NAPLES ART ASSOCIATION INC (EIN 591022882) - 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

1954

Legal Domicile

Principal Officer

FRANK VERPOORTEN

Phone

2392626517

Tax Period

2023-10-01 to 2024-09-30

NAPLES ART ASSOCIATION INC, founded in 1954, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.9M in total revenue in fiscal year 2023.

Mission

TO ENLIGHTEN, ENGAGE, EDUCATE, AND ENRICH THE COMMUNITY AS A HUB OF VISUAL ARTS IN SW FLORIDA.

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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 $594,974

Program Service Revenue $1,371,065

Investment Income $5,100

Other Revenue $-25,080

TOTAL REVENUE $1,946,059

Expense Breakdown

Grants Paid $0

Salaries & Benefits $911,890

Fundraising Expenses $158,972

Program Expenses $1,594,826

Other Expenses $1,076,721

TOTAL EXPENSES $1,988,611

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,946,059	$2,032,913	0.0%
Expenses	$1,988,611	$2,265,393	-0.1%
Net Income	$-42,552	$-232,480	-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

262

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

$209,997

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LORRAINE ANTONIELLO KOSTYRA	SECRETARY	3.00	Officer Director	$0	$0	$0
RICKI BAKER	PRESIDENT	8.00	Officer Director	$0	$0	$0
JANE GRAHAM	VICE PRESIDENT	3.00	Officer Director	$0	$0	$0
PAUL PERRY	CHAIRMAN	3.00	Officer Director	$0	$0	$0
BRUCE BARONE	DIRECTOR	3.00	Director	$0	$0	$0
NEAL BENHAM	DIRECTOR	3.00	Director	$0	$0	$0
EUGENIE BODICK-KOREST	DIRECTOR	3.00	Director	$0	$0	$0
ELLIN GOETZ	DIRECTOR	3.00	Director	$0	$0	$0
MERLIN LICKHALTER	DIRECTOR	3.00	Director	$0	$0	$0
FRED LUCONI	DIRECTOR	3.00	Director	$0	$0	$0
ROSE-MARIE VAN OTTERLOO	DIRECTOR	3.00	Director	$0	$0	$0
BETH PETRUNOFF	DIRECTOR	3.00	Director	$0	$0	$0
BOB RAVITZ	DIRECTOR	3.00	Director	$0	$0	$0
MARGIE P WHITE	DIRECTOR	3.00	Director	$0	$0	$0
FRANK VERPOORTEN	EXECUTIVE DIRECTOR & CHIEF CURATOR	40.00	Officer	$209,997	$0	$209,997
JACK DECLOEDT	SR. DIRECTOR OF OPERATIONS	40.00	Highest	$110,731	$9,066	$119,797

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	$1,946,059	$1,988,611	$1,792,560	$-42,552
2023	$2,032,913	$2,265,393	$1,867,767	$-232,480
2022	$1,568,764	$1,976,313	$2,585,042	$-407,549
2021	$1,183,996	$1,314,410	$3,137,049	$-130,414
2020	$932,912	$1,369,116	$3,295,804	$-436,204
2019	$1,167,595	$1,421,306	$3,559,984	$-253,711
2018	$1,289,432	$1,408,355	$3,835,416	$-118,923

NAPLES ART ASSOCIATION INC