OPEN SPACE FOR ARTS & COMMUNITY (EIN 384216067) - 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

2022

Legal Domicile

Principal Officer

JANET U MCALPIN

Phone

8457358659

Tax Period

2024-01-01 to 2024-12-31

OPEN SPACE FOR ARTS & COMMUNITY, founded in 2022, is a small nonprofit in the Arts, Culture & Humanities sector that reported $509K in total revenue in fiscal year 2024. Revenue fell 31% from the prior year — a significant decline worth monitoring. Expenses of $1.3M exceeded revenue, resulting in a 161% operating deficit.

Mission

TO ENRICH THE LIVES OF VASHON RESIDENTS THROUGH ARTS & COMMUNITY, BRING EXTRAORDINARY ARTISTIC EXPERIENCES TO VASHON, AND PROVIDE A LOCAL SPACE TO GATHER AND ENGAGE IN ACTIVITIES THAT BUILD COMMUNITY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $141,532

Program Service Revenue $307,208

Investment Income $1,519

Other Revenue $59,217

TOTAL REVENUE $509,476

Expense Breakdown

Grants Paid $2,200

Salaries & Benefits $948,717

Fundraising Expenses $0

Program Expenses $1,304,536

Other Expenses $376,423

TOTAL EXPENSES $1,327,340

Year-over-Year Comparison

	2024	2023	Change
Revenue	$509,476	$735,265	-0.3%
Expenses	$1,327,340	$1,263,326	+0.1%
Net Income	$-817,864	$-528,061	+0.5%

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

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

$82,803

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JANET U MCALPIN	PRESIDENT, DIRECTOR	28.00	Officer Director	$0	$0	$0
DAVID E GODSEY	SECRETARY, DIRECTOR	28.00	Officer Director	$0	$0	$0
CHUCK ZIMMER	EXECUTIVE DIRECTOR	40.00	Director	$81,053	$0	$81,053
AMY WIGSTROM	TREASURER, DIRECTOR	0.50	Officer Director	$0	$0	$0
BRIAN PALERMO	DIRECTOR	0.50	Director	$0	$0	$750
INA OPPLIGER	DIRECTOR	0.50	Director	$0	$0	$0
HALBE DOUGHERTY-WOOD	DIRECTOR	0.50	Director	$0	$0	$0
GRACE HEWITT	DIRECTOR	0.50	Director	$0	$0	$0
MAX SORKOWSKY	DIRECTOR	0.50	Director	$0	$0	$1,000

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	$509,476	$1,327,340	$318,206	$-817,864
2023	$735,265	$1,263,326	$297,259	$-528,061

OPEN SPACE FOR ARTS & COMMUNITY