NORMAN ARTS COUNCIL

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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

1976

Legal Domicile

Principal Officer

LESLIE NOTTINGHAM

Phone

4053601162

Tax Period

2023-07-01 to 2024-06-30

NORMAN ARTS COUNCIL, founded in 1976, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.2M in total revenue in fiscal year 2023. Revenue surged 47% from the prior year, signaling strong growth momentum. Expenses of $1.1M left a modest 10% surplus.

Mission

THE NORMAN ARTS COUNCIL SHALL ENRICH THE NORMAN COMMUNITY BY STIMULATING ARTISTIC, CULTURAL, AND ECONOMIC GROWTH THROUGH THE SUPPORT AND PROMOTION OF THE ARTS. WE ARE A FUNDING AGENCY WHICH GRANTS MONEY TO NORMAN ART ORGANIZATIONS AND SUPPORTS INDIVIDUAL ARTISTS.

Program Service Accomplishments

Program 1

Expenses: $708,875

ANNUALLY, THE NAC GRANTS AT LEAST 60% OF THE FUNDS ALLOCATED TO THE ARTS FROM THE CITY OF NORMAN IN OUR GRANTS PROGRAMS. IN FY 23/24 WE PROVIDED OPERATIONAL AND/OR PROJECT SUPPORT TO THE VARIOUS ARTS ORGANIZATIONS WITHIN THE COMMUNITY. WE ALSO SUPPORT CHILDREN WITH ARTS EDUCATION SCHOLARSHIPS AND INDIVIDUAL ARTISTS WITH PROJECT GRANTS.

Program 2

Expenses: $16,067 Revenue: $55,485

MAINSITE GALLERY EXHIBITS AND ARTS PROGRAMMING - THROUGH OUR EXHIBIT AND ARTS PROGRAM IN OUR GALLERY, MAINSITE, WE WORKED WITH OVER 200 LOCAL AND NATIONAL ARTISTS AND A FEW INTERNATIONAL ARTISTS.

Program 3

Expenses: $558 Revenue: $10,430

THE 2ND FRIDAY ART WALK CONTINUES TO BE ONE OF THE MOST POPULAR EVENTS IN NORMAN. EACH MONTH WE AVERAGE 1,500 VISITORS TO THE BUSINESSES, GALLERIES, ART ORGANIZATIONS, AND RESTAURANTS IN DOWNTOWN...

THE 2ND FRIDAY ART WALK CONTINUES TO BE ONE OF THE MOST POPULAR EVENTS IN NORMAN. EACH MONTH WE AVERAGE 1,500 VISITORS TO THE BUSINESSES, GALLERIES, ART ORGANIZATIONS, AND RESTAURANTS IN DOWNTOWN NORMAN. ART WALK HAS EXPANDED TO FOSTER PROPERIETOR RELATIONSHIPS WITH ARTISTS THAT GIVE THEM A VENUE TO PERFORM OR DISPLAY THEIR WORK OUTSIDE OF NORMAL OPERATIONG HOURS, A FOOD TRUCK AREA TO PROMOTE LOCAL SMALL BUSINESSES, AND IS NOW RECOGNIZED AS A SPECIAL EVENT WITH THE CITY OF NORMAN. THIS PROGRAM PAIRS VISUAL ARTISTS, PERFORMERS, AND MUSICIANS WITH THE BUSINESSES IN NORMAN TO BRING A NIGHT OF FREE ARTS EXPERIENCE TO THE COMMUNITY EACH MONTH.

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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 $1,042,926

Program Service Revenue $65,915

Investment Income $11,477

Other Revenue $60,596

TOTAL REVENUE $1,180,914

Expense Breakdown

Grants Paid $485,789

Salaries & Benefits $244,665

Fundraising Expenses $13,751

Program Expenses $725,500

Other Expenses $327,252

TOTAL EXPENSES $1,057,706

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,180,914	$804,767	+0.5%
Expenses	$1,057,706	$814,135	+0.3%
Net Income	$123,208	$-9,368	-14.2%

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

$73,729

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERINN GAVAGHAN	EXECUTIVE DI	40.00	Officer	$73,729	$0	$73,729
DENNIS BRIGHAM	PRESIDENT	1.00	Officer Director	$0	$0	$0
WILLIAM HICKMAN	PRESIDENT-EL	1.00	Officer Director	$0	$0	$0
JOYCE GREEN	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
AMY MILLION	TREASURER	1.00	Officer Director	$0	$0	$0
FRANCESCA GIANI	SECRETARY	1.00	Officer Director	$0	$0	$0
LESHA MAAG	PAST PRESIDE	1.00	Officer Director	$0	$0	$0
AISHA ALI	DIRECTOR	1.00	Director	$0	$0	$0
TARA BURNETT	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER BURWELL	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN CLOWERS	DIRECTOR	1.00	Director	$0	$0	$0
HALEY DENNIS	DIRECTOR	1.00	Director	$0	$0	$0
ANTHONY FRANCISCO	DIRECTOR	1.00	Director	$0	$0	$0
KEITH GADDIE	DIRECTOR	1.00	Director	$0	$0	$0
CODY GILES	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN ADAMS JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
NICK LILLARD	DIRECTOR	1.00	Director	$0	$0	$0
JENNY MCCALEB	DIRECTOR	1.00	Director	$0	$0	$0
SHAUN MCGINNIS	DIRECTOR	1.00	Director	$0	$0	$0
JAMES BRIGGS	EX OFFICIO	1.00	Director	$0	$0	$0
CHASE SPIVEY	DIRECTOR	1.00	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
2025	No data	No data	No data	No data
2024	$1,180,914	$1,057,706	$663,940	$123,208
2023	$804,767	$814,135	$422,817	$-9,368
2022	$793,391	$800,183	$403,743	$-6,792
2021	$967,533	$744,194	$389,274	$223,339
2020	$655,244	$603,041	$154,301	$52,203
2019	$673,923	$687,863	$197,691	$-13,940
2018	$640,137	$746,458	$168,572	$-106,321