Duluth, MN
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)ARMORY ARTS AND MUSIC CENTER, founded in 2001, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.6M in total revenue in fiscal year 2023. Revenue surged 370% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.1M, a strong 82% operating margin.
To preserve the Duluth Armory and its historic value to American culture and the arts, while encouraging its reuse, placing emphasis on arts & education.
The Armory Arts and Music Center AAMC made excellent progress during 2023 towards its vision of creating a mixed-use project in the Armory, centered around a public market food hall in the Drill...
The Armory Arts and Music Center AAMC made excellent progress during 2023 towards its vision of creating a mixed-use project in the Armory, centered around a public market food hall in the Drill Hall, and including a Shared Use Commercial Kitchen. Accomplishments included: Creation of Architectural and engineering drawings Preliminary pricing by three general contractors Abatement of asbestos paid for in part by a MN Department of Employment and Economic Development Redevelopment Grant Continued partnering with Sherman Associates, a development company based in Minneapolis, MN Secured significant funds for the project
The AAMC continues to further the arts portion of our mission by providing affordable artist studio space at the Armory Annex Art Studios immediately adjacent to the historic Armory for our 10th...
The AAMC continues to further the arts portion of our mission by providing affordable artist studio space at the Armory Annex Art Studios immediately adjacent to the historic Armory for our 10th year. The artists currently at the Annex Art Studios include blacksmiths, painters, visual artist, a custom jeweler, and a piano repair workshop. The plan is to relocate these artists, and more, to the Armory once it is rehabilitated.
The AAMC operates the Music Resource Center, an after-school music program for teenagers in the Duluth-Superior area. The mission of the Music Resource Center is to educate and inspire young people...
The AAMC operates the Music Resource Center, an after-school music program for teenagers in the Duluth-Superior area. The mission of the Music Resource Center is to educate and inspire young people, and through music equip them with life skills for the future. We accomplish this mission through music education and performance opportunities, as well as life skills mentoring. The MRC, now in its 13th year, we were very excited to hire a new Director this year due to three grants. Shawna Weaver started in February and reopened the MRC to in person student attendance in April of 2023. The MRC program has grown under the guidance of Shawna including more students, instructors, and outreach.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $2,579,366 | $548,238 | +3.7% |
| Expenses | $463,711 | $151,824 | +2.1% |
| Net Income | $2,115,655 | $396,414 | +4.3% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| Mark Poirer | Executive Director | 40 |
Key Emp
|
$52,083 | $0 | $52,083 |
| Nelson French | Board Member | 2 |
Director
|
$0 | $0 | $0 |
| Roger Reinert | Board Member | 1 |
Director
|
$0 | $0 | $0 |
| Zane Bail | Board Member | 1 |
Director
|
$0 | $0 | $0 |
| Robert Hewitt | Board Member | 1 |
Director
|
$0 | $0 | $0 |
| Deborah Scott | Board Member | 1 |
Director
|
$0 | $0 | $0 |
| Laura Weintraub | Board Member | 1 |
Director
|
$0 | $0 | $0 |
| Sara Blanck | Board Member | 1 |
Director
|
$0 | $0 | $0 |
| Tom Hollenhorst | Secretary | 1 |
Officer
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$0 | $0 | $0 |
| Mike Poupore | Vice President | 1 |
Officer
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$0 | $0 | $0 |
| Carolyn Sundquist | President | 4 |
Officer
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$0 | $0 | $0 |
| Mary Ostman | Treasurer | 5 |
Officer
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $2,579,366 | $463,711 | $4,614,194 | $2,115,655 |
| 2023 | $2,557,903 | $341,996 | $6,474,137 | $2,215,907 |
| 2022 | $548,238 | $151,824 | $4,250,585 | $396,414 |
| 2021 | $198,495 | $143,477 | $3,849,559 | $55,018 |
| 2020 | $88,931 | $120,459 | $3,797,436 | $-31,528 |
Compare ARMORY ARTS AND MUSIC CENTER with other nonprofits in Minnesota and across the country.