THEATRE ART GALLERIES INC (EIN 561784862) - 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

1992

Legal Domicile

Principal Officer

JEFF HORNEY

Phone

3368872137

Tax Period

2023-07-01 to 2024-06-30

THEATRE ART GALLERIES INC, founded in 1992, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.2M in total revenue in fiscal year 2023. Revenue surged 54% from the prior year, signaling strong growth momentum. The organization ran a surplus of $680K, a strong 55% operating margin.

Mission

TO PROVIDE QUALITY VISUAL ART EXHIBITS AND EDUCATIONAL EXPERIENCES FOR THE ENRICHMENT OF THE ENTIRE COMMUNITY.

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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 $1,100,192

Program Service Revenue $70,933

Investment Income $45,613

Other Revenue $16,198

TOTAL REVENUE $1,232,936

Expense Breakdown

Grants Paid $0

Salaries & Benefits $255,714

Fundraising Expenses $27,717

Program Expenses $432,293

Other Expenses $297,611

TOTAL EXPENSES $553,325

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,232,936	$798,271	+0.5%
Expenses	$553,325	$429,652	+0.3%
Net Income	$679,611	$368,619	+0.8%

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

N/A

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

$106,145

Total Directors

$106,145

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEPHANIE BEAVER	PAST PRESIDENT	0.50	Officer Director	$0	$0	$0
JOHN CONRAD	DIRECTOR	0.50	Director	$0	$0	$0
DONNA CUMBY	DIRECTOR	0.50	Director	$0	$0	$0
JEFF HORNEY	EXECUTIVE DIRECTOR	40.00	Officer Director	$102,925	$3,220	$106,145
DORIS DEAL	EMERTIUS	0.50	Director	$0	$0	$0
LIN AMOS	PRESIDENT	0.50	Officer Director	$0	$0	$0
SUSAN WOOD	DIRECTOR	0.50	Director	$0	$0	$0
JUSTIN STABB	DIRECTOR	0.50	Director	$0	$0	$0
CAROLINE GODWIN	DIRECTOR	0.50	Director	$0	$0	$0
KATHY ROHRBECK	DIRECTOR	0.50	Director	$0	$0	$0
EMILEE BRIGMAN	DIRECTOR	0.50	Director	$0	$0	$0
STEPHANIE GOLDMAN	DIRECTOR	0.50	Director	$0	$0	$0
GAYLE LAMBETH	DIRECTOR	0.50	Director	$0	$0	$0
STEPHANIE EDWARDS	DIRECTOR	0.50	Director	$0	$0	$0
CAROLYN SHAW	DIRECTOR	0.50	Director	$0	$0	$0
COURTNEY BEST	SECRETARY	0.50	Officer Director	$0	$0	$0
MEREDITH COVINGTON	DIRECTOR	0.50	Director	$0	$0	$0
GRACE HENLEY	VICE-PRESIDENT	0.50	Officer Director	$0	$0	$0
JACKIE CAMERON	TREASURER	0.50	Officer Director	$0	$0	$0
SARAH BETH DAVIS	DIRECTOR	0.50	Director	$0	$0	$0
MOLLY KEENAN	AT-LARGE	0.50	Director	$0	$0	$0
FRANK LAYON	DIRECTOR	0.50	Director	$0	$0	$0
LEE NUNN	DIRECTOR	0.50	Director	$0	$0	$0
ELIZABETH WEAVER	AT-LARGE	0.50	Director	$0	$0	$0
TAYLOR WEST	DIRECTOR	0.50	Director	$0	$0	$0
ASHLEY WILLIAMS	DIRECTOR	0.50	Director	$0	$0	$0
BRIAN CHECK	DIRECTOR	0.50	Director	$0	$0	$0
DAVID ARMSTRONG	DIRECTOR	0.50	Director	$0	$0	$0
HEATHER CROSS	DIRECTOR	0.50	Director	$0	$0	$0
TRAVIS MOORE	DIRECTOR	0.50	Director	$0	$0	$0
MORGAN QUBEIN	DIRECTOR	0.50	Director	$0	$0	$0
HALEIGH SEXTON	DIRECTOR	0.50	Director	$0	$0	$0
AMBER WILLIAMSON	DIRECTOR	0.50	Director	$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	$1,232,936	$553,325	$2,399,918	$679,611
2023	$798,271	$429,652	$1,651,821	$368,619
2022	$438,591	$228,024	$1,259,941	$210,567
2021	$295,260	$187,741	$777,882	$107,519
2020	$242,684	$243,776	$578,972	$-1,092
2019	$276,374	$226,655	$553,887	$49,719
2018	$263,455	$230,736	$498,654	$32,719

THEATRE ART GALLERIES INC