LitArts RI

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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

Anne Holland

Phone

4013072450

Tax Period

2024-01-01 to 2024-12-31

LitArts RI, founded in 2018, is a small nonprofit in the Human Services sector that reported $328K in total revenue in fiscal year 2024. Revenue fell 63% from the prior year — a significant decline worth monitoring. Net assets of $700K represent 26 months of operating reserves.

Mission

LitArts RI, formerly What Cheer Writers Club, supports Rhode Island's creators of the written, spoken and illustrated word through community events, free and low-cost business services, and discounted coworking space. As an umbrella organization, we serve as a centralized community connecting content creators, fans and literary organizations state-wide.Our mission is to elevate the content arts in our state by providing accessible workshops and community gatherings where writers can feel supported and known by fellow creatives and patrons of the arts. In addition, we seek to burnish Rhode Island's reputation as a literary destinationa place where content creators thrive.

Program Service Accomplishments

Program 1

Expenses: $224,543 Revenue: $19,003

LitArts RI supports Rhode Island writers and contributes to the state's arts ecosystem. The organization operates an award-winning Center in Providence offering creative workspace designed for...

LitArts RI supports Rhode Island writers and contributes to the state's arts ecosystem. The organization operates an award-winning Center in Providence offering creative workspace designed for writers, meeting rooms, an audio arts studio, and a local author library. LitArts RI programming includes over a dozen local writing groups, craft workshops led by local teaching artists, professional development practicums for writers. In addition, the organization holds community events such as write-ins and spoken word events at external venues including local bookshops and arts organizations. In 2024, program highlights included a Writing + Wellness Resource Fair in which LitArts RI brough the community together to support writers and help them find the resources they need to thrive. LitArts RI also debuted Writers Like Us, a day of free programming designed by and for BIPOC creatives. The organization offered professional development through Build Your Creative Capital, an application support day for writers, and finished out the year with a panel on Queries, Proposals and Publishing for Writers of Genre. In addition, LitArts RI hosted 22 writing workshops, 15 writing groups and showcased the work of over 200 local artists.

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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 $308,894

Program Service Revenue $19,003

Investment Income $0

Other Revenue $0

TOTAL REVENUE $327,897

Expense Breakdown

Grants Paid $0

Salaries & Benefits $167,902

Fundraising Expenses $21,102

Program Expenses $224,543

Other Expenses $159,906

TOTAL EXPENSES $327,808

Year-over-Year Comparison

	2024	2023	Change
Revenue	$327,897	$890,365	-0.6%
Expenses	$327,808	$379,503	-0.1%
Net Income	$89	$510,862	-1.0%

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

$119,160

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Holly Gaboriault	Director	1.00	Director	$0	$0	$0
Dr Michelle Cruz	Director	1.00	Director	$0	$0	$0
Ana Gonzalez	Director	1.00	Director	$0	$0	$0
Anne Holland	President	10.00	Officer	$0	$0	$0
Cynthia Holt	Director	4.00	Officer	$0	$0	$0
Jillian Winters	Operations Director	40.00	Officer	$42,388	$2,773	$45,161
Jodie Vinson	Program Director	40.00	Officer	$69,741	$4,258	$73,999

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	$327,897	$327,808	$703,219	$89
2023	$890,365	$379,503	$707,784	$510,862
2022	$309,393	$302,703	$201,442	$6,690
2021	$221,601	$246,010	$186,623	$-24,409
2020	$219,600	$212,424	$209,914	$7,176
2019	$204,068	$208,515	$203,925	$-4,447