FAITHS PLACE CENTER FOR ARTS EDUCA… - Form 990 Financial Data

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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

2012

Principal Officer

NOBLE MAYS

Phone

5618556807

Tax Period

2022-01-01 to 2022-12-31

FAITHS PLACE CENTER FOR ARTS EDUCATION INC, founded in 2012, is a small nonprofit in the Arts, Culture & Humanities sector that reported $733K in total revenue in fiscal year 2022. Revenue decreased 5% compared to the prior year. Expenses of $687K left a modest 6% surplus.

Mission

THE PURPOSE FOR WHICH THE CORPORATION IS ORGANIZED IS TO PROVIDE ARTS AND SOCIAL EDUCATION TO THE COMMUNITY

Program Service Accomplishments

Program 1

Expenses: $667,882

THE PURPOSE FOR WHICH THE CORPORATION IS ORGANIZED IS TO PROVIDE ARTS AND SOCIAL EDUCATION TO THE COMMUNITY

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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 (2022)

Revenue Breakdown

Contributions & Grants $250,000

Program Service Revenue $482,763

Investment Income $0

Other Revenue $0

TOTAL REVENUE $732,763

Expense Breakdown

Grants Paid $50,750

Salaries & Benefits $73,266

Fundraising Expenses $0

Program Expenses $667,882

Other Expenses $563,393

TOTAL EXPENSES $687,409

Year-over-Year Comparison

	2022	2021	Change
Revenue	$732,763	$775,119	-0.1%
Expenses	$687,409	$763,711	-0.1%
Net Income	$45,354	$11,408	+3.0%

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

Total Directors

Key Employees

$16,274

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NOBLE MAYS	PRESIDENT/DIRECTOR	40	Officer	$0	$0	$0
GLORIA LOCKHART	SECRETARY/DIR/CHAPLIN	10	Officer	$0	$0	$0
GEORGE LOCKHART	VP FINANCE/DIRECTOR	5	Officer	$0	$0	$0
CHRISTY COLLINS	VP LEGAL/DIRECTOR	5	Officer Key Emp	$0	$0	$0
CARLA BELL	VP MARKETING/DIRECTOR	5	Key Emp	$0	$0	$0
RONIKA PUGH	ARTS COORD/DIRECTOR	20	Key Emp	$16,274	$0	$16,274

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
2022	$732,763	$687,409	$478,323	$45,354
2020	$881,453	$610,993	$421,561	$270,460
2019	$344,995	$345,245	$91,580	$-250
2018	$325,838	$304,291	$5,194	$21,547
2017	$400,293	$357,532	$1,029	$42,761

FAITHS PLACE CENTER FOR ARTS EDUCATION INC