CORVALLIS ARTS CENTER INC (EIN 936027995) - 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

1961

Legal Domicile

Principal Officer

ERINN GAVAGHAN

Phone

5417541551

Tax Period

2024-07-01 to 2025-06-30

CORVALLIS ARTS CENTER INC, founded in 1961, is a small nonprofit in the Arts, Culture & Humanities sector that reported $856K in total revenue in fiscal year 2024. Revenue surged 22% from the prior year, signaling strong growth momentum. Expenses of $741K left a modest 13% surplus.

Mission

TO INSPIRE CREATIVITY AND CONTRIBUTE TO COMMUNITY WELL-BEING THROUGH EQUITABLE ACCESS TO AND ENGAGEMENT WITH THE VISUAL ARTS.

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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 $797,756

Program Service Revenue $45,470

Investment Income $16,025

Other Revenue $-3,711

TOTAL REVENUE $855,540

Expense Breakdown

Grants Paid $0

Salaries & Benefits $501,222

Fundraising Expenses $97,981

Program Expenses $370,497

Other Expenses $239,652

TOTAL EXPENSES $740,874

Year-over-Year Comparison

	2024	2023	Change
Revenue	$855,540	$703,685	+0.2%
Expenses	$740,874	$653,309	+0.1%
Net Income	$114,666	$50,376	+1.3%

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

590

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

$66,805

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERINN GAVAGHAN	EXECUTIVE DI	40.00	Officer	$35,729	$1,666	$37,395
CYNTHIA SPENCER	EXEC DIR THR	40.00	Officer	$28,553	$857	$29,410
PAT BERMAN	PRESIDENT	4.00	Officer Director	$0	$0	$0
NELL O'MALLEY	VICE PRESIDE	2.00	Officer Director	$0	$0	$0
KEITH FARNEY	TREASURER	3.00	Officer Director	$0	$0	$0
DORIS ROGERS	SECRETARY	1.00	Officer Director	$0	$0	$0
MYRANDA CLARK	DIRECTOR	1.00	Director	$0	$0	$0
CAROLE HOBROCK	DIRECTOR	1.00	Director	$0	$0	$0
ALYCE CHAPMAN	DIRECTOR	1.00	Director	$0	$0	$0
DAVID GOODRUM	DIRECTOR	2.00	Director	$0	$0	$0
DEBORAH JOHN	DIRECTOR	1.00	Director	$0	$0	$0
JEFFREY SCHIMINSKY	DIRECTOR	1.00	Director	$0	$0	$0
KIMBERLY LONG	DIRECTOR	2.00	Director	$0	$0	$0
JAY BAKER	DIRECTOR	2.00	Director	$0	$0	$0
DAWN CARLTON	DIRECTOR	3.00	Director	$0	$0	$0
EVAN SALBEGO	DIRECTOR	2.00	Director	$0	$0	$0
TOM STEELE	DIRECTOR	4.00	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
2025	$855,540	$740,874	$913,571	$114,666
2024	$703,685	$653,309	$727,386	$50,376
2023	$1,247,367	$528,292	$957,376	$719,075
2023	$958,416	$528,049	$668,211	$430,367
2022	$339,156	$352,378	$229,970	$-13,222
2021	$422,108	$371,099	$245,691	$51,009
2020	$380,025	$359,502	$196,468	$20,523
2019	$327,356	$371,855	$183,256	$-44,499
2018	$506,647	$471,251	$215,380	$35,396

CORVALLIS ARTS CENTER INC