NEW HAVEN FESTIVALS 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

1989

Legal Domicile

Phone

2037851000

Tax Period

2023-01-01 to 2023-12-31

NEW HAVEN FESTIVALS INC, founded in 1989, is a small nonprofit in the Recreation & Sports sector that reported $281K in total revenue in fiscal year 2023. Revenue fell 34% from the prior year — a significant decline worth monitoring. Expenses of $405K exceeded revenue, resulting in a 44% operating deficit.

Mission

To create and promote cultural arts and events in the City of New Haven CT

Program Service Accomplishments

Program 1

Expenses: $402,295 Revenue: $280,518

Support the creation of cultural arts and events in the City of New Haven CT as outlined in the Cultural Plan.

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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 (2023)

Revenue Breakdown

Contributions & Grants $280,518

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $280,518

Expense Breakdown

Grants Paid $126,033

Salaries & Benefits $42,571

Fundraising Expenses $2,500

Program Expenses $402,295

Other Expenses $236,191

TOTAL EXPENSES $404,795

Year-over-Year Comparison

	2023	2022	Change
Revenue	$280,518	$424,125	-0.3%
Expenses	$404,795	$379,569	+0.1%
Net Income	$-124,277	$44,556	-3.8%

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

Volunteers

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	Role	Reportable Comp	Other Comp	Total
Robert Parker	Chairperson	Officer Director	$0	$0	$0
Virginia Kozlowski	Secretary Treasurer	Officer Director	$0	$0	$0
Steve Freis	Director	Director	$0	$0	$0
Errol Sanders	Director	Director	$0	$0	$0
Nancy Franco	Director	Director	$0	$0	$0
Jason Sobilinski	Director	Director	$0	$0	$0
Thea Bauxbaum	Director	Director	$0	$0	$0
Win Davis	Director	Director	$0	$0	$0
Adriane Jefferson	Director	Director	$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	$280,518	$404,795	$416,565	$-124,277
2022	$424,125	$379,569	$543,722	$44,556
2021	$605,402	$531,578	$497,059	$73,824
2020	$249,931	$190,894	$607,735	$59,037