THE FESTIVAL FOUNDATION

EIN: 260883148 501(c)(3) Human Services

TRAVERSE CITY, MI

Total Revenue
$4,788,308
Total Expenses
$5,098,959
Total Assets
$1,485,704
Net Assets
$904,146
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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
MI
Principal Officer
STACEY ISLES
Phone
2319474230
Tax Period
2024-01-01 to 2024-12-31

THE FESTIVAL FOUNDATION, founded in 2007, is a community nonprofit in the Human Services sector that reported $4.8M in total revenue in fiscal year 2024. Revenue decreased 11% compared to the prior year.

Mission

PROVIDE PROGRAMS & EVENTS THAT PROMOTE & EDUCATE THE COMMUNITY ABOUT CHERRIES AND AGRICULTURE.

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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 (2024)

Revenue Breakdown

Contributions & Grants $187,559
Program Service Revenue $3,831,048
Investment Income $33,005
Other Revenue $736,696
TOTAL REVENUE $4,788,308

Expense Breakdown

Grants Paid $24,225
Salaries & Benefits $808,674
Fundraising Expenses $0
Program Expenses $3,998,479
Other Expenses $4,266,060
TOTAL EXPENSES $5,098,959

Year-over-Year Comparison

2024 2023 Change
Revenue $4,788,308 $5,362,646 -0.1%
Expenses $5,098,959 $5,338,700 0.0%
Net Income $-310,651 $23,946 -14.0%
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

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Governance

Voting Members
12
Independent Members
12
Employees
17
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
4
$138,463
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MIKE MEINDERTSMA PRESIDENT 2.00
Officer Director
$0 $0 $0
STACEY ISLES IMMEDIATE PAST PRESIDENT 2.00
Officer Director
$0 $0 $0
KELLI MENGEBIER SECRETARY 2.00
Officer Director
$0 $0 $0
JESSICA ALPERS BOARD MEMBER 2.00
Director
$0 $0 $0
IAN HOLLANDS BOARD MEMBER 2.00
Director
$0 $0 $0
NICOLETTE SCHWEITZER BOARD MEMBER 2.00
Director
$0 $0 $0
KEVIN SEVERT BOARD MEMBER 2.00
Director
$0 $0 $0
DOUG DOWDY BOARD MEMBER 2.00
Director
$0 $0 $0
KANDACE CHAPPLE BOARD MEMBER 2.00
Director
$0 $0 $0
BRIAN BEAUCHAMP BOARD MEMBER 2.00
Director
$0 $0 $0
JOHN LYNCH EX-OFFICIO 2.00
Director
$0 $0 $0
KATHLEEN PAYE EXECUTIVE DIRECTOR 40.00
Officer
$132,508 $5,955 $138,463
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 No data No data No data No data
2024 $4,788,308 $5,098,959 $1,485,704 $-310,651
2023 $5,362,646 $5,338,700 $1,390,242 $23,946
2022 $4,565,069 $4,338,645 $1,466,611 $226,424
2021 $2,322,216 $2,092,005 $1,368,579 $230,211
2020 $357,740 $858,923 $1,522,335 $-501,183
2019 $4,047,608 $3,840,702 $1,469,219 $206,906
2018 $3,029,381 $3,020,085 $853,685 $9,296
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