THE NICHOLSON PROJECT

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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

2019

Legal Domicile

Principal Officer

STEFANIE REISER

Phone

7035982420

Tax Period

2023-01-01 to 2023-12-31

THE NICHOLSON PROJECT, founded in 2019, is a small nonprofit that reported $540K in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year. The organization ran a surplus of $108K, a strong 20% operating margin.

Mission

AN ARTIST RESIDENCY PROGRAM COUPLED WITH A NEIGHBORHOOD GARDEN THAT WORKS TO SUPPORT ARTISTS AND SERVE AS A CREATIVE AND INNOVATIVE CULTURAL HUB.

Program Service Accomplishments

Program 1

Expenses: $250,639 Revenue: $1,526

PUBLIC ART - THE NICHOLSON PROJECT PRESENTED "MYTHIC FUTURES", A SERIES OF FOUR PUBLIC ARTWORKS, ONE IN EACH QUADRANT OF WASHINGTON, DC CREATED BY ARTIST ANTOINE WILLIAMS. "MYTHIC FUTURES" WAS AN...

PUBLIC ART - THE NICHOLSON PROJECT PRESENTED "MYTHIC FUTURES", A SERIES OF FOUR PUBLIC ARTWORKS, ONE IN EACH QUADRANT OF WASHINGTON, DC CREATED BY ARTIST ANTOINE WILLIAMS. "MYTHIC FUTURES" WAS AN AFROFUTURIST AND SURREALIST MURAL SERIES THAT BROUGHT TO LIFE CONTEMPORARY BLACK FOLKLORE IN A MOMENT OF SOCIAL, RACIAL, AND ECONOMIC UPHEAVAL. EACH MURAL CAME TO LIFE WITH ACCOMPANYING AUGMENTED REALITY (AR) ANIMATION AND AUDIO COMPONENTS THAT VIEWERS COULD INTERACT WITH VIA INSTAGRAM.

Program 2

Expenses: $65,478

ARTIST RESIDENCY - THE NICHOLSON PROJECT'S ARTIST RESIDENCY PROGRAM COMPRISED FOUR TEN-WEEK, IN-HOUSE RESIDENCIES AND FOUR ONE-WEEK DIGITAL RESIDENCIES. IN-HOUSE RESIDENTS WERE AWARDED A TEN-WEEK...

ARTIST RESIDENCY - THE NICHOLSON PROJECT'S ARTIST RESIDENCY PROGRAM COMPRISED FOUR TEN-WEEK, IN-HOUSE RESIDENCIES AND FOUR ONE-WEEK DIGITAL RESIDENCIES. IN-HOUSE RESIDENTS WERE AWARDED A TEN-WEEK RESIDENCY TO LIVE AND WORK ON-SITE IN A FULLY FURNISHED APARTMENT AND ARTIST STUDIO, A $5,000 STIPEND, SUPPORT FROM GUEST CURATORS AND STAFF, $2,000 TO DEVELOP A PUBLIC ENGAGEMENT PROGRAM OR ART ACTIVATION, DOCUMENTATION OF THEIR ARTWORK; AND PROFESSIONAL DEVELOPMENT OPPORTUNITIES. DIGITAL RESIDENTS RECEIVED $500 FOR A FIVE-DAY ONLINE RESIDENCY, SHARED ACROSS SOCIAL MEDIA, AND ARCHIVED ON THE NICHOLSON PROJECT WEBSITE.

Program 3

Expenses: $19,541

GARDEN - THE NICHOLSON PROJECT'S GARDEN CONSISTS OF 15 RAISED BEDS OF ORGANIC PRODUCE AND HERBS AND A TWENTY-FOUR-FOOT RACK OF RASPBERRIES. THE GARDEN MANAGER OVERSEES THE PLANTING, HARVESTING, AND DISTRIBUTION OF THE PRODUCE AND SERVES AS AN EDUCATOR AND THE MAIN POINT OF CONTACT FOR OUR GARDEN ACTIVITIES AND DISTRIBUTION DURING PEAK GROWING SEASON. IN 2023, THE NICHOLSON PROJECT DISTRIBUTED OVER 4,000 SERVINGS OF FRESH PRODUCE TO OUR DIRECT COMMUNITY.

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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 $534,785

Program Service Revenue $1,526

Investment Income $0

Other Revenue $3,595

TOTAL REVENUE $539,906

Expense Breakdown

Grants Paid $0

Salaries & Benefits $135,272

Fundraising Expenses $39,779

Program Expenses $352,773

Other Expenses $296,381

TOTAL EXPENSES $431,653

Year-over-Year Comparison

	2023	2022	Change
Revenue	$539,906	$573,722	-0.1%
Expenses	$431,653	$444,504	0.0%
Net Income	$108,253	$129,218	-0.2%

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

$74,459

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALLISON NANCE	MANAGING DIRECTOR	40.00	Officer	$73,109	$1,350	$74,459
STEFANIE REISER	EXECUTIVE DIRECTOR AND CHAIR	20.00	Officer Director	$0	$0	$0
KIMBERLY MOORE	VICE CHAIR UNTIL OCT.	1.00	Officer Director	$0	$0	$0
PAUL RUPPERT	TREASURER	1.00	Officer Director	$0	$0	$0
IAN CALLENDER	BOARD MEMBER	1.00	Director	$0	$0	$0
NICOLE DOWD	BOARD MEMBER	1.00	Director	$0	$0	$0
OSHUN LAYNE	BOARD MEMBER	1.00	Director	$0	$0	$0
KEITH SWITZER	BOARD MEMBER AS OF JULY	1.00	Director	$0	$0	$0
CAROLINE TRUDEAU	BOARD MEMBER UNTIL JAN.	1.00	Director	$0	$0	$0
MARISSA LEVIN	BOARD MEMBER UNTIL MAY	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
2024	No data	No data	No data	No data
2023	$539,906	$431,653	$308,893	$108,253
2022	$573,722	$444,504	$199,640	$129,218
2022	$565,722	$444,506	$191,640	$121,216
2021	$292,645	$269,501	$71,474	$23,144