MICHIGAN LEGACY ART PARK (EIN 383172005) - 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

1993

Legal Domicile

Principal Officer

JOAN VERLA

Phone

2313784963

Tax Period

2023-01-01 to 2023-12-31

MICHIGAN LEGACY ART PARK, founded in 1993, is a small nonprofit in the Arts, Culture & Humanities sector that reported $227K in total revenue in fiscal year 2023. Revenue surged 20% from the prior year, signaling strong growth momentum. Net assets of $665K represent 35 months of operating reserves.

Mission

MAINTAIN A 30 ACRE ART PARK WITH A UNIQUE ENVIRONMENT THAT HARMONIOUSLY INTEGRATES NATURE, EDUCATION, ART AND HISTORY. THE PARK WILL BE OPEN TO THE PUBLIC.

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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 $177,257

Program Service Revenue $53,872

Investment Income $3,373

Other Revenue $-7,303

TOTAL REVENUE $227,199

Expense Breakdown

Grants Paid $0

Salaries & Benefits $162,645

Fundraising Expenses $23,286

Program Expenses $163,730

Other Expenses $62,694

TOTAL EXPENSES $225,339

Year-over-Year Comparison

	2023	2022	Change
Revenue	$227,199	$189,163	+0.2%
Expenses	$225,339	$219,040	+0.0%
Net Income	$1,860	$-29,877	-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

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
MARY ANN CHENEY	DIRECTOR	1.00	Director	$0	$0	$0
KIRK DAVIDSON	DIRECTOR	1.00	Director	$0	$0	$0
BARRY LEVINE	DIRECTOR	1.00	Director	$0	$0	$0
TRACIE MACPHERSON	SECRETARY	1.00	Officer Director	$0	$0	$0
SUE PETERS	DIRECTOR	1.00	Director	$0	$0	$0
KATHYROSE PIZZO	DIRECTOR	1.00	Director	$0	$0	$0
ANGIE QUINN	EXECUTIVE DI	40.00	Director	$0	$0	$0
CHIP RICE	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
JEFF SOCIA	TREASURER	1.00	Officer Director	$0	$0	$0
CAROL STARK	DIRECTOR	1.00	Director	$0	$0	$0
JOAN VERLA	PRESIDENT	1.00	Officer Director	$0	$0	$0
MARILYN WHEATON	DIRECTOR	1.00	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	$227,199	$225,339	$665,454	$1,860
2022	$189,163	$219,040	$665,690	$-29,877
2021	$194,781	$187,143	$699,493	$7,638
2020	$165,990	$176,750	$690,321	$-10,760
2019	$93,074	$229,474	$698,681	$-136,400
2018	$231,178	$253,672	$848,722	$-22,494

MICHIGAN LEGACY ART PARK