SILVER ART PROJECTS INC

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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

DINO FUSCO

Phone

2125517324

Tax Period

2023-01-01 to 2023-12-31

SILVER ART PROJECTS INC, founded in 2019, is a small nonprofit in the Arts, Culture & Humanities sector that reported $164K in total revenue in fiscal year 2023. Revenue fell 36% from the prior year — a significant decline worth monitoring. Expenses of $532K exceeded revenue, resulting in a 225% operating deficit.

Mission

SILVER ART PROJECTS (SAP) IS DEDICATED TO SUPPORTING EMERGING ARTISTS IN NEW YORK CITY BY PROVIDING A YEAR-LONG RESIDENCY TO A COHORT OF 28 ARTISTS THAT RECEIVE SPONSORED STUDIO SPACE, MENTORSHIP, AND STIPENDS.

Program Service Accomplishments

Program 1

Expenses: $356,245

SILVER ART PROJECTS PROGRAM INVITES 28 ARTISTS TO OCCUPY APPROXIMATLEY 38,000 SQUARE FEET OF LOWER MANHATTAN OFFICE SPACE DONATED BY A GENEROUS SPONSOR. THE SPACE IS OUTFITTED TO ACCOMMODATE...

SILVER ART PROJECTS PROGRAM INVITES 28 ARTISTS TO OCCUPY APPROXIMATLEY 38,000 SQUARE FEET OF LOWER MANHATTAN OFFICE SPACE DONATED BY A GENEROUS SPONSOR. THE SPACE IS OUTFITTED TO ACCOMMODATE INDIVIDUAL ARTIST STUDIO SPACES. SILVER ART PROJECTS PROVIDES THE SPACE FREE FOR 10 MONTHS TO ARTISTS, AS WELL AS PROFESSIONAL DEVELOPMENT PROGRAMMING, MENTORSHIP AND SERVICES TO ACCELERATE ARTISTS CAREERS THROUGH NETWORKING OPPORTUNITIES WITH ARTS PROFESSIONALS.

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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 $201,900

Program Service Revenue $0

Investment Income $0

Other Revenue $-38,014

TOTAL REVENUE $163,886

Expense Breakdown

Grants Paid $25,200

Salaries & Benefits $257,226

Fundraising Expenses $27,275

Program Expenses $356,245

Other Expenses $249,737

TOTAL EXPENSES $532,163

Year-over-Year Comparison

	2023	2022	Change
Revenue	$163,886	$256,000	-0.4%
Expenses	$532,163	$564,683	-0.1%
Net Income	$-368,277	$-308,683	+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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TAL KERRET	BOARD MEMBER	2.00	Officer Director	$0	$0	$0
CORY SILVERSTEIN	PRESIDENT	15.00	Officer Director	$0	$0	$0
JEFFREY SCOTT	SECRETARY, TREASURER	2.00	Officer Director	$0	$0	$0
REGINALD BROWNE	DIRECTOR	2.00	Director	$0	$0	$0
RANA FLORIDA	DIRECTOR	2.00	Director	$0	$0	$0
DINO FUSCO	DIRECTOR	4.00	Director	$0	$0	$0
ERIC WIDING	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT J PILON JR	BOARD MEMBER	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	$163,886	$532,163	$289,273	$-368,277
2022	$256,000	$564,683	$416,057	$-308,683
2021	$320,752	$464,348	$633,203	$-143,596
2020	$1,108,832	$370,379	$753,414	$738,453