ARTSMEMPHIS

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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

1962

Legal Domicile

Principal Officer

JULIE WIKLUND

Phone

9015782787

Tax Period

2024-07-01 to 2025-06-30

ARTSMEMPHIS, founded in 1962, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.0M in total revenue in fiscal year 2024. Revenue decreased 14% compared to the prior year. Expenses of $3.1M exceeded revenue, resulting in a 53% operating deficit.

Mission

SUPPORTING THE ARTS TO STRENGTHEN THE MEMPHIS COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $1,509,252

OPERATING SUPPORT GRANTS: ARTSMEMPHIS, THROUGH THIS CORNERSTONE GRANT PROGRAM, NURTURES SMALL, COMMUNITY-BASED ARTS ORGANIZATIONS AND SUPPORTS LARGER ORGANIZATIONS THAT CREATE THE SEEDS FOR NEW...

OPERATING SUPPORT GRANTS: ARTSMEMPHIS, THROUGH THIS CORNERSTONE GRANT PROGRAM, NURTURES SMALL, COMMUNITY-BASED ARTS ORGANIZATIONS AND SUPPORTS LARGER ORGANIZATIONS THAT CREATE THE SEEDS FOR NEW INITIATIVES AND LEND STABILITY TO THE OVERALL ARTS LANDSCAPE. ARTSMEMPHIS SEEKS TO ENABLE ALL EFFECTIVE ARTS ORGANIZATIONS TO SUCCEED. WE RECOGNIZE THAT UNRESTRICTED OPERATING SUPPORT IS THE MOST VALUABLE FUNDING THAT AN ARTS ORGANIZATION CAN RECEIVE AND THE MOST DIFFICULT TYPE OF FUNDING TO RAISE.

Program 2

Expenses: $88,675

ARTSASSIST GRANTS: THESE ARE UNRESTRICTED GRANTS FOR ARTISTS, TO SUPPORT THE EXPANSION AND INNOVATION OF QUALITY ARTISTIC WORK. ARTSMEMPHIS RECOGNIZES THE RISK TAKING THAT IS NECESSARY TO ADVANCE AN ARTIST'S VISION, PRACTICE, AND ARTISTIC ACCOMPLISHMENTS. THE ARTSASSIST GRANT PROGRAM ENABLES ARTSMEMPHIS TO DEMONSTRATE THE VALUE OF ARTISTS' WORK TO OUR REGION BY SUPPORTING WORKING ARTISTS IN THEIR ARTISTIC PRACTICE. THIS PROGRAM CONTRIBUTES TO THE VITALITY OF OUR ARTISTIC COMMUNITY AND HELPS MEMPHIS ATTRACT AND RETAIN A VIBRANT CREATIVE CLASS. THROUGH THIS PROGRAM, WE HONOR THE WORK OF SEASONED ARTISTS, ADVANCE THE WORK OF MID-CAREER ARTISTS, AND NURTURE THE WORK OF EMERGING ARTISTS.

Program 3

Expenses: $475,046

ENHANCEMENT GRANTS: THE PURPOSE OF THESE GRANTS, WHICH COME FROM A SPECIFIC FUND OF OUR ENDOWMENT, IS TO BUILD AN ORGANIZATION'S LONG-TERM CAPACITY, INCREASE LONG-TERM EARNED INCOME STREAMS, CATALYZE AND ASSIST AN ORGANIZATION IN GOING TO THE NEXT LEVEL, AND/OR FUND VENTURE CAPITAL/RISK-TAKING INITIATIVES WITH POTENTIAL FOR RETURN ON INVESTMENT AND BROAD COMMUNITY IMPACT.

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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 $1,607,691

Program Service Revenue $0

Investment Income $206,229

Other Revenue $204,074

TOTAL REVENUE $2,017,994

Expense Breakdown

Grants Paid $1,701,406

Salaries & Benefits $823,092

Fundraising Expenses $623,171

Program Expenses $2,155,322

Other Expenses $564,693

TOTAL EXPENSES $3,089,191

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,017,994	$2,334,272	-0.1%
Expenses	$3,089,191	$3,920,114	-0.2%
Net Income	$-1,071,197	$-1,585,842	-0.3%

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

115

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

$367,670

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHY GALE UHLHORN	MEMBER, BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
RUSS WIGGINTON	SECRETARY, BOARD OF DIRECT	0.00	Officer Director	$0	$0	$0
PAT DANEHY	MEMBER, BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
TROW GILLESPIE	MEMBER, BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
MARY HOPKINS	TREASURER, BOARD OF DIRECT	0.00	Officer Director	$0	$0	$0
BRUCE HOPKINS	MEMBER, BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
JON MOOREHEAD	CHAIR, BOARD OF DIRECTORS	0.00	Officer Director	$0	$0	$0
GARY WUNDERLICH	MEMBER, BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
OSCAR ADAMS	MEMBER, BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
BO ALLEN	MEMBER, BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
CALVIN BIGGERS	MEMBER, BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
MIKE CAMPANARO	MEMBER, BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
KATE CONNELL	MEMBER, BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
BOB CRADDOCK	MEMBER, BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
MARTIN HAND	VICE CHAIR, BOARD OF DIREC	0.00	Officer Director	$0	$0	$0
LOWRY HOWELL	MEMBER, BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
RACHEL JACKSON	MEMBER, BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
DIANNE MALL	MEMBER, BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
REG PAIGE	MEMBER, BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
KERA GETTER	MEMBER, BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
JOHN BASS	MEMBER, BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
CARL MOORE	MEMBER, BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
BO WHITE	MEMBER, BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
AUDSLEY CARR	MEMBER, BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
JONATHAN HANCOCK	MEMBER, BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
TRACY LAURITZEN WRIGHT	CHIEF OPERATING OFFICER	40.00	Officer	$107,681	$0	$107,681
JULIE WIKLUND	CHIEF FINANCIAL OFFICER	40.00	Officer	$95,175	$0	$95,175
ELIZABETH ROUSE	PRESIDENT, CEO	40.00	Officer	$164,814	$0	$164,814

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
2025	$2,017,994	$3,089,191	$28,806,095	$-1,071,197
2024	$2,334,272	$3,920,114	$27,849,267	$-1,585,842
2023	$3,289,255	$4,429,798	$27,700,637	$-1,140,543
2022	$4,849,435	$3,461,047	$27,136,198	$1,388,388
2021	$7,627,424	$2,262,185	$27,910,571	$5,365,239
2020	$1,361,032	$2,741,658	$17,554,417	$-1,380,626
2019	$2,465,046	$2,534,095	$19,575,424	$-69,049
2018	$1,709,509	$2,352,548	$20,160,440	$-643,039