SOUTH ARTS INC (EIN 561129587) - 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

1975

Legal Domicile

Principal Officer

SUZETTE SURKAMER

Phone

4048747244

Tax Period

2022-07-01 to 2023-06-30

SOUTH ARTS INC, founded in 1975, is a community nonprofit that reported $9.4M in total revenue in fiscal year 2022. Revenue fell 41% from the prior year — a significant decline worth monitoring. Expenses of $8.7M left a modest 7% surplus.

Mission

FOR COMPLETE DESCRIPTION.SOUTH ARTS, INC., A NONPROFIT REGIONAL ARTS ORGANIZATION, WAS FOUNDED IN 1975 TO BUILD ON THE SOUTH'S UNIQUE HERITAGE AND ENHANCE THE PUBLIC VALUE OF THE ARTS. SOUTH ARTS' WORK RESPONDS TO THE ARTS ENVIRONMENT AND CULTURAL TRENDS WITH A REGIONAL PERSPECTIVE; OFFERS AN ANNUAL PORTFOLIO OF ACTIVITIES DESIGNED TO ADDRESS THE ROLE OF THE ARTS IN IMPACTING THE ISSUES IMPORTANT TO OUR REGION; LINKS THE SOUTH WITH THE NATION AND THE WORLD THROUGH THE ARTS. THE ORGANIZATION WORKS IN PARTNERSHIP WITH THE STATE ART AGENCIES OF ALABAMA, FLORIDA, GEORGIA, KENTUCKY, LOUISIANA, MISSISSIPPI, NORTH CAROLINA, SOUTH CAROLINA, AND TENNESSEE. IT IS FUNDED BY THE NATIONAL ENDOWMENT FOR THE ARTS, MEMBER STATES, FOUNDATIONS, BUSINESSES AND INDIVIDUALS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $9,004,701

Program Service Revenue $131,811

Investment Income $209,368

Other Revenue $54,737

TOTAL REVENUE $9,400,617

Expense Breakdown

Grants Paid $4,595,696

Salaries & Benefits $2,252,618

Fundraising Expenses $312,820

Program Expenses $6,736,567

Other Expenses $1,894,800

TOTAL EXPENSES $8,743,114

Year-over-Year Comparison

	2022	2021	Change
Revenue	$9,400,617	$15,914,685	-0.4%
Expenses	$8,743,114	$8,140,904	+0.1%
Net Income	$657,503	$7,773,781	-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

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

$390,650

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NEIL BARCLAY	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
CATHY ADAMS	VICE CHAIR	1.00	Officer Director	$0	$0	$0
WILLIAM MCKINNEY	SECRETARY	1.00	Officer Director	$0	$0	$0
ELLIOTT KNIGHT	TREASURER	1.00	Officer Director	$0	$0	$0
ALEJANDRO AGUIRRE	DIRECTOR	1.00	Director	$0	$0	$0
JEFF BELL	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER CATHERS	DIRECTOR	1.00	Director	$0	$0	$0
NATALIE CHANIN	DIRECTOR	1.00	Director	$0	$0	$0
ELMORE DEMOTT	DIRECTOR	1.00	Director	$0	$0	$0
JOHN T EDGE	DIRECTOR	1.00	Director	$0	$0	$0
OLGA GARAY-ENGLISH	DIRECTOR	1.00	Director	$0	$0	$0
SONYA HALPERN	DIRECTOR	1.00	Director	$0	$0	$0
ANNE B POPE	DIRECTOR	1.00	Director	$0	$0	$0
GLENDA E HOOD	DIRECTOR	1.00	Director	$0	$0	$0
SUSANNAH JOHANNSEN	DIRECTOR	1.00	Director	$0	$0	$0
TINA LILLY	DIRECTOR	1.00	Director	$0	$0	$0
GRETCHEN MCLENNON	DIRECTOR	1.00	Director	$0	$0	$0
BILL MEDICH	DIRECTOR	1.00	Director	$0	$0	$0
KARA OLIDGE	DIRECTOR	1.00	Director	$0	$0	$0
NINA PARIKH	DIRECTOR	1.00	Director	$0	$0	$0
DAVID PLATTS	DIRECTOR	1.00	Director	$0	$0	$0
ALICE RANDALL	DIRECTOR	1.00	Director	$0	$0	$0
NIGEL REDDEN	DIRECTOR	1.00	Director	$0	$0	$0
DENIS SCHOLL	DIRECTOR	1.00	Director	$0	$0	$0
SANDY SHAUGHNESSY	DIRECTOR	1.00	Director	$0	$0	$0
MIKE WOODARD	DIRECTOR	1.00	Director	$0	$0	$0
SUZETTE M SURKAMER	EXECUTIVE DIRECTOR	40.00	Officer	$245,000	$27,000	$272,000
MICHAEL E BOSARGE	CHIEF FINANCIAL OFFICER	40.00	Officer	$109,881	$8,769	$118,650
JOY YOUNG	VP OF PROGRAMS	40.00	Highest	$131,021	$7,950	$138,971
CHARLES PHANEUF	VP OF STRATEGY	40.00	Highest	$120,180	$4,817	$124,997

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	$9,400,617	$8,743,114	$16,798,337	$657,503
2022	$15,914,685	$8,140,904	$13,575,500	$7,773,781
2021	$5,611,811	$5,679,435	$7,711,292	$-67,624
2020	$4,659,966	$4,613,463	$8,150,329	$46,503
2019	$3,169,509	$3,233,899	$5,004,221	$-64,390
2018	$2,750,275	$2,581,270	$4,234,980	$169,005

SOUTH ARTS INC