SKAGIT ART PRESCHOOL

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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

ALEXIS CHERRY

Phone

3604195419

Tax Period

2023-01-01 to 2023-12-31

SKAGIT ART PRESCHOOL, founded in 2017, is a small nonprofit that reported $318K in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum.

Mission

WE ARE AN INCLUSIVE SCHOOL AND WELCOME A VERY DIVERSE GROUP OF FAMILIES WITHIN OUR CLASSROOM.

Program Service Accomplishments

Program 1

Expenses: $304,210 Revenue: $247,397

OUR CURRENT CURRICULUM LOOKS TO AND BORROWS IDEAS AND LESSONS FROM HANDWRITING WITHOUT TEARS, CREATIVE CURRICULUM AND BEYOND THE PAGE AND PLACES AN EMPHASIS ON LITERACY AND SOCIAL/EMOTIONAL...

OUR CURRENT CURRICULUM LOOKS TO AND BORROWS IDEAS AND LESSONS FROM HANDWRITING WITHOUT TEARS, CREATIVE CURRICULUM AND BEYOND THE PAGE AND PLACES AN EMPHASIS ON LITERACY AND SOCIAL/EMOTIONAL DEVELOPMENT.

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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 $70,189

Program Service Revenue $247,398

Investment Income $3

Other Revenue $0

TOTAL REVENUE $317,590

Expense Breakdown

Grants Paid $0

Salaries & Benefits $253,329

Fundraising Expenses $457

Program Expenses $304,210

Other Expenses $76,424

TOTAL EXPENSES $330,210

Year-over-Year Comparison

	2023	2022	Change
Revenue	$317,590	$256,480	+0.2%
Expenses	$330,210	$319,406	+0.0%
Net Income	$-12,620	$-62,926	-0.8%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALEXIS CHERRY	PRESIDENT	15.00	Officer Director	$0	$0	$0
TOMAS KING	VICE PRESIDE	10.00	Officer Director	$0	$0	$0
PATRICIA LEMLEY	TREASURER	10.00	Officer Director	$0	$0	$0
BRIANNA MILLER	SECRETARY	3.00	Officer Director	$0	$0	$0
NICOLE COCHRAN	MEMBER AT LA	1.00	Director	$0	$0	$0
WILLIAM COX	MEMBER AT LA	3.00	Director	$0	$0	$0
SARA PETERSON	MEMBER AT LA	1.00	Director	$0	$0	$0
KRYSTINA TRAWEEK	MEMBER AT LA	1.00	Director	$0	$0	$0
ELIZABETH POLI-FICON	MEMBER AT LA	1.00	Director	$0	$0	$0
LAURA GLIDDEN	MEMBER AT LA	1.00	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
2023	$317,590	$330,210	$38,094	$-12,620
2022	$256,480	$319,406	$50,714	$-62,926
2021	$374,529	$248,899	$113,640	$125,630
2020	$244,266	$264,110	$12,479	$-19,844
2019	$206,626	$189,416	$8,681	$17,210