TURTLE CREEK VALLEY ARTS CORPORATION (EIN 862064976) - 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

2021

Legal Domicile

Principal Officer

GREG JAKUB

Phone

4126461718

Tax Period

2023-07-01 to 2024-06-30

TURTLE CREEK VALLEY ARTS CORPORATION, founded in 2021, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.7M in total revenue in fiscal year 2023. Revenue decreased 11% compared to the prior year. Expenses of $2.1M exceeded revenue, resulting in a 24% operating deficit.

Mission

THE CORPORATION SHALL UNDERTAKE SUCH ACTS AS IT DEEMS NECESSARY TO OPERATE A PERFORMING AND CREATIVE ARTS CENTER, TO PROMOTE ARTS AND CULTURAL EDUCATION IN THE COMMUNITY, TO ENCOURAGE, DEVELOP, AND TO MAINTAIN PROGRAMS AND PROPERTY, BOTH REAL AND PERSONAL, FOR THE BENEFIT OF CORPORATION AND FOR THE EDUCATION AND DEVELOPMENT OF THE 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 $4,050

Program Service Revenue $1,631,304

Investment Income $72,240

Other Revenue $375

TOTAL REVENUE $1,707,969

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,966,229

Other Expenses $2,115,583

TOTAL EXPENSES $2,115,583

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,707,969	$1,917,047	-0.1%
Expenses	$2,115,583	$2,406,960	-0.1%
Net Income	$-407,614	$-489,913	-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

N/A

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

$208,438

Total Directors

$208,438

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD FOSBRINK	PRESIDENT (END 10/23)	5.00	Officer Director	$0	$18,954	$130,607
GREG JAKUB	PRESIDENT	5.00	Officer Director	$0	$0	$0
GREG BEAL	TREASURER	1.00	Officer Director	$0	$9,081	$77,831
SUSAN MAKARINEC	SECRETARY (TERM ENDED)	1.00	Director	$0	$0	$0
LISA HOFFMAN	DIRECTOR (TERM ENDED)	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
2025	No data	No data	No data	No data
2024	$1,707,969	$2,115,583	$14,078,135	$-407,614
2023	$1,637,292	$730,427	$49,795,148	$906,865
2022	$634,067	$912,658	$34,412,406	$-278,591

TURTLE CREEK VALLEY ARTS CORPORATION