INTERNATIONAL FOLK ART ALLIANCE IN… - Form 990 Financial Data

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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

2006

Legal Domicile

Principal Officer

FRANCIS COLEMAN

Phone

5059927600

Tax Period

2023-01-01 to 2023-12-31

INTERNATIONAL FOLK ART ALLIANCE INC DBA IFAM, founded in 2006, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.4M in total revenue in fiscal year 2023. Revenue fell 40% from the prior year — a significant decline worth monitoring. Net assets of $7.7M represent 38 months of operating reserves.

Mission

CREATE ECONOMIC OPPORTUNITIES FOR AND WITH FOLK ARTISTS WORLDWIDE WHO CELEBRATE AND PRESERVE FOLK ART TRADITIONS. WE ENVISION A WORLD THAT VALUES THE DIGNITY AND HUMANITY OF THE HANDMADE, HONORS TIMELESS CULTURAL TRADITIONS, AND SUPPORTS THE WORK OF FOLK ARTISTS SERVING AS ENTREPRENEURS AND CATALYSTS FOR POSITIVE SOCIAL CHANGE. TO AUGMENT THIS PURSUIT, THE ORGANIZATION MOVED TO A LARGER HEADQUARTERS, INVESTING IN TENANT IMPROVEMENTS AS THE FIRST PHASE OF A CAMPAIGN TO OWN THE BUILDING OUTRIGHT.

Program Service Accomplishments

Program 1

Expenses: $1,840,719 Revenue: $1,082,779

INTERNATIONAL FOLK ART MARKET: PRODUCING INTERNATIONAL FOLK ART MARKET AS A PROGRAMMATIC OUTCOME OF HIGHLY CURATED ARTIST SELECTION AND ENTREPRENEURISM EDUCATION. IN 2023, IFAA WAS ABLE TO RETURN TO NORMAL OPERATIONS, WITH VERY FEW HEALTH ORDER DRIVEN MODIFICATIONS. THE ORGANIZATION WAS STILL IN A FINANCIAL AND OPERATIONAL REBUILDING PHASE THOUGH. THE ORGANIZATION MOVED THE EVENT TO A NEW VENUE: RAILYARD PARK, A MORE CENTRALLY LOCATED VENUE.

Program 2

Expenses: $26,764 Revenue: $56,313

THE IFAM COLLECTION AT DALLAS MARKET CENTER: EXPANDING OPPORTUNITIES FOR ARTISANS BY OFFERING ADVANCED ENTREPRENEURISM EDUCATION, INCLUDING SOCIAL ENTERPRISE MODELS AND IN-COUNTRY CURRICULUM...

THE IFAM COLLECTION AT DALLAS MARKET CENTER: EXPANDING OPPORTUNITIES FOR ARTISANS BY OFFERING ADVANCED ENTREPRENEURISM EDUCATION, INCLUDING SOCIAL ENTERPRISE MODELS AND IN-COUNTRY CURRICULUM DELIVERY, AND SALES VENUES, INCLUDING WHOLESALE AND VIRTUAL CHANNELS. THIS WAS NOT PROVIDED IN 2021 HOWEVER THE MARKET IN THE DALLAS MARKET CENTER RESUMED IN 2022 AND CONTINUED IN 2023.

Program 3

Expenses: $21,465 Revenue: $0

MENTOR TO MARKET (M2M): TRAINING PROGRAM THAT TEACHES ARTISTS CRITICAL MARKETING AND BUSINESS SKILLS TO HELP THEM IMPROVE THEIR SALES, THUS SUSTAINING THEIR TRADITIONS AND CREATING STRONGER ECONOMY FOR THEMSELVES AND THEIR COMMUNITIES. IN 2021, THESE TRAINING PROGRAMS CONTINUED ONLINE BUT RETURNED TO IN-PERSON TRAINING IN 2022. IN 2023, A NEW PILOT CURRICULUM WAS DEVELOPED AND TESTED WITH A SMALL NUMBER OF ARTISTS WITH A PLAN FOR A BROADER IMPLEMENTATION IN 2024/2025.

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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 $1,179,117

Program Service Revenue $1,138,982

Investment Income $120,724

Other Revenue $-32,122

TOTAL REVENUE $2,406,701

Expense Breakdown

Grants Paid $0

Salaries & Benefits $587,150

Fundraising Expenses $261,537

Program Expenses $1,899,707

Other Expenses $1,774,938

TOTAL EXPENSES $2,362,088

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,406,701	$3,982,562	-0.4%
Expenses	$2,362,088	$2,183,465	+0.1%
Net Income	$44,613	$1,799,097	-1.0%

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

Volunteers

1500

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

$121,562

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HANK COLEMAN	CHAIR	5.00	Officer Director	$0	$0	$0
LEIGH ANN BROWN	VICE CHAIR	5.00	Officer Director	$0	$0	$0
NANCY BERN	TREASURER	2.00	Officer Director	$0	$0	$0
LISA ADELMAN	DIRECTOR	2.00	Director	$0	$0	$0
CATHY ALLEN	DIRECTOR	1.00	Director	$0	$0	$0
LISA AHMAD	DIRECTOR	1.00	Director	$0	$0	$0
AMANDA ALEXANDER	DIRECTOR	1.00	Director	$0	$0	$0
BONNIE BENNETT	DIRECTOR	1.00	Director	$0	$0	$0
MARTY BRANIFF	DIRECTOR	1.00	Director	$0	$0	$0
ANNE CHOGNARD	DIRECTOR	1.00	Director	$0	$0	$0
ELAINE COLE	DIRECTOR	1.00	Director	$0	$0	$0
DEVENDRA CONTRACTOR	DIRECTOR	1.00	Director	$0	$0	$0
KAREN DOMENICI	DIRECTOR	1.00	Director	$0	$0	$0
KAREN DURKOVICH	DIRECTOR	1.00	Director	$0	$0	$0
ARDITH EICHER	DIRECTOR	1.00	Director	$0	$0	$0
PHILIP FIMMANO	DIRECTOR	1.00	Director	$0	$0	$0
JIM GARCIA	DIRECTOR	1.00	Director	$0	$0	$0
MAGGIE HANSON-MUSE	DIRECTOR	1.00	Director	$0	$0	$0
SARAH HOROWITZ	DIRECTOR	1.00	Director	$0	$0	$0
GURMEET KAUR	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER KIMBALL	DIRECTOR	10.00	Director	$0	$0	$0
ANTONIO LOPEZ	DIRECTOR	1.00	Director	$0	$0	$0
ERIC MINDLING	DIRECTOR	1.00	Director	$0	$0	$0
MIKE MULLINS	DIRECTOR	1.00	Director	$0	$0	$0
MAKENZIE MUELLER	DIRECTOR	1.00	Director	$0	$0	$0
JUDITH PELHAM	SECRETARY	2.00	Officer Director	$0	$0	$0
HELENA RIBE	DIRECTOR	2.00	Director	$0	$0	$0
COURTNEY TAYLOR	DIRECTOR	1.00	Director	$0	$0	$0
CHARLOTTE WHITMORE	DIRECTOR	1.00	Director	$0	$0	$0
MELISSA MANN END 072024	CEO	40.00	Officer	$105,891	$15,671	$121,562
JONI PARMAN BEGAN 072024	INTERIM CEO	40.00	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
2024	No data	No data	No data	No data
2023	$2,406,701	$2,362,088	$7,751,961	$44,613
2022	$3,982,562	$2,183,465	$7,523,511	$1,799,097
2021	$2,369,984	$1,665,559	$6,076,906	$704,425
2020	$2,074,127	$1,221,678	$5,340,983	$852,449
2019	$3,905,488	$3,184,245	$4,267,375	$721,243

INTERNATIONAL FOLK ART ALLIANCE INC DBA IFAM