PALACE OF FINE ARTS LEAGUE (EIN 941451545) - 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

1958

Legal Domicile

Principal Officer

MICHAEL LUCKOFF

Phone

4155636504

Tax Period

2023-01-01 to 2023-12-31

PALACE OF FINE ARTS LEAGUE, founded in 1958, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.1M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. Expenses of $1.9M left a modest 8% surplus.

Mission

OPERATION OF CITY-OWNED THEATRE

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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 $1,000

Program Service Revenue $2,030,659

Investment Income $11,027

Other Revenue $57,714

TOTAL REVENUE $2,100,400

Expense Breakdown

Grants Paid $4,279

Salaries & Benefits $1,295,087

Fundraising Expenses $0

Program Expenses $1,703,896

Other Expenses $633,438

TOTAL EXPENSES $1,932,804

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,100,400	$2,334,855	-0.1%
Expenses	$1,932,804	$1,842,980	+0.0%
Net Income	$167,596	$491,875	-0.7%

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

205

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL LUCKOFF	PRESIDENT	4.00	Officer Director	$0	$0	$0
BRUNO COHEN	TREASURER	1.00	Officer Director	$0	$0	$0
RICHARD CARPENETI	DIRECTOR	1.00	Director	$0	$0	$0
FX CROWLEY	DIRECTOR	1.00	Director	$0	$0	$0
JAMES LAZARUS	DIRECTOR	1.00	Director	$0	$0	$0
NICOLE PRIETO	DIRECTOR	1.00	Director	$0	$0	$0
HARVEY STONE	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES ZUKOW	DIRECTOR	1.00	Director	$0	$0	$0
JOHN ROTHMAN	DIRECTOR	1.00	Director	$0	$0	$0
JULIA BROMLEY	DIRECTOR	1.00	Director	$0	$0	$0
JUDE HELLER	DIRECTOR	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
2024	No data	No data	No data	No data
2023	$2,100,400	$1,932,804	$2,061,258	$167,596
2022	$2,334,855	$1,842,980	$1,974,890	$491,875
2021	$1,315,071	$973,406	$1,923,787	$341,665
2020	$681,831	$837,280	$1,074,988	$-155,449
2019	$1,805,518	$1,814,033	$1,262,174	$-8,515
2018	$1,983,489	$1,727,905	$1,251,482	$255,584

PALACE OF FINE ARTS LEAGUE