GREAT RIVER ARTS ASSOCIATION

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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

1975

Legal Domicile

Principal Officer

LINDSEY DERRY

Phone

3206320960

Tax Period

2023-09-01 to 2024-08-31

GREAT RIVER ARTS ASSOCIATION, founded in 1975, is a small nonprofit that reported $210K in total revenue in fiscal year 2023.

Mission

THE GREAT RIVER ARTS ASSOCIATION EXISTS TO ENRICH LIVES BY PROVIDING ARTS EXPERIENCES AND SERVICES TO THE PEOPLE OF MORRISON COUNTY AND THE SURROUNDING COMMUNITIES.

Program Service Accomplishments

Program 1

Expenses: $23,494 Revenue: $16,822

GREAT RIVER ARTS (GRA)OVERSEE TWO FREE ART GALLERIES (MAIN AND FRONT)LOCATED ONSITE AT GRA (122 FIRST STREET SE, LITTLE FALLS). IN FY 24, GRA CURATED 15 EXHIBITS, INCLUDING 3 HIGH SCHOOL SHOWS, THAT FEATURED THE WORK OF 216 ARTISTS AND HOSTED 11 ARTISTS RECEPTIONS. UNDER GRA'S VISUAL ARTS PROGRAMMING, 45 ARTISANS HAVE WORK ON CONSIGNMENT - AVAILABLE FOR SALE IN THE RETAIL SPACE.

Program 2

Expenses: $106,823 Revenue: $112,387

UNDER GRA'S PERFORMING ARTS PROGRAMMING, 23 EVENTS WERE HOSTED INCLUDING MUSICAL/GRA LIVE PERFORMANCES, ALONG WITH A VARIETY OF FREE EVENTS SUCH AS "OPEN MIC NIGHT" EVENTS WHERE THE COMMUNITY SHARES THEIR TALENT (POETRY, MUSIC, VOICE, SPOKEN WORD, ETC.) ON GRA'S STAGE. GREAT RIVER TELEVISION (GRTV) PROGRAMMING IS A UNIQUE COMMUNITY RESOURCE THAT PROVIDES MORE THAN 6500 HOURS OF FREE CONTENT - ACCESSIBLE ON PUBLIC ACCESS CHANNEL 180/6 AND YOUTUBE. IN ADDITION STAFF SUPPORTED 12 PRIVATE RENTALS - CONNECTING OUR SPACE TO COMMUNITY MEMBERS. GRA PARTICIPATED IN A 8 COMMUNITY EVENTS W/LOCAL BUSINESSES SPONSORING TRICK OR TREAT TO HUNDREDS OF CHILDREN, MARKETS AND MUSIC, AND AN AMERICANA EVENT FEATURING CLASSIC CARS, LIVE MUSIC AND ART.

Program 3

Expenses: $11,282 Revenue: $8,954

GRA PROVIDES ARTS EDUCATION PROGRAMMING FOR YOUTH AND ADULTS, BY CONNECTING RESIDENTS AND VISITORS TO ENGAGING AND CREATIVE OPPORTUNITIES. THIS BODY OF WORK INCREASES A PARTICIPANTS KNOWLEDGE, SKILLS AND UNDERSTANDING OF VARIOUS ARTISTIC DISCIPLINES, INCLUDING VISUAL (PAINTING, MIXED MEDIA, FABRIC, GLASS, DRAWING, WATERCOLOR, ETC.), MULTIMEDIA, PERFORMING AND LITERARY ARTS. DURING THIS FISCAL YEAR, GRA OFFERED 27 ART EDUCATION PROGRAMS INCLUDING GALLERY TALKS, SCHOOL TOURS AND PAINTING CLASSES.

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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 $62,028

Program Service Revenue $138,163

Investment Income $184

Other Revenue $9,437

TOTAL REVENUE $209,812

Expense Breakdown

Grants Paid $0

Salaries & Benefits $95,543

Fundraising Expenses $5,637

Program Expenses $141,599

Other Expenses $114,205

TOTAL EXPENSES $209,748

Year-over-Year Comparison

	2023	2022	Change
Revenue	$209,812	$196,442	+0.1%
Expenses	$209,748	$233,292	-0.1%
Net Income	$64	$-36,850	-1.0%

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

$45,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIKA POWERS	EXECUTIVE DI	40.00	Officer	$45,000	$0	$45,000
LINDSEY DERRY	PRESIDENT	2.00	Officer	$0	$0	$0
LANE GOEBEL	VICE PRESIDE	2.00	Officer	$0	$0	$0
RHONDA SCHMIDT	SECRETARY	2.00	Officer	$0	$0	$0
RON BIEGANEK	TREASURER	2.00	Officer	$0	$0	$0
MARK GERBI	DIRECTOR	1.00	Director	$0	$0	$0
SHERYL JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
KRIS VONBERGE	DIRECTOR	1.00	Director	$0	$0	$0
JUDY UEBELACKER	DIRECTOR	1.00	Director	$0	$0	$0
PAT ARNOLD	DIRECTOR	1.00	Director	$0	$0	$0
SHEILA MCCOY	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
2025	No data	No data	No data	No data
2024	$209,812	$209,748	$260,157	$64
2023	$196,442	$233,292	$276,127	$-36,850
2022	$186,767	$219,000	$308,270	$-32,233
2021	$223,339	$156,022	$350,722	$67,317
2020	$207,948	$215,970	$299,099	$-8,022
2019	$264,408	$304,414	$293,819	$-40,006
2018	$298,758	$291,644	$256,502	$7,114