CREATIVE ARMENIA

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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

2016

Legal Domicile

Principal Officer

GARIN HOVANNISIAN

Phone

3109331034

Tax Period

2024-01-01 to 2024-12-31

CREATIVE ARMENIA, founded in 2016, is a micro nonprofit in the International Affairs sector that reported $82K in total revenue in fiscal year 2024. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $134K exceeded revenue, resulting in a 63% operating deficit.

Mission

TO DISCOVER, DEVELOP, AND PROMOTE CREATIVE TALENT ACROSS THE ARTS. IT DOES SO WITH A SPECIAL FOCUS ON ARMENIAN CULTURE AND THROUGH A VARIETY OF PROGRAMS INCLUDING, CREATIVE CHALLENGES, PRODUCTION SUPPORT, ARTIST PROMOTION, AND FELLOWSHIPS.

Program Service Accomplishments

Program 1

Expenses: $68,365

ARTIST PROMOTION: A PROGRAM OF SUPPORT FOR MORE THAN A HUNDRED ARTISTS WHO BELONG TO THE CREATIVE ARMENIA NETWORK. THE PROGRAM INCLUDES GRANTS CALLED SPARK GRANTS, AS WELL AS A VARIETY OF OTHER...

ARTIST PROMOTION: A PROGRAM OF SUPPORT FOR MORE THAN A HUNDRED ARTISTS WHO BELONG TO THE CREATIVE ARMENIA NETWORK. THE PROGRAM INCLUDES GRANTS CALLED SPARK GRANTS, AS WELL AS A VARIETY OF OTHER PROMOTIONAL AND CAREER GROWTH BENEFITS.

Program 2

Expenses: $39,550

EAST-WEST RESIDENCY: A CREATIVE RESIDENCY FOR CUTTING-EDGE ARTISTS.

Program 3

Expenses: $5,259

FISCAL SPONSORSHIP: A PROGRAM BY WHICH FILMMAKERS, MUSICIANS, AND OTHER ARTISTS RAISE INTEREST AND FUNDS FOR THEIR CREATIVE PROJECTS, BY ASKING DONORS TO CONTRIBUTE VIA CREATIVE ARMENIA, WHICH...

FISCAL SPONSORSHIP: A PROGRAM BY WHICH FILMMAKERS, MUSICIANS, AND OTHER ARTISTS RAISE INTEREST AND FUNDS FOR THEIR CREATIVE PROJECTS, BY ASKING DONORS TO CONTRIBUTE VIA CREATIVE ARMENIA, WHICH RETAINS AN INDUSTRY-STANDARD FEE, THEN PASSES ON THE DONATION TO THE ARTIST HIM/HERSELF.

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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 $82,461

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $82,461

Expense Breakdown

Grants Paid $33,000

Salaries & Benefits $52,591

Fundraising Expenses $90

Program Expenses $113,414

Other Expenses $48,564

TOTAL EXPENSES $134,155

Year-over-Year Comparison

	2024	2023	Change
Revenue	$82,461	$66,681	+0.2%
Expenses	$134,155	$272,308	-0.5%
Net Income	$-51,694	$-205,627	-0.7%

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

$48,750

Total Directors