MARYLAND FEDERATION OF ART INC

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1963

Legal Domicile

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.

Program Service Accomplishments

Program 1

Expenses: $172,116 Revenue: $129,567

MFA hosts 39 exhibitions annually; 13 art exhibitions are staged in Circle Gallery at 18 State Circle in Annapolis, MD. There are 20 exhibitions at other locations and 6 exhibitions online. All...

MFA hosts 39 exhibitions annually; 13 art exhibitions are staged in Circle Gallery at 18 State Circle in Annapolis, MD. There are 20 exhibitions at other locations and 6 exhibitions online. All exhibitions are free and open to the public. Total audience is 40,000.

Program 2

Expenses: $176,560 Revenue: $105,123

MFA hosts and presents Paint Annapolis, a week-long plein-air competition hosting 30 professional juried artists from North America and Great Britain, and 70+ artists from the region, with events...

MFA hosts and presents Paint Annapolis, a week-long plein-air competition hosting 30 professional juried artists from North America and Great Britain, and 70+ artists from the region, with events throughout the week, giving $16,000 in awards to juried artists and $3,000 in awards to public artists. Events are free and open to the public. Total audience is 10,000.

Program 3

Expenses: $2,892 Revenue: $0

Art Education and Appreciation: a series of YouTube videos including Wil Talk With Artists, a series of discussions between MFA artists and art historian Dr. Wilford Scott, and a series of juror...

Art Education and Appreciation: a series of YouTube videos including Wil Talk With Artists, a series of discussions between MFA artists and art historian Dr. Wilford Scott, and a series of juror critiques via ZOOM for all MFA juried exhibitions.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$75,600

Total Directors

Key Employees

Highest Compensated

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