GALVESTON ARTS CENTER

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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

Phone

4097632403

Tax Period

2023-09-01 to 2024-08-31

GALVESTON ARTS CENTER, founded in 1986, is a small nonprofit in the Arts, Culture & Humanities sector that reported $433K in total revenue in fiscal year 2023. Revenue fell 24% from the prior year — a significant decline worth monitoring. Expenses of $649K exceeded revenue, resulting in a 50% operating deficit.

Mission

ARTS PRESERVATION AND ENHANCEMENT.

Program Service Accomplishments

Program 1

Expenses: $316,267

DISPLAY OF CONTEMPORARY ARTS AND CRAFTS FOR PUBLIC VIEWING AND PURCHASE, EDUCATIONAL CLASSES TEACHING VARIOUS ART SKILLS AND HOSTING SPECIAL EVENTS TO PROMOTE HISTORIC DOWNTOWN GALVESTON.

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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 $322,147

Program Service Revenue $89,599

Investment Income $559

Other Revenue $21,166

TOTAL REVENUE $433,471

Expense Breakdown

Grants Paid $0

Salaries & Benefits $254,437

Fundraising Expenses $0

Program Expenses $316,267

Other Expenses $394,498

TOTAL EXPENSES $648,935

Year-over-Year Comparison

	2023	2022	Change
Revenue	$433,471	$567,659	-0.2%
Expenses	$648,935	$586,505	+0.1%
Net Income	$-215,464	$-18,846	+10.4%

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

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
TERESA POTTER	EXECUTIVE DIRECTOR	40.00		$54,250	$0	$54,250
PATRICK BUTLER	Treasurer	1.00	Officer Director	$0	$0	$0
JOAN FINN	Director	1.00	Director	$0	$0	$0
JEN PEARSON	Director	1.00	Director	$0	$0	$0
ROBERT LYNCH	Director	1.00	Director	$0	$0	$0
DOUG MCLEAN	PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
BRENT BELL	Vice President	1.00	Officer Director	$0	$0	$0
CHRISTINE HOPKINS	Director	1.00	Director	$0	$0	$0
JOYCE MCLEAN	President	1.00	Officer Director	$0	$0	$0
STEVE FISHER	Director	1.00	Director	$0	$0	$0
SELAH TACCONI	Secretary	1.00	Officer Director	$0	$0	$0
AMY OWENS	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
2025	No data	No data	No data	No data
2024	$433,471	$648,935	$3,027,589	$-215,464
2023	$567,659	$586,505	$3,210,174	$-18,846
2022	$424,300	$593,720	$3,195,403	$-169,420
2021	$451,790	$545,616	$3,371,677	$-93,826
2020	$473,240	$524,616	$3,463,624	$-51,376
2019	$509,133	$540,108	$3,559,580	$-30,975
2018	$535,024	$627,336	$3,580,960	$-92,312