FREEPORT ARTS CENTER (EIN 510189249) - 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

1975

Legal Domicile

Principal Officer

JESSICA MODICA

Phone

8152359755

Tax Period

2024-09-01 to 2025-08-31

FREEPORT ARTS CENTER, founded in 1975, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.1M in total revenue in fiscal year 2024. The organization ran a surplus of $705K, a strong 66% operating margin.

Mission

THE FREEPORT ART MUSEUM CREATES EXPERIENCES THAT SPARK IMAGINATION AND ENGAGEMENT IN THE ARTS FOR ALL PEOPLE BY PRESENTING EXHIBITIONS AND CULTURAL EVENTS, ADVANCING ARTS EDUCATION, AND EXCELLING IN COLLECTION STEWARDSHIP.

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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 $937,603

Program Service Revenue $20,672

Investment Income $66,804

Other Revenue $40,691

TOTAL REVENUE $1,065,770

Expense Breakdown

Grants Paid $0

Salaries & Benefits $193,473

Fundraising Expenses $32,492

Program Expenses $240,498

Other Expenses $167,434

TOTAL EXPENSES $360,907

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,065,770	$1,082,372	0.0%
Expenses	$360,907	$353,316	+0.0%
Net Income	$704,863	$729,056	0.0%

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

100

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

$75,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JESSICA MODICA	EXECUTIVE DI	40.00	Officer	$75,000	$0	$75,000
MARK DUREIN	DIRECTOR	1.00	Director	$0	$0	$0
JOSH ELLIOTT	DIRECTOR	1.00	Director	$0	$0	$0
NANCY HEYEN	SECRETARY	1.00	Officer Director	$0	$0	$0
VANESSA HUGHES	PRESIDENT	1.00	Officer Director	$0	$0	$0
KAREN KLECKNER	TREASURER	1.00	Officer Director	$0	$0	$0
TIM MAHONEY	DIRECTOR	1.00	Director	$0	$0	$0
AARON MERCIER	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
JON PALMER	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW REETER	DIRECTOR	1.00	Director	$0	$0	$0
JOY SELLERS	DIRECTOR	1.00	Director	$0	$0	$0
SHANNON WENZEL	DIRECTOR	1.00	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
2025	$1,065,770	$360,907	$4,072,750	$704,863
2024	$1,082,372	$353,316	$3,309,255	$729,056
2023	$619,090	$366,182	$2,523,739	$252,908
2022	$373,733	$359,625	$2,364,879	$14,108
2021	$343,033	$220,130	$1,770,629	$122,903
2020	$281,275	$637,829	$1,549,553	$-356,554
2019	$274,972	$235,312	$1,873,182	$39,660
2018	$705,240	$211,405	$1,822,638	$493,835

FREEPORT ARTS CENTER