HEARTLAND PERFORMING ARTS 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

Formation Year

2022

Legal Domicile

Principal Officer

ERIC OLMSCHEID

Phone

7086287877

Tax Period

2024-01-01 to 2024-12-31

HEARTLAND PERFORMING ARTS INC, founded in 2022, is a small nonprofit in the Arts, Culture & Humanities sector that reported $629K in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year.

Mission

HEARTLAND PERFORMING ARTS IS A NONPROFIT ORGANIZATION WHICH BRINGS TOGETHER ARTS PROFESSIONALS TO ENCOURAGE INNOVATION, CREATE EDUCATIONAL OPPORTUNITIES, STRENGTHEN ARTIST TOURING RELATIONSHIPS, AND SUPPORT ARTS ADVOCACY THROUGHOUT THE CENTRAL UNITED STATES. THE ORGANIZATION WAS FOUNDED BY AGENTS, ARTISTS, AND STATE CONSORTIA LEADERS FROM ILLINOIS, INDIANA, IOWA, MICHIGAN, MINNESOTA, OHIO, PLAINS PRESENTERS, SOUTHWEST PRESENTERS, AND WISCONSIN.

Program Service Accomplishments

Program 1

Expenses: $637,153 Revenue: $622,469

THE MIDWEST ARTS XPO 2024 WAS HELD IN INDIANAPOLIS, IN AND WILL TAKE PLACE IN MILWAUKEE, WISCONSIN IN SEPTEMBER, 2025. THE XPO PROVIDES PROFESSIONAL DEVELOPMENT, INTERGENERATIONAL MENTORSHIP FOR NEW COLLEAGUES, OPPORTUNITIES TO SEE WORKS OF ALL GENRES AND PROVIDES NETWORKING OPPORTUNITIES TO CONNECT ARTISTS, AGENTS, AND ARTS ORGANIZATIONS IN BOTH FORMAL AND INFORMAL SETTINGS. BUILDING ON THE SUCCESS OF MAX 2023 AND 2024, THE 2025 XPO PROMISES TO CONTINUE THE MOMENTUM, CREATING AN OPTIMUM ENVIRONMENT TO CONNECT AND EXPLORE. PROFESSIONAL DEVELOPMENT OFFERINGS WILL BE EXPANDED IN 2025. MAX 2024 BY THE NUMBERS: O 753 TOTAL ATTENDEES FROM 34 STATES, CANADA, AND FRANCE. O 29 PROFESSIONAL DEVELOPMENT SESSIONS O 222 EXHIBITOR BOOTHS IN THE EXHIBIT HALL MARKETPLACE O 202 PRESENTING ORGANIZATIONS REPRESENTED AT MAX O 250+ SHOWCASES TOOK PLACE OVER THREE NIGHTS

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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 $6,860

Program Service Revenue $622,469

Investment Income $8

Other Revenue $0

TOTAL REVENUE $629,337

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $637,153

Other Expenses $645,543

TOTAL EXPENSES $645,543

Year-over-Year Comparison

	2024	2023	Change
Revenue	$629,337	$672,700	-0.1%
Expenses	$645,543	$619,490	+0.0%
Net Income	$-16,206	$53,210	-1.3%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SARA BARASCH	SECRETARY	5.00	Officer Director	$0	$0	$0
WILLIAM BLAGG	BOARD MEMBER	5.00	Director	$0	$0	$0
GAIL BOYD	BOARD MEMBER	2.00	Director	$0	$0	$0
LAUREL CANAN	TREASURER	10.00	Officer Director	$0	$0	$0
TIANNA CONWAY	VICE PRESIDE	10.00	Officer Director	$0	$0	$0
SHANTEL DOW	BOARD MEMBER	2.00	Director	$0	$0	$0
JARED DUYMOVIC	BOARD MEMBER	5.00	Director	$0	$0	$0
THOMAS HENSEL	BOARD MEMBER	10.00	Director	$0	$0	$0
KEVIN HORTON	BOARD MEMBER	2.00	Director	$0	$0	$0
KERITH IVERSON	BOARD MEMBER	2.00	Director	$0	$0	$0
DERRICK MCBRIDE	BOARD MEMBER	5.00	Director	$0	$0	$0
SARAH MCCARTHY	BOARD MEMBER	2.00	Director	$0	$0	$0
GARY MINYARD	BOARD MEMBER	2.00	Director	$0	$0	$0
ERIC OLMSCHEID	PRESIDENT	5.00	Officer Director	$0	$0	$0
LISA ROCK	BOARD MEMBER	5.00	Director	$0	$0	$0
JENNIFER ROSS	TREASURER	2.00	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
2024	$629,337	$645,543	$70,628	$-16,206
2023	$672,700	$619,490	$77,213	$53,210