EDMONDS CENTER FOR THE ARTS

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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

2003

Legal Domicile

Principal Officer

LORI MEAGHER

Phone

4252754485

Tax Period

2024-01-01 to 2024-12-31

EDMONDS CENTER FOR THE ARTS, founded in 2003, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.3M in total revenue in fiscal year 2024.

Mission

ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND TO CARRY OUT THE PURPOSES OF THE EDMONDS PUBLIC FACILITIES DISTRICT, A TAX EXEMPT GOVERNMENT ORGANIZATION THROUGH CELEBRATING THE PERFORMING ARTS, STRENTHENING, AND INSPIRING THE COMMUNITY AND STEWARDING THE DEVELOPMENT AND CREATIVE USE OF THE EDMONDS CENTER FOR THE ARTS CAMPUS.

Program Service Accomplishments

Program 1

Expenses: $189,323 Revenue: $351,734

EDMONDS CENTER FOR THE ARTS (ECA), IN PARTNERSHIP WITH EDMONDS PUBLIC FACILITIES DISTRICT, PRESENTED MORE THAN 40 DIVERSE PERFORMANCES OF MUSIC, DANCE, THEATER AND COMEDY TO AN AUDIENCE OF NEARLY...

EDMONDS CENTER FOR THE ARTS (ECA), IN PARTNERSHIP WITH EDMONDS PUBLIC FACILITIES DISTRICT, PRESENTED MORE THAN 40 DIVERSE PERFORMANCES OF MUSIC, DANCE, THEATER AND COMEDY TO AN AUDIENCE OF NEARLY 22,000 PEOPLE THROUGH ITS PRESENTED ARTIST SERIES. IN ADDITION, ECA ENGAGED OVER 5,000 COMMUNITY MEMBERS OF ALL AGES IN FREE OR LOW-COST OUTREACH PROGRAMS, INCLUDING EDUCATION MATINES FOR SCHOOL GROUPS, ARTIST RESIDENCIES AND OUTREACH, DEMENTIA-INCLUSIVE SERIES, FAMILY PROGRAMMING AND SUMMER ARTS ENRICHMENT CAMPS. ECA HOSTED MORE THAN 125 EVENTS IN THE THEATER THAT WERE PRESENTED BY A RANGE OF REGIONAL ORGANIZATIONS, OTHER NON- PROFITS AND CORPORATE CLIENTS. IN ALL, ECA SERVED MORE THAN 90,000 PEOPLE IN EDMONDS AND THROUGHOUT THE PUGET SOUND REGION WITH THEATER, EDUCATION, OUTREACH AND DIVERSIFIED CULTURAL EVENTS. WE HAD OVER 150 VOLUNTEERS THAT DONATED OVER 7,500 HOURS OF THEIR TIME.

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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 (2024)

Revenue Breakdown

Contributions & Grants $723,760

Program Service Revenue $351,476

Investment Income $263

Other Revenue $194,571

TOTAL REVENUE $1,270,070

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $9,514

Program Expenses $189,323

Other Expenses $1,340,961

TOTAL EXPENSES $1,340,961

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,270,070	$1,270,859	0.0%
Expenses	$1,340,961	$1,188,403	+0.1%
Net Income	$-70,891	$82,456	-1.9%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CORBITT LOCH	BOARD MEMBER	2.00	Director	$0	$0	$0
RICK CANNING	SECRETARY/TREASURER	6.00	Officer Director	$0	$0	$0
LAURA ELLIS	BOARD MEMBER	3.50	Director	$0	$0	$0
MATT COX	BOARD VICE-PRESIDENT	4.00	Director	$0	$0	$0
HEIDI S NAPOLITINO	BOARD MEMBER	3.00	Director	$0	$0	$0
VICTORIA O'GORMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
NILES PEACOCK	BOARD MEMBER	0.10	Director	$0	$0	$0
TANYA SHARP	BOARD MEMBER	1.00	Director	$0	$0	$0
JEANNE THORSEN	BOARD MEMBER	1.25	Director	$0	$0	$0
COURTNEY WOOTEN	BOARD MEMBER	2.50	Director	$0	$0	$0
NICK SWEERS	BOARD MEMBER	0.25	Director	$0	$0	$0
KIM BAYER-AUGUSTAVO	BOARD MEMBER	1.50	Director	$0	$0	$0
NORM BROWN	BOARD MEMBER	3.50	Director	$0	$0	$0
MICHAEL CHONG	BOARD MEMBER	0.50	Director	$0	$0	$0
MATT BALDOCK	BOARD MEMBER	0.50	Director	$0	$0	$0
TONI BAUMANN	BOARD MEMBER	0.75	Director	$0	$0	$0
GLENDA KRULL	BOARD MEMBER	7.00	Director	$0	$0	$0
TREASURE MACKLEY	BOARD MEMBER	2.00	Director	$0	$0	$0
STEVEN RUANE	BOARD MEMBER	0.50	Director	$0	$0	$0
JEFF LEWIS	BOARD MEMBER	2.00	Director	$0	$0	$0
JAMIE AARONSON	BOARD MEMBER	0.75	Director	$0	$0	$0
DAVID SCHAEFER	IMMEDIATE PAST PRESIDENT	3.00	Officer	$0	$0	$0
LINDSAY GEYER	BOARD PRESIDENT	12.00	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	$1,270,070	$1,340,961	$338,563	$-70,891
2023	$1,270,859	$1,188,403	$463,169	$82,456
2022	$1,017,282	$1,264,653	$639,170	$-247,371
2021	$954,686	$757,399	$603,823	$197,287
2020	$1,320,246	$1,180,981	$360,676	$139,265
2019	$1,318,785	$1,342,674	$307,457	$-23,889
2018	$1,356,149	$1,253,368	$367,038	$102,781