SPIRIT OF THE LAKE COMMUNITY ARTS (EIN 454770508) - 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

2012

Legal Domicile

Tax Period

2023-07-01 to 2024-06-30

SPIRIT OF THE LAKE COMMUNITY ARTS, founded in 2012, is a small nonprofit in the Education sector that reported $173K in total revenue in fiscal year 2023. Revenue fell 31% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $75K, a strong 44% operating margin.

Mission

THE MISSION OF SOLCA IS TO SERVE ITS SURROUNDING COMMUNITY AS WELL AS ITS OWN ARTISTS, CRAFTSPEOPLE AND EDUCATORS, WITH SOLCAS PRIMARY ORIENTATION DIRECTED TOWARD THE PRACTICE AND CELEBRATION OF ARTS AND CULTURE.

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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 $112,019

Program Service Revenue $48,554

Investment Income $11,954

Other Revenue $125

TOTAL REVENUE $172,652

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,522

Fundraising Expenses $0

Program Expenses $64,932

Other Expenses $90,898

TOTAL EXPENSES $97,420

Year-over-Year Comparison

	2023	2022	Change
Revenue	$172,652	$249,339	-0.3%
Expenses	$97,420	$334,345	-0.7%
Net Income	$75,232	$-85,006	-1.9%

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
LYNN JOHANSON	FORMER BOARD MEMBER	2.00	Director	$0	$0	$0
TED LEWIS	FORMER BOARD MEMBER	2.00	Director	$0	$0	$0
LAUREL HYVONEN	FORMER BOARD MEMBER	2.00	Director	$0	$0	$0
ALISON AUNE	BOARD MEMBER	2.00	Director	$0	$0	$0
THERESA HORNSTEIN	BOARD MEMBER	2.00	Director	$0	$0	$0
JON HINKEL	BOARD CHAIR	10.00	Officer Director	$0	$0	$0
SUSANNA GAUNT	SECRETARY	2.00	Officer Director	$0	$0	$0
PETER SPOONER	TREASURER	4.00	Officer Director	$0	$0	$0
GEORGIA LANE	FORMER BOARD CHAIR	10.00	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	$172,652	$97,420	$465,759	$75,232
2023	$249,339	$334,345	$396,347	$-85,006
2022	$405,704	$528,897	$485,943	$-123,193
2021	$328,137	$334,442	$503,002	$-6,305
2020	$307,894	$302,562	$510,170	$5,332
2019	$302,595	$316,852	$407,219	$-14,257

SPIRIT OF THE LAKE COMMUNITY ARTS