Gainesville Fine Arts Association (EIN 591595970) - 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

1973

Legal Domicile

Principal Officer

Kathryn Lemle

Phone

3523285027

Tax Period

2024-01-01 to 2024-12-31

Gainesville Fine Arts Association, founded in 1973, is a small nonprofit that reported $156K in total revenue in fiscal year 2024. Revenue decreased 14% compared to the prior year. Expenses of $189K exceeded revenue, resulting in a 21% operating deficit.

Mission

Gainesville Fine Arts Association (GFAA) is dedicated to supporting visual arts through exhibitions, workshops and programming.

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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 $106,891

Program Service Revenue $42,481

Investment Income $3,451

Other Revenue $3,082

TOTAL REVENUE $155,905

Expense Breakdown

Grants Paid $200

Salaries & Benefits $87,048

Fundraising Expenses $6,921

Program Expenses $156,151

Other Expenses $101,597

TOTAL EXPENSES $188,845

Year-over-Year Comparison

	2024	2023	Change
Revenue	$155,905	$181,353	-0.1%
Expenses	$188,845	$198,867	-0.1%
Net Income	$-32,940	$-17,514	+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

$65,820

Total Directors

$65,820

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Kathryn Lemle	Executive Director	40.00	Officer Director	$65,820	$0	$65,820
Rebecca Hoffman	Member	1.30	Director	$0	$0	$0
Kyle Novak	Member	1.30	Director	$0	$0	$0
Wes Lindberg	Member	2.00	Director	$0	$0	$0
Christine Brundige	Member	3.00	Director	$0	$0	$0
Charlotte Newman	Member	1.30	Director	$0	$0	$0
Lexi Braun	Member	1.30	Director	$0	$0	$0
Susan Fulford	President	5.00	Officer Director	$0	$0	$0
Sally Larson	Vice President	3.00	Officer Director	$0	$0	$0
Sara McTigue	Secretary	1.00	Officer Director	$0	$0	$0
Kathy Faraone	Treasurer	5.00	Officer Director	$0	$0	$0
Eileen Sloth	Treasurer	5.00	Officer 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
2024	$155,905	$188,845	$149,774	$-32,940
2023	$181,353	$198,867	$180,392	$-17,514
2022	$202,981	$174,560	$199,140	$28,421

Gainesville Fine Arts Association