ART'S HOUSE SCHOOLS 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

Legal Domicile

Principal Officer

SOPHIA HARRISON

Phone

7189962000

Tax Period

2023-09-01 to 2024-08-31

ART'S HOUSE SCHOOLS INC is a small nonprofit in the Arts, Culture & Humanities sector that reported $310K in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. Expenses of $385K exceeded revenue, resulting in a 24% operating deficit.

Mission

ART'S HOUSE SCHOOLS' (AHS) MISSION IS TO PROVIDE CULTURE IN THE HUMANITIES FOR CHILDREN IN CONEY ISLAND WHILE PROVIDING THEM WITH THE OPPORTUNITY TO BUILD SELF-ESTEEM, SELF-CONFIDENCE AND DEVELOP POISE, GRACE, AND BALANCE. AHS IS A UNIQUE INSTITUTION IN THE CONEY ISLAND COMMUNITY AND ONE OF ITS LONGEST-STANDING CBOS FOR CHILDREN. IT PROVIDES FORMAL MUSIC, DANCE, AND ART TRAINING AND INSTRUCTION TO CHILDREN, 3-17, YEAR-ROUND DURING AFTER SCHOOL AND OUT OF SCHOOL

Program Service Accomplishments

Program 1

Expenses: $323,570

CURRENTLY, AHS HAS OVER 120 ON AND OFF-SITE STUDENTS, INCLUDING THOSE VIA DCLA'S CASA PROGRAM. WHILE MOST OF OUR STUDENTS ARE RESIDENTS OF CONEY ISLAND, A SMALL PERCENTAGE OF STUDENTS RESIDE...

CURRENTLY, AHS HAS OVER 120 ON AND OFF-SITE STUDENTS, INCLUDING THOSE VIA DCLA'S CASA PROGRAM. WHILE MOST OF OUR STUDENTS ARE RESIDENTS OF CONEY ISLAND, A SMALL PERCENTAGE OF STUDENTS RESIDE THROUGHOUT BROOKLYN. ABOUT FIFTY PERCENT OF OUR CONEY ISLAND STUDENTS RECEIVE SCHOLARSHIPS BASED ON FINANCIAL NEED, MERIT, AND COMMUNITY LEADER'S RECOMMENDATIONS (D.O.T.S.).

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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 $193,343

Program Service Revenue $116,594

Investment Income $4

Other Revenue $0

TOTAL REVENUE $309,941

Expense Breakdown

Grants Paid $0

Salaries & Benefits $174,311

Fundraising Expenses $0

Program Expenses $323,570

Other Expenses $210,799

TOTAL EXPENSES $385,110

Year-over-Year Comparison

	2023	2022	Change
Revenue	$309,941	$345,814	-0.1%
Expenses	$385,110	$324,424	+0.2%
Net Income	$-75,169	$21,390	-4.5%

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

N/A

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
ELENA WILSON	BOARD CHAIRP	N/A	Officer	$0	$0	$0
CALAINE HEMANS-HENRY	VICE CHAIRPE	N/A	Officer	$0	$0	$0
REGINA MITCHELL	BOARD MEMBER	N/A	Director	$0	$0	$0
ZOLA HARRISON-CODNER	BOARD MEMBER	N/A	Director	$0	$0	$0
CANDACE DUNBAR SCOTT	BOARD SECRET	N/A	Officer	$0	$0	$0
SOPHIA HARRISON	EXEC. DIRECT	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
2025	No data	No data	No data	No data
2024	$309,941	$385,110	$27,772	$-75,169
2024	$299,492	$364,087	$33,119	$-64,595
2023	$345,814	$324,424	$98,183	$21,390
2022	$396,485	$299,197	$75,211	$97,288
2022	$350,899	$300,460	$78,119	$50,439
2021	$228,230	$228,230	$388	No data
2019	$242,498	$242,583	$686	$-85