Clear Lake Arts Council (EIN 421112483) - 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

1977

Legal Domicile

Principal Officer

Diane Ostendorf

Phone

6413571998

Tax Period

2024-01-01 to 2024-12-31

Clear Lake Arts Council, founded in 1977, is a small nonprofit that reported $145K in total revenue in fiscal year 2024. Revenue surged 26% from the prior year, signaling strong growth momentum. Expenses of $192K exceeded revenue, resulting in a 33% operating deficit.

Mission

To ignite the creative spirit through the visual, performing & literary arts.

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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 $119,353

Program Service Revenue $13,807

Investment Income $9,601

Other Revenue $1,828

TOTAL REVENUE $144,589

Expense Breakdown

Grants Paid $0

Salaries & Benefits $47,745

Fundraising Expenses $26,111

Program Expenses $118,791

Other Expenses $144,196

TOTAL EXPENSES $191,941

Year-over-Year Comparison

	2024	2023	Change
Revenue	$144,589	$114,892	+0.3%
Expenses	$191,941	$159,056	+0.2%
Net Income	$-47,352	$-44,164	+0.1%

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

$38,358

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Julie Primozich	Executive Dir.	40.00	Officer	$38,358	$0	$38,358
Jan Price	Secretary	1.00	Officer Director	$0	$0	$0
Kathy Ingram	Director	1.00	Director	$0	$0	$0
Tom Dakin	Director	1.00	Director	$0	$0	$0
James Kerns	Director	1.00	Director	$0	$0	$0
Diane Ostendorf	President	1.00	Officer Director	$0	$0	$0
Mike Sogard	Treasurer	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	$144,589	$191,941	$1,416,463	$-47,352
2023	$114,892	$159,056	$1,471,721	$-44,164
2022	$102,358	$193,011	$1,489,068	$-90,653
2021	$128,163	$143,830	$1,596,835	$-15,667
2020	$134,026	$145,194	$1,610,573	$-11,168
2019	$180,848	$173,749	$1,504,455	$7,099
2018	$422,879	$184,756	$1,486,940	$238,123

Clear Lake Arts Council