THE ARTS STUDIO DBA FIREHOUSE ART CENTER

EIN: 742380475 501(c)(3)

Longmont, CO

Total Revenue
$241,995
Total Expenses
$178,251
Total Assets
$203,726
Net Assets
$189,665
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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
1986
Legal Domicile
CO
Principal Officer
Elaine Waterman
Phone
3036512787
Tax Period
2022-01-01 to 2022-12-31

THE ARTS STUDIO DBA FIREHOUSE ART CENTER, founded in 1986, is a small nonprofit that reported $242K in total revenue in fiscal year 2022. The organization ran a surplus of $64K, a strong 26% operating margin.

Mission

The Firehouse Art Center inspires cultural engagement and human connection by providing life-enhancing experiences through exhibitions, education, and community 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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $162,201
Program Service Revenue $61,458
Investment Income $79
Other Revenue $18,257
TOTAL REVENUE $241,995

Expense Breakdown

Grants Paid $21,725
Salaries & Benefits $76,250
Fundraising Expenses $34,870
Program Expenses $178,251
Other Expenses $80,276
TOTAL EXPENSES $178,251

Year-over-Year Comparison

2022 2021 Change
Revenue $241,995 N/A N/A
Expenses $178,251 N/A N/A
Net Income $63,744 $0 N/A
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

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Governance

Voting Members
8
Independent Members
7
Employees
4
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
0
$0
Total Directors
9
$49,808
Key Employees
1
$49,808
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
E Waterman Excutive Director 40.00
Director Key Emp Highest
$49,808 $0 $49,808
J Cross President 2.00
Director
$0 $0 $0
D Martonis Vice President 2.00
Director
$0 $0 $0
E Moore Board Member 1.00
Director
$0 $0 $0
N Huber Board Member 1.00
Director
$0 $0 $0
D Hartman Secretary 2.00
Director
$0 $0 $0
W Northcutt Board member 2.00
Director
$0 $0 $0
M Davis Board Member 2.00
Director
$0 $0 $0
G Shafer Treasurer 2.00
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
2024 No data No data No data No data
2022 $241,995 $178,251 $203,726 $63,744
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