SOKOLOFF ARTS FOUNDATION INC

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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

2017

Legal Domicile

Principal Officer

SCOTT SOKOLOFF

Phone

2126347690

Tax Period

2021-07-01 to 2022-06-30

SOKOLOFF ARTS FOUNDATION INC, founded in 2017, is a small nonprofit in the Arts, Culture & Humanities sector that reported $327K in total revenue in fiscal year 2021. The organization ran a surplus of $61K, a strong 19% operating margin.

Mission

SOKOLOFF ARTS (501C3) ADVANCES EQUITY BY BUILDING AFFORDABLE AND ACCESSIBLE SPACES FOR PUBLIC ASSEMBLY, PERFORMANCE, CREATIVITY, AND CONVERSATION

Program Service Accomplishments

Program 1

Expenses: $191,677

TOWN STAGES IS A 10,000 SQ FT LIVE PERFORMANCE VENUE OWNED AND OPERATED BY SOKOLOFF ARTS SUPPORTING LIVE MUSIC, DANCE, COMEDY, THEATRICAL PRODUCTIONS, AND RELATED EVENTS FOR UNDERREPRESENTED VOICES IN THE ARTS AND BEYOND. TOWN STAGES FACILITY FEATURES MULTIPLE SPACES AND STAGES TO SUPPORT AUDIENCES SMALL, MEDIUM, AND LARGE FOR THE PUBLIC. WE ARE REVIEWING ALTERNATIVES AND CHANGES TO OUR MISSION IN ORDER TO BE ABLE TO SURVIVE THE IMPACT OF COVID ON OUR PROGRAMMING AND FUNDING SOURCES.

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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 (2021)

Revenue Breakdown

Contributions & Grants $386,284

Program Service Revenue $0

Investment Income $-59,539

Other Revenue $0

TOTAL REVENUE $326,745

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $191,677

Other Expenses $266,212

TOTAL EXPENSES $266,212

Year-over-Year Comparison

	2021	2020	Change
Revenue	$326,745	N/A	N/A
Expenses	$266,212	N/A	N/A
Net Income	$60,533	N/A	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
ROBIN SOKOLOFF	CHAIRWOMAN	2.00	Officer	$0	$0	$0
LEONARD ROSENBLUM	MEMBER	1.00	Director	$0	$0	$0
SCOTT SOKOLOFF	SECRETARY/TR	2.00	Officer	$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
2022	$326,745	$266,212	$48,951	$60,533
2020	$325,948	$455,113	$347,335	$-129,165
2019	$441,979	$512,119	$321,200	$-70,140
2019	$503,048	$503,867	$282,128	$-819