SPEEDWELL PROJECTS

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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

2015

Legal Domicile

Principal Officer

EILEEN MONAHAN

Phone

8185993233

Tax Period

2024-01-01 to 2024-12-31

SPEEDWELL PROJECTS, founded in 2015, is a small nonprofit in the Arts, Culture & Humanities sector that reported $131K in total revenue in fiscal year 2024. Revenue fell 31% from the prior year — a significant decline worth monitoring. Expenses of $179K exceeded revenue, resulting in a 36% operating deficit.

Mission

SPEEDWELL projects promotes the creative work of women who have demonstrated a lifelong commitment to their artistic practice; we support women of all races, ethnicities, sexualities, gender identities, classes, and abilities through exhibitions, residencies, publications, and documentaries.

Program Service Accomplishments

Program 1

Expenses: $141,206 Revenue: $6,034

Through comprehensive solo exhibitions, short documentaries, public programming, artists' talks and conversations with critics, critical reviews and collaboration with other arts organizations...

Through comprehensive solo exhibitions, short documentaries, public programming, artists' talks and conversations with critics, critical reviews and collaboration with other arts organizations, SPEEDWELL is working to correct the invisibility for this group of master practitioners. By shining a light on the work of women, people of color and LGBTQ+ artists we are working to make a necessary historic correction.

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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 $125,414

Program Service Revenue $0

Investment Income $26

Other Revenue $6,034

TOTAL REVENUE $131,474

Expense Breakdown

Grants Paid $43,160

Salaries & Benefits $58,096

Fundraising Expenses $11,779

Program Expenses $141,206

Other Expenses $78,155

TOTAL EXPENSES $179,411

Year-over-Year Comparison

	2024	2023	Change
Revenue	$131,474	$190,977	-0.3%
Expenses	$179,411	$185,147	0.0%
Net Income	$-47,937	$5,830	-9.2%

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

$33,246

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jocelyn Lee	Co Founder, Co-President	10.00	Officer Director	$0	$0	$0
Brian Urquhart	Co-Founder, Co-President	10.00	Officer Director	$0	$0	$0
Eileen Monahan	Treasurer	2.00	Officer Director	$0	$0	$0
Katy Kelleher	Secretary	2.00	Officer Director	$0	$0	$0
Kate Katomski	Board Member	2.00	Director	$0	$0	$0
Louise Kennelly	Board Member	2.00	Director	$0	$0	$0
Kristy Mogensen	Board Member	2.00	Director	$0	$0	$0
Christine Williams	Board Member	2.00	Director	$0	$0	$0
Shoshannah White	Board Member	2.00	Director	$0	$0	$0
Bethany Engstrom	Managing Director	30.00	Officer	$33,246	$0	$33,246

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	$131,474	$179,411	$48,991	$-47,937
2023	$190,977	$185,147	$113,744	$5,830
2022	$193,226	$164,358	$89,319	$28,868