PEARSON LAKES ART CENTER (EIN 420930815) - 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

1966

Legal Domicile

Principal Officer

BRAD SCHMITZ

Phone

7123327013

Tax Period

2024-01-01 to 2024-12-31

PEARSON LAKES ART CENTER, founded in 1966, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.0M in total revenue in fiscal year 2024. Revenue fell 49% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $672K, a strong 34% operating margin.

Mission

The Organization's mission is to excite, engage and serve communities within the Iowa Great Lakes Region through our collections, exhibitions, performances, and educational programs; a non-profit center connecting generations of people through exceptional arts experiences.

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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 $390,207

Program Service Revenue $493,721

Investment Income $972,561

Other Revenue $139,281

TOTAL REVENUE $1,995,770

Expense Breakdown

Grants Paid $0

Salaries & Benefits $416,075

Fundraising Expenses $0

Program Expenses $740,103

Other Expenses $907,385

TOTAL EXPENSES $1,323,460

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,995,770	$3,879,598	-0.5%
Expenses	$1,323,460	$1,230,956	+0.1%
Net Income	$672,310	$2,648,642	-0.7%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT KIRSHBAUM	CEO	48.00		$105,050	$0	$105,050
MARILYN CAUDLE	Director	1.00	Director	$0	$0	$0
SARA TAYLOR	Director	1.00	Director	$0	$0	$0
RON MOROCO	Director	1.00	Director	$0	$0	$0
CHRISTOPHER FUHRMAN	Secretary	1.00	Officer Director	$0	$0	$0
JODY OBRIEN	Vice President	1.00	Director	$0	$0	$0
ERIN REED	DIRECTOR	1.00	Director	$0	$0	$0
HANNAH BROWNLEE	Director	0.00	Director	$0	$0	$0
GREG POST	Director	1.00	Director	$0	$0	$0
DIANE WALKER	Director	1.00	Director	$0	$0	$0
KIRK STAUSS	Director	1.00	Director	$0	$0	$0
RYAN MARIS	Director	0.00	Director	$0	$0	$0
ROB OLDSON	Director	0.00	Director	$0	$0	$0
BRAD SCHMITZ	Treasurer	1.00	Officer Director	$0	$0	$0
CARRIE MEYER	President & CEO	1.00	Officer 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	$1,995,770	$1,323,460	$13,338,156	$672,310
2023	$3,879,598	$1,230,956	$12,645,470	$2,648,642
2022	$569,715	$1,085,442	$9,968,414	$-515,727
2021	$1,829,641	$1,010,129	$10,483,985	$819,512
2020	$1,034,479	$763,103	$9,703,116	$271,376
2019	$1,576,129	$891,646	$9,378,487	$684,483
2018	$1,273,150	$919,831	$9,029,877	$353,319
2018	$910,450	$919,831	$9,029,877	$-9,381

PEARSON LAKES ART CENTER