MEMPHIS COLLEGE OF ART

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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

1936

Legal Domicile

Principal Officer

LAURA HINE

Phone

9012725100

Tax Period

2020-07-01 to 2021-06-30

MEMPHIS COLLEGE OF ART, founded in 1936, is a micro nonprofit that reported $98K in total revenue in fiscal year 2020. Revenue fell 98% from the prior year — a significant decline worth monitoring. Expenses of $315K exceeded revenue, resulting in a 220% operating deficit.

Mission

MEMPHIS COLLEGE OF ART IS DEDICATED TO TEACHING THE PRACTICE, HISTORY AND APPRECIATION OF VISUAL ART AND DESIGN; CHALLENGING ALL STUDENTS TO REACH THEIR HIGHEST INDIVIDUAL POTENTIAL, AND PREPARING GRADUATES TO SUCCEED IN THEIR CAREERS AND CHANGE THE WORLD.

Program Service Accomplishments

Program 1

Expenses: $221,765 Revenue: $91,506

EDUCATIONAL INSTRUCTIONS FOR STUDENTS IN DEGREE PROGRAMS AND CONTINUING EDUCATION COURSES FOR ADDITIONAL STUDENTS.

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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 (2020)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $7,893

Investment Income $6,694

Other Revenue $83,613

TOTAL REVENUE $98,200

Expense Breakdown

Grants Paid $0

Salaries & Benefits $47,284

Fundraising Expenses $0

Program Expenses $221,765

Other Expenses $267,319

TOTAL EXPENSES $314,603

Year-over-Year Comparison

	2020	2019	Change
Revenue	$98,200	$5,588,063	-1.0%
Expenses	$314,603	$5,326,632	-0.9%
Net Income	$-216,403	$261,431	-1.8%

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

N/A

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

$265,394

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HENRY DOGGRELL	CHAIR	1.00	Director	$0	$0	$0
MICHAEL V LANDRUM	BOARD MEMBER	1.00	Director	$0	$0	$0
CECIL C HUMPHREYS JR	BOARD MEMBER	1.00	Director	$0	$0	$0
GARY BACKAUS	BOARD MEMBER	1.00	Director	$0	$0	$0
ALLISON GARROTT BRASWELL	BOARD MEMBER	1.00	Director	$0	$0	$0
JIM GILLILAND	BOARD MEMBER	1.00	Director	$0	$0	$0
RHYNETTE HURD	BOARD MEMBER	1.00	Director	$0	$0	$0
SUE LAYMAN LIGHTMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
MURRAY RISS	BOARD MEMBER	1.00	Director	$0	$0	$0
TATE WILSON	BOARD MEMBER	1.00	Director	$0	$0	$0
LAURA HINE	PRESIDENT	1.00	Officer	$137,807	$6,644	$144,451
LISA ZYRIEK	CFO	1.00	Officer	$115,612	$5,331	$120,943

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
2021	$98,200	$314,603	$485,491	$-216,403
2020	$5,588,063	$5,326,632	$723,329	$261,431
2019	$6,382,644	$6,732,562	$8,527,037	$-349,918
2018	$12,834,604	$27,431,554	$17,859,407	$-14,596,950