SIDE STREET STUDIO ARTS

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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

2013

Legal Domicile

Principal Officer

ERIN REHBERG

Phone

8474292276

Tax Period

2024-01-01 to 2024-12-31

SIDE STREET STUDIO ARTS, founded in 2013, is a small nonprofit in the Arts, Culture & Humanities sector that reported $564K in total revenue in fiscal year 2024. Expenses of $496K left a modest 12% surplus.

Mission

SIDE STREET STUDIO ARTS ADVANCES ENGAGEMENT IN THE ARTS BY PROVIDING INCLUSIVE ACCESS TO EXHIBITION, PERFORMANCE, EDUCATION, AND ADVOCACY RESOURCES, BECAUSE ART IS IMPORTANT.

Program Service Accomplishments

Program 1

Expenses: $396,478 Revenue: $123,277

SIDE STREET STUDIO ARTS PROVIDES EDUCATIONAL AND CREATIVE RESOURCES AND AN ACCESSIBLE SPACE, RUN BY ARTISTS. WE PROVIDE LAB ACCESS, ARTS AND CULTURAL EVENTS AND WORKSHOPS. SIDE STREET STUDIO ARTS...

SIDE STREET STUDIO ARTS PROVIDES EDUCATIONAL AND CREATIVE RESOURCES AND AN ACCESSIBLE SPACE, RUN BY ARTISTS. WE PROVIDE LAB ACCESS, ARTS AND CULTURAL EVENTS AND WORKSHOPS. SIDE STREET STUDIO ARTS THEATER OPENED APRIL 2014. AN INTIMATE PERFORMANCE SPACE, PERFECT FOR EVENT RENTALS, ADDITIONAL GALLERY SPACE AND SO MUCH MORE. THE THEATER IS A ONE-OF-A-KIND VENUE IN DOWNTOWN ELGIN.

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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 (2024)

Revenue Breakdown

Contributions & Grants $440,742

Program Service Revenue $113,341

Investment Income $5,162

Other Revenue $4,774

TOTAL REVENUE $564,019

Expense Breakdown

Grants Paid $0

Salaries & Benefits $310,469

Fundraising Expenses $0

Program Expenses $396,478

Other Expenses $185,131

TOTAL EXPENSES $495,600

Year-over-Year Comparison

	2024	2023	Change
Revenue	$564,019	$528,124	+0.1%
Expenses	$495,600	$601,951	-0.2%
Net Income	$68,419	$-73,827	-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

$64,250

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICK TANNER MELVIN	Executive Dir.	40.00	Director	$35,450	$0	$35,450
ERIN REHBERG	Executive Dir.	40.00	Director	$28,800	$0	$28,800
URSULA BORODINSKA	Director	1.00	Director	$0	$0	$0
RAMONA BURNS	Director	1.00	Director	$0	$0	$0
SARAH MANATA	SECRETARY/TREAS	2.00	Officer Director	$0	$0	$0
CARLOS CHAVEZ	Director	1.00	Director	$0	$0	$0
JOE VASSALLO	Director	1.00	Director	$0	$0	$0
FREDDRICK WIMMS	President	2.00	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
2025	No data	No data	No data	No data
2024	$564,019	$495,600	$122,859	$68,419
2023	$528,124	$601,951	$64,649	$-73,827
2022	$433,387	$417,806	$170,874	$15,581
2021	$270,172	$309,580	$59,394	$-39,408
2020	$276,367	$249,948	$98,802	$26,419