MASSACHUSETTS INTERNATIONAL FESTIVAL OF THE ARTS INC

EIN: 043192668 501(c)(3) Arts, Culture & Humanities

Holyoke, MA

Total Revenue
$1,751,641
Total Expenses
$551,782
Total Assets
$3,620,037
Net Assets
$3,048,205
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1993
Legal Domicile
MA
Principal Officer
DONALD SANDERS
Phone
4135400200
Tax Period
2022-07-01 to 2023-06-30

MASSACHUSETTS INTERNATIONAL FESTIVAL OF THE ARTS INC, founded in 1993, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.8M in total revenue in fiscal year 2022. Revenue surged 111% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.2M, a strong 68% operating margin.

Mission

MIFA PRESENTS THE FINEST EXAMPLES OF CONTEMPORARY PRACTICE IN THE PERFORMING, VISUAL, AND LITERARY ARTS FOR THE PURPOSES OF EDUCATING, ENTERTAINING, AND ENRICHING LIVES. ADDITIONALLY, THE ORGANIZATION IS OVERSEEING THE REHABILITATION OF THE VICTORY THEATRE, A 1920S THEATRE IN HOLYOKE, MASSACHUSETTS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $1,721,209
Program Service Revenue $30,432
Investment Income $0
Other Revenue $0
TOTAL REVENUE $1,751,641

Expense Breakdown

Grants Paid $0
Salaries & Benefits $153,356
Fundraising Expenses $63,317
Program Expenses $338,497
Other Expenses $398,426
TOTAL EXPENSES $551,782

Year-over-Year Comparison

2022 2021 Change
Revenue $1,751,641 $831,365 +1.1%
Expenses $551,782 $435,608 +0.3%
Net Income $1,199,859 $395,757 +2.0%
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

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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
7
Independent Members
6
Employees
4
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
3
$64,244
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DONALD SANDERS EXECUTIVE ARTISTIC DIRECTOR 035.00
Officer
$64,244 $0 $64,244
MIRJANA BLOKAR DIRECTOR 002.00
Director
$0 $0 $0
ALFRED HUTT DIRECTOR 002.00
Director
$0 $0 $0
SYBIL SHAINWALD DIRECTOR 002.00
Director
$0 $0 $0
JAMES SUTTER DIRECTOR 002.00
Director
$0 $0 $0
TERESITA ALICEA PRESIDENT 002.00
Officer
$0 $0 $0
JOHN HELLWEG TREASURER 002.00
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
2024 No data No data No data No data
2023 $1,751,641 $551,782 $3,620,037 $1,199,859
2023 $1,001,641 $553,501 $2,631,951 $448,140
2022 $831,365 $435,608 $2,509,553 $395,757
2021 $187,915 $158,597 $1,964,445 $29,318
2020 $839,290 $357,396 $1,101,409 $481,894
2019 $616,789 $535,516 $168,112 $81,273
2018 $224,453 $202,121 $95,911 $22,332
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