HUNAKAI STUDIO OF FINE ARTS INC

EIN: 432081419 501(c)(3) Arts, Culture & Humanities

FOXBORO, MA

Total Revenue
$261,687
Total Expenses
$296,525
Total Assets
$160,634
Net Assets
$-24,524
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2005
Legal Domicile
MA
Principal Officer
KATHERINE C GERRY
Phone
5085435665
Tax Period
2023-01-01 to 2023-12-31

HUNAKAI STUDIO OF FINE ARTS INC, founded in 2005, is a small nonprofit in the Arts, Culture & Humanities sector that reported $262K in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year. Expenses of $297K exceeded revenue, resulting in a 13% operating deficit.

Mission

THE CORPORATION WAS ESTABLISHED FOR THE PURPOSE OF PROVIDING, PROMOTING, ENCOURAGING, AND ENHANCING EDUCATION IN THE ARTS, AND FOR ACQUIRING AND ADMINISTRATING STUDIO FACILITIES WHERE STUDENTS WORK WITH SKILLED ARTISTS AND EACH OTHER TO DEVELOP THEIR SKILLS.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $9,145
Program Service Revenue $252,351
Investment Income $0
Other Revenue $191
TOTAL REVENUE $261,687

Expense Breakdown

Grants Paid $212
Salaries & Benefits $182,166
Fundraising Expenses $0
Program Expenses $183,743
Other Expenses $114,147
TOTAL EXPENSES $296,525

Year-over-Year Comparison

2023 2022 Change
Revenue $261,687 $277,876 -0.1%
Expenses $296,525 $337,682 -0.1%
Net Income $-34,838 $-59,806 -0.4%
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

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Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
9
Employees
3
Volunteers
25

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
3
$116,649
Total Directors
8
$117,315
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KATHERINE C GERRY PRESIDENT 40.00
Officer Director
$64,649 $0 $64,649
PHILIP N CAREY TREASURER 30.00
Officer
$52,000 $0 $52,000
CARLA B CAREY DIRECTOR 2.00
Director
$39,277 $0 $39,277
MICHAEL A EVANS DIRECTOR 2.00
Director
$13,389 $0 $13,389
MICHAEL R FIORE DIRECTOR 2.00
Director
$0 $0 $0
GISELLE GILL DIRECTOR 2.00
Director
$0 $0 $0
RICHARD G MANBURG DIRECTOR 2.00
Director
$0 $0 $0
MICHAEL PERRON CLERK 2.00
Officer Director
$0 $0 $0
JEANETTE ROWLEY DIRECTOR 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 $261,687 $296,525 $160,634 $-34,838
2022 $277,876 $337,682 $202,190 $-59,806
2021 $356,404 $308,425 $272,352 $47,979
2020 $236,723 $210,590 $226,694 $26,133
2019 $283,538 $306,842 $31,657 $-23,304
2018 $247,178 $277,017 $54,345 $-29,839
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