Multicultural Foodservice and Hospitality Alliance (EIN 364120950) - Form 990 Financial Analysis & Trantor Score

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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

1996

Legal Domicile

Principal Officer

Michelle L Korsmo

Phone

4014616342

Tax Period

2024-01-01 to 2024-12-31

Multicultural Foodservice and Hospitality Alliance, founded in 1996, is a small nonprofit in the Community Improvement sector that reported $864K in total revenue in fiscal year 2024. Revenue fell 45% from the prior year — a significant decline worth monitoring. Expenses of $1.3M exceeded revenue, resulting in a 45% operating deficit.

Mission

To educate and advocate for and connect its members with opportunities to build their cultural intelligence in the foodservice and hospitality industry.

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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 (2024)

Revenue Breakdown

Contributions & Grants $805,964

Program Service Revenue $32,221

Investment Income $0

Other Revenue $25,822

TOTAL REVENUE $864,007

Expense Breakdown

Grants Paid $0

Salaries & Benefits $759,039

Fundraising Expenses $42,488

Program Expenses $905,573

Other Expenses $491,911

TOTAL EXPENSES $1,250,950

Year-over-Year Comparison

	2024	2023	Change
Revenue	$864,007	$1,567,286	-0.4%
Expenses	$1,250,950	$1,265,051	0.0%
Net Income	$-386,943	$302,235	-2.3%

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

$6,327,519

Total Directors

$3,857,681

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michelle Korsmo	President & CEO	1.00	Officer Director	$0	$1,301,039	$3,857,681
Shaun Beard	Chair	2.00	Officer Director	$0	$0	$0
William Kohl	Vice Chair	2.00	Officer Director	$0	$0	$0
Carrie Leishmann	Treasurer	2.00	Officer Director	$0	$0	$0
Max Langenkamp	Director	2.00	Director	$0	$0	$0
Jay Stieber	Director	2.00	Director	$0	$0	$0
Marvin Irby	CAO (until 6/15/24)	1.00	Officer	$0	$669,930	$1,632,677
Eric Ellis	CFO	1.00	Officer	$0	$107,922	$575,256
Gerald Fernandez	President	40.00	Officer	$0	$21,733	$261,905
Andre Howell	Vice President of Operations	40.00	Highest	$0	$49,995	$202,151

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	$864,007	$1,250,950	$1,395,283	$-386,943
2023	$1,567,286	$1,265,051	$1,654,705	$302,235
2022	$1,100,647	$2,976,541	$1,099,914	$-1,875,894
2021	$1,184,233	$1,308,333	$2,892,667	$-124,100
2020	$3,230,340	$885,580	$2,976,847	$2,344,760
2019	$868,012	$1,044,152	$368,970	$-176,140
2018	$911,166	$987,807	$433,059	$-76,641

Multicultural Foodservice and Hospitality Alliance