LAKE CITY ARTS COUNCIL (EIN 841238386) - Form 990 Financial Analysis & Trantor Score

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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

1993

Legal Domicile

Principal Officer

DAVID M DAYVAULT

Phone

9709442706

Tax Period

2023-01-01 to 2023-12-31

LAKE CITY ARTS COUNCIL, founded in 1993, is a small nonprofit in the Arts, Culture & Humanities sector that reported $186K in total revenue in fiscal year 2023. Revenue surged 47% from the prior year, signaling strong growth momentum. Expenses of $216K exceeded revenue, resulting in a 16% operating deficit.

Mission

SUPPORT OF ARTISTIC, MUSICAL AND THEATRICAL ACTIVITIES IN LAKE CITY COLORADO.

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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 $83,732

Program Service Revenue $91,927

Investment Income $0

Other Revenue $10,793

TOTAL REVENUE $186,452

Expense Breakdown

Grants Paid $0

Salaries & Benefits $50,483

Fundraising Expenses $0

Program Expenses $128,593

Other Expenses $165,226

TOTAL EXPENSES $215,709

Year-over-Year Comparison

	2023	2022	Change
Revenue	$186,452	$126,467	+0.5%
Expenses	$215,709	$179,569	+0.2%
Net Income	$-29,257	$-53,102	-0.4%

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
PEGGY BALES	DIRECTOR	N/A	Director	$0	$0	$0
YOLIE BROWN	DIRECTOR	N/A	Director	$0	$0	$0
KERRY COY	DIRECTOR	N/A	Director	$0	$0	$0
DAVID M DAYVAULT	TREASURER	N/A	Officer Director	$0	$0	$0
LINDA DOWNS	DIRECTOR	N/A	Director	$0	$0	$0
HECTOR GOMEZ	DIRECTOR	N/A	Director	$0	$0	$0
BOB JOHNS	DIRECTOR	N/A	Director	$0	$0	$0
JODI LINSEY	DIRECTOR	N/A	Director	$0	$0	$0
CHARLES MORGAN	DIRECTOR	N/A	Director	$0	$0	$0
DAVID PALMER	DIRECTOR	N/A	Director	$0	$0	$0
DONNIE RIGHTSELL	DIRECTOR	N/A	Director	$0	$0	$0
REBECCA ROMANOWSKI	DIRECTOR	N/A	Director	$0	$0	$0
CELESTE SCOTT	PRESIDENT	N/A	Officer Director	$0	$0	$0
JASON SANTOS	DIRECTOR	N/A	Director	$0	$0	$0
CAROLYN VIRDEN	SECRETARY	N/A	Officer 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	$186,452	$215,709	$1,858,387	$-29,257
2022	$126,467	$179,569	$1,882,835	$-53,102
2021	$190,518	$144,588	$1,941,047	$45,930
2020	$60,267	$88,807	$1,940,190	$-28,540

LAKE CITY ARTS COUNCIL