CLEVELAND FILM SOCIETY

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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

1979

Legal Domicile

Principal Officer

HERMIONE MALONE

Phone

2166233456

Tax Period

2023-10-01 to 2024-09-30

CLEVELAND FILM SOCIETY, founded in 1979, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.5M in total revenue in fiscal year 2023. Expenses of $3.2M exceeded revenue, resulting in a 27% operating deficit.

Mission

THE CLEVELAND FILM SOCIETY IS A NONPROFIT CORPORATION ORGANIZED TO PROMOTE ARTISTICALLY AND CULTURALLY SIGNIFICANT FILM ARTS THROUGH EDUCATION AND EXHIBITION TO ENRICH THE LIFE OF THE CLEVELAND, OHIO COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $2,286,718 Revenue: $591,136

THE 48TH CLEVELAND INTERNATIONAL FILM FESTIVAL (CIFF48) WAS PRESENTED IN HYBRID FORM OF BEING IN-PERSON AND ONLINE. THE FESTIVAL TOOK PLACE APRIL 3-APRIL 13, 2024 IN PERSON AT PLAYHOUSE SQUARE AND...

THE 48TH CLEVELAND INTERNATIONAL FILM FESTIVAL (CIFF48) WAS PRESENTED IN HYBRID FORM OF BEING IN-PERSON AND ONLINE. THE FESTIVAL TOOK PLACE APRIL 3-APRIL 13, 2024 IN PERSON AT PLAYHOUSE SQUARE AND THEN FROM APRIL 14-21, 2024 ONLINE. THE FESTIVAL SHOWCASED 138 FEATURE FILMS AND 225 SHORT FILMS, REPRESENTING 60 COUNTRIES. THE FESTIVAL WELCOMED 70,459 FILM ENTHUSIASTS IN PERSON AND VIRTUALLY, AND HOSTED 361 FILMMAKERS FROM AROUND THE WORLD. INCLUDED WERE 4,364 STUDENTS FROM 79 SCHOOLS IN NORTHEAST OHIO WHO TOOK PART IN FILMSLAM, THE FESTIVAL'S OLDEST EDUCATIONAL PROGRAM FOR THOSE IN GRADES 5-12.

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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 $1,912,134

Program Service Revenue $582,798

Investment Income $0

Other Revenue $8,338

TOTAL REVENUE $2,503,270

Expense Breakdown

Grants Paid $139,683

Salaries & Benefits $1,074,948

Fundraising Expenses $516,292

Program Expenses $2,286,718

Other Expenses $1,955,936

TOTAL EXPENSES $3,170,567

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,503,270	$2,421,575	+0.0%
Expenses	$3,170,567	$3,128,400	+0.0%
Net Income	$-667,297	$-706,825	-0.1%

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

Volunteers

323

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

$301,701

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRETT ALTIER	DIRECTOR	1.00	Director	$0	$0	$0
JULES BELKIN	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS SW BLAKE	VP OF DEVELOPMENT	1.00	Officer Director	$0	$0	$0
MAC CLOUGH	DIRECTOR	1.00	Director	$0	$0	$0
TOM COOK	DIRECTOR	1.00	Director	$0	$0	$0
TOM DAVIS	DIRECTOR	1.00	Director	$0	$0	$0
TIMOTHY J DOWNING	DIRECTOR	1.00	Director	$0	$0	$0
LISA DURST	DIRECTOR	1.00	Director	$0	$0	$0
LAUREN RICH FINE	DIRECTOR	1.00	Director	$0	$0	$0
COLEEN FISHER	DIRECTOR	1.00	Director	$0	$0	$0
JOE FOLEY	DIRECTOR	1.00	Director	$0	$0	$0
CHAR FOWLER	DIRECTOR	1.00	Director	$0	$0	$0
JERRY FRANTZ	VP OF STRATEGIC PLANNING	1.00	Officer Director	$0	$0	$0
BILL GARVEY	EX OFFICIO	1.00	Director	$0	$0	$0
DEBRA S GOLD	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTINE HICKEY	DIRECTOR	1.00	Director	$0	$0	$0
DION HUDNALL	DIRECTOR	1.00	Director	$0	$0	$0
JINNY JOHNSON	SECRETARY	1.00	Officer Director	$0	$0	$0
PAMELA LEROSE	TREASURER	1.00	Officer Director	$0	$0	$0
GREGG LEVINE	DIRECTOR	1.00	Director	$0	$0	$0
JOE MARINUCCI	PRESIDENT	1.00	Officer Director	$0	$0	$0
JOYCE MARTIN-FYFE	DIRECTOR	1.00	Director	$0	$0	$0
KERRY MCCORMACK	EX OFFICIO	1.00	Director	$0	$0	$0
ERICA MERRITT	VP OF BOARD ENGAGEMENT	1.00	Officer Director	$0	$0	$0
TODD MESEK	VP OF MARKETING	1.00	Officer Director	$0	$0	$0
LYNN MILLINER	DIRECTOR	1.00	Director	$0	$0	$0
ZACH MILVO	DIRECTOR	1.00	Director	$0	$0	$0
NADINE NANA	DIRECTOR	1.00	Director	$0	$0	$0
ERIC PATRICK	DIRECTOR	1.00	Director	$0	$0	$0
TIM PIAZZA	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN POOR	DIRECTOR	1.00	Director	$0	$0	$0
JULIE RASKIND	DIRECTOR	1.00	Director	$0	$0	$0
CIGDEM SLANKARD	DIRECTOR	1.00	Director	$0	$0	$0
MARK SMITH	DIRECTOR	1.00	Director	$0	$0	$0
ROY TURNELL	DIRECTOR	1.00	Director	$0	$0	$0
TOM WILSON	DIRECTOR	1.00	Director	$0	$0	$0
MARCIE GOODMAN	EXECUTIVE DIRECTOR (UNTIL 6/30/24)	40.00	Officer	$186,500	$23,597	$210,097
HERMIONE MALONE	EXECUTIVE DIRECTOR (STARTING 7/1/24)	40.00	Officer	$87,788	$3,816	$91,604
PATRICK SHEPHERD	ASSOCIATE DIRECTOR	40.00	Highest	$106,825	$36,787	$143,612

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	$2,503,270	$3,170,567	$1,689,174	$-667,297
2023	$2,421,575	$3,128,400	$2,167,965	$-706,825
2022	$2,636,284	$2,824,397	$2,559,299	$-188,113
2021	$2,420,704	$1,669,725	$2,929,525	$750,979
2020	$2,308,982	$2,156,584	$2,257,260	$152,398
2019	$3,502,356	$3,521,199	$1,784,430	$-18,843
2018	$3,300,711	$3,438,034	$1,794,621	$-137,323