VESSEL FOR ARTS

EIN: 453697190 501(c)(3) Human Services

Alto, MI

Total Revenue
$406,168
Total Expenses
$423,507
Total Assets
$47,577
Net Assets
$42,935
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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
2011
Legal Domicile
MI
Principal Officer
Brad Garnaat
Phone
6164388338
Tax Period
2023-06-01 to 2024-05-31

VESSEL FOR ARTS, founded in 2011, is a small nonprofit in the Human Services sector that reported $406K in total revenue in fiscal year 2023.

Mission

Our purpose is to establish a community of teaching and learning artists who use their God-given talents to create, produce, perform or teach art that glorifies and honors the Lord.

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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 $43,501
Program Service Revenue $362,667
Investment Income $0
Other Revenue $0
TOTAL REVENUE $406,168

Expense Breakdown

Grants Paid $0
Salaries & Benefits $88,500
Fundraising Expenses $1,483
Program Expenses $304,933
Other Expenses $330,332
TOTAL EXPENSES $423,507

Year-over-Year Comparison

2023 2022 Change
Revenue $406,168 $387,972 +0.0%
Expenses $423,507 $362,911 +0.2%
Net Income $-17,339 $25,061 -1.7%
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

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Governance

Voting Members
3
Independent Members
N/A
Employees
N/A
Volunteers
300

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
$88,500
Total Directors
1
$88,500
Key Employees
1
$88,500
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Brad Garnaat President and Executive Director 60
Officer Director Key Emp Highest
$88,500 $0 $88,500
Beverly Bishop Secretary 0
Officer
$0 $0 $0
Tanya Garnaat Treasurer 15
Officer
$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
2025 No data No data No data No data
2024 $406,168 $423,507 $47,577 $-17,339
2023 $387,972 $362,911 $66,179 $25,061
2022 $318,861 $305,830 $40,769 $13,031
2021 $86,365 $87,470 $27,035 $-1,105
2020 $274,152 $310,168 $26,201 $-36,016
2019 $367,754 $350,423 $62,654 $17,331
2018 $370,602 $334,704 $48,456 $35,898
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