THOMAS EDISON MEDIA ARTS CONSORTIUM

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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

1987

Legal Domicile

Principal Officer

STEVE GORELICK

Phone

2012002043

Tax Period

2023-07-01 to 2024-06-30

THOMAS EDISON MEDIA ARTS CONSORTIUM, founded in 1987, is a small nonprofit in the Arts, Culture & Humanities sector that reported $120K in total revenue in fiscal year 2023. Expenses of $136K exceeded revenue, resulting in a 14% operating deficit.

Mission

THE ORGANIZATION WAS INCORPORATED TO PROMOTE, ILLUMINATE AND ADVOCATE INNOVATION IN THE ART OF MOVING IMAGE.

Program Service Accomplishments

Program 1

Expenses: $124,218 Revenue: $31,793

IN 2023, THE CONSORTIUM EXHIBITED FILM AND VIDEO CREATED BY 115 INDEPENDENT FILMMAKERS THROUGH THE THOMAS EDISON FILM FESTIVAL (TEFF) TOUR BOTH IN- PERSON AND VIRTUALLY. 33 STUDENT FILMMAKERS HAD...

IN 2023, THE CONSORTIUM EXHIBITED FILM AND VIDEO CREATED BY 115 INDEPENDENT FILMMAKERS THROUGH THE THOMAS EDISON FILM FESTIVAL (TEFF) TOUR BOTH IN- PERSON AND VIRTUALLY. 33 STUDENT FILMMAKERS HAD THEIR WORK EXHIBITED VIRTUALLY ON THE THOMAS EDISON VIRTUAL FILM FESTIVAL WEBSITE AND AT AN IN- PERSON PREMIERE AT THE THOMAS EDISON NATIONAL HISTORICAL PARK IN WEST ORANGE, NJ. THERE WERE IN-PERSON TEFF SCREENINGS - AT PRINCETON UNIVERSITY; NATIONAL GALLERY OF ART, DC: POCONO ARTS CENTER, PA; UNIVERSITY OF DELAWARE, RAMAPO COLLEGE OF NJ, THE 1ST UNIVERSALIST UNITARIAN CHURCH - THE HUUB, ORANGE, NJ; MULTIPLE PROGRAMS AT THE HOBOKEN MUSEUM; JERSEY CITY THEATER CENTER; CRANDALL LIBRARY, GLENS FALLS; SYRACUSE UNIVERSITY; UNIVERSITY OF COLORADO BOULDER; AND MORE IN-PERSON SCREENINGS ARE PLANNED THROUGH THE END OF 2023 AT THE SECAUCUS LIBRARY; AT GLIMMERGLASS FILM DAYS IN COOPERSTOWN; AND AT MORRIS FIRST NIGHT IN MORRISTOWN, NJ. THERE WERE DOZENS OF TEFF SCREENINGS PRESENTED VIRTUALLY, ALL OF WHICH WERE LONG- RUNNING PROGRAMS THAT ARE STREAMED VIRTUALLY THROUGHOUT THE 2023 SEASON. ORGANIZATIONS HOSTING EVENTS INCLUDE LIBRARIES, MUSEUMS, COLLEGES/UNIVERSITIES, ART GALLERIES, FAITH-BASED AND ARTS ORGANIZATIONS.

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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 $87,780

Program Service Revenue $31,793

Investment Income $0

Other Revenue $0

TOTAL REVENUE $119,573

Expense Breakdown

Grants Paid $0

Salaries & Benefits $79,963

Fundraising Expenses $0

Program Expenses $125,464

Other Expenses $55,999

TOTAL EXPENSES $135,962

Year-over-Year Comparison

	2023	2022	Change
Revenue	$119,573	$114,748	+0.0%
Expenses	$135,962	$109,778	+0.2%
Net Income	$-16,389	$4,970	-4.3%

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

N/A

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

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HENRY BAKER	ADVISORY BOA	0.50	Director	$0	$0	$0
DAVID DENENBERG	TRUSTEE	0.50	Director	$0	$0	$0
BORIS GAVRILOVIC	ADVISORY BOA	0.50	Director	$0	$0	$0
CLAYTON HEMMERT	TRUSTEE	0.50	Director	$0	$0	$0
JOEL KATZ	ADVISORY BOA	0.50	Director	$0	$0	$0
LOUIS LIBITZ	ADVISORY BOA	0.50	Director	$0	$0	$0
THERESA LOONG	TRUSTEE	0.50	Director	$0	$0	$0
CAROLYN MACCHIA	ADVISORY BOA	0.50	Director	$0	$0	$0
DIANE MOSS	TRUSTEE	0.50	Director	$0	$0	$0
ROLANDO NIEVES	ADVISORY BOA	0.50	Director	$0	$0	$0
MARGARET PARSONS	ADVISORY BOA	0.50	Director	$0	$0	$0
NICOLE POMETTI	ADVISORY BOA	0.50	Director	$0	$0	$0
STEPHANIE ROBERTS	ADVISORY BOA	0.50	Director	$0	$0	$0
LEAH SATLIN	TRUSTEE	0.50	Director	$0	$0	$0
DON JAY SMITH	TRUSTEE	0.50	Director	$0	$0	$0
DR JOANNE BRUNO	TREASURER	2.00	Officer	$0	$0	$0
JONATHAN COLE	SECRETARY	2.00	Officer	$0	$0	$0
STEVE GORELICK	PRESIDENT	2.00	Officer	$0	$0	$0
MATT SAVARE	VICE PRESIDE	2.00	Officer	$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	No data	No data	No data	No data
2024	$119,573	$135,962	$44,412	$-16,389
2023	$114,748	$109,778	$63,848	$4,970
2022	$123,348	$111,801	$56,432	$11,547
2021	$87,692	$77,704	$45,399	$9,988
2020	$71,117	$63,848	$32,128	$7,269
2019	$74,336	$65,249	$25,723	$9,087