COLLECTIVE ARTS NETWORK

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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

2014

Legal Domicile

Principal Officer

MICHAEL GILL

Phone

2162353564

Tax Period

2024-01-01 to 2024-12-31

COLLECTIVE ARTS NETWORK, founded in 2014, is a small nonprofit in the Arts, Culture & Humanities sector that reported $196K in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $221K exceeded revenue, resulting in a 13% operating deficit.

Mission

EDUCATE ABOUT, PROMOTE AND ADVANCE THE VISUAL ARTS ON BEHALF OF GALLERIES, MUSEUMS, AND EDUCATIONAL INSTITUTIONS IN NORTHEAST OHIO.

Program Service Accomplishments

Program 1

Expenses: $168,337

A)MANAGED COLLECTIVE COMMUNICATION FOR THE NORTHEAST OHIO ART SECTOR ON BEHALF OF 95 DIVERSE ORGANIZATIONS. B)PUBLISHED ONLINE AND IN ITS QUARTERLY PRINT MAGAZINE 112 PREVIEWS OF EXHIBITIONS, PLUS 32 FEATURE STORIES, ALL DISTRIBUTED FREE IN MORE THAN 500 LOCATIONS ACROSS 5 COUNTIES. C)PUBLISHED CRITICAL REVIEWS OF MORE THAN 50 EXHIBITIONS IN CAN BLOG ONLINE.

Program 2

D)PUBLISHED 52 EDITIONS OF THE CAN WEEKLY E-NEWSLETTER--A FREE, COMPREHENSIVE, HYPERLINKED LISTING OF EXHIBITIONS, TALKS, AND RELATED EVENTS IN NORTHEAST OHIO.

Program 3

E)INTRODUCED THE CONNECTING TO FUTURES SERIES, PROFILING CAREER PATHS OF ARTS PROFESSIONALS.

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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 $124,639

Program Service Revenue $62,180

Investment Income $5

Other Revenue $9,333

TOTAL REVENUE $196,157

Expense Breakdown

Grants Paid $0

Salaries & Benefits $102,889

Fundraising Expenses $36,411

Program Expenses $168,337

Other Expenses $117,926

TOTAL EXPENSES $220,815

Year-over-Year Comparison

	2024	2023	Change
Revenue	$196,157	$173,095	+0.1%
Expenses	$220,815	$257,468	-0.1%
Net Income	$-24,658	$-84,373	-0.7%

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

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

$50,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL GILL	EXECUTIVE DI	40.00	Officer	$50,000	$0	$50,000
JOHN FARINA	PRESIDENT	6.00	Officer Director	$0	$0	$0
GINA WASHINGTON	SECRETARY	6.00	Officer Director	$0	$0	$0
EMILY COLE	BOARD MEMBER	3.00		$0	$0	$0
JOHN COYNE	BOARD MEMBER	3.00		$0	$0	$0
JON LOGAN MD	BOARD MEMBER	3.00		$0	$0	$0
LIZ MAUGANS	VICE PRESIDE	6.00		$0	$0	$0
KAREN PETKOVIC	BOARD MEMBER	3.00		$0	$0	$0
SHARON MILLIGAN PHD	BOARD MEMBER	3.00		$0	$0	$0
KATHY SONNHALTER	BOARD MEMBER	3.00		$0	$0	$0
MARY K THOMAS	BOARD MEMBER	3.00		$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	$196,157	$220,815	$167,746	$-24,658
2023	$173,095	$257,468	$179,943	$-84,373
2022	$379,300	$426,232	$277,822	$-46,932
2021	$248,872	$240,257	$313,127	$8,615
2020	$300,983	$255,308	$294,622	$45,675
2019	$261,512	$245,450	$240,331	$16,062
2018	$359,494	$365,739	$226,332	$-6,245