SALEM ART ASSOCIATION ENDOWMENT FOUNDATION (EIN 930718331) - 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

1977

Legal Domicile

Principal Officer

GARY W HARDEY

Phone

5035812228

Tax Period

2023-01-01 to 2023-12-31

SALEM ART ASSOCIATION ENDOWMENT FOUNDATION, founded in 1977, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $49K in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $75K exceeded revenue, resulting in a 53% operating deficit.

Mission

TO PROMOTE AND FURTHER THE DEVELOPMENT OF THE SALEM ART ASSOCIATION; TO RECEIVE AND ADMINISTER FUNDS FOR CHARITABLE, SCIENTIFIC AND EDUCATIONAL ACTIVITIES FOR THE BENEFIT OF THE SALEM ART ASSOCIATION; TO PROVIDE FUNDS FOR LECTURES, SPEECHES, SEMINARS, CONFERENCES, RESEARCH, AND EDUCATION PROGRAMS, SURVEYS, INVESTIGATIONS AND OTHER ACTIVITIES FOR THE EDUCATION, ENJOYMENT, AND BENEFIT OF THE SALEM ART ASSOCIATION AND GENERAL PUBLIC.

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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 $12,700

Program Service Revenue $0

Investment Income $36,589

Other Revenue $0

TOTAL REVENUE $49,289

Expense Breakdown

Grants Paid $55,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $55,000

Other Expenses $20,235

TOTAL EXPENSES $75,235

Year-over-Year Comparison

	2023	2022	Change
Revenue	$49,289	$40,728	+0.2%
Expenses	$75,235	$46,155	+0.6%
Net Income	$-25,946	$-5,427	+3.8%

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

N/A

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

$54,283

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JON LAUER	PRESIDENT	0.25	Officer Director	$0	$0	$0
GARY HARDEY	TREASURER	0.25	Officer Director	$0	$0	$0
JANET NEUBURG	SECRETARY	0.25	Officer Director	$0	$0	$0
RON RUBEL	DIRECTOR	0.25	Director	$0	$0	$0
ERICA PUOPOLO	DIRECTOR	0.25	Director	$0	$0	$0
ERNESTO TOSKVIC FROM 1223	DIRECTOR	0.25	Director	$0	$0	$0
KATHRYN PAWLICK FROM 1223	DIRECTOR	0.25	Director	$0	$0	$0
EMILY ALIMONOS FROM 1223	DIRECTOR	0.25	Director	$0	$0	$0
MATTHEW BOULAY	EXECUTIVE DIRECTOR	2.50	Officer	$0	$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	$49,289	$75,235	$833,642	$-25,946
2022	$40,728	$46,155	$842,356	$-5,427
2021	$80,611	$66,345	$968,121	$14,266
2020	$23,310	$69,536	$853,450	$-46,226
2019	$43,500	$66,153	$902,281	$-22,653
2018	$90,851	$67,641	$821,633	$23,210

SALEM ART ASSOCIATION ENDOWMENT FOUNDATION