WILKES ART GALLERY 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

REVIS FELTS

Phone

3366672841

Tax Period

2024-07-01 to 2025-06-30

WILKES ART GALLERY INC, founded in 1962, is a small nonprofit in the Arts, Culture & Humanities sector that reported $347K in total revenue in fiscal year 2024. Expenses of $441K exceeded revenue, resulting in a 27% operating deficit.

Mission

THE WILKES ART GALLERY PROVIDES ART EXHIBITS FROM A VARIETY OF ARTISTIC MEDIA. THEY ALSO ORGANIZE ART EDUCATION CLASSES AND PROGRAMS FOR STUDENTS AND ADULTS OF WILKES COUNTY, NC AND SURROUNDING AREAS.

Program Service Accomplishments

Program 1

Expenses: $371,440 Revenue: $208,716

THE WILKES ART GALLERY PROVIDES ART EXHIBITS FROM A VARIETY OF ARTISTIC MEDIA.THEY ALSO ORGANIZE ART EDUCATION CLASSES AND PROGRAMS FOR STUDENTS AND ADULTS OF WILKES COUNTY, NC AND SURROUNDING AREAS.

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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 $137,988

Program Service Revenue $208,716

Investment Income $0

Other Revenue $450

TOTAL REVENUE $347,154

Expense Breakdown

Grants Paid $48,474

Salaries & Benefits $126,830

Fundraising Expenses $3,184

Program Expenses $371,440

Other Expenses $265,428

TOTAL EXPENSES $440,732

Year-over-Year Comparison

	2024	2023	Change
Revenue	$347,154	$351,723	0.0%
Expenses	$440,732	$423,653	+0.0%
Net Income	$-93,578	$-71,930	+0.3%

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

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

$70,871

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JIM TRICE	PRESIDENT	0.00	Officer Director	$0	$0	$0
CHUCK FORESTER	VICE PRESIDENT	0.00	Officer Director	$0	$0	$0
JOE RICHARDSON	TREASURER	0.00	Officer Director	$0	$0	$0
BEVERLY STORY	SECRETARY	0.00	Officer Director	$0	$0	$0
REVIS FELTS	DIRECTOR	0.00	Director	$0	$0	$0
LENA LOVETTE	DIRECTOR	0.00	Director	$0	$0	$0
ANNA PYKE	DIRECTOR	0.00	Director	$0	$0	$0
MARIA FERNANDA ALBANIL	DIRECTOR	0.00	Director	$0	$0	$0
BILL LIPSCOMB	DIRECTOR	0.00	Director	$0	$0	$0
ANGIE ANDERSON	DIRECTOR	0.00	Director	$0	$0	$0
GRETA FERGUSON	DIRECTOR	0.00	Director	$0	$0	$0
ADINA WATKINS	DIRECTOR	0.00	Director	$0	$0	$0
NANCY WATSON	DIRECTOR	0.00	Director	$0	$0	$0
BROOKE HORN	EXECUTIVE DIRECTOR	40.00	Officer	$70,871	$0	$70,871

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	$347,154	$440,732	$300,859	$-93,578
2024	$351,723	$423,653	$378,993	$-71,930
2023	$263,125	$380,986	$452,682	$-117,861
2022	$441,259	$395,287	$569,736	$45,972
2021	$359,844	$276,896	$542,997	$82,948
2020	$184,132	$266,222	$462,790	$-82,090
2019	$390,905	$392,549	$521,532	$-1,644