SECAC

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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

1942

Legal Domicile

Principal Officer

Sunny Spillane

Tax Period

2023-01-01 to 2023-12-31

SECAC, founded in 1942, is a small nonprofit that reported $220K in total revenue in fiscal year 2023. Expenses of $276K exceeded revenue, resulting in a 25% operating deficit.

Mission

To promote the visual arts in higher education

Program Service Accomplishments

Program 1

Expenses: $210,344 Revenue: $126,673

Annual Conference. Provides venue for scholarship, governance, and education.

Program 2

Expenses: $24,012

Grants (Artists Fellowship, established 1981, and Levin Award, established 2014) for the purposes of supporting member artists and art historians, and to encourage individual creative growth, the...

Grants (Artists Fellowship, established 1981, and Levin Award, established 2014) for the purposes of supporting member artists and art historians, and to encourage individual creative growth, the development of new ideas for exhibitions, publications, and creative projects. Through this program SECAC can more completely serve member artists, art historians, and institutions. Bosch Endowment grants were provided to 19 student presenters and chairs. EDI Award grants were provided to 5 individuals to increase diversity of conference presenters and participants.

Program 3

Expenses: $17,602 Revenue: $3,749

Publishing the organizations journal and member newsletter.

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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 $52,703

Program Service Revenue $130,422

Investment Income $36,711

Other Revenue $0

TOTAL REVENUE $219,836

Expense Breakdown

Grants Paid $24,012

Salaries & Benefits $56,450

Fundraising Expenses $0

Program Expenses $251,958

Other Expenses $195,193

TOTAL EXPENSES $275,655

Year-over-Year Comparison

	2023	2022	Change
Revenue	$219,836	$222,406	0.0%
Expenses	$275,655	$205,082	+0.3%
Net Income	$-55,819	$17,324	-4.2%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Wanda Sullivan	Artists Fellowship Chair	1.00	Director	$0	$0	$0
Sarah Archino	Levin Award Committee Chair	1.00	Director	$0	$0	$0
Nikhil Ghodke	Mentoring Coordinator	1.00	Director	$0	$0	$0
Lawrence Jenkens	Past President	1.00	Director	$0	$0	$0
Earnestine Jenkins	Director	1.00	Director	$0	$0	$0
Jessica Colon	Director	1.00	Director	$0	$0	$0
Tracy Stonestreet	Conference Director	1.00	Director	$0	$0	$0
Miriam Kienle	Director	1.00	Director	$0	$0	$0
Kofi Opoku	Director	1.00	Director	$0	$0	$0
Claire Kovacs	Director	1.00	Director	$0	$0	$0
Paul Catanese	Director	1.00	Director	$0	$0	$0
Tony Bingham	Director	1.00	Director	$0	$0	$0
Michael May	Director	1.00	Director	$0	$0	$0
Jeff Schwartz	Director	1.00	Director	$0	$0	$0
Ann Ford	Director	1.00	Director	$0	$0	$0
Kevin Cates	Director	1.00	Director	$0	$0	$0
Ashley Busby	Director	1.00	Director	$0	$0	$0
Jennifer Courts	Director	1.00	Director	$0	$0	$0
Roja Najafi	Director	1.00	Director	$0	$0	$0
Kathryn D Shields	Director	1.00	Director	$0	$0	$0
Susan Richmond	Director	1.00	Director	$0	$0	$0
Mysoon Rizk	Art Inquiries Editor	1.00	Officer	$0	$0	$0
Carly Phinizy	President	5.00	Officer	$0	$0	$0
Al Denyer	1st Vice President	1.00	Officer	$0	$0	$0
Michael Borowski	2nd Vice-President	1.00	Officer	$0	$0	$0
Sunny Spillane	Treasurer	1.00	Officer	$0	$0	$0
Rachel Stephens	Secretary	1.00	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	No data	No data	No data	No data
2023	$219,836	$275,655	$617,646	$-55,819
2022	$222,406	$205,082	$636,189	$17,324
2021	$131,328	$101,119	$736,793	$30,209
2020	$133,865	$163,410	$668,983	$-29,545
2019	$229,938	$188,851	$665,232	$41,087
2018	$337,619	$205,895	$563,408	$131,724