Rockport Art Association Inc

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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

1969

Legal Domicile

Principal Officer

SANDY D'IMPERIO

Phone

3617295519

Tax Period

2023-01-01 to 2023-12-31

Rockport Art Association Inc, founded in 1969, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.1M in total revenue in fiscal year 2023. Revenue fell 25% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $407K, a strong 19% operating margin.

Mission

The purpose is to promote cultural enrichment and art education in the community as a whole and especially cultural tourism, by establishing Rockport and the Rockport Center for the Arts as a major art destination for visitors.

Program Service Accomplishments

Program 1

Expenses: $329,787 Revenue: $177,105

Art education through workshops, summer youth art program, student intern program, art educator conference, year round family art education programming

Program 2

Expenses: $617,301 Revenue: $262,095

Cultural enrichment and promotion of arts through exhibits, sculpture garden, performances, touring artist, venue for sales by artists and college scholarships for art majors. Construction of new...

Cultural enrichment and promotion of arts through exhibits, sculpture garden, performances, touring artist, venue for sales by artists and college scholarships for art majors. Construction of new facilities to continue mission.

Program 3

Expenses: $313,035 Revenue: $250,014

Cultural enrichment and promotion of arts through special events

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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 $1,413,824

Program Service Revenue $689,214

Investment Income $118,613

Other Revenue $-124,657

TOTAL REVENUE $2,096,994

Expense Breakdown

Grants Paid $0

Salaries & Benefits $441,913

Fundraising Expenses $76,341

Program Expenses $1,260,123

Other Expenses $1,248,312

TOTAL EXPENSES $1,690,225

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,096,994	$2,804,710	-0.3%
Expenses	$1,690,225	$1,182,235	+0.4%
Net Income	$406,769	$1,622,475	-0.7%

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

838

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

Total Directors

Key Employees

$121,250

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LARRY BEAVERS	PRESIDENT	1.00	Officer Director	$0	$0	$0
DEE BECKER	DIRECTOR	1.00	Director	$0	$0	$0
TRACY BENNETT	TREASURER	1.00	Officer Director	$0	$0	$0
REBECCA BRIDGES-RICE	DIRECTOR	1.00	Director	$0	$0	$0
SANDY D'IMPERIO	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JOE HENKEL	DIRECTOR	1.00	Director	$0	$0	$0
TERRY LEWIS	DIRECTOR	1.00	Director	$0	$0	$0
SARA MORRISON	DIRECTOR	1.00	Director	$0	$0	$0
LUCY NYE	SECRETARY	1.00	Officer Director	$0	$0	$0
SUSAN O'BRYANT	DIRECTOR	1.00	Director	$0	$0	$0
KELLY SCHAUB	DIRECTOR	1.00	Director	$0	$0	$0
STAN SMITH	PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
DR TAYLOR STARKEY	DIRECTOR	1.00	Director	$0	$0	$0
DWAYNE WHITLEY	DIRECTOR	1.00	Director	$0	$0	$0
JOHN WILLRODT	DIRECTOR	1.00	Director	$0	$0	$0
LUIS PURON	EXECUTIVE DIRECTOR	40.00	Key Emp	$121,250	$0	$121,250

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	No data	No data	No data	No data
2023	$2,096,994	$1,690,225	$14,457,292	$406,769
2022	$2,804,710	$1,182,235	$14,584,064	$1,622,475
2021	$1,924,520	$1,204,629	$13,512,318	$719,891
2020	$834,026	$1,511,535	$11,580,074	$-677,509
2019	$6,187,983	$901,953	$12,051,032	$5,286,030
2018	$4,474,465	$867,048	$6,642,869	$3,607,417