MIDLANDS ARTS CONSERVATORY

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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

CHRIS NEELEY

Phone

8036301622

Tax Period

2023-07-01 to 2024-06-30

MIDLANDS ARTS CONSERVATORY, founded in 2016, is a micro nonprofit that reported $2K in total revenue in fiscal year 2023. Expenses of $71K exceeded revenue, resulting in a 4480% operating deficit.

Mission

THE MIDLANDS ARTS CONSERVATORY PREPARES STUDENTS FOR ART-RELATED CAREERS, A LIFELONG APPRECIATION OF THE ARTS, AND FOR HIGH QUALITY POSTSECONDARY STUDIES. THE SCHOOL PROVIDES AN ARTS-ENRICHED PERSONALIZED LEARNING ENVIRONMENT, INTEGRATING ACADEMIC RIGOR AND QUALITY ARTS INSTRUCTION FOR ALL STUDENTS.

Program Service Accomplishments

Program 1

Revenue: $90

MIDLANDS ARTS CONSERVATORY IS A PART OF THE SOUTH CAROLINA PUBLIC CHARTER SCHOOL DISTRICT. MAC STUDENTS SPEND APPROXIMATELY HALF OF THE SCHOOL DAY STUDYING CORE ACADEMIC COURSES AND HALF THEIR DAY IN THEIR CHOSEN CORE FINE ARTS COURSE OF STUDY- DANCE, MUSIC (STRINGS), THEATRE, OR VISUAL ARTS. AS OF JUNE 30TH 2024, THE SCHOOL CEASAED OPERATIONS AS A PUBLIC CHARTER SCHOOL.

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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 $1,459

Program Service Revenue $90

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,549

Expense Breakdown

Grants Paid $0

Salaries & Benefits $8,177

Fundraising Expenses $0

Other Expenses $62,762

TOTAL EXPENSES $70,939

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,549	N/A	N/A
Expenses	$70,939	N/A	N/A
Net Income	$-69,390	$0	N/A

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
CHRIS NEELEY	SUPERINTENDENT	2.00	Officer 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	$1,549	$70,939	No data	$-69,390
2022	$2,227,926	$2,094,886	$419,454	$133,040
2021	$1,647,722	$1,626,129	$283,619	$21,593
2020	$1,446,975	$1,271,126	$387,468	$175,849
2019	$1,092,458	$1,098,558	$251,671	$-6,100