ARTS of the ALBEMARLE

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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

1980

Legal Domicile

Tax Period

2023-07-01 to 2024-06-30

ARTS of the ALBEMARLE, founded in 1980, is a small nonprofit in the Arts, Culture & Humanities sector that reported $825K in total revenue in fiscal year 2023. Revenue surged 152% from the prior year, signaling strong growth momentum. The organization ran a surplus of $329K, a strong 40% operating margin.

Mission

Arts of the Albemarle invites our community and vistors to experience the arts, music and culture of the region through diverse performance, exhibitions and educational programs.

Program Service Accomplishments

Program 1

Expenses: $40,306 Revenue: $65,748

Visual Arts - AOA has a gallery where local artists have the opportunity to display and sell their art. AOA also features workshops for artist to collaborate, share and enjoy spontaneous creativity.

Program 2

Expenses: $37,376 Revenue: $54,355

Preforming Arts - AOA coordinates performances of local talent and also brings into the community talented performers.

Program 3

Expenses: $15,089 Revenue: $45,076

School of Arts - AOA hosts the Center Players. The Center Players program is designed to teach children the performing Arts. Acting, Singing and Dancing.

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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 $630,296

Program Service Revenue $165,179

Investment Income $2,683

Other Revenue $26,627

TOTAL REVENUE $824,785

Expense Breakdown

Grants Paid $0

Salaries & Benefits $155,663

Fundraising Expenses $15,341

Program Expenses $92,771

Other Expenses $340,051

TOTAL EXPENSES $495,714

Year-over-Year Comparison

	2023	2022	Change
Revenue	$824,785	$327,212	+1.5%
Expenses	$495,714	$480,276	+0.0%
Net Income	$329,071	$-153,064	-3.1%

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

N/A

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	Role	Reportable Comp	Other Comp	Total
Lauren Luther	Executor Director	Director	$0	$0	$0
Blair Jackson	President	Officer	$0	$0	$0
Everett Thompson	Treasurer	Officer	$0	$0	$0
Sue Hayhurst	Secretary	Officer	$0	$0	$0
Judy Stallings	Vice President	Officer	$0	$0	$0
Carroll Pereira	Finance Manager	Key Emp	$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
2024	$824,785	$495,714	$2,999,566	$329,071
2024	$824,785	$575,040	$2,583,960	$249,745
2023	$327,212	$480,276	$2,463,296	$-153,064
2022	$358,677	$429,608	$2,627,722	$-70,931
2021	$333,341	$345,009	$2,702,880	$-11,668
2020	$378,786	$374,857	$2,707,551	$3,929