SARASOTA ACADEMY OF THE ARTS INC (EIN 460657261) - 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

Principal Officer

MARY STEWART KENNEDY

Phone

9413772278

Tax Period

2023-07-01 to 2024-06-30

SARASOTA ACADEMY OF THE ARTS INC, founded in 2012, is a community nonprofit in the Education sector that reported $2.4M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion.

Mission

THE MISSION OF SARASOTA ACADEMY OF THE ARTS (SAA) IS TO PROVIDE A MOTIVATING, CHALLENGING, AND CREATIVE LEARNING CLIMATE WITH A SAFE, CARING, FAMILY ATMOSPHERE. SAA WILL PROVIDE STUDENTS INTERESTED IN VISUAL AND PERFORMING ARTS WITH RIGOROUS ACADEMIC SKILLS IN LINE WITH FLORIDA STANDARDS AND A STRONG INFUSION OF THE 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 (2023)

Revenue Breakdown

Contributions & Grants $238,602

Program Service Revenue $2,096,339

Investment Income $84

Other Revenue $16,440

TOTAL REVENUE $2,351,465

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,254,904

Fundraising Expenses $0

Program Expenses $1,789,524

Other Expenses $1,029,720

TOTAL EXPENSES $2,284,624

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,351,465	$1,999,628	+0.2%
Expenses	$2,284,624	$2,214,788	+0.0%
Net Income	$66,841	$-215,160	-1.3%

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

170

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
MARY STEWART KENNEDY	President	1.00	Officer Director	$0	$0	$0
DENISE VERHEUL	Vice President	1.00	Officer Director	$0	$0	$0
DAN DEMBICKI	Treasurer	1.00	Officer Director	$0	$0	$0
DEAN BRENNEMAN	Secretary	1.00	Officer Director	$0	$0	$0
PATRICK MIZAK	MEMBER	1.00	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
2025	No data	No data	No data	No data
2024	$2,351,465	$2,284,624	$4,951,934	$66,841
2023	$1,999,628	$2,214,788	$5,092,420	$-215,160
2022	$1,997,005	$1,849,885	$1,841,111	$147,120
2021	$2,038,774	$1,810,056	$1,147,117	$228,718
2020	$2,255,887	$2,096,716	$1,129,297	$159,171
2019	$2,345,909	$2,377,198	$998,719	$-31,289
2018	$2,401,368	$2,247,024	$1,068,040	$154,344

SARASOTA ACADEMY OF THE ARTS INC