PACIFIC NORTHWEST COLLEGE OF 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

1994

Legal Domicile

Principal Officer

DANIEL VALLES

Phone

5038218910

Tax Period

2020-07-01 to 2021-06-30

PACIFIC NORTHWEST COLLEGE OF ART, founded in 1994, is a mid-sized nonprofit that reported $27.3M in total revenue in fiscal year 2020. Revenue decreased 13% compared to the prior year.

Mission

THE MISSION OF PNCA IS TO PREPARE STUDENTS FOR A LIFE OF CREATIVE PRACTICE. THE INTENT IS TO TRANSFORM STUDENTS INTO KNOWLEDGEABLE, ARTICULATE, PRACTICING ARTISTS AND DESIGNERS WITH THE ABILITY TO SIGNIFICANTLY CONTRIBUTE IN ORIGINAL WAYS TO THE ONGOING DIALOGUE IN ART THAT SHAPES OUR CULTURE.

Program Service Accomplishments

Program 1

Expenses: $12,916,888 Revenue: $16,899,089

BACHELOR OF FINE ARTS PROGRAM - PREPARES ABOUT 400 FINE ARTS DEGREE STUDENTS FOR A PROFESSIONAL CAREER AS AN ARTIST OR DESIGNER. THE COLLEGE'S CURRICULUM FOCUSES ON AN INTENSIVE STUDIO EXPERIENCE...

BACHELOR OF FINE ARTS PROGRAM - PREPARES ABOUT 400 FINE ARTS DEGREE STUDENTS FOR A PROFESSIONAL CAREER AS AN ARTIST OR DESIGNER. THE COLLEGE'S CURRICULUM FOCUSES ON AN INTENSIVE STUDIO EXPERIENCE STRESSING STUDENTS' PERSONAL DEVELOPMENT AND BUILDING TECHNICAL COMPETENCE.

Program 2

Expenses: $2,398,175 Revenue: $3,992,856

MASTER OF FINE ARTS PROGRAM - A TWO YEAR PROGRAM THAT IS MULTI-DISCIPLINARY AND MENTOR BASED. THE STRUCTURE COMPLIMENTS PNCA'S EDUCATIONAL PHILOSOPHY OF SUPPORTING INDEPENDENT INQUIRY AND ENCOURAGING CROSS-DISCIPLINARY DIALOGUE. THE STUDENTS BENEFIT FROM A DYNAMIC NATIONAL AND INTERNATIONAL ROSTER OF VISITING ARTISTS AND DESIGNERS. A LOW RESIDENCY MASTER OF FINE ARTS PROGRAM WAS IMPLEMENTED IN 2011-12 AND ALLOWS STUDENTS AN EXTENDED PERIOD OF TIME OF THREE TO FOUR YEARS TO CONDUCT THEIR DEGREE PROGRAM IN VISUAL STUDIES. THE PROGRAM PROVIDES NOT ONLY THE SAME CURRICULAR RIGOR AS THE FULL-TIME PROGRAM, BUT ALSO OFFERS STUDENTS OPPORTUNITIES TO WORK IN THE SUMMER IN A FOCUSED MANNER ON PERFECTION OF THEIR ART USING STUDIO-BASED STUDIES.MASTER OF ARTS PROGRAM - AN ACCELERATED SEMINAR-BASED PROGRAM THAT PREPARES STUDENTS FOR OPPORTUNITIES AT THE INTERSECTION OF ART, THEORY, AND RESEARCH. STUDENTS COMPLETE WORK WITHIN ONE CALENDAR YEAR. THE RIGOROUS PROGRAM IS DESIGNED TO TRAIN STUDENTS IN CRITICAL THEORY, RESEARCH DESIGN AND METHODS, CULTURAL AND INSTITUTIONAL CRITIQUE, AND ETHICS SO STUDENTS DEVELOP SKILLS AND MODES OF THINKING THAT CROSS THE BETWEEN THE VISUAL AND VERBAL, LINEAR AND NONLINEAR, DIGITAL AND ANALOG, AND THEORY AND PRACTICE.

Program 3

Expenses: $310,642 Revenue: $329,274

CONTINUING EDUCATION PROGRAM - PROVIDES CONTINUING EDUCATION AND OUTREACH OPPORTUNITIES FOR THE COLLEGE. OFFERING EVENING AND WEEKEND COURSES IN ART AND DESIGN FOR AGES 4 THROUGH SENIOR CITIZEN. THE CONTINUING EDUCATION PROGRAM MAKES AVAILABLE HIGH-QUALITY ART EDUCATIONTO THE PUBLIC OF PORTLAND AND SURROUNDING AREAS.

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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 (2020)

Revenue Breakdown

Contributions & Grants $3,841,959

Program Service Revenue $22,681,532

Investment Income $670,705

Other Revenue $80,694

TOTAL REVENUE $27,274,890

Expense Breakdown

Grants Paid $11,467,509

Salaries & Benefits $9,233,156

Fundraising Expenses $678,122

Program Expenses $23,980,342

Other Expenses $8,243,132

TOTAL EXPENSES $28,943,797

Year-over-Year Comparison

	2020	2019	Change
Revenue	$27,274,890	$31,232,662	-0.1%
Expenses	$28,943,797	$31,377,195	-0.1%
Net Income	$-1,668,907	$-144,533	+10.5%

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

461

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

$869,560

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANNE GALLAGHER	CFO AND COO	40.00	Officer	$157,775	$2,325	$160,100
CANDACE HORTER	VP OF ADVANCEMENT	40.00	Officer	$152,820	$5,425	$158,245
CHRISTOPHER MAPLES	PRESIDENT	40.00	Officer	$143,152	$3,000	$146,152
DARBY KNOX	CHIEF ADVANCEMENT OFFICER	40.00	Officer	$118,318	$4,200	$122,518
JASON REDCEDAR	CHIEF INFORMATION OFFICER	40.00	Officer	$116,750	$2,918	$119,668
KATE COPELAND	CHIEF ACADEMIC OFFICER	40.00	Officer	$108,672	$4,200	$112,872
DAVID ELLIS	INTERIM PRESIDENT	40.00	Officer	$50,005	$0	$50,005
SCOTT MUSCH	CHAIR	2.00	Officer Director	$0	$0	$0
ELOISE DAMROSCH	VICE CHAIR	2.00	Officer Director	$0	$0	$0
NICHOLAS EHLEN	TREASURER	2.00	Officer Director	$0	$0	$0
JOHN BISHOP	SECRETARY	2.00	Officer Director	$0	$0	$0
ANTHONY BELLUSCHI	GOVERNOR	1.00	Director	$0	$0	$0
KAY CAMPBELL	GOVERNOR	1.00	Director	$0	$0	$0
BILL FOSTER	GOVERNOR	1.00	Director	$0	$0	$0
JASON HALSTEAD	GOVERNOR	1.00	Director	$0	$0	$0
MARIAM HIGGINS	GOVERNOR	1.00	Director	$0	$0	$0
LINDA HUTCHINGS	GOVERNOR	1.00	Director	$0	$0	$0
ZELTKA CAROL KEKEZ	GOVERNOR	1.00	Director	$0	$0	$0
NOLAN LIENHART	GOVERNOR	1.00	Director	$0	$0	$0
DAVID SAVINAR	GOVERNOR	1.00	Director	$0	$0	$0
AL SOLHEIM	GOVERNOR	1.00	Director	$0	$0	$0
LAUREN STUMPF	GOVERNOR	1.00	Director	$0	$0	$0
VANESSA TRIPLETT	GOVERNOR	1.00	Director	$0	$0	$0
SHERRIE WOLF	GOVERNOR	1.00	Director	$0	$0	$0
MK GUTH	GOVERNOR, EX-OFFICIO	1.00	Director	$0	$0	$0
SCOTT NIERADKA	GOVERNOR, EX-OFFICIO	1.00	Director	$0	$0	$0
SALLY SCHOOLMASTER	GOVERNOR, EX-OFFICIO	1.00	Director	$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
2021	$27,274,890	$28,943,797	No data	$-1,668,907
2020	$31,232,662	$31,377,195	$34,236,128	$-144,533
2019	$25,195,148	$29,221,223	$34,176,556	$-4,026,075
2018	$23,401,881	$27,616,478	$36,825,718	$-4,214,597