The Piedmont Arts Association

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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

1976

Legal Domicile

Principal Officer

Dru Ingram

Phone

2766323221

Tax Period

2024-07-01 to 2025-06-30

The Piedmont Arts Association, founded in 1976, is a small nonprofit that reported $599K in total revenue in fiscal year 2024. Net assets of $3.7M represent 74 months of operating reserves.

Mission

To provide experiences in the visual and performing arts

Program Service Accomplishments

Program 1

Expenses: $448,609 Revenue: $120,704

The Piedmont Arts Association is a nonprofit art museum and education outreach center, which is accredited by the American Alliance of Museums. The organization provides experiences in the visual and performing arts to enrich and enlighten the lives of the people of Martinsville, Henry County and neighboring areas. During the year Piedmont Arts Association brings exhibits from regional, national, and international artists; provides a series of on stage performances for children and adults; offers free resources and programming for local schools, including the Treasure Chest program, which provides teachers with resources and activities for classroom use; and offers its facility for private events.

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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 $398,850

Program Service Revenue $71,059

Investment Income $98,000

Other Revenue $30,698

TOTAL REVENUE $598,607

Expense Breakdown

Grants Paid $0

Salaries & Benefits $268,993

Fundraising Expenses $37,700

Program Expenses $448,609

Other Expenses $354,607

TOTAL EXPENSES $623,600

Year-over-Year Comparison

	2024	2023	Change
Revenue	$598,607	$629,914	0.0%
Expenses	$623,600	$576,964	+0.1%
Net Income	$-24,993	$52,950	-1.5%

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

$80,966

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Dr Shana LeGrant	Immed Past President	2.50	Officer	$0	$0	$0
Anne Smith	President	2.50	Officer Director	$0	$0	$0
Olivia Garrett	First Vice President	2.50	Officer Director	$0	$0	$0
Dru Ingram	Treasurer	2.50	Officer Director	$0	$0	$0
Tracie Heavner	Secretary	2.50	Officer Director	$0	$0	$0
Benjamin Gravely	Second Vice President	2.50	Officer Director	$0	$0	$0
Effie Cuenca	Director	1.00	Director	$0	$0	$0
Andy Hynes	Director	1.00	Director	$0	$0	$0
James Souter IV	Director	1.00	Director	$0	$0	$0
William Gravely	Director	1.00	Director	$0	$0	$0
Janet Lewis	Director	1.00	Director	$0	$0	$0
Heidi Pinkston	Executive Director	40.00	Key Emp Highest	$80,966	$0	$80,966
Lucy Coleman	Director	1.00	Director	$0	$0	$0
Charlie Knighton	Director	1.00	Director	$0	$0	$0
Beverly Lyle	Director	1.00	Director	$0	$0	$0
Tekela Redd	Director	1.00	Director	$0	$0	$0
Jason Spratley	Director	1.00	Director	$0	$0	$0
McKay Ullstein	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	$598,607	$623,600	$3,750,505	$-24,993
2024	$629,914	$576,964	$3,711,289	$52,950
2023	$834,512	$588,699	$3,541,222	$245,813
2022	$1,330,155	$591,473	$3,263,216	$738,682
2021	$848,605	$470,036	$2,972,213	$378,569
2020	$501,253	$489,121	$2,558,706	$12,132
2019	$501,365	$464,347	$2,551,529	$37,018