SHERIDAN ARTS FOUNDATION

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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

1991

Legal Domicile

Principal Officer

STEVEN PALAMAR

Phone

9707286363

Tax Period

2023-10-01 to 2024-09-30

SHERIDAN ARTS FOUNDATION, founded in 1991, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.5M in total revenue in fiscal year 2023.

Mission

RESTORE AND PRESERVE THE HISTORIC SHERIDAN OPERA HOUSE AS AN ARTS AND CULTURAL RESOURCE FOR THE TELLURIDE COMMUNITY; BRING QUALITY ARTS AND CULTURAL EVENTS TO TELLURIDE; PROVIDE LOCAL AND NATIONAL YOUTH WITH ACCESS AND EXPOSURE TO THE ARTS THROUGH EDUCATION

Program Service Accomplishments

Program 1

Expenses: $1,390,143 Revenue: $962,715

PROMOTING THE PERFORMING ARTS AND SHERIDAN OPERA HOUSE OPERATIONS. OVER 22,000 PEOPLE TOOK ADVANTAGE OF THE EVENTS AND SHOWS OFFERED AT THE OPERA HOUSE.

Program 2

Expenses: $38,094 Revenue: $100,279

YOUNG PEOPLE'S THEATER IS A DIVERSE AND FLOURISHING CENTER FOR YOUNG THESPIANS THAT HAS AN ENROLLMENT OF OVER 200 CHILDREN BETWEEN AGES 2 AND 18 EACH YEAR. THE PROGRAM FEES ARE BASED ON FINANCIAL...

YOUNG PEOPLE'S THEATER IS A DIVERSE AND FLOURISHING CENTER FOR YOUNG THESPIANS THAT HAS AN ENROLLMENT OF OVER 200 CHILDREN BETWEEN AGES 2 AND 18 EACH YEAR. THE PROGRAM FEES ARE BASED ON FINANCIAL ABILITY. SEVERAL CLASSES ARE HELD THROUGHOUT THE YEAR. FOUR FULL LENGTH MUSICALS WERE PRESENTED OVER 14 SHOWS AT THE OPERA HOUSE. 2,200 PEOPLE ATTENDED THE SHOWS.

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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 $420,547

Program Service Revenue $780,672

Investment Income $54,719

Other Revenue $282,322

TOTAL REVENUE $1,538,260

Expense Breakdown

Grants Paid $0

Salaries & Benefits $738,036

Fundraising Expenses $80,334

Program Expenses $1,428,237

Other Expenses $928,334

TOTAL EXPENSES $1,666,370

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,538,260	$1,530,778	+0.0%
Expenses	$1,666,370	$1,617,261	+0.0%
Net Income	$-128,110	$-86,483	+0.5%

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

115

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

$120,749

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SCOTT SWANK	DIRECTOR	1.00	Director	$0	$0	$0
GRACE ENGBRING	DIRECTOR	1.00	Director	$0	$0	$0
MARK DALTON	CHAIRMAN	2.00	Officer Director	$0	$0	$0
JAMES GALLAGHER	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JAMES I BLACK III	SECRETARY	1.00	Officer Director	$0	$0	$0
JASON SOULES	DIRECTOR	1.00	Director	$0	$0	$0
STEVEN PALAMAR	PRESIDENT	40.00	Officer	$120,749	$0	$120,749
RONATTA PALAMAR	EXECUTIVE DIRECTOR	40.00	Highest	$129,116	$0	$129,116

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	$1,538,260	$1,666,370	$2,823,775	$-128,110
2023	$1,530,778	$1,617,261	$2,927,869	$-86,483
2022	$1,473,861	$1,326,996	$3,014,799	$146,865
2021	$1,721,240	$1,051,274	$2,967,332	$669,966
2020	$1,400,889	$1,257,129	$2,253,435	$143,760
2019	$1,629,788	$1,497,831	$2,055,456	$131,957
2018	$1,507,575	$1,427,996	$1,965,293	$79,579