PENINSULA FINE ARTS CENTER 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

1962

Legal Domicile

Principal Officer

SUE IVY

Phone

2053100702

Tax Period

2019-07-01 to 2020-06-30

PENINSULA FINE ARTS CENTER INC, founded in 1962, is a small nonprofit that reported $517K in total revenue in fiscal year 2019. Revenue decreased 17% compared to the prior year.

Mission

THE MISSION OF THE PENINSULA FINE ARTS CENTER IS TO PROVIDE THE VIRGINIA PENINSULA AND SURROUNDING COMMUNITIES A BALANCED AND STIMULATING PROGRAM OF VISUAL ARTS, DYNAMIC EXHIBITIONS AND EDUCATIONAL PROGRAMS THAT APPEAL TO BOTH CHILDREN AND ADULTS, AND TO SERVE AS A PROPONENT OF THE VISUAL ARTS COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $358,430 Revenue: $6,556

WE FEATURE DIFFERENT ART EXHIBITIONS EACH YEAR INCLUDING WORK OF LOCAL, REGIONAL, NATIONAL, AND INTERNATIONAL INTEREST; CONTEMPORARY AND HISTORICAL WORKS; JURIED EXHIBITIONS AND STUDENT SHOWS IN OUR...

Program 2

Expenses: $68,504 Revenue: $94,002

WE CREATE ART EVERY DAY IN OUR STUDIO ART SCHOOL THAT OFFERS OVER 110 CLASSES AND WORKSHOPS THAT ARE TAUGHT EACH YEAR. OUR STUDIO ART SCHOOL SERVES OVER 1,000 ADULTS AND CHILDREN ANNUALLY; CLASSES...

WE CREATE ART EVERY DAY IN OUR STUDIO ART SCHOOL THAT OFFERS OVER 110 CLASSES AND WORKSHOPS THAT ARE TAUGHT EACH YEAR. OUR STUDIO ART SCHOOL SERVES OVER 1,000 ADULTS AND CHILDREN ANNUALLY; CLASSES INCLUDE THE TRADITIONAL ARTS SUCH AS PAINTING, PHOTOGRAPHY, PRINTMAKING, DRAWING, AND CERAMICS/POTTERY, AS WELL AS EXHIBIT SPECIFIC CLASSES AND WORKSHOPS. THE CLASSES ARE DESIGNED TO ACCOMMODATE A MULTITUDE OF SKILL LEVELS. WE ALSO HAVE ART THERAPY PROGRAMS FOR VETERANS AND ADULTS WITH EARLY ON-STAGE DEMENTIA AND ALZEHEIMER'S.EDUCATION PROGRAMS INCLUDE DOCENT-LED TOURS, SOL-ALIGNED DISTANCE LEARNING FOR TEACHERS AND STUDENTS, AFTER-SCHOOL PROGRAMS, SCHOOL BREAK AND SUMMER CAMPS, PRESCHOOL PROGRAMS, AND A PERMANENT HANDS ON FOR KIDS GALLERY.

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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 (2019)

Revenue Breakdown

Contributions & Grants $408,070

Program Service Revenue $101,163

Investment Income $2,793

Other Revenue $4,801

TOTAL REVENUE $516,827

Expense Breakdown

Grants Paid $0

Salaries & Benefits $239,894

Fundraising Expenses $39,520

Program Expenses $426,934

Other Expenses $298,773

TOTAL EXPENSES $538,667

Year-over-Year Comparison

	2019	2018	Change
Revenue	$516,827	$625,410	-0.2%
Expenses	$538,667	$591,914	-0.1%
Net Income	$-21,840	$33,496	-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

Employees

Volunteers

100

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

$96,005

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARI ANN BANKS	CHAIR	0.50	Officer Director	$0	$0	$0
SUE IVY	TREASURER/SECRETARY	0.50	Officer Director	$0	$0	$0
DR JACQUELINE BONTEMPS	PROGRAM CHAIR	0.50	Officer Director	$0	$0	$0
CYNTHIA ROHLF	TRUSTEE	0.50	Director	$0	$0	$0
WILLIAM CARR	IMMEDIATE PAST CHAIR	0.50	Director	$0	$0	$0
DR MICHELLE A ERHARDT	TRUSTEE	0.50	Director	$0	$0	$0
TRISH MELOCHICK	TRUSTEE	0.50	Director	$0	$0	$0
TAMMY JORDAN	TRUSTEE	0.50	Director	$0	$0	$0
KRISTEN SKEES	TRUSTEE	0.50	Director	$0	$0	$0
MICHAEL GLOVER	TRUSTEE	0.50	Director	$0	$0	$0
LINDSEY CARNEY	TRUSTEE	0.50	Director	$0	$0	$0
CHERL BROWNE	TRUSTEE	0.50	Director	$0	$0	$0
ALYSON HEIDENTHAL	ADVANCEMENT VICE CHAIR	0.50	Officer Director	$0	$0	$0
FLORA D CHIOROS	TRUSTEE	0.50	Director	$0	$0	$0
COURTNEY GARDNER	EXECUTIVE DIRECTOR	35.00	Director	$96,005	$0	$96,005

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
2020	$516,827	$538,667	$715,096	$-21,840
2020	$248,078	$498,947	No data	$-250,869
2019	$625,410	$591,914	$714,409	$33,496
2018	$615,287	$622,531	$665,062	$-7,244