HEART OF THE ARTS INC (EIN 753106131) - 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

2002

Legal Domicile

Phone

2086692249

Tax Period

2023-01-01 to 2023-12-31

HEART OF THE ARTS INC, founded in 2002, is a small nonprofit in the Arts, Culture & Humanities sector that reported $419K in total revenue in fiscal year 2023. Revenue decreased 17% compared to the prior year. Expenses of $403K left a modest 4% surplus.

Mission

ORGANIZATION EXISTS TO DEVELOP AND FUND ARTISTIC AND CULTURAL PROGRAMS.

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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 $278,558

Program Service Revenue $138,712

Investment Income $1,441

Other Revenue $0

TOTAL REVENUE $418,711

Expense Breakdown

Grants Paid $0

Salaries & Benefits $142,253

Fundraising Expenses $147

Program Expenses $398,475

Other Expenses $260,859

TOTAL EXPENSES $403,259

Year-over-Year Comparison

	2023	2022	Change
Revenue	$418,711	$501,841	-0.2%
Expenses	$403,259	$330,494	+0.2%
Net Income	$15,452	$171,347	-0.9%

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

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

$53,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JENNY KOSTROFF	Executive Dir.	40.00	Officer	$53,000	$0	$53,000
KATE MCCETICH	Director	1.00	Director	$0	$0	$0
MARIE DUNCAN	Treasurer	1.00	Officer Director	$0	$0	$0
STACI SPROULL	President	1.00	Officer Director	$0	$0	$0
LYNN YOUNGBLOOD	Director	1.00	Director	$0	$0	$0
DARYLE FAIRCLOTH	Vice President	1.00	Officer Director	$0	$0	$0
AMANDA NELSON	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
2024	No data	No data	No data	No data
2023	$418,711	$403,259	$2,963,949	$15,452
2022	$501,841	$330,494	$2,939,054	$171,347
2021	$570,265	$272,785	$2,783,304	$297,480
2021	$570,265	$272,785	$2,783,304	$297,480
2020	$1,169,703	$213,107	$2,550,811	$956,596
2019	$728,713	$237,616	$1,692,069	$491,097
2018	$287,731	$230,962	$1,201,966	$56,769

HEART OF THE ARTS INC