HILLSBOROUGH ARTS COUNCIL (EIN 562163979) - 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

1999

Legal Domicile

Principal Officer

FLORENCE SMITH

Phone

9196432500

Tax Period

2023-07-01 to 2024-06-30

HILLSBOROUGH ARTS COUNCIL, founded in 1999, is a small nonprofit in the Arts, Culture & Humanities sector that reported $271K in total revenue in fiscal year 2023. Revenue grew 19% year-over-year, indicating healthy expansion.

Mission

ARTS EVENTS AND EDUCATION IN HILLSBOROUGH AND ORANGE COUNTY, NORTH CAROLINA

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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 $191,881

Program Service Revenue $38,537

Investment Income $13

Other Revenue $40,539

TOTAL REVENUE $270,970

Expense Breakdown

Grants Paid $0

Salaries & Benefits $154,188

Fundraising Expenses $17,841

Program Expenses $231,246

Other Expenses $116,305

TOTAL EXPENSES $270,493

Year-over-Year Comparison

	2023	2022	Change
Revenue	$270,970	$227,438	+0.2%
Expenses	$270,493	$221,648	+0.2%
Net Income	$477	$5,790	-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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHY HUPP	DIRECTOR	2.00	Director	$0	$0	$0
ARISA KUSUMI SULLIVAN	DIRECTOR	2.00	Director	$0	$0	$0
DAVID HAYES	DIRECTOR	2.00	Director	$0	$0	$0
JULIA WORKMAN	DIRECTOR	2.00	Director	$0	$0	$0
CHELSEA MAIER	DIRECTOR	2.00	Director	$0	$0	$0
SARAH HALIHAN SMITH	DIRECTOR	2.00	Director	$0	$0	$0
CATHLEEN TURNER	DIRECTOR	2.00	Director	$0	$0	$0
KERA YOUNKER	DIRECTOR	2.00	Director	$0	$0	$0
MITZI CHOATE	DIRECTOR	2.00	Director	$0	$0	$0
JOSHUA COLLINS	BOARD CHAIR	5.00	Officer	$0	$0	$0
FLORENCE SMITH	TREASURER	5.00	Officer	$0	$0	$0
JEFF BERST	VICE CHAIR	5.00	Officer	$0	$0	$0
JOHN CLAUDE BEMIS	SECRETARY	2.00	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	$270,970	$270,493	$74,811	$477
2023	$227,438	$221,648	$74,792	$5,790
2022	$193,280	$253,323	$69,082	$-60,043
2021	$146,071	$110,855	$97,953	$35,216
2020	$196,863	$207,589	$63,114	$-10,726
2019	$190,257	$156,672	$75,625	$33,585

HILLSBOROUGH ARTS COUNCIL