CENTER ON CONTEMPORARY ART

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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

1980

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

CENTER ON CONTEMPORARY ART, founded in 1980, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $95K in total revenue in fiscal year 2023. Revenue fell 35% from the prior year — a significant decline worth monitoring. Expenses of $83K left a modest 12% surplus.

Mission

COCA SERVES THE REGION AS A CATALYST AND FORUM FOR THE ADVANCEMENT, DEVELOPMENT, AND UNDERSTANDING OF CONTEMPORARY ART. AS A VITAL AND LONGTIME PART OF THE ARTS COMMUNITY, COCA OPERATES GALLERIES, SUPPORTS EMERGING ARTISTS, AND PRODUCES EVENTS THAT BENEFIT OUR AREA.

Program Service Accomplishments

Program 1

Expenses: $33,735 Revenue: $1,929

IN 2022 CENTER ON CONTEMPORARY ART (COCA) HOSTED MONTHLY SHOWS WITH LOCAL ARTISTS. COCA PARTICIPATED IN THE MONTHLY SEATTLE ARTWALK.

Program 2

Expenses: $12,545

MISCELLNEOUS PROGRAM ACTIVITES.

Program 3

Expenses: $7,921 Revenue: $17,668

COCA PUBLISHED NEW MATERIAL IN THE FORM OF A BOOK DEALING WITH RACIAL HISTORY. ALSO SOLD A SUBSTANTIAL AMOUNT OF ITS CATALOG TO THE SEATTLE PUBLIC LIBRARY TO ENSURE ONGOING AND FUTURE ACCESS TO ITS MATERIAL FOR THE GENERAL PUBLIC. THIS ALSO EXPOSES AND PROMOTES THE LOCAL ARTISTS FEATURED IN THE PUBLICATIONS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $75,770

Program Service Revenue $18,344

Investment Income $0

Other Revenue $625

TOTAL REVENUE $94,739

Expense Breakdown

Grants Paid $0

Salaries & Benefits $29,158

Fundraising Expenses $8,423

Program Expenses $54,201

Other Expenses $53,895

TOTAL EXPENSES $83,053

Year-over-Year Comparison

	2023	2022	Change
Revenue	$94,739	$146,800	-0.4%
Expenses	$83,053	$195,084	-0.6%
Net Income	$11,686	$-48,284	-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

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
JAMIE BOLLENBACH	DIRECTOR	2.00	Director	$0	$0	$0
DAVID FRANCIS	DIRECTOR	2.00	Director	$0	$0	$0
REO HORNIBROOK	DIRECTOR	2.00	Director	$0	$0	$0
KALINDI KUNIS	DIRECTOR	2.00	Director	$0	$0	$0
PETER BILL	BOARD CHAIR	2.00	Director	$0	$0	$0
ALEX SANDVOSS	SECRETARY	2.00	Director	$0	$0	$0
RAY FREEMAN	PRESIDENT	5.00	Officer	$0	$0	$0
L KELLY LYLES	VICE PRESIDENT	2.00	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
2023	$94,739	$83,053	$22,223	$11,686
2022	$146,800	$195,084	$12,039	$-48,284
2021	$138,361	$171,778	$59,966	$-33,417
2020	$149,266	$179,068	$107,878	$-29,802
2019	$211,510	$187,972	$120,518	$23,538
2018	$208,710	$175,245	$113,089	$33,465