FREEDMAN ARTS DISTRICT INC (EIN 882601196) - 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

2022

Legal Domicile

Principal Officer

RIchard Stewart

Phone

8435219000

Tax Period

2025-01-01 to 2025-12-31

FREEDMAN ARTS DISTRICT INC, founded in 2022, is a small nonprofit in the Arts, Culture & Humanities sector that reported $145K in total revenue in fiscal year 2025. Revenue fell 31% from the prior year — a significant decline worth monitoring. Expenses of $162K exceeded revenue, resulting in a 12% operating deficit.

Mission

The Freedman Arts District is committed to nurturing a thriving arts community by providing support to local artists and engaging with art enthusiasts within the district. This support includes customized outreach initiatives and strategic marketing efforts to showcase the creative talent in the area. With the help of community leaders, businesses, vendors and donors, the Freedman Arts District also works with property owners to renovate these structures, saving vital pieces of history when possible and assisting in removal and new construction when renovation is not a viable option. This cooperative work restores the fabric of the community while encouraging ownership to stay within the families.

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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 (2025)

Revenue Breakdown

Contributions & Grants $144,727

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $144,727

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $1,320

Program Expenses $122,196

Other Expenses $160,209

TOTAL EXPENSES $161,529

Year-over-Year Comparison

	2025	2024	Change
Revenue	$144,727	$210,820	-0.3%
Expenses	$161,529	$102,045	+0.6%
Net Income	$-16,802	$108,775	-1.2%

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

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
Cherimie Weatherford	Executive Director	40.00	Officer	$0	$0	$0
Richard Stewart	Chairman	15.00	Officer	$0	$0	$0
William Quarles	CFO/Treasurer	15.00	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
2025	$144,727	$161,529	$1,585,913	$-16,802
2024	No data	No data	No data	No data
2023	$87,871	$83,325	$1,436,682	$4,546

FREEDMAN ARTS DISTRICT INC