ALCHEMY ART CENTER

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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

2018

Legal Domicile

Principal Officer

MARIA MICHAELSON

Phone

3606228581

Tax Period

2023-01-01 to 2023-12-31

ALCHEMY ART CENTER, founded in 2018, is a small nonprofit in the Arts, Culture & Humanities sector that reported $292K in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion. The organization ran a surplus of $97K, a strong 33% operating margin.

Mission

ALCHEMY ART CENTER'S MISSION IS TO PROVIDE ARTS PROGRAMMING AND CREATIVE COMMUNITY FOR PEOPLE ON RURAL SAN JUAN ISLAND. WE BELIEVE THAT ARTISTS SHOULD HAVE ACCESS TO THE TOOLS, SPACE, AND COLLABORATIVE SUPPORT NECESSARY FOR CREATING. ALCHEMY ART CENTER FULFILLS A VITAL ROLE AS A PLACE WHERE ARTISTS OF ALL AGES CAN WORK, AND WHERE THE LARGER COMMUNITY CAN EXPLORE ARTISTIC EXPRESSION.

Program Service Accomplishments

Program 1

Expenses: $51,660 Revenue: $35,248

STUDIO MEMBERSHIP: USE OF OUR CERAMICS, PRINTMAKING, AND PHOTO STUDIO. WE HAD AN AVERAGE OF 30 MEMBERS PER MONTH IN 2023.

Program 2

Expenses: $78,730 Revenue: $18,311

OUTREACH/ARTISTS IN COMMUNITY: BRINGING ACCESS TO THE ARTS TO THE PUBLIC. OVER 1000 PEOPLE WERE SERVED. WE OFFERED ACTIVITIES FOR KIDS AND ADULTS IN PUBLIC SPACES IN COLLABORATION WITH OUT COMMUNITY PARTNERS. WE HOUSE 11 ARTISTS THROUGHOUT THE SUMMER. ADDITIONALLY WE OFFERED A FREE 10-WEEK ART AND ENVIRONMENTAL STEWARDSHIP PROGRAM GEARED TOWARD MIDDLE AND HIGH SCHOOL AGED KIDS.

Program 3

Expenses: $35,566 Revenue: $45,488

CLASSES: WE HOLD CLASSES FOR KIDS AND ADULTS IN PRINTMAKING, CERAMICS, PHOTOGRAPHY, AND OTHER ART FORMS. SIX - EIGHT CLASSES WERE HELD PER MONTH, WITH 400 ATTENDEES TOTAL.

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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 $150,808

Program Service Revenue $99,047

Investment Income $93

Other Revenue $42,230

TOTAL REVENUE $292,178

Expense Breakdown

Grants Paid $0

Salaries & Benefits $84,329

Fundraising Expenses $5,839

Program Expenses $165,956

Other Expenses $109,359

TOTAL EXPENSES $195,249

Year-over-Year Comparison

	2023	2022	Change
Revenue	$292,178	$251,192	+0.2%
Expenses	$195,249	$164,549	+0.2%
Net Income	$96,929	$86,643	+0.1%

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

$51,873

Total Directors