MILWAUKEE WORLD FESTIVAL INC

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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

1965

Legal Domicile

Principal Officer

SARAH PANCHERI

Phone

4142732680

Tax Period

2024-01-01 to 2024-12-31

MILWAUKEE WORLD FESTIVAL INC, founded in 1965, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $70.0M in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year.

Mission

THE CORPORATION SHALL BE A CIVIC ORGANIZATION NOT ORGANIZED FOR PROFIT BUT OPERATED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES INCLUDING IN FURTHERANCE THEREOF, THE PRODUCTION OF AN ANNUAL FESTIVAL IN THE MILWAUKEE METROPOLITAN AREA KNOWN AS SUMMERFEST, THE PRODUCTION OF OTHER EVENTS AND ETHNIC FESTIVALS DURING AN ANNUAL FESTIVAL SEASON DURING THE MONTHS OF MAY THROUGH OCTOBER OF EACH YEAR, ALL OF THE AFOREMENTIONED ACTIVITIES BEING DIRECTED TOWARD PROMOTING AN UNDERSTANDING BY MEMBERS OF THE GENERAL PUBLIC OF DIFFERENT ETHNIC CULTURES, EDUCATING THE GENERAL PUBLIC IN THE HISTORIES AND TRADITIONS OF VARIOUS NATIONALITIES, PROVIDING A SUITABLE SHOWCASE FOR THE PERFORMING ARTS, PROVIDING ACTIVITIES AND RECREATION AVAILABLE TO THE GENERAL PUBLIC, PROMOTING RACIAL AND ETHNIC HARMONY IN THE COMMUNITY, PROMOTING CIVIC PRIDE, AND PROVIDING EMPLOYMENT OPPORTUNITIES FOR THE COMMUNITY'S YOUTH.

Program Service Accomplishments

Program 1

Expenses: $33,671,224 Revenue: $36,146,806

SUMMERFEST IS AN ANNUAL FESTIVAL IN THE MILWAUKEE METROPOLITAN AREA. IT IS THE WORLD'S LARGEST MUSIC FESTIVAL. TOTAL ATTENDANCE WAS 555,925 IN 2024.

Program 2

Expenses: $22,434,364 Revenue: $44,721

THIS CATEGORY REPRESENTS SEASONAL OPERATING REVENUES AND EXPENSES THAT ARE NOT DIRECTLY ATTRIBUTED TO A SPECIFIC EVENT. ADDITIONALLY, IT REPRESENTS OTHER INCOME AND EXPENSE.

Program 3

Expenses: $12,010,466 Revenue: $12,834,295

THIS CATEGORY REPRESENTS ETHNIC AND CULTURAL EVENTS, MUSIC CONCERTS AND OTHER EVENTS INCLUDING WALKS/RUNS FOR CHARITY. TOTAL ATTENDANCE WAS 582,101 IN 2024.

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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 $13,737,346

Program Service Revenue $52,184,136

Investment Income $749,336

Other Revenue $3,321,113

TOTAL REVENUE $69,991,931

Expense Breakdown

Grants Paid $0

Salaries & Benefits $12,104,227

Fundraising Expenses $946,530

Program Expenses $68,119,380

Other Expenses $63,567,692

TOTAL EXPENSES $75,671,919

Year-over-Year Comparison

	2024	2023	Change
Revenue	$69,991,931	$75,418,252	-0.1%
Expenses	$75,671,919	$76,687,189	0.0%
Net Income	$-5,679,988	$-1,268,937	+3.5%

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

2441

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

$886,739

Total Directors

Key Employees

$1,164,495

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARY ELLEN STANEK	CHAIRMAN OF THE BOARD	0.40	Officer Director	$0	$0	$0
TED KELLNER	FIRST VICE PRESIDENT	0.40	Officer Director	$0	$0	$0
CORY NETTLES	SECOND VICE PRESIDENT	0.40	Officer Director	$0	$0	$0
JOANNE ANTON	AT-LARGE BOARD MEMBER	0.40	Director	$0	$0	$0
JOANNE BISCHMANN	AT-LARGE BOARD MEMBER	0.40	Director	$0	$0	$0
GABRIELLE FINLEY-HAZLE	AT-LARGE BOARD MEMBER	0.40	Director	$0	$0	$0
DANA GUTHRIE	AT-LARGE BOARD MEMBER	0.40	Director	$0	$0	$0
CHUCK HARVEY	AT-LARGE BOARD MEMBER	0.40	Director	$0	$0	$0
DAN MINAHAN	AT-LARGE BOARD MEMBER	0.40	Director	$0	$0	$0
JACK SALZWEDEL	AT-LARGE BOARD MEMBER	0.40	Director	$0	$0	$0
TIM SHEEHY	AT-LARGE BOARD MEMBER	0.40	Director	$0	$0	$0
MIKE WHITE	AT-LARGE BOARD MEMBER	0.40	Director	$0	$0	$0
PEGGY WILLIAMS-SMITH	AT-LARGE BOARD MEMBER	0.40	Director	$0	$0	$0
ANNE ZIZZO	AT-LARGE BOARD MEMBER	0.40	Director	$0	$0	$0
MOLLY MODLINSKI	UNITED ETHNIC FESTIVALS REP.	0.40	Director	$0	$0	$0
ERIC RADUE	UNITED ETHNIC FESTIVALS REP.	0.40	Director	$0	$0	$0
LUKE OLSON	UNITED ETHNIC FESTIVALS REP.	0.40	Director	$0	$0	$0
JOAN PRINCE	CITIZEN DESIGNEE BY MAYOR OF MILWAUKEE	0.40	Director	$0	$0	$0
ANDY NUNEMAKER	CITIZEN DESIGNEE BY MILWAUKEE COUNTY EXECUTIVE	0.40	Director	$0	$0	$0
MICHAEL MAISTELMAN	CITIZEN DESIGNEE BY MILWAUKEE COMMON COUNCIL (THRU	0.40	Director	$0	$0	$0
JEFF MUSA	CITIZEN DESIGNEE BY MILWAUKEE COMMON COUNCIL	0.40	Director	$0	$0	$0
JIM WRIGHT	DESIGNATED BY MOLSON COORS BEVERAGE COMPANY	0.40	Director	$0	$0	$0
AARON JAGDFELD	DESIGNATED BY GENERAC POWER SYSTEMS, INC.	0.40	Director	$0	$0	$0
JUD SNYDER	DESIGNATED BY BMO HARRIS BANK, NA	0.40	Director	$0	$0	$0
SARAH PANCHERI	PRESIDENT & CEO (NON VOTING)	45.00	Officer	$428,000	$34,058	$462,058
DON SMILEY	IMMEDIATE PAST PRESIDENT/CEO (NV)	35.00	Officer	$379,583	$45,098	$424,681
PAUL SWEENEY	TREASURER - NON VOTING	0.40	Officer	$0	$0	$0
GREG WESLEY	SECRETARY - NON VOTING	0.40	Officer	$0	$0	$0
HOWARD SOSOFF	CHAIRMAN OF THE BOARD EMERITUS - NON VOTING	0.40	Officer	$0	$0	$0
ZACH HASENSTEIN	VICE PRESIDENT/CFO	45.00	Key Emp	$228,915	$39,211	$268,126
GAYE LITTELL	VP/EXECUTIVE PRODUCER	45.00	Key Emp	$198,471	$22,705	$221,176
JASON STUEWE	VP PLANNING/DEVELOPMENT	45.00	Key Emp	$202,818	$30,219	$233,037
SCOTT ZIEL	VP OF ENTERTAINMENT	45.00	Key Emp	$183,900	$40,940	$224,840
KEVIN CANADY	VP SALES & BUSINESS DEVELOPMENT	45.00	Key Emp	$204,665	$12,651	$217,316
SHAWN WATKINS	INFRASTRUCTURE ENGINEER MANAGER	45.00	Highest	$142,637	$25,473	$168,110
LENA DELEAT	SALES DIRECTOR-SPONSORSHIPS/EVENT DIRECTOR-SF TECH	45.00	Highest	$148,615	$18,309	$166,924
DERRICK HARRIS	DIRECTOR OF SECURITY	45.00	Highest	$142,064	$9,468	$151,532
NICK VOLZ	SOFTWARE ENGINEERING MANAGER	45.00	Highest	$126,652	$23,988	$150,640
JERROD WOODS	SENIOR DIRECTOR OF MARKETING	45.00	Highest	$122,325	$22,536	$144,861

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	$69,991,931	$75,671,919	$94,078,881	$-5,679,988
2024	No data	No data	No data	No data
2023	$75,418,252	$76,687,189	$110,150,946	$-1,268,937
2022	$58,785,504	$68,081,233	$116,347,276	$-9,295,729
2021	$65,443,708	$65,555,725	$106,491,444	$-112,017
2020	$5,773,948	$21,115,166	$107,459,917	$-15,341,218
2019	$53,608,239	$51,423,092	$97,325,120	$2,185,147
2018	$60,430,044	$50,141,485	$93,001,816	$10,288,559