THE AUSTIN AREA COMMISSION FOR THE… - Form 990 Financial Data

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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

1990

Legal Domicile

Principal Officer

PENNY KINNEY

Phone

5074340934

Tax Period

2023-01-01 to 2023-12-31

THE AUSTIN AREA COMMISSION FOR THE ARTS INC, founded in 1990, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $459K in total revenue in fiscal year 2023. Expenses of $598K exceeded revenue, resulting in a 30% operating deficit.

Mission

AUSTIN AREA ARTS APPLAUDS AND ADVANCES ALL ARTS BY WELCOMING DIVERSE, CREATIVE INDIVIDUALS TO SHARE THEIR UNIQUE TALENTS TO INSPIRE OUR COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $288,730 Revenue: $44,051

ARTWORKS CENTER - PROVIDE A VENUE FOR ARTISTS TO CREATE, DISPLAY AND SELL THEIR ART. PROVIDE ART EDUCATION FOR ALL AGES. PROVIDE AN INTIMATE LIVE MUSIC VENUE. 107 RETAIL ARTISTS GENERATED $58,000+...

ARTWORKS CENTER - PROVIDE A VENUE FOR ARTISTS TO CREATE, DISPLAY AND SELL THEIR ART. PROVIDE ART EDUCATION FOR ALL AGES. PROVIDE AN INTIMATE LIVE MUSIC VENUE. 107 RETAIL ARTISTS GENERATED $58,000+ GROSS RETAIL SALES. HOSTED 2 LIVE MUSIC, 5 GALLERY EXHIBITS, 8 OPEN MUSIC JAMS, 26 ADULT ART CLASSES, 48 KIDS ART CLASSES = 89 TOTAL EVENTS. SERVED 668 CHILDREN AND 698 ADULTS = 1,366 TOTAL PLUS 215 ARTISTS.

Program 2

Expenses: $225,246 Revenue: $18,672

PARAMOUNT THEATRE - MAINTAIN THE HISTORIC 1929 PARAMOUNT THEATRE. PRESENT HIGH QUALITY LIVE MUSIC AND OTHER PERFORMING ARTS TO THE PUBLIC AT REASONABLE PRICES. OFFER LOW COST RENTAL VENUE TO THE...

PARAMOUNT THEATRE - MAINTAIN THE HISTORIC 1929 PARAMOUNT THEATRE. PRESENT HIGH QUALITY LIVE MUSIC AND OTHER PERFORMING ARTS TO THE PUBLIC AT REASONABLE PRICES. OFFER LOW COST RENTAL VENUE TO THE AREA'S ARTS COMMUNITY. 2023 EVENTS: 1 MOVIE PREMIER, 1 HISTORICAL CONFERENCE, 1 MAGIC SHOW, 2 DANCE PERFORMANCES, 2 TOURS, 9 PRIVATE MOVIES, 10 LIVE MUSIC SHOWS, 20 PUBLIC MOVIES=46 TOTAL. SERVED 683 CHILDREN / 1,793 ADULTS = 2,476 TOTAL PLUS 284 ARTISTS.

Program 3

Expenses: $115,240 Revenue: $23,503

ARTWORKS FESTIVAL - CELEBRATE VISUAL, PERFORMING AND LITERARY ARTISTS WITH A FREE TWO-DAY EVENT IN THE HEART OF DOWNTOWN AUSTIN. EVENT CONTRIBUTES TO COMMUNITY QUALITY OF LIFE AND GENERATES ECONOMIC IMPACT FOR LOCAL LODGING, RESTAURANTS AND RETAIL. 10,000 VISITORS ENJOYED 52 JURIED FINE ART EXHIBITORS, 8 EMERGING ART EXHIBITORS, 10 HANDS-ON ART EXPERIENCES, 14 MUSIC ACTS, 20 AUTHORS, 6 PERFORMING ARTS OFFERINGS. THE EVENT WAS SUPPORTED BY 73 INDIVIDUAL DONORS, 42 BUSINESS DONORS AND 200+ VOLUNTEER SHIFTS FILLED.

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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 $373,371

Program Service Revenue $86,226

Investment Income $5,809

Other Revenue $-6,671

TOTAL REVENUE $458,735

Expense Breakdown

Grants Paid $0

Salaries & Benefits $240,831

Fundraising Expenses $0

Program Expenses $629,216

Other Expenses $356,856

TOTAL EXPENSES $597,687

Year-over-Year Comparison

	2023	2022	Change
Revenue	$458,735	$449,988	+0.0%
Expenses	$597,687	$787,223	-0.2%
Net Income	$-138,952	$-337,235	-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

250

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

$78,170

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PENNY KINNEY	PRESIDENT	5.00	Officer Director	$0	$0	$0
RAE DAWN RAO	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
MICHELLE LILLY	TREASURER	5.00	Officer Director	$0	$0	$0
RICK YOUNG	SECRETARY	5.00	Officer Director	$0	$0	$0
AUSTERE APOLLO	DIRECTOR	1.00	Director	$0	$0	$0
DOMONIQUE VENZANT	DIRECTOR	1.00	Director	$0	$0	$0
ISAAC LEYK	DIRECTOR	1.00	Director	$0	$0	$0
JOHN BECKMAN	DIRECTOR	1.00	Director	$0	$0	$0
KANDACE FEIST	DIRECTOR	1.00	Director	$0	$0	$0
KRISTEN OLSON	DIRECTOR	1.00	Director	$0	$0	$0
LAURA S HELLE	EXECUTIVE DIRECTOR	40.00	Officer	$78,170	$0	$78,170

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	$458,735	$597,687	$2,520,893	$-138,952
2022	$449,988	$787,223	$2,713,325	$-337,235
2021	$737,066	$490,471	$3,054,473	$246,595
2020	$703,498	$405,741	$3,088,525	$297,757
2019	$467,834	$539,438	$2,534,483	$-71,604
2018	$595,725	$559,551	$2,563,508	$36,174

THE AUSTIN AREA COMMISSION FOR THE ARTS INC