SPOKANE ARTS FUND

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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

2024-01-01 to 2024-12-31

SPOKANE ARTS FUND, founded in 1986, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2024. Revenue fell 21% from the prior year — a significant decline worth monitoring. Expenses of $1.3M exceeded revenue, resulting in a 15% operating deficit.

Mission

TO AMPLIFY SPOKANE AS THE CULTURAL HUB AND CATALYST FOR THE INLAND NORTHWEST THROUGH ARTS LEADERSHIP, ADVOCACY, NETWORKING AND SUPPORT.

Program Service Accomplishments

Program 1

Expenses: $1,285,965 Revenue: $138,469

SPOKANE ARTS FUND WORKS TO BE A UNIFYING VOICE FOR THE ARTS, BUILD APPRECIATION AND UNDERSTANDING OF THE VALUE OF THE ARTS, AND CULTIVATE SUCCESS OF ARTISTS AND ART ORGANIZATIONS. IT WORKS TO SUPPORT ARTS IN PUBLIC PLACES AND RESEARCH THE HISTORY OF RIVERFRONT PARK AND CREATE INTERPRETATIVE SIGNAGE.

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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 $1,005,123

Program Service Revenue $138,469

Investment Income $0

Other Revenue $5,228

TOTAL REVENUE $1,148,820

Expense Breakdown

Grants Paid $636,739

Salaries & Benefits $307,254

Fundraising Expenses $17,978

Program Expenses $1,285,965

Other Expenses $382,431

TOTAL EXPENSES $1,326,424

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,148,820	$1,457,357	-0.2%
Expenses	$1,326,424	$1,196,577	+0.1%
Net Income	$-177,604	$260,780	-1.7%

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

Total Directors

$180,722

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	4.00	Director	$0	$0	$0
KAREN STRATTON	BOARD MEMBER	4.00	Director	$0	$0	$0
GARRET DAGGETT	BOARD MEMBER	4.00	Director	$0	$0	$0
STEPHANIE CURRAN	BOARD MEMBER	4.00	Director	$0	$0	$0
MELODY HEATON	BOARD MEMBER	4.00	Director	$0	$0	$0
BETHANY LETCHER	BOARD MEMBER	4.00	Director	$0	$0	$0
ELISABETH HOOKER	BOARD MEMBER	5.00	Director	$0	$0	$0
SHELLY WYNECOOP	DIRECTOR OF GRANTMAKING	5.00	Director	$83,620	$0	$83,620
SHANTELL JACKSON	DIRECTOR OF PROGRAMING	5.00	Director	$36,289	$0	$36,289
SHELBY ALLISON	ASPHALT ARTS MANAGER	5.00	Director	$60,813	$0	$60,813
KERRI DANOWSKI	OPERATIONS & MARKETING MANAGER	5.00	Director	$0	$0	$0
MELISSA HUGGINS	EXECUTIVE DIRECTOR	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	$1,148,820	$1,326,424	$89,328	$-177,604
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