Penland School Of Craft (EIN 560623948) - Form 990 Financial Analysis & Trantor Score

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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

1929

Legal Domicile

Phone

8287652359

Tax Period

2024-05-01 to 2025-04-30

Penland School Of Craft, founded in 1929, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $10.7M in total revenue in fiscal year 2024. Revenue surged 23% from the prior year, signaling strong growth momentum. Net assets of $78.0M represent 88 months of operating reserves.

Mission

THE MISSION OF PENLAND SCHOOL OF CRAFT IS TO MAKE LIVES MEANINGFUL THROUGH MAKING.

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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 (2024)

Revenue Breakdown

Contributions & Grants $4,879,434

Program Service Revenue $3,096,488

Investment Income $1,680,655

Other Revenue $1,042,482

TOTAL REVENUE $10,699,059

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,893,365

Fundraising Expenses $611,386

Program Expenses $7,619,822

Other Expenses $5,904,013

TOTAL EXPENSES $10,797,378

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,699,059	$8,729,942	+0.2%
Expenses	$10,797,378	$9,804,833	+0.1%
Net Income	$-98,319	$-1,074,891	-0.9%

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

143

Volunteers

220

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

$346,165

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRED SANDERS	PAST-CHAIR	15.0	Officer Director	$0	$0	$0
LILLIAN GIORNELLI	CHAIR	15.0	Officer Director	$0	$0	$0
MERRILY ORSINI	TREASURER	15.0	Officer Director	$0	$0	$0
VINCE WATCHORN	VICE CHAIR	15.0	Officer Director	$0	$0	$0
VIRGINIA KRAUS	SECRETARY	15.0	Officer Director	$0	$0	$0
ABRAHAM THOMAS	Board Member	2.0	Director	$0	$0	$0
ALTHEA MURPHY-PRICE	Board Member	2.0	Director	$0	$0	$0
BRENDA WHEELER	Board Member	2.0	Director	$0	$0	$0
CATHY ABBOTT	Board Member	2.0	Director	$0	$0	$0
CATHY ADELMAN	Board Member	2.0	Director	$0	$0	$0
CHE RHODES	Board Member	2.0	Director	$0	$0	$0
COREY PEMBERTON	Board Member	2.0	Director	$0	$0	$0
DAIL DIXON	Board Member	2.0	Director	$0	$0	$0
DIANE CHARNOV	Board Member	2.0	Director	$0	$0	$0
DOUG QUACKENBUSH	Board Member	2.0	Director	$0	$0	$0
E VINCENT MARTINEZ	Board Member	2.0	Director	$0	$0	$0
EDWARD BRESLER	Board Member	2.0	Director	$0	$0	$0
ILASAHAI PROUTY	Board Member	2.0	Director	$0	$0	$0
JACKIE JONES	Board Member	2.0	Director	$0	$0	$0
JAMES HACKNEY	Board Member	2.0	Director	$0	$0	$0
JULIA WILSON	Board Member	2.0	Director	$0	$0	$0
KATHARINE DESHAW	Board Member	2.0	Director	$0	$0	$0
LOIS RUSSELL	Board Member	2.0	Director	$0	$0	$0
MATTHEW PRICE	Board Member	2.0	Director	$0	$0	$0
MERCEDES JELINEK	Board Member	2.0	Director	$0	$0	$0
NANCY BURLESON	Board Member	2.0	Director	$0	$0	$0
ONAY CRUZ GUTIERREZ	Board Member	2.0	Director	$0	$0	$0
PHILIP PAYNE	Board Member	2.0	Director	$0	$0	$0
RUSSELL SIZEMORE	Board Member	2.0	Director	$0	$0	$0
SARA MCDONNELL	Board Member	2.0	Director	$0	$0	$0
WEI SUN	Board Member	2.0	Director	$0	$0	$0
WENDY MARUYAMA	Board Member	2.0	Director	$0	$0	$0
BETH SHUPE	Director of Finance	40.0	Officer	$123,507	$0	$123,507
Maria Hall	Executive Director	60.0	Officer	$200,158	$22,500	$222,658
LESLIE NOELL	Creative Director	40.0	Highest	$121,262	$0	$121,262
MATTHEW MOORE	Director of Facilities and Grounds	40.0	Highest	$102,361	$0	$102,361

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	$10,699,059	$10,797,378	$81,567,394	$-98,319
2024	$8,729,942	$9,804,833	$79,732,984	$-1,074,891
2023	$8,885,123	$8,959,637	$77,304,858	$-74,514
2022	$8,195,417	$7,834,332	$77,347,904	$361,085
2021	$7,363,613	$6,484,459	$83,487,415	$879,154
2020	$6,950,819	$7,388,138	$69,671,138	$-437,319

Penland School Of Craft