MARYLAND FEDERATION OF ART INC

EIN: 520895806 501(c)(3)

ANNAPOLIS, MD

Total Revenue
$497,798
Total Expenses
$465,296
Total Assets
$344,621
Net Assets
$308,027
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1963
Legal Domicile
MD
Principal Officer
PATRICE DRAGO
Phone
4102684566
Tax Period
2024-07-01 to 2025-06-30

MARYLAND FEDERATION OF ART INC, founded in 1963, is a small nonprofit that reported $498K in total revenue in fiscal year 2024. Revenue surged 38% from the prior year, signaling strong growth momentum. Expenses of $465K left a modest 7% surplus.

Mission

MARYLAND FEDERATION OF ART INC IS A NONPROFIT ARTS ORGANIZATION WHOSE MISSION IS TO CREATE MEANINGFUL CONNECTIONS IN THE COMMUNITY THROUGH ART. ITS PURPOSE IS EXCLUSIVELY EDUCATIONAL AND CHARITABLE.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $233,523
Program Service Revenue $234,690
Investment Income $16,990
Other Revenue $12,595
TOTAL REVENUE $497,798

Expense Breakdown

Grants Paid $1,750
Salaries & Benefits $220,291
Fundraising Expenses $23,483
Program Expenses $351,568
Other Expenses $243,255
TOTAL EXPENSES $465,296

Year-over-Year Comparison

2024 2023 Change
Revenue $497,798 $360,930 +0.4%
Expenses $465,296 $332,646 +0.4%
Net Income $32,502 $28,284 +0.1%
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

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Liquidity & Cash Position

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Governance

Voting Members
15
Independent Members
15
Employees
9
Volunteers
64

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
7
$75,600
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PATRICE DRAGO EXECUTIVE DIRECTOR 40.00
Officer
$69,900 $5,700 $75,600
KAREN RICKETTS PRESIDENT 10.00
Officer Director
$0 $0 $0
CRAIG FRIEDRICH DEVELOPMENT VICE PRESIDENT 5.00
Officer Director
$0 $0 $0
HOPE STEWART OPERATIONS VICE PRESIDENT 5.00
Officer Director
$0 $0 $0
STEPHANIE SAMS TREASURER 5.00
Officer Director
$0 $0 $0
EMIL PETRUNCIO PR & PROGRAMMING VICE PRESIDENT 5.00
Officer Director
$0 $0 $0
CRAIG NEWCOMB SECRETARY 5.00
Officer Director
$0 $0 $0
SARAH JANE DUNAWAY BOARD MEMBER 5.00
Director
$0 $0 $0
MICHELLE FAUNTLEROY BOARD MEMBER 5.00
Director
$0 $0 $0
JACOB GOLDSMITH BOARD MEMBER 5.00
Director
$0 $0 $0
JOANNE GRAHAM BOARD MEMBER 5.00
Director
$0 $0 $0
RICH ISAACMAN BOARD MEMBER 5.00
Director
$0 $0 $0
ERICA KRIEGER BOARD MEMBER 5.00
Director
$0 $0 $0
WIL SCOTT BOARD MEMBER 5.00
Director
$0 $0 $0
MARTHA SPENCER BOARD MEMBER 5.00
Director
$0 $0 $0
MICHELE WARD BOARD MEMBER 5.00
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 $497,798 $465,296 $344,621 $32,502
2024 $360,930 $332,646 $320,452 $28,284
2023 $394,037 $314,578 $257,274 $79,459
2022 $431,452 $393,512 $168,380 $37,940
2021 $452,449 $383,423 $255,660 $69,026
2020 $263,070 $291,808 $78,968 $-28,738
2019 $256,955 $236,376 $56,235 $20,579
2018 $242,492 $254,992 $38,755 $-12,500
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