PORT TOWNSEND SCHOOL OF THE ARTS DBA NORTHWIND ART (EIN 473067617) - 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

2015

Legal Domicile

Principal Officer

LYNN MARLOW

Phone

3603444479

Tax Period

2023-01-01 to 2023-12-31

PORT TOWNSEND SCHOOL OF THE ARTS DBA NORTHWIND ART, founded in 2015, is a small nonprofit in the Arts, Culture & Humanities sector that reported $578K in total revenue in fiscal year 2023. Revenue fell 29% from the prior year — a significant decline worth monitoring. Expenses of $1.0M exceeded revenue, resulting in a 79% operating deficit.

Mission

NORTHWIND ART OFFERS PEOPLE OF ALL AGES AND SKILL LEVELS OPPORTUNITIES TO LEARN COLLABORATIVELY WITH ARTISTS OF EXCEPTIONAL TALENT, ENTHUSIASM, AND VISION THROUGH CLASSES, WORKSHOPS, OTHER PROGRAMS, AND THROUGH EXPERIENCING QUALITY EXHIBITIONS.

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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 $122,316

Program Service Revenue $375,950

Investment Income $286

Other Revenue $78,971

TOTAL REVENUE $577,523

Expense Breakdown

Grants Paid $0

Salaries & Benefits $549,413

Fundraising Expenses $53,750

Program Expenses $621,225

Other Expenses $480,502

TOTAL EXPENSES $1,033,665

Year-over-Year Comparison

	2023	2022	Change
Revenue	$577,523	$816,468	-0.3%
Expenses	$1,033,665	$891,547	+0.2%
Net Income	$-456,142	$-75,079	+5.1%

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

$2,958

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TERESA VERRAES	EXECUTIVE DIRECTOR	30.00		$91,835	$0	$91,835
MARTHA WORTHLEY	Executive Dir.	20.00	Director	$2,958	$0	$2,958
MELODY WEAVER	Director	2.00	Director	$0	$0	$0
MICAH WALLACE	Director	2.00	Director	$0	$0	$0
LORRAINE VAGNER	TREASURER/VP	4.00	Officer Director	$0	$0	$0
LYNN MARLOW	Director	3.00	Director	$0	$0	$0
PATRICIA WEBBER	Secretary	2.00	Officer Director	$0	$0	$0
TRACY GRISMAN	Director	3.00	Director	$0	$0	$0
LINDA ROSENBURY	President	5.00	Officer Director	$0	$0	$0
DAVID ENGLE	Director	2.00	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
2024	No data	No data	No data	No data
2023	$577,523	$1,033,665	$578,467	$-456,142
2022	$816,468	$891,547	$1,004,139	$-75,079
2021	$1,050,284	$838,480	$1,199,929	$211,804
2020	$681,615	$400,814	$505,985	$280,801
2019	$540,813	$404,205	$212,501	$136,608
2018	$262,748	$262,581	$73,949	$167

PORT TOWNSEND SCHOOL OF THE ARTS DBA NORTHWIND ART