MIDWAY CONTEMPORARY ART (EIN 411974608) - 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

2000

Legal Domicile

Principal Officer

JOHN RASMUSSEN

Phone

6126054504

Tax Period

2023-01-01 to 2023-12-31

MIDWAY CONTEMPORARY ART, founded in 2000, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.3M in total revenue in fiscal year 2023. Revenue fell 22% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $583K, a strong 46% operating margin.

Mission

MIDWAY CONTEMPORARY ART IS A NONPROFIT ORGANIZATION THAT SUPPORTS THE CREATION OF AND REFLECTION UPON VISUAL ART. MIDWAY FACILITATES SIGNIFICANT NEW DEVELOPMENTS IN THE FIELD AND PRESENTS AUDIENCES WITH INTIMATE ACCESS TO VISUAL CULTURE.

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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 $1,146,231

Program Service Revenue $71

Investment Income $0

Other Revenue $111,420

TOTAL REVENUE $1,257,722

Expense Breakdown

Grants Paid $51,500

Salaries & Benefits $358,858

Fundraising Expenses $86,076

Program Expenses $526,563

Other Expenses $264,140

TOTAL EXPENSES $674,498

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,257,722	$1,603,406	-0.2%
Expenses	$674,498	$768,770	-0.1%
Net Income	$583,224	$834,636	-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

N/A

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

$130,152

Total Directors

$130,152

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALAN POLSKY	CHAIR	2.00	Officer Director	$0	$0	$0
CAROLYN TAYLOR	TRUSTEE	2.00	Director	$0	$0	$0
JAMES CAHN	TRUSTEE	2.00	Director	$0	$0	$0
JOHN RASMUSSEN	EXECUTIVE DIR.	40.00	Officer Director	$130,152	$0	$130,152
JULIA OFFENHAUSER	TRUSTEE	2.00	Director	$0	$0	$0
KAREN HEITHOFF	TRUSTEE	2.00	Director	$0	$0	$0
MATTHEW KENNEDY	TREASURER	2.00	Officer Director	$0	$0	$0
KEVIN HACKLER	TRUSTEE	2.00	Director	$0	$0	$0
LESLIE COHAN	TRUSTEE	2.00	Director	$0	$0	$0
PAO HOUA HER	TRUSTEE	2.00	Director	$0	$0	$0
SALLY BLANKS	TRUSTEE	2.00	Director	$0	$0	$0
UTE BERTOG	TRUSTEE	2.00	Director	$0	$0	$0
TOBY DAYTON	TRUSTEE2	2.00	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	$1,257,722	$674,498	$4,869,036	$583,224
2022	$1,603,406	$768,770	$3,877,893	$834,636
2021	$1,320,927	$506,154	$2,557,305	$814,773
2020	$697,615	$691,208	$549,395	$6,407
2019	$513,523	$594,611	$538,543	$-81,088
2018	$810,179	$633,695	$663,124	$176,484

MIDWAY CONTEMPORARY ART