LIFE ON ART (EIN 873805682) - 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

KRISTIN NELSON

Phone

7077805440

Tax Period

2024-01-01 to 2024-12-31

LIFE ON ART, founded in 2021, is a small nonprofit in the Arts, Culture & Humanities sector that reported $126K in total revenue in fiscal year 2024. Revenue fell 94% from the prior year — a significant decline worth monitoring. Expenses of $1.1M exceeded revenue, resulting in a 767% operating deficit.

Mission

LIFE ON ART UNITES PEOPLE FROM DIVERSE COMMUNITIES TO CO-CREATE HANDMADE LARGE SCALE INTERACTIVE ART AS A PLATFORM FOR SOCIAL ACTION AND HEALING.

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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 $81,710

Program Service Revenue $5,304

Investment Income $38,731

Other Revenue $0

TOTAL REVENUE $125,745

Expense Breakdown

Grants Paid $0

Salaries & Benefits $449,667

Fundraising Expenses $22,930

Program Expenses $831,875

Other Expenses $640,278

TOTAL EXPENSES $1,089,945

Year-over-Year Comparison

	2024	2023	Change
Revenue	$125,745	$2,135,319	-0.9%
Expenses	$1,089,945	$1,175,569	-0.1%
Net Income	$-964,200	$959,750	-2.0%

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

$76,154

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TRACY FERRON	BOARD CHAIR	30.00	Officer Director	$0	$0	$0
MARK FERRON	TREASURER / CFO	30.00	Officer Director	$0	$0	$0
CARROLL YANDELL	SECRETARY	1.00	Officer Director	$0	$0	$0
CATHERINE AINSWORTH	BOARD MEMBER	1.00	Director	$0	$0	$0
GLENDA CORNING	BOARD MEMBER	1.00	Director	$0	$0	$0
EMILY SCOTT	BOARD MEMBER	1.00	Director	$0	$0	$0
KRISTIN NELSON	EXECUTIVE DIRECTOR (START 7/2024)	40.00	Officer	$76,154	$0	$76,154
KATRINA STEFFEK	INT EXEC DIRECTOR (THROUGH 7/2024)	40.00	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	$125,745	$1,089,945	$1,153,024	$-964,200
2023	$2,135,319	$1,175,569	$2,240,775	$959,750
2022	$62,733	$871,193	$874,188	$-808,460
2021	$1,500,103	$18	$1,500,085	$1,500,085

LIFE ON ART