent 25 months of operating reserves.

Mission

COMMUNITY EVENTS SUCH AS JAZZFEST, BLUESFEST, ART GALLERY AND OTHER EVENTS THAT BRING ARTISTS TOGETHER WITH AUDIENCES AND THAT PROMOTE THE LANSING OLD TOWN BUSINESS DISTRICT.

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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 $30,568

Program Service Revenue $152,118

Investment Income $0

Other Revenue $0

TOTAL REVENUE $182,686

Expense Breakdown

Grants Paid $0

Salaries & Benefits $46,849

Fundraising Expenses $7,647

Program Expenses $143,297

Other Expenses $142,465

TOTAL EXPENSES $189,314

Year-over-Year Comparison

	2023	2022	Change
Revenue	$182,686	$202,116	-0.1%
Expenses	$189,314	$228,249	-0.2%
Net Income	$-6,628	$-26,133	-0.7%

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

100

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

$18,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TAMMY SLAVIK	SECRETARY/TR	25.00	Officer	$18,000	$0	$18,000
MATTHEW ANDERSON	TRUSTEE/DIRE	N/A	Director	$0	$0	$0
STACI GARCIA-NAGEL	TRUSTEE/DIRE	N/A	Director	$0	$0	$0
CAROL HILDEBRAND	TRUSTEE/DIRE	N/A	Director	$0	$0	$0
MARCUS JEFFERSON	TRUSTEE/DIRE	N/A	Director	$0	$0	$0
ELYSE RIBBONS	TRUSTEE/DIRE	N/A	Director	$0	$0	$0
DAN TEMPLIN	TRUSTEE/DIRE	N/A	Director	$0	$0	$0
LISA WHITING-DOBSON	TRUSTEE/DIRE	N/A	Director	$0	$0	$0
JOE WINKIEL	TRUSTEE/DIRE	N/A	Director	$0	$0	$0
TERRY N TERRY	PRESIDENT	N/A	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
2024	$182,686	$189,314	$568,824	$-6,628
2023	$202,116	$228,249	$583,722	$-26,133
2022	$212,507	$186,559	$621,560	$25,948
2021	$118,841	$120,824	$529,984	$-1,983
2020	$41,814	$54,041	$517,146	$-12,227
2019	$141,889	$149,567	$25,375	$-7,678
2018	$130,412	$189,003	$19,018	$-58,591

MICHIGAN INSTITUTE FOR CONTEMPORARY ART