RIVERSIDE ARTS CENTER FOUNDATION INC (EIN 383228817) - 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

1994

Legal Domicile

Principal Officer

WILLIAM KINLEY

Phone

7344802787

Tax Period

2023-01-01 to 2023-12-31

RIVERSIDE ARTS CENTER FOUNDATION INC, founded in 1994, is a small nonprofit in the Arts, Culture & Humanities sector that reported $628K in total revenue in fiscal year 2023. Revenue decreased 19% compared to the prior year. The organization ran a surplus of $235K, a strong 37% operating margin.

Mission

THE ORGANIZATION IS A MULTI-PURPOSE CULTURAL ARTS VENUE PROVIDING PERFORMANCE, EXHIBIT, STUDIO AND RECEPTION SPACE FOR ARTISTS AND ART CULTURAL ORGANIZATIONS TO ENRICH THE YPSILANTI COMMUNITY THROUGH THE ARTS AND CULTURAL EXPERIENCES. IN ADDITION, ARTS RELATED PROGRAMS SUCH AS ART AND THEATER CAMPS AND CLASSES ARE OFFERED FOR YOUTH AND ADULTS.

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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 $471,947

Program Service Revenue $116,328

Investment Income $1,954

Other Revenue $37,740

TOTAL REVENUE $627,969

Expense Breakdown

Grants Paid $44,954

Salaries & Benefits $201,231

Fundraising Expenses $18,821

Program Expenses $247,676

Other Expenses $147,168

TOTAL EXPENSES $393,353

Year-over-Year Comparison

	2023	2022	Change
Revenue	$627,969	$778,319	-0.2%
Expenses	$393,353	$242,970	+0.6%
Net Income	$234,616	$535,349	-0.6%

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

$82,400

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ELIZABETH WARREN	EXECUTIVE DI	40.00	Director	$80,000	$2,400	$82,400
DAVID ARMSTRONG	TREASURER	2.00	Officer Director	$0	$0	$0
MORGAN COX	TRUSTEE	2.00	Director	$0	$0	$0
BRIAN FILIPIAK	TRUSTEE	2.00	Director	$0	$0	$0
CAREY JERNIGAN	TRUSTEE	2.00	Director	$0	$0	$0
ATHENA JOHNSON	TRUSTEE	2.00	Director	$0	$0	$0
WILLIAM KINLEY	CHAIR	4.00	Officer Director	$0	$0	$0
BARRY LARUE	SECRETARY	4.00	Officer Director	$0	$0	$0
DONALD LOPPNOW	PAST CHAIR	2.00	Officer Director	$0	$0	$0
SALLY MCCRACKEN	TRUSTEE	2.00	Director	$0	$0	$0
HAFSAH MIJINYAWA	TRUSTEE	2.00	Director	$0	$0	$0
SANDRA MURCHISON	TRUSTEE	2.00	Director	$0	$0	$0
BETTY STREMICH	TRUSTEE	2.00	Director	$0	$0	$0
KATHI TALLEY	TRUSTEE	2.00	Director	$0	$0	$0
PATRICK TAMBLYN	TRUSTEE	2.00	Director	$0	$0	$0
BETTE WARREN	TRUSTEE	2.00	Director	$0	$0	$0
CHAD WIEBESICK	TRUSTEE	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	$627,969	$393,353	$1,236,054	$234,616
2022	$778,319	$242,970	$1,000,863	$535,349
2021	$228,663	$160,981	$467,031	$67,682
2020	$150,952	$136,705	$385,173	$14,247
2019	$233,500	$229,355	$374,425	$4,145
2018	$342,213	$235,226	$404,931	$106,987

RIVERSIDE ARTS CENTER FOUNDATION INC