FREMONT AREA ART ASSOCIATION INC (EIN 470615932) - 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

1981

Legal Domicile

Phone

4027217779

Tax Period

2023-09-01 to 2024-08-31

FREMONT AREA ART ASSOCIATION INC, founded in 1981, is a small nonprofit in the Arts, Culture & Humanities sector that reported $315K in total revenue in fiscal year 2023. Revenue decreased 11% compared to the prior year. The organization ran a surplus of $125K, a strong 40% operating margin.

Mission

FACILITATE OPPORTUNITIES FOR AND APPRECIATION OF ART

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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 $152,631

Program Service Revenue $55,310

Investment Income $28,743

Other Revenue $78,651

TOTAL REVENUE $315,335

Expense Breakdown

Grants Paid $0

Salaries & Benefits $80,951

Fundraising Expenses $2,094

Program Expenses $165,307

Other Expenses $108,932

TOTAL EXPENSES $189,883

Year-over-Year Comparison

	2023	2022	Change
Revenue	$315,335	$356,054	-0.1%
Expenses	$189,883	$190,635	0.0%
Net Income	$125,452	$165,419	-0.2%

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	Role	Reportable Comp	Other Comp	Total
SAM HEINEMAN	Director	Director	$0	$0	$0
JILL ARTHUR	Secretary	Officer Director	$0	$0	$0
KEN SHUSTER	Vice President	Officer Director	$0	$0	$0
KATY JONES	President	Officer Director	$0	$0	$0
HEATHER GOSSETT	Director	Director	$0	$0	$0
CATHY SAEGER	Past President	Director	$0	$0	$0
TROY HOLCOMB	Director	Director	$0	$0	$0
KATE MULLEN	Treasurer	Officer Director	$0	$0	$0
BECKY TURNER	Director	Director	$0	$0	$0
MARA HORNIG	Director	Director	$0	$0	$0
KEN MCELHOSE	Director	Director	$0	$0	$0
CHRISTINE TORRES	Director	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	$315,335	$189,883	$1,370,950	$125,452
2023	$356,054	$190,635	$1,229,246	$165,419
2022	$117,240	$145,530	$1,060,642	$-28,290
2021	$168,620	$114,456	$1,120,918	$54,164
2020	$129,508	$131,914	$1,055,252	$-2,406

FREMONT AREA ART ASSOCIATION INC