LANESBORO ARTS CENTER (EIN 411731338) - 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

1993

Legal Domicile

Principal Officer

KARA MALONEY

Phone

5074672446

Tax Period

2023-01-01 to 2023-12-31

LANESBORO ARTS CENTER, founded in 1993, is a small nonprofit in the Arts, Culture & Humanities sector that reported $383K in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $492K exceeded revenue, resulting in a 28% operating deficit.

Mission

LANESBORO ARTS CENTER SERVES AS A REGIONAL CATALYST FOR ARTISTIC EXCELLENCE AND EDUCATIONAL DEVELOPMENT IN PROVIDING DIVERSE ART EXPERIENCES FOR PEOPLE OF ALL AGES.

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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 $225,190

Program Service Revenue $146,668

Investment Income $6,223

Other Revenue $5,312

TOTAL REVENUE $383,393

Expense Breakdown

Grants Paid $0

Salaries & Benefits $232,948

Fundraising Expenses $31,575

Program Expenses $379,072

Other Expenses $258,599

TOTAL EXPENSES $491,547

Year-over-Year Comparison

	2023	2022	Change
Revenue	$383,393	$338,351	+0.1%
Expenses	$491,547	$421,614	+0.2%
Net Income	$-108,154	$-83,263	+0.3%

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

$55,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KARA MALONEY	EXECUTIVE DI	40.00	Officer	$55,000	$0	$55,000
MICHAEL AUGUSTIN	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
TIANNA DEGARMO	VICE BOARD C	1.00	Officer Director	$0	$0	$0
NICKOLAS GUDMUNDSON	SECRETARY	1.00	Officer Director	$0	$0	$0
JOHN TORGRIMSON	TREASURER	1.00	Officer Director	$0	$0	$0
CECILIA CORNEJO	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
STENA LIEB	DIRECTOR	1.00	Director	$0	$0	$0
RENEE BERGSTROM	DIRECTOR	1.00	Director	$0	$0	$0
ELAINE EDWARDS	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
2024	No data	No data	No data	No data
2023	$383,393	$491,547	$782,244	$-108,154
2022	$338,351	$421,614	$891,539	$-83,263
2021	$481,893	$380,449	$969,983	$101,444
2020	$292,679	$352,375	$910,784	$-59,696
2019	$341,520	$390,874	$992,175	$-49,354

LANESBORO ARTS CENTER