ARTSPACE

EIN: 942772520 501(c)(3)

SALT LAKE CITY, UT

Total Revenue
$5,907,294
Total Expenses
$6,051,741
Total Assets
$31,496,945
Net Assets
$20,155,276
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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
1980
Legal Domicile
UT
Principal Officer
JESSICA NORIE
Phone
8013550538
Tax Period
2024-01-01 to 2024-12-31

ARTSPACE, founded in 1980, is a community nonprofit that reported $5.9M in total revenue in fiscal year 2024. Net assets of $20.2M represent 41 months of operating reserves.

Mission

ARTSPACE IS A NONPROFIT DEVELOPER OF AFFORDABLE HOUSING AND WORK SPACE.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $198,955
Program Service Revenue $5,627,031
Investment Income $81,308
Other Revenue $0
TOTAL REVENUE $5,907,294

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,349,752
Fundraising Expenses $175,075
Program Expenses $5,527,997
Other Expenses $4,701,989
TOTAL EXPENSES $6,051,741

Year-over-Year Comparison

2024 2023 Change
Revenue $5,907,294 $6,085,723 0.0%
Expenses $6,051,741 $6,149,978 0.0%
Net Income $-144,447 $-64,255 +1.2%
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

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Governance

Voting Members
11
Independent Members
11
Employees
4
Volunteers
11

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
3
$306,634
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ELIZABETH EVENSEN CHAIR 1.00
Officer Director
$0 $0 $0
JOHN MILLIKEN SECRETARY/TREASURER 1.00
Officer Director
$0 $0 $0
ELIZABETH BRERETON BOARD MEMBER 1.00
Director
$0 $0 $0
KIM HANNAY BOARD MEMBER 1.00
Director
$0 $0 $0
ROBERT LAKE BOARD MEMBER 1.00
Director
$0 $0 $0
WENDY LEONELLI BOARD MEMBER 1.00
Director
$0 $0 $0
KATHIE MILLER BOARD MEMBER 1.00
Director
$0 $0 $0
ALISON PTAK BOARD MEMBER 1.00
Director
$0 $0 $0
IRA RUBENFELD BOARD MEMBER 1.00
Director
$0 $0 $0
PAULA SANDLIAN BOARD MEMBER 1.00
Director
$0 $0 $0
JENNIFER SPEERS BOARD MEMBER 1.00
Director
$0 $0 $0
JESSICA NORIE PRESIDENT 40.00
Officer
$284,639 $21,995 $306,634
CYNTHIA FRANKE DEPUTY DIRECTOR 40.00
Highest
$140,000 $12,345 $152,345
ANNASTASIA KAESSNER DIRECTOR OF ASSET MANAGEMENT 40.00
Highest
$118,077 $4,502 $122,579
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 $5,907,294 $6,051,741 $31,496,945 $-144,447
2023 $6,085,723 $6,149,978 $32,349,714 $-64,255
2022 $7,535,260 $5,146,631 $35,152,188 $2,388,629
2021 $4,832,458 $4,858,580 $34,050,741 $-26,122
2020 $4,813,637 $4,596,880 $35,006,190 $216,757
2019 $5,445,976 $4,647,934 $35,609,028 $798,042
2018 $4,391,541 $4,219,766 $39,432,857 $171,775
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