Western Reserve Folk Arts Association

EIN: 341953558 501(c)(3)

Kent, OH

Total Revenue
$1,471,216
Total Expenses
$1,438,003
Total Assets
$85,095
Net Assets
$62,569
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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
1995
Tax Period
2019-01-01 to 2019-12-31

Western Reserve Folk Arts Association, founded in 1995, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2019. Revenue grew 17% year-over-year, indicating healthy expansion.

Mission

Festivals and events attended by over 10,000 people

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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 (2019)

Revenue Breakdown

Contributions & Grants $40,389
Program Service Revenue $1,430,818
Investment Income $9
Other Revenue $0
TOTAL REVENUE $1,471,216

Expense Breakdown

Grants Paid $0
Salaries & Benefits $35,065
Fundraising Expenses $0
Program Expenses $1,406,453
Other Expenses $1,402,938
TOTAL EXPENSES $1,438,003

Year-over-Year Comparison

2019 2018 Change
Revenue $1,471,216 $1,252,225 +0.2%
Expenses $1,438,003 $1,301,633 +0.1%
Net Income $33,213 $-49,408 -1.7%
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
4
Independent Members
2
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
2
$35,065
Total Directors
4
$35,065
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Thomas Simpson Executive Dir. 50.00
Officer Director
$35,065 $0 $35,065
Richelle Charleton Vice President 40.00
Officer Director
$0 $0 $0
R Michael ONeal Trustee 2.00
Director
$0 $0 $0
Greg Janik Trustee 2.00
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
2019 $1,471,216 $1,438,003 $85,095 $33,213
2018 $1,252,225 $1,301,633 $67,636 $-49,408
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