CORITA ART CENTER INC (EIN 922059412) - 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

2023

Legal Domicile

Principal Officer

NELLIE SCOTT

Phone

3234504650

Tax Period

2024-01-01 to 2024-12-31

CORITA ART CENTER INC, founded in 2023, is a small nonprofit in the Arts, Culture & Humanities sector that reported $664K in total revenue in fiscal year 2024. Revenue fell 87% from the prior year — a significant decline worth monitoring. Expenses of $871K exceeded revenue, resulting in a 31% operating deficit.

Mission

Founded in 1997, Corita Art Center, an affiliate of the Immaculate Heart Community, preserves and promotes Corita Kents art, teaching, and passion for social justice. Today, Corita Art Center supports exhibition loans and public programs, oversees image and merchandising rights, sells Coritas original prints, and serves as a resource and archive on her life and work.

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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 $493,992

Program Service Revenue $0

Investment Income $186,978

Other Revenue $-16,558

TOTAL REVENUE $664,412

Expense Breakdown

Grants Paid $0

Salaries & Benefits $437,421

Fundraising Expenses $135,760

Program Expenses $398,172

Other Expenses $433,098

TOTAL EXPENSES $870,519

Year-over-Year Comparison

	2024	2023	Change
Revenue	$664,412	$5,003,945	-0.9%
Expenses	$870,519	$412,628	+1.1%
Net Income	$-206,107	$4,591,317	-1.0%

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

$121,275

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NELLIE SCOTT	Executive Dir.	40.00	Officer	$121,275	$0	$121,275
SHEHARAZAD FLEMING	Chairman	4.00	Officer	$0	$0	$0
TOM KENNEDY	VICE CHAIR	4.00	Officer	$0	$0	$0
JULIETTE BELLOCQ	Secretary	4.00	Officer	$0	$0	$0
ERROL GERSON	Treasurer	4.00	Officer	$0	$0	$0
BEN BARRY	OFFICER	4.00	Officer	$0	$0	$0
LAURIE DOWLING	OFFICER	4.00	Officer	$0	$0	$0
RICK GRIFFITH	OFFICER	4.00	Officer	$0	$0	$0
JEAN SCOTT	OFFICER	4.00	Officer	$0	$0	$0
ROD STEPHENS	OFFICER	4.00	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	$664,412	$870,519	$4,722,430	$-206,107
2023	$5,003,945	$412,628	$5,006,047	$4,591,317
2023	$1,247,751	$415,454	$845,409	$832,297

CORITA ART CENTER INC