Spokane Arts Fund (EIN 910998745) - 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

1986

Legal Domicile

Principal Officer

Melissa Huggins

Phone

5093216444

Tax Period

2022-01-01 to 2022-12-31

Spokane Arts Fund, founded in 1986, is a small nonprofit that reported $350K in total revenue in fiscal year 2022. Revenue fell 63% from the prior year — a significant decline worth monitoring. Expenses of $617K exceeded revenue, resulting in a 76% operating deficit.

Mission

To amplify Spokane as the cultural hub and catalyst for the Inland Northwest through arts leadership, advocacy, networking and support.

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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 (2022)

Revenue Breakdown

Contributions & Grants $319,042

Program Service Revenue $10,450

Investment Income $20,344

Other Revenue $0

TOTAL REVENUE $349,836

Expense Breakdown

Grants Paid $132,592

Salaries & Benefits $224,115

Fundraising Expenses $12,211

Program Expenses $588,672

Other Expenses $260,489

TOTAL EXPENSES $617,196

Year-over-Year Comparison

	2022	2021	Change
Revenue	$349,836	$936,614	-0.6%
Expenses	$617,196	$825,792	-0.3%
Net Income	$-267,360	$110,822	-3.4%

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

100

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

$80,700

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Brooke Kiener	Board Chair	5.00	Officer Director	$0	$0	$0
Steven McDonald	Board Member	5.00	Director	$0	$0	$0
Karen Stratton	Board Member	5.00	Director	$0	$0	$0
Garret Daggett	Board Member	5.00	Director	$0	$0	$0
Stephanie Curran	Board Member	5.00	Director	$0	$0	$0
Melody Heaton	Board Member	5.00	Director	$0	$0	$0
Bethany Letcher	Board Member	5.00	Director	$0	$0	$0
Elisabeth Hooker	Board Member	5.00	Director	$0	$0	$0
Melissa Huggins	Executive Director	40.00	Officer	$80,700	$0	$80,700

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
2023	No data	No data	No data	No data
2022	$349,836	$617,196	$39,907	$-267,360
2021	$936,614	$825,792	$298,205	$110,822
2020	$1,200,120	$1,101,848	$222,848	$98,272
2019	$519,625	$591,072	$88,496	$-71,447
2018	$342,313	$395,854	$156,987	$-53,541

Spokane Arts Fund