LA ROMITA SCHOOL OF ART INC (EIN 850324327) - 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

1966

Legal Domicile

Principal Officer

Alessandro Quargnali-Linsley

Phone

2023373120

Tax Period

2024-01-01 to 2024-12-31

LA ROMITA SCHOOL OF ART INC, founded in 1966, is a small nonprofit that reported $327K in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

PROMOTE CROSS-CULTURAL AND EDUCATIONAL EXCHANGE BY PROVIDING ART INSTRUCTION AND APPRECIATION TO ART STUDENTS, ARTISTS AND ART ENTHUSIASTS IN ITALY, AND PROVIDING INSTRUCTION IN OTHER CREATIVE MEDIA SUCH AS THE WRITING ARTS, THEATRE ARTS, PHOTOGRAPHY AND MUSIC.

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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 (2024)

Revenue Breakdown

Contributions & Grants $14,617

Program Service Revenue $311,135

Investment Income $0

Other Revenue $1,424

TOTAL REVENUE $327,176

Expense Breakdown

Grants Paid $0

Salaries & Benefits $127,884

Fundraising Expenses $0

Program Expenses $315,267

Other Expenses $231,388

TOTAL EXPENSES $359,272

Year-over-Year Comparison

	2024	2023	Change
Revenue	$327,176	$296,591	+0.1%
Expenses	$359,272	$346,062	+0.0%
Net Income	$-32,096	$-49,471	-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

$53,076

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Edmund Zimmerman	Executive Director	40	Key Emp Highest	$53,076	$0	$53,076
Suzi Davidoff	Director	2	Director	$0	$0	$0
Laurie Doctor	Director	2	Director	$0	$0	$0
Lars Benson	Director	10	Director	$0	$0	$0
Harold Benson	President	2	Officer	$0	$0	$0
Alessandro Quargnali-Linsley	Vice President	25	Officer	$0	$0	$0
Mike Wenger	Secretary	5	Officer	$0	$0	$0
Alex Padgett	Treasurer	5	Officer	$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	$327,176	$359,272	$203,296	$-32,096
2023	$296,591	$346,062	$116,838	$-49,471
2022	$263,631	$258,406	$104,619	$5,225
2019	$379,917	$379,177	$155,209	$740
2018	$282,256	$318,978	$158,686	$-36,722

LA ROMITA SCHOOL OF ART INC