STUDIO GALLERY ASSOCIATION INC

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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

1955

Legal Domicile

Principal Officer

Pamela Frederick

Phone

2022328734

Tax Period

2023-09-01 to 2024-08-31

STUDIO GALLERY ASSOCIATION INC, founded in 1955, is a small nonprofit in the Arts, Culture & Humanities sector that reported $175K in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year.

Mission

ARTIST-OWNED STUDIO GALLERY SHOWCASES CONTEMPORARY WORK BY EMERGING AND PROFESSIONAL ARTISTS THROUGH MONTHLY EXHIBITIIONS, PERFORMANCES AND EDUCATIONAL OUTREACH

Program Service Accomplishments

Program 1

Expenses: $151,502 Revenue: $62,380

SHOWCASE WORK BY EMERGING AND PROFESSIONAL ARTISTS THROUGH EXHIBITIONS PERFORMANCE AND EDUCATIONAL OUTREACH TO THE COMMUNITY.

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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 $107,500

Program Service Revenue $62,380

Investment Income $3,291

Other Revenue $1,500

TOTAL REVENUE $174,671

Expense Breakdown

Grants Paid $0

Salaries & Benefits $38,034

Fundraising Expenses $0

Program Expenses $151,502

Other Expenses $148,957

TOTAL EXPENSES $186,991

Year-over-Year Comparison

	2023	2022	Change
Revenue	$174,671	$194,885	-0.1%
Expenses	$186,991	$178,096	+0.0%
Net Income	$-12,320	$16,789	-1.7%

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

N/A

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

$33,666

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
VERONICA SZALUS	CO CHAIR	2.00	Officer	$0	$0	$0
PAMELA FREDERICK	CO CHAIR	2.00	Officer	$0	$0	$0
GORDON BINDER	TREASURER	4.00	Officer	$0	$0	$0
JOANN LEVINE	SECRETARY	2.00	Officer	$0	$0	$0
HALLEY STUBIS	EXECUTIVE DIRECTOR	23.00	Key Emp	$33,666	$0	$33,666

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	No data	No data	No data	No data
2024	$174,671	$186,991	$121,482	$-12,320
2023	$194,885	$178,096	$131,859	$16,789
2022	$262,774	$181,893	$109,578	$80,881
2021	$163,368	$180,892	$36,090	$-17,524
2020	$157,459	$149,621	$43,754	$7,838
2019	$190,344	$179,859	$27,996	$10,485
2018	$191,180	$191,002	$16,530	$178