PROFESSIONAL ARTISTIC RESEARCH PRO… - Form 990 Financial Data

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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

2015

Legal Domicile

Principal Officer

Jonathan Sears

Phone

5133946564

Tax Period

2023-01-01 to 2023-12-31

PROFESSIONAL ARTISTIC RESEARCH PROJECTS, founded in 2015, is a small nonprofit in the Arts, Culture & Humanities sector that reported $381K in total revenue in fiscal year 2023. Revenue surged 66% from the prior year, signaling strong growth momentum. Expenses of $337K left a modest 12% surplus.

Mission

PAR-Projects' mission is to empower diverse communities of people who believe in the arts. As educators, we provide classes and workshops related to creative career paths. As working artists, we enjoy hosting thought-provoking exhibitions and collaborations with regional artists focused on making creatively compelling statements.

Program Service Accomplishments

Program 1

Expenses: $225,504 Revenue: $29,922

Arts and Exhibition Facilities: We create space for artists to collaborate and engage with community, while expanding their social and professional networks. This is accomplished via the creation of pop-up (temporary) galleries and the ongoing renovation & expansion of our creative campus, locate in Northside, Cincinnati. Within these spaces we exhibit artwork & creative statements, oftentimes absorbing the cost of travel, shipping, and installation to alleviate burdens often faced by mid-career artists.

Program 2

Expenses: $29,210 Revenue: $41,188

Collaborations & Community Engagement Programming: We create opportunities for collaborative projects to help support fellow nonprofits, working artists, and partnering businesses looking to give...

Collaborations & Community Engagement Programming: We create opportunities for collaborative projects to help support fellow nonprofits, working artists, and partnering businesses looking to give back to the community. These often present themselves as fine art exhibitions, pop-up (temporary) experiences, art markets, and shared experiences & festivals.

Program 3

Expenses: $76,396 Revenue: $181,500

Visiting Artist and Education Program: We create educational opportunities that benefit our communities, as well as artists of the region. As we are still recovering and adjusting from the COVID 19 lockdown, our primary expenses of this program were related to planning and equipment purchases.

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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 $345,660

Program Service Revenue $35,379

Investment Income $0

Other Revenue $0

TOTAL REVENUE $381,039

Expense Breakdown

Grants Paid $0

Salaries & Benefits $114,836

Fundraising Expenses $5,338

Program Expenses $331,110

Other Expenses $221,940

TOTAL EXPENSES $336,776

Year-over-Year Comparison

	2023	2022	Change
Revenue	$381,039	$230,109	+0.7%
Expenses	$336,776	$267,054	+0.3%
Net Income	$44,263	$-36,945	-2.2%

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

$42,000

Key Employees

$104,864

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jonathan Sears	Executive Director	40	Director Key Emp	$42,000	$0	$42,000
Gabrielle Roach	Arts & Programming Coordinator	30	Key Emp	$38,320	$0	$38,320
Alisha Budkie	Campaign & Development Manager	30	Key Emp	$24,000	$0	$24,000
Henry Lindeman	Design Intern	10	Key Emp	$544	$0	$544
Herbert Robinson	President of the board	5	Officer Director	$0	$0	$0
Rachel Schwartzman Murphy	Vice President of the board	2	Director Key Emp	$0	$0	$0
Philip Stowers	Secretary of the board	2	Officer Director	$0	$0	$0
Ian Silander	Treasurer of the board	2	Officer Director	$0	$0	$0
Vanessa Riley Thurman	Director	2	Director	$0	$0	$0
Michael Keifling	Director	2	Director	$0	$0	$0
Rick Wolf	Director	2	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	No data	No data	No data	No data
2023	$381,039	$336,776	$1,748,669	$44,263
2022	$230,109	$267,054	$1,756,724	$-36,945
2021	$221,717	$204,553	$1,793,251	$17,164

PROFESSIONAL ARTISTIC RESEARCH PROJECTS