TBAC WIND DOWN LTD

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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

1977

Legal Domicile

Principal Officer

BRAD BOE

Phone

3036627121

Tax Period

2018-08-01 to 2019-02-28

TBAC WIND DOWN LTD, founded in 1977, is a community nonprofit that reported $3.1M in total revenue in fiscal year 2018. Revenue surged 1203% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.0M, a strong 94% operating margin.

Mission

THE NONPROFIT BIG APPLE CIRCUS ENGAGED THE COMMUNITIES WE SERVED THROUGH THE JOY AND WONDER OF CLASSIC CIRCUS ARTS. WE CREATED DIRECT, SHARED CONNECTIONS INSIDE OUR ONE-RING BIG TOP AND IN HOSPITALS, NURSING HOMES, AND SCHOOLS, IN OUR NEW YORK CITY HOME AND IN CITIES ACROSS AMERICA. EACH YEAR, BIG APPLE CIRCUS OFFERED A NEW SHOW, FEATURING THE FINEST CIRCUS PERFORMERS FROM AROUND THE GLOBE AND BRINGING THE HIGHEST STANDARDS OF ARTISTIC EXCELLENCE TO OUR MULTIGENERATIONAL, MULTIETHNIC, AND MULTILINGUAL AUDIENCE, BOTH ON TOUR AND AT OUR HOME BASE IN NEW YORK CITY'S LINCOLN CENTER. BIG APPLE CIRCUS WAS EQUALLY DEDICATED TO ART AND CARE. - CLOWN CARE BROUGHT LAUGHTER AND JOY TO AID THE HEALING PROCESS OF PATIENTS IN LEADING PEDIATRIC HOSPITALS, WHILE ITS SISTER PROGRAM, VAUDEVILLE VISITS, ENGAGED SENIORS IN RESIDENTIAL CARE FACILITIES. - CIRCUS OF THE SENSES AND CIRCUS EMBRACES AUTISM PROVIDED ADAPTED PERFORMANCES FOR CHILDREN WITH HEARING AND VISION IMPAIRMENTS, ON THE AUTISM SPECTRUM, AND WITH OTHER PHYSICAL AND COGNITIVE CHALLENGES. - AND CIRCUS FOR ALL! DISTRIBUTED FREE AND SUBSIDIZED TICKETS TO SCHOOLS AND NONPROFIT ORGANIZATIONS SERVING LOW-INCOME CHILDREN AND FAMILIES. INCLUSION WAS A CORE VALUE AT BIG APPLE CIRCUS, WHICH WAS DEDICATED TO DELIVERING THE FINEST CIRCUS ENTERTAINMENT TO EVERYONE, REGARDLESS OF PHYSICAL OR COGNITIVE ABILITY, OR ECONOMIC CIRCUMSTANCE. AS A RESULT OF THE CHAPTER 11 BANKRUPTCY PROCEEDINGS, TBAC WIND DOWN, LTD. CEASED OPERATIONS AND LIQUIDATED ALL OF ITS ASSETS.

Program Service Accomplishments

Program 1

Expenses: $62,000

AS A RESULT OF THE CHAPTER 11 BANKRUPTCY PROCEEDINGS, THE BIG APPLE CIRCUS USED THE REMAINING ASSETS TO MAKE CONTRIBUTIONS TO OTHER NFP ORGANIZATIONS, PURSUANT TO ITS PLAN OF LIQUIDATION.

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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 (2018)

Revenue Breakdown

Contributions & Grants $4,498

Program Service Revenue $0

Investment Income $0

Other Revenue $3,140,164

TOTAL REVENUE $3,144,662

Expense Breakdown

Grants Paid $62,000

Salaries & Benefits $30,180

Fundraising Expenses $0

Program Expenses $62,000

Other Expenses $81,276

TOTAL EXPENSES $173,456

Year-over-Year Comparison

	2018	2017	Change
Revenue	$3,144,662	$241,423	+12.0%
Expenses	$173,456	$1,530,826	-0.9%
Net Income	$2,971,206	$-1,289,403	-3.3%

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

N/A

Independent Members

N/A

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

$29,978

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRAD BOE	PLAN ADMINISTRATOR	10.00	Officer	$29,978	$0	$29,978
PAUL BELANGER	CFO	10.00	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
2019	$3,144,662	$173,456	No data	$2,971,206