DES MOINES ARTS 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

1998

Legal Domicile

Principal Officer

STEPHEN KING

Phone

0515286493

Tax Period

2023-01-01 to 2023-12-31

DES MOINES ARTS FESTIVAL INC, founded in 1998, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $1.2M in total revenue in fiscal year 2023.

Mission

THE MISSION OF THE DES MOINES ARTS FESTIVAL IS TO ENRICH THE QUALITY OF LIFE IN CENTRAL IOWA BY CREATING AN OPPORTUNITY FOR PEOPLE OF ALL AGES, CULTURES AND BACKGROUNDS TO EMBRACE THE ARTS.

Program Service Accomplishments

Program 1

Expenses: $990,685 Revenue: $223,534

THE DES MOINES ARTS FESTIVAL SPONSORS THE PRODUCTION OF AN ANNUAL THREE-DAY EVENT FEATURING EXHIBITS OF FINE ARTS AND CRAFTS, PERFORMING ARTS, CHILDRENS ACTIVITIES, AND EDUCATIONAL PRESENTATIONS. THE CURRENT YEAR'S FESTIVAL TOOK PLACE JUNE 23-25, 2023, FEATURED 190 ARTISTS, AND ATTRACTED AN ESTIMATED 200,000 GUESTS.

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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 $727,569

Program Service Revenue $223,534

Investment Income $9,000

Other Revenue $205,199

TOTAL REVENUE $1,165,302

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $990,685

Other Expenses $1,132,820

TOTAL EXPENSES $1,132,820

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,165,302	$1,118,131	+0.0%
Expenses	$1,132,820	$1,097,016	+0.0%
Net Income	$32,482	$21,115	+0.5%

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

N/A

Volunteers

405

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

$171,071

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEPHEN KING	EXECUTIVE DI	40.00	Officer	$139,230	$31,841	$171,071
MARQUAS ASHWORTH	DIRECTOR	1.00	Director	$0	$0	$0
CONNIE BOESEN	DIRECTOR	1.00	Director	$0	$0	$0
BARBARA DECKER	DIRECTOR	1.00	Director	$0	$0	$0
CHADEN HALFHILL	DIRECTOR	1.00	Director	$0	$0	$0
KATE HIGHTSHOE-LAMBERT	DIRECTOR	1.00	Director	$0	$0	$0
KRISTINA HUNTSMAN	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS KRAMER	DIRECTOR	1.00	Director	$0	$0	$0
MATTHEW MCKINNEY	DIRECTOR	1.00	Director	$0	$0	$0
CARL VOSS	DIRECTOR	1.00	Director	$0	$0	$0
ANN PRIFTIS	DIRECTOR	1.00	Director	$0	$0	$0
MICHELE WILKIE	DIRECTOR	1.00	Director	$0	$0	$0
SAN WONG	DIRECTOR	1.00	Director	$0	$0	$0
BILL BURMA	CHAIR	1.00	Officer Director	$0	$0	$0
BRIAN LAURENZO	CHAIR ELECT	1.00	Officer Director	$0	$0	$0
MARSHA ALDRIDGE	SECRETARY	1.00	Officer Director	$0	$0	$0
NATALIE TOMARAS	TREASURER	1.00	Officer Director	$0	$0	$0
ROBERT LARSON	IMMEDIATE PA	1.00	Officer 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
2024	No data	No data	No data	No data
2023	$1,165,302	$1,132,820	$389,312	$32,482
2022	$1,118,131	$1,097,016	$356,830	$21,115
2021	$915,406	$862,654	$335,715	$52,752
2020	$604,119	$569,546	$282,963	$34,573
2019	$976,596	$1,093,934	$248,390	$-117,338
2018	$1,118,851	$1,064,720	$365,728	$54,131