HILLSBORO FESTIVAL OF THE BELLS

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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

2007

Legal Domicile

Principal Officer

JODI MURARESCU

Phone

9373934227

Tax Period

2025-01-01 to 2025-12-31

HILLSBORO FESTIVAL OF THE BELLS, founded in 2007, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $63K in total revenue in fiscal year 2025. Expenses of $81K exceeded revenue, resulting in a 28% operating deficit.

Mission

TO CELEBRATE LOCAL APPALACHIAN CULTURE

Program Service Accomplishments

Program 1

Expenses: $80,651

THE FESTIVAL COMMITTEE EXISTS TO RECOGNIZE HILLSBORO, OHIOS HISTORY. DURING WORLD WAR II, HILLSBORO WAS THE MAJOR PRODUCER AND SUPPLIER OF BELLS TO THE UNITED STATES MILITARY. THE ANNUAL FESTIVAL...

THE FESTIVAL COMMITTEE EXISTS TO RECOGNIZE HILLSBORO, OHIOS HISTORY. DURING WORLD WAR II, HILLSBORO WAS THE MAJOR PRODUCER AND SUPPLIER OF BELLS TO THE UNITED STATES MILITARY. THE ANNUAL FESTIVAL CELEBRATES OUR HISTORY AND APPALACHIAN CULTURE.

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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 (2025)

Revenue Breakdown

Contributions & Grants $62,677

Program Service Revenue $0

Investment Income $383

Other Revenue $0

TOTAL REVENUE $63,060

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $80,651

Other Expenses $80,651

TOTAL EXPENSES $80,651

Year-over-Year Comparison

	2025	2024	Change
Revenue	$63,060	$65,962	0.0%
Expenses	$80,651	$71,854	+0.1%
Net Income	$-17,591	$-5,892	+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

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

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
NYHLA CAREY	TRUSTEE	1.00	Director	$0	$0	$0
ABBY HELTERBRAND	TRUSTEE	1.00	Director	$0	$0	$0
SARAH CARROLL	TRUSTEE	1.00	Director	$0	$0	$0
RONNIE WHITENACK	TRUSTEE	1.00	Director	$0	$0	$0
TOM ZILE	PRESIDENT	1.00	Officer Director	$0	$0	$0
TARA PENDELL	TRUSTEE	1.00	Director	$0	$0	$0
JODI MURARESCU	TREASURER	1.00	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
2025	$63,060	$80,651	$29,949	$-17,591
2024	$65,962	$71,854	$47,572	$-5,892
2023	$57,555	$61,318	$53,464	$-3,763
2022	$59,369	$75,746	$58,202	$-16,377
2021	$107	$1,232	$74,403	$-1,125
2020	$117	$1,479	$75,528	$-1,362
2019	$71,316	$74,891	$76,890	$-3,575
2018	$66,114	$73,117	$80,455	$-7,003