FRIENDS OF THE FESTIVAL FOUNDATION (EIN 421523771) - 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

2001

Legal Domicile

Principal Officer

MIKE HOFMAN

Phone

7127074510

Tax Period

2022-10-01 to 2023-09-30

FRIENDS OF THE FESTIVAL FOUNDATION, founded in 2001, is a small nonprofit in the Arts, Culture & Humanities sector that reported $338K in total revenue in fiscal year 2022. Expenses of $310K left a modest 8% surplus.

Mission

FRIENDS OF THE FESTIVAL FOUNDATION EXISTS FOR THE PURPOSE OF PROMOTING, DEVELOPING, ENHANCING, AND SUPPORTING THE ANNUAL ORANGE CITY TULIP FESTIVAL, AN EVENT THAT PROMOTES THE DUTCH HERITAGE OF THE COMMUNITY.

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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 (2022)

Revenue Breakdown

Contributions & Grants $60,305

Program Service Revenue $276,162

Investment Income $1,090

Other Revenue $0

TOTAL REVENUE $337,557

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $309,725

Other Expenses $309,725

TOTAL EXPENSES $309,725

Year-over-Year Comparison

	2022	2021	Change
Revenue	$337,557	$320,738	+0.1%
Expenses	$309,725	$338,460	-0.1%
Net Income	$27,832	$-17,722	-2.6%

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

N/A

Volunteers

700

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TONY KOLBIE VANDE BRAKE	CHAIRPERSONS	5.00	Officer Director	$0	$0	$0
PAT DANA BRENNEMAN	DIRECTOR	5.00	Director	$0	$0	$0
JENNIFER DROOG	DIRECTOR	5.00	Director	$0	$0	$0
TODD VANDE GRIEND	DIRECTOR	5.00	Director	$0	$0	$0
MIKE HOFMAN	DIRECTOR/TRE	5.00	Officer Director	$0	$0	$0
ERIC RACHEL VAN RAVENHORST	DIRECTOR	5.00	Director	$0	$0	$0
JOHN JOANN WEBER	PAST CHAIRPE	5.00	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	$337,557	$309,725	$148,719	$27,832
2022	$320,738	$338,460	$120,887	$-17,722
2021	$257,127	$259,038	$138,609	$-1,911
2020	$141,362	$122,938	$140,520	$18,424
2019	$219,309	$217,886	$392,919	$1,423
2018	$201,907	$214,971	$391,496	$-13,064

FRIENDS OF THE FESTIVAL FOUNDATION