LEE COUNTY ARTS COUNCIL 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

1988

Legal Domicile

Principal Officer

ZACK MEDLIN

Phone

8034845090

Tax Period

2023-07-01 to 2024-06-30

LEE COUNTY ARTS COUNCIL INC, founded in 1988, is a community nonprofit that reported $1.0M in total revenue in fiscal year 2023. Revenue surged 1258% from the prior year, signaling strong growth momentum. The organization ran a surplus of $823K, a strong 82% operating margin.

Mission

THE PURPOSE OF THE ARTS COUNCIL IS TO SPONSOR, FACILITATE, AND ENCOURAGE ARTISTIC, EDUCATIONAL AND CULTURAL ACTIVITIES IN LEE COUNTY.

Program Service Accomplishments

Program 1

Expenses: $48,000 Revenue: $105

1. ART EXHIBITION AND PROGRAMS. THE ARTS COUNCIL/BISHOPVILLE OPERAHOUSE HOSTS A PERMANENT EXHIBIT OF REGIONAL ARTISTS. ALSO HOST "ARTIST OF THE MONTH" EXHIBITS IN THE MAIN DOWNSTAIRS GALLERIES WITH EMPHASIS ON NEW ARTISTS WHO HAVE NOT BEEN PREVIOUSLY ON DISPLAY AT THE OPERAHOUSE. THESE PAINTINGS AS WELL AS OUR "WALL OF FAME" WHICH RECOGNIZES LOCAL ARTISTS/MUSICIANS ARE ON CONTINUOUS DISPLAY TO BE VIEWED BY ALL VISITORS. THE BUILDING ITSELF IS AN HISTORIC BUILDING. THE WALLS ON THE UPSTAIRS BALLROOM ARE DECORATED WITH RESTORED POSTERS WHICH ADVERTISED ACTS APPEARING HERE IN THE 1890s. DOWNSTAIRS IS A WORKROOM FOR INSTRUCTION IN PAINTING AND OTHER MEDIA.

Program 2

Expenses: $26,000 Revenue: $8,105

2. CONCERT SERIES THE LEE COUNTY ARTS COUNCIL BRINGS VARIOUS ARTISTS TO BISHOPVILLE EVERY YEAR. THIS YEAR WE PRESENTED A HARPIST, USC OPERA, USC JAZZ ENSEMBLE, A BEACH MUSIC BAND, PLANTATION SINGERS (GOSPEL A CAPELLA,) AND COUNTRY MUSIC SINGER TO GIVE GREAT VARIETY AND APPEAL TO THE COMMUNITY. COSTS ARE KEPT VERY LOW TO MAKE PROGRAMS ACCESSIBLE TO THE WHOLE COMMUNITY

Program 3

Expenses: $13,000 Revenue: $3,224

3. COMMUNITY FESTIVALS/EVENTS WE HOST ANNUAL "TASTE OF LEE" WHICH IS A COMMUNITY EVENT. ORGANIZATIONS DECORATE AND FURNISH FOOD AND COMPETE FOR PRIZES. ALSO HOLD HOLIDAY EVENTS SUCH AS HALLOWEEN AND...

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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 $948,997

Program Service Revenue $12,904

Investment Income $26,380

Other Revenue $15,974

TOTAL REVENUE $1,004,255

Expense Breakdown

Grants Paid $0

Salaries & Benefits $18,051

Fundraising Expenses $1,389

Program Expenses $95,775

Other Expenses $163,305

TOTAL EXPENSES $181,356

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,004,255	$73,967	+12.6%
Expenses	$181,356	$70,958	+1.6%
Net Income	$822,899	$3,009	+272.5%

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

$5,277

Key Employees