MERCER COUNTY ITALIAN AMERICAN FESTIVAL ASSOCIATION INC (EIN 223645790) - Form 990 Financial Analysis & Trantor Score

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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

2000

Legal Domicile

Principal Officer

JOHN SCARPATI JR

Phone

6096317544

Tax Period

2024-01-01 to 2024-12-31

MERCER COUNTY ITALIAN AMERICAN FESTIVAL ASSOCIATION INC, founded in 2000, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $8K in total revenue in fiscal year 2024. Revenue fell 34% from the prior year — a significant decline worth monitoring. Expenses of $25K exceeded revenue, resulting in a 232% operating deficit.

Mission

THE ORGANIZATION EXISTS EXCLUSIVELY TO SUPPORT AND PROMOTE THE HERITAGE OF ITALIAN AMERICANS

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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 $275

Program Service Revenue $0

Investment Income $7,336

Other Revenue $0

TOTAL REVENUE $7,611

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $25,269

TOTAL EXPENSES $25,269

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,611	$11,456	-0.3%
Expenses	$25,269	$19,947	+0.3%
Net Income	$-17,658	$-8,491	+1.1%

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
JERRY HOWE	SEC	N/A	Director	$0	$0	$0
AL HUTCHINSON	TRUSTEE	N/A	Director	$0	$0	$0
ROCCO RICCIO JR	TRUSTEE	N/A	Director	$0	$0	$0
JOSEPH URBANO	TREAS	N/A	Director	$0	$0	$0
JOHN SCARPATI JR	PRESIDENT	N/A	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	$7,611	$25,269	$295,203	$-17,658
2023	$11,456	$19,947	$303,968	$-8,491
2022	$1,929	$22,661	$292,910	$-20,732
2021	$149,252	$28,344	$345,463	$120,908
2020	$8,772	$46,680	$227,258	$-37,908
2019	$283,951	$334,481	$265,229	$-50,530
2018	$194,873	$337,750	$316,509	$-142,877

MERCER COUNTY ITALIAN AMERICAN FESTIVAL ASSOCIATION INC