Midland Center for the Arts Inc (EIN 386114020) - 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

1968

Legal Domicile

Principal Officer

Kelley Kritzman

Phone

9896315930

Tax Period

2024-09-01 to 2025-08-31

Midland Center for the Arts Inc, founded in 1968, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $19.2M in total revenue in fiscal year 2024. Revenue surged 75% from the prior year, signaling strong growth momentum. The organization ran a surplus of $6.9M, a strong 36% operating margin.

Mission

To entertain, educate and inspire a diverse and expanding regional audiences in the arts, sciences and humanities.

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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 $6,672,604

Program Service Revenue $4,385,960

Investment Income $8,116,701

Other Revenue $0

TOTAL REVENUE $19,175,265

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,489,496

Fundraising Expenses $358,438

Program Expenses $8,337,225

Other Expenses $7,831,148

TOTAL EXPENSES $12,320,644

Year-over-Year Comparison

	2024	2023	Change
Revenue	$19,175,265	$10,928,817	+0.8%
Expenses	$12,320,644	$10,612,676	+0.2%
Net Income	$6,854,621	$316,141	+20.7%

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

156

Volunteers

593

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

$292,003

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jenifer Acosta	Chair	1.00	Officer Director	$0	$0	$0
Bradley Bidwell	Vice Chair	1.00	Officer Director	$0	$0	$0
Jessica Snyder	Secretary	1.00	Officer Director	$0	$0	$0
David Jaffe	Treasurer	1.00	Officer Director	$0	$0	$0
Mark Flegenheimer	Immediate Past Chair	1.00	Officer Director	$0	$0	$0
Brooke Beebe	Director	1.00	Director	$0	$0	$0
Honorable Stephen Carras	Director	1.00	Director	$0	$0	$0
Maureen Donker	Director	1.00	Director	$0	$0	$0
James Jenkins	Director	1.00	Director	$0	$0	$0
Joy Yang Jiao	Director	1.00	Director	$0	$0	$0
Pavel Konecny	Director	1.00	Director	$0	$0	$0
David Midkiff	Director	1.00	Director	$0	$0	$0
Ricardo Resio	Director	1.00	Director	$0	$0	$0
Lisa Ungerleider	Director	1.00	Director	$0	$0	$0
Dr Lydia Watson	Director	1.00	Director	$0	$0	$0
Matthew Travis	CEO	40.00	Officer	$124,576	$18,468	$143,044
Kelley Kritzman	CFO	40.00	Officer	$133,795	$15,164	$148,959
Dave B Jao	VP Programming	40.00	Highest	$111,812	$12,033	$123,845
Jon Loos	Former CEO	40.00		$219,084	$22,749	$241,833

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
2025	$19,175,265	$12,320,644	$129,956,017	$6,854,621
2024	$10,928,817	$10,612,676	$119,880,225	$316,141
2023	$13,575,757	$10,760,499	$111,494,900	$2,815,258
2022	$38,518,398	$9,352,629	$105,520,024	$29,165,769
2021	$12,240,026	$6,665,721	$89,623,381	$5,574,305
2020	$9,247,429	$10,065,615	$72,364,507	$-818,186
2019	$11,293,056	$10,849,171	$73,062,930	$443,885
2018	$8,698,713	$10,154,978	$74,840,129	$-1,456,265

Midland Center for the Arts Inc