RALEIGH FINE ARTS SOCIETY 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

1965

Legal Domicile

Principal Officer

MARGUERITE HARDY

Phone

9197817119

Tax Period

2024-07-01 to 2025-06-30

RALEIGH FINE ARTS SOCIETY INC, founded in 1965, is a small nonprofit that reported $381K in total revenue in fiscal year 2024. Revenue surged 30% from the prior year, signaling strong growth momentum. Expenses of $576K exceeded revenue, resulting in a 51% operating deficit.

Mission

TO CULTIVATE, PRODUCE AND ENGAGE IN THE ARTS AND CREATE A FLOURISHING ARTS COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $42,980

THE CHORAL CELEBRATION ALLOWS ELEMENTARY SCHOOL STUDENTS THE OPPORTUNITY TO PERFORM IN PUBLIC VENUES AND TO BE CRITIQUED BY ADJUDICATORS. THE SOCIETY HAD 11 PARTICIPATING SCHOOLS, INCLUDING 2 NEW...

THE CHORAL CELEBRATION ALLOWS ELEMENTARY SCHOOL STUDENTS THE OPPORTUNITY TO PERFORM IN PUBLIC VENUES AND TO BE CRITIQUED BY ADJUDICATORS. THE SOCIETY HAD 11 PARTICIPATING SCHOOLS, INCLUDING 2 NEW SCHOOLS. OVER 500 STUDENTS WERE INVOLVED IN THIS TWO-NIGHT EVENT AND OVER 1,800 PEOPLE ATTENDED (INCLUDING THE STUDENTS).

Program 2

Expenses: $85,648 Revenue: $17,330

THE ARTISTS' EXHIBITION IS AN ANNUAL STATEWIDE EVENT THAT OFFERS ARTISTS AN OPPORTUNITY TO PRESENT THEIR WORK AND BE JURIED BY A RENOWNED ART PROFESSIONAL. THE EXHIBIT FEATURED 57 ARTISTS AND 58...

THE ARTISTS' EXHIBITION IS AN ANNUAL STATEWIDE EVENT THAT OFFERS ARTISTS AN OPPORTUNITY TO PRESENT THEIR WORK AND BE JURIED BY A RENOWNED ART PROFESSIONAL. THE EXHIBIT FEATURED 57 ARTISTS AND 58 WORKS FROM 420 ARTISTS WHO APPLIED FROM ALL OVER NORTH CAROLINA.

Program 3

Expenses: $20,739

THE LITERARY CONTEST IS OPEN TO STUDENTS IN WAKE COUNTY, PUBLIC OR PRIVATE. STUDENTS PRESENT A SPOKEN WORD CREATION, AND WINNERS ARE CHOSEN BY A NOTED SPOKEN WORD ARTIST. WINNERS PRESENT THEIR WORKS...

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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 $122,850

Program Service Revenue $75,176

Investment Income $183,028

Other Revenue $0

TOTAL REVENUE $381,054

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $456,027

Other Expenses $576,282

TOTAL EXPENSES $576,282

Year-over-Year Comparison

	2024	2023	Change
Revenue	$381,054	$292,533	+0.3%
Expenses	$576,282	$285,273	+1.0%
Net Income	$-195,228	$7,260	-27.9%

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

N/A

Volunteers

125

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
ASTRA BALL	VP-PROJECTS	12.00	Officer Director	$0	$0	$0
LIZA WILLIAMS	PRESIDENT-ELECT	35.00	Director	$0	$0	$0
GRAHAM SATISKY	PRESIDENT	40.00	Officer Director	$0	$0	$0
MARGARET DOUGLAS	VP-PROGRAMS	1.50	Officer Director	$0	$0	$0
COOPER BRATTON	VP-MEMBER SERVICES	1.00	Officer Director	$0	$0	$0
CAROLINE RUSSELL	VP-COMMUNITY LIAISONS	1.00	Officer Director	$0	$0	$0
MARTY PETERSON	VP-COMMUNICATIONS	3.50	Officer Director	$0	$0	$0
ELIZABETH DIXON	RECORDING SECRETARY	2.50	Officer Director	$0	$0	$0
MIG HARDY	TREASURER	10.00	Officer Director	$0	$0	$0
JENNIFER ELAM	TREASURER-ELECT	6.00	Director	$0	$0	$0
LYN MANESS	IMMEDIATE PAST PRESIDENT	12.00	Director	$0	$0	$0
CAROL LYNN FOSTER	DIRECTOR	1.00	Director	$0	$0	$0
JAN WOODARD	DIRECTOR	1.00	Director	$0	$0	$0
MARJORIE HODGES	DIRECTOR	1.00	Director	$0	$0	$0
NANCY KENNA	DIRECTOR	1.00	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	$381,054	$576,282	$2,482,209	$-195,228
2024	$292,533	$285,273	$2,604,072	$7,260
2023	$269,963	$266,532	$2,416,434	$3,431
2022	$288,127	$169,918	$2,284,610	$118,209
2021	$293,735	$113,502	$2,671,467	$180,233
2020	$392,578	$181,937	$2,063,329	$210,641
2019	$407,321	$245,426	$1,953,373	$161,895