Cornish Fair Association Inc

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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

1952

Phone

6034693560

Tax Period

2024-11-01 to 2025-10-31

Cornish Fair Association Inc, founded in 1952, is a small nonprofit in the Human Services sector that reported $427K in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

To conduct an agricultural fair for the education and recreation of the community and to encourage an interest in agricultural arts and crafts.

Program Service Accomplishments

Program 1

Expenses: $451,752 Revenue: $412,206

Expenses were greater than income.

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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 $0

Program Service Revenue $412,206

Investment Income $6,622

Other Revenue $8,339

TOTAL REVENUE $427,167

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $451,752

Other Expenses $452,752

TOTAL EXPENSES $452,752

Year-over-Year Comparison

	2024	2023	Change
Revenue	$427,167	$387,808	+0.1%
Expenses	$452,752	$355,359	+0.3%
Net Income	$-25,585	$32,449	-1.8%

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

N/A

Volunteers

N/A

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
Wayne Gray	President	5	Officer	$0	$0	$0
Marcia Clark	Treasurer	2	Officer	$0	$0	$0
Glenn Thorton	Secretary	2	Officer	$0	$0	$0
Jacob Simino	Vice President	1	Officer	$0	$0	$0
Cathy Parks	Asst Treasurer	1	Officer	$0	$0	$0
April Woodman	Asst Secretary	1	Officer	$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	$427,167	$452,752	$489,879	$-25,585
2023	$387,808	$355,359	$513,747	$32,449
2022	$391,000	$353,046	$502,906	$37,954
2020	$72,360	$37,610	$227,994	$34,750