CEDAR RAPIDS FREEDOM FESTIVAL (EIN 421329035) - 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

1988

Legal Domicile

Principal Officer

RON SLAGLE

Phone

3193658313

Tax Period

2024-10-01 to 2025-09-30

CEDAR RAPIDS FREEDOM FESTIVAL, founded in 1988, is a small nonprofit in the Arts, Culture & Humanities sector that reported $542K in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $650K exceeded revenue, resulting in a 20% operating deficit.

Mission

THE CEDAR RAPIDS FREEDOM FESTIVAL SEEKS TO PROVIDE SAFE, AFFORDABLE, AND FUN ANNUAL EVENTS THAT EMBODY THE SPIRIT OF PATRIOTISM AND A SENSE OF COMMUNITY AND FAMILY.

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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 $303,484

Program Service Revenue $189,837

Investment Income $3,670

Other Revenue $45,122

TOTAL REVENUE $542,113

Expense Breakdown

Grants Paid $0

Salaries & Benefits $176,304

Fundraising Expenses $56,089

Program Expenses $515,368

Other Expenses $473,236

TOTAL EXPENSES $649,540

Year-over-Year Comparison

	2024	2023	Change
Revenue	$542,113	$477,384	+0.1%
Expenses	$649,540	$435,470	+0.5%
Net Income	$-107,427	$41,914	-3.6%

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

100

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

$34,078

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JESSICA MACKEY	PRESIDENT	1.00	Officer Director	$0	$0	$0
RON SLAGLE	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
MEGAN MERRITT	SECRETARY	1.00	Officer Director	$0	$0	$0
JOE WINTERS	TREASURER	1.00	Officer Director	$0	$0	$0
JEFF BRUNSCHEEN	PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
BECKY ECKLEY	DIRECTOR	1.00	Director	$0	$0	$0
DAN MUSSELL	DIRECTOR	1.00	Director	$0	$0	$0
SHELBY VANOUS	DIRECTOR	1.00	Director	$0	$0	$0
SIERRA WOODALL	DIRECTOR	1.00	Director	$0	$0	$0
JENNY TOWNSEND	DIRECTOR	1.00	Director	$0	$0	$0
COADY SIERRA	DIRECTOR	1.00	Director	$0	$0	$0
LINDSEY GAUNITZ	DIRECTOR	1.00	Director	$0	$0	$0
LIZ LONEY	DIRECTOR	1.00	Director	$0	$0	$0
LORI ARMSTRONG	DIRECTOR	1.00	Director	$0	$0	$0
PAUL NELSON	DIRECTOR	1.00	Director	$0	$0	$0
TORRI FREESE	DIRECTOR	1.00	Director	$0	$0	$0
HANNAH COYLE	DIRECTOR	1.00	Director	$0	$0	$0
ANDY WHITING	DIRECTOR	1.00	Director	$0	$0	$0
TONYA PETROZZI	DIRECTOR	1.00	Director	$0	$0	$0
CRAIG VORBA	DIRECTOR	1.00	Director	$0	$0	$0
JESS PETERS	DIRECTOR	1.00	Director	$0	$0	$0
BRITTANY BARNHART	EXECUTIVE DIRECTOR	40.00	Officer	$34,078	$0	$34,078

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
2025	$542,113	$649,540	$150,456	$-107,427
2024	$477,384	$435,470	$243,642	$41,914
2023	$420,308	$474,347	$163,432	$-54,039
2022	$416,931	$473,091	$205,362	$-56,160
2021	$350,320	$378,834	$318,944	$-28,514
2020	$273,892	$195,929	$336,275	$77,963
2019	$461,665	$496,075	$229,567	$-34,410

CEDAR RAPIDS FREEDOM FESTIVAL