ARMORY CENTER FOR THE ARTS

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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

1974

Legal Domicile

Principal Officer

KATHRYN ANN MANGUM

Phone

6267925101

Tax Period

2024-07-01 to 2025-06-30

ARMORY CENTER FOR THE ARTS, founded in 1974, is a community nonprofit in the Arts, Culture & Humanities sector that reported $7.4M in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year. The organization ran a surplus of $4.3M, a strong 58% operating margin.

Mission

THE ARMORY CENTER FOR THE ARTS' MISSION IS TO NURTURE OUR COMMUNITY AND ITS YOUNG PEOPLE BY CREATING, LEARNING, AND PRESENTING ART TO ADVANCE EQUITY AND SOCIAL JUSTICE.

Program Service Accomplishments

Program 1

Expenses: $1,912,596 Revenue: $790,220

PROVIDED ART EDUCATION WORKSHOPS, PROFESSIONAL EXHIBITIONS AND PRESENTATIONS TO THE GENERAL PUBLIC AND SCHOOLS. REDUCED TUITION WAS PROVIDED TO LOW INCOME HOUSEHOLDS FOR PARTICIPATION IN...

PROVIDED ART EDUCATION WORKSHOPS, PROFESSIONAL EXHIBITIONS AND PRESENTATIONS TO THE GENERAL PUBLIC AND SCHOOLS. REDUCED TUITION WAS PROVIDED TO LOW INCOME HOUSEHOLDS FOR PARTICIPATION IN TUITION-BASED CLASSES. ALSO PROVIDED A COMMUNITY CENTER FOR USE BY ARTISTS AND TAX-EXEMPT ORGANIZATIONS; OVER 100,000 VISITS. MANY OF THESE SERVICES ARE PROVIDED FREE TO THE COMMUNITY OF PASADENA IN EXCHANGE FOR THE RENT FREE USE OF THE ARMORY BUILDING.

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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 $3,586,253

Program Service Revenue $797,923

Investment Income $2,980,969

Other Revenue $3,409

TOTAL REVENUE $7,368,554

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,243,939

Fundraising Expenses $462,417

Program Expenses $1,912,596

Other Expenses $861,226

TOTAL EXPENSES $3,105,165

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,368,554	$8,385,329	-0.1%
Expenses	$3,105,165	$3,016,035	+0.0%
Net Income	$4,263,389	$5,369,294	-0.2%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

178

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
ALICE FUNG	DIRECTOR	2.00	Director	$0	$0	$0
CATHERINE ARIAS	VP - BOARD AFFIARS	2.00	Officer Director	$0	$0	$0
DIANNE M MAGEE	DIRECTOR	2.00	Director	$0	$0	$0
DONNA VACCARINO	DIRECTOR	2.00	Director	$0	$0	$0
GALE KOHL	VP - BUILDING AND TECH	5.00	Officer Director	$0	$0	$0
GRANT DERDERIAN	DIRECTOR	2.00	Director	$0	$0	$0
JILL SUMIYASU	PAST PRESIDENT	2.00	Director	$0	$0	$0
KATHARINE HARRINGTON	BOARD CHAIR	2.00	Officer Director	$0	$0	$0
KATHY MANGUM	VICE CHAIR	2.00	Officer Director	$0	$0	$0
KRISTIN MASSIMINO	DIRECTOR	2.00	Director	$0	$0	$0
LINDA BURROW	VP - INVESTMENT	2.00	Officer Director	$0	$0	$0
LUIS GRANE	DIRECTOR	2.00	Director	$0	$0	$0
MARIA KHADER KARP	VP - DEVELOPMENT	2.00	Officer Director	$0	$0	$0
MARY GUMPORT	DIRECTOR	2.00	Director	$0	$0	$0
MAX BRENNAN	SECRETARY	2.00	Officer Director	$0	$0	$0
NERY GABRIEL LEMUS	DIRECTOR	2.00	Director	$0	$0	$0
NIC CHA KIM	DIRECTOR	2.00	Director	$0	$0	$0
PETER KUTZER	DIRECTOR	2.00	Director	$0	$0	$0
SARAH DESCHENES	VP - PERSONNEL	2.00	Officer Director	$0	$0	$0
SHANNON MALONE	DIRECTOR	2.00	Director	$0	$0	$0
SUSAN HALL-HARDWICK	TREASURER	2.00	Officer Director	$0	$0	$0
TAMERLIN GODLEY	DIRECTOR	2.00	Director	$0	$0	$0
TIMOTHY THOMAS II	DIRECTOR	2.00	Director	$0	$0	$0
VICTORIA STRATMAN	VP - AUDIT	2.00	Officer Director	$0	$0	$0
FAITH CHILDS-DAVIS	DIRECTOR	2.00	Director	$0	$0	$0
TONITA FERNANDEZ	DIRECTOR	2.00	Director	$0	$0	$0
DEEPTHIMAN GOWDA	DIRECTOR	2.00	Director	$0	$0	$0
STEVE NYBLOM	DIRECTOR	2.00	Director	$0	$0	$0
LESLIE A ITO	EXECUTIVE DIRECTOR & PRESI	50.00	Highest	$170,669	$0	$170,669

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	$7,368,554	$3,105,165	$14,059,051	$4,263,389
2024	No data	No data	No data	No data
2023	$2,891,630	$2,766,530	$5,916,615	$125,100
2022	$2,248,410	$2,257,437	$5,399,351	$-9,027
2021	$2,463,548	$1,740,759	$6,352,295	$722,789
2020	$2,070,032	$2,644,121	$4,922,026	$-574,089
2019	$2,353,628	$2,400,493	$5,356,163	$-46,865
2018	$2,229,897	$2,726,401	$5,466,292	$-496,504