PORT ARANSAS ART CENTER (EIN 742782537) - Form 990 Financial Analysis & Trantor Score

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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

1995

Legal Domicile

Principal Officer

GAYLE ABERNETHY

Phone

3617497334

Tax Period

2023-01-01 to 2023-12-31

PORT ARANSAS ART CENTER, founded in 1995, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.1M in total revenue in fiscal year 2023. Revenue surged 319% from the prior year, signaling strong growth momentum. The organization ran a surplus of $759K, a strong 68% operating margin.

Mission

TO PROVIDE A PLACE WHERE ARTISTS AND ART PATRONS MAY GATHER TO ENCOURAGE, EDUCATE AND SUPPORT ONE ANOTHER IN A PLEASANT ATMOSPHERE. ARTISTS FROM ALL OVER TEXAS AS WELL AS OUT-OF-STATE VISITORS ENJOY DISPLAYING ART AND OFFER ARTISTIC INSTRUCTION TO THE PUBLIC.

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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 $935,195

Program Service Revenue $45,449

Investment Income $6,311

Other Revenue $132,172

TOTAL REVENUE $1,119,127

Expense Breakdown

Grants Paid $0

Salaries & Benefits $145,752

Fundraising Expenses $0

Program Expenses $336,631

Other Expenses $214,412

TOTAL EXPENSES $360,164

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,119,127	$266,795	+3.2%
Expenses	$360,164	$269,145	+0.3%
Net Income	$758,963	$-2,350	-324.0%

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

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

$75,245

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAN PECORE	BOARDMEMBER	2.00	Director	$0	$0	$0
STEVE DAVIS	BOARDMEMBER	2.00	Director	$0	$0	$0
RON SMITH	BOARDMEMBER	2.00	Director	$0	$0	$0
KARN RIDOUT	BOARDMEMBER	1.00	Director	$0	$0	$0
RITA REED	BOARDMEMBER	7.00	Director	$0	$0	$0
ED REED	BOARDMEMBER	3.00	Director	$0	$0	$0
TIM PARKE	BOARDMEMBER	3.00	Director	$0	$0	$0
MICHELLE ZUDRELL	CEO	40.00	Officer	$75,245	$0	$75,245
JOHN MORRIS	PRESIDENT	12.00	Officer	$0	$0	$0
BOBBIE MUSSETT	SECRETARY	8.00	Officer	$0	$0	$0
GAYLE ABERNETHY	TREASURER	4.00	Officer	$0	$0	$0
GARY KOSMAS	VICE PRESIDENT	4.00	Officer	$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
2023	$1,119,127	$360,164	$1,889,649	$758,963
2022	$266,795	$269,145	$1,157,143	$-2,350
2021	$205,901	$188,606	$1,192,602	$17,295
2020	$116,078	$130,266	$1,197,635	$-14,188
2019	$183,440	$211,134	$1,223,944	$-27,694

PORT ARANSAS ART CENTER