SALEM ART ASSOCIATION (EIN 930421613) - 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

1938

Legal Domicile

Principal Officer

MATTHEW BOULAY

Phone

5035812228

Tax Period

2023-01-01 to 2023-12-31

SALEM ART ASSOCIATION, founded in 1938, is a small nonprofit in the Arts, Culture & Humanities sector that reported $994K in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year. Expenses of $1.2M exceeded revenue, resulting in a 23% operating deficit.

Mission

HARNESSING THE POWER OF THE ARTS TO EXPAND CREATIVITY, IMPROVE LIVES, AND FOSTER A MORE VIBRANT AND CONNECTED COMMUNITY.

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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 $652,465

Program Service Revenue $295,943

Investment Income $6,065

Other Revenue $39,209

TOTAL REVENUE $993,682

Expense Breakdown

Grants Paid $0

Salaries & Benefits $540,169

Fundraising Expenses $154,971

Program Expenses $955,324

Other Expenses $684,524

TOTAL EXPENSES $1,224,693

Year-over-Year Comparison

	2023	2022	Change
Revenue	$993,682	$1,127,465	-0.1%
Expenses	$1,224,693	$1,012,128	+0.2%
Net Income	$-231,011	$115,337	-3.0%

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

730

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

$54,283

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RYAN PASQUARELLA	TREASURER (UNTIL 12/23)	1.00	Officer Director	$0	$0	$0
JANET NEUBURG	DIRECTOR	1.00	Director	$0	$0	$0
JESSICA RAMEY	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
LAURA TESLER	PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
SANDRA HERNANDEZ-LOMELI	DIRECTOR	1.00	Director	$0	$0	$0
EVELYN BRIONES SANCHEZ	DIRECTOR	1.00	Director	$0	$0	$0
RON RUBEL	DIRECTOR	1.00	Director	$0	$0	$0
LISA HARNISCH	PRESIDENT	1.00	Officer Director	$0	$0	$0
KATHRYN PAWLICK	DIRECTOR	1.00	Director	$0	$0	$0
ERICA PUOPOLO	DIRECTOR	1.00	Director	$0	$0	$0
EMILY ALIMONOS	TREASURER (SINCE 12/23)	1.00	Officer Director	$0	$0	$0
MATTHEW BOULAY	EXECUTIVE DIRECTOR	20.00	Officer	$54,283	$0	$54,283

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	No data	No data	No data	No data
2023	$993,682	$1,224,693	$573,921	$-231,011
2022	$1,127,465	$1,012,128	$710,556	$115,337
2021	$459,105	$609,029	$561,662	$-149,924
2020	$599,563	$557,398	$726,674	$42,165
2019	$854,206	$854,264	$712,424	$-58
2018	$854,245	$877,192	$720,599	$-22,947

SALEM ART ASSOCIATION