LUDINGTON AREA ARTS COUNCIL (EIN 421625326) - 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

2005

Legal Domicile

Principal Officer

THOMAS A HAWLEY

Phone

2318452787

Tax Period

2023-01-01 to 2023-12-31

LUDINGTON AREA ARTS COUNCIL, founded in 2005, is a small nonprofit in the Arts, Culture & Humanities sector that reported $347K in total revenue in fiscal year 2023. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $384K exceeded revenue, resulting in a 11% operating deficit.

Mission

TO FOSTER THE DEVELOPMENT OF ENJOYMENT AND EDUCATION IN THE ARTS. INCLUDING LITERATURE, MUSIC, THEATER, DANCE, AND VISUAL ARTS. TO SUPPORT ARTISTS AND EXISTING CULTURAL ENTITIES AND PROMOTE INTERRELATIONS AND COOPERATIONS AMONG THEM AND TO ENHANCE THE CULTURAL ENVIRONMENT OF THE COMMUNITY.

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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 $158,603

Program Service Revenue $123,242

Investment Income $7,610

Other Revenue $57,797

TOTAL REVENUE $347,252

Expense Breakdown

Grants Paid $610

Salaries & Benefits $152,701

Fundraising Expenses $38,373

Program Expenses $189,578

Other Expenses $230,425

TOTAL EXPENSES $383,736

Year-over-Year Comparison

	2023	2022	Change
Revenue	$347,252	$272,812	+0.3%
Expenses	$383,736	$294,669	+0.3%
Net Income	$-36,484	$-21,857	+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

$64,967

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS HAWLEY	PRESIDENT	5.00	Officer Director	$0	$0	$0
HEATHERY TYKOSKI	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
DENISE OTTINGER	SECRETARY	4.00	Officer Director	$0	$0	$0
SANDRA HOLCOMBE	TREASURER	5.00	Officer Director	$0	$0	$0
FREMONT JOHN ASHTON	DIRECTOR	2.00	Director	$0	$0	$0
JUSTIN DAVID GUSTAFSON	DIRECTOR	2.00	Director	$0	$0	$0
CATHY HUNT	DIRECTOR	2.00	Director	$0	$0	$0
BILL KERANS	DIRECTOR	2.00	Director	$0	$0	$0
MIKE COLEMAN	DIRECTOR	2.00	Director	$0	$0	$0
DAVID PRESTON	DIRECTOR	2.00	Director	$0	$0	$0
SHELBY SOBERALSKI	DIRECTOR	2.00	Director	$0	$0	$0
ANDREW SKINNER	EXECUTIVE DIRECTOR	40.00	Key Emp	$64,967	$0	$64,967

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	$347,252	$383,736	$770,636	$-36,484
2022	$272,812	$294,669	$793,257	$-21,857
2021	$298,550	$238,153	$813,364	$60,397
2020	$248,232	$181,704	$754,848	$66,528
2019	$196,361	$182,232	$809,033	$14,129
2018	$197,309	$153,087	$857,019	$44,222

LUDINGTON AREA ARTS COUNCIL