SIOUX FALLS JAZZ & BLUES SOCIETY

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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

1992

Legal Domicile

Principal Officer

BETH ORMSETH

Phone

6053356101

Tax Period

2022-01-01 to 2022-12-31

SIOUX FALLS JAZZ & BLUES SOCIETY, founded in 1992, is a micro nonprofit that reported $27K in total revenue in fiscal year 2022. Revenue fell 89% from the prior year — a significant decline worth monitoring. Expenses of $55K exceeded revenue, resulting in a 100% operating deficit.

Mission

IT IS THE MISSION OF THE SIOUX FALLS JAZZ AND BLUES SOCIETY TO INCREASE THE AWARENESS OF JAZZ AND BLUES MUSIC IN THE SIOUX FALLS COMMUNITY AND REGION, THROUGH MUSICAL EVENTS AND EDUCATION.

Program Service Accomplishments

Program 1

Expenses: $1,911 Revenue: $0

IN 2022, THE SIOUX FALLS JAZZ & BLUES SOCIETY FOCUSED ON DISSOLUTION. IMPACT FROM THE PANDEMIC AND SUBSEQUENT CHALLENGES WITH FUNDRAISING WERE PRIMARY CONTRIBUTORS TO THE BOARD OF DIRECTORS MAKING...

IN 2022, THE SIOUX FALLS JAZZ & BLUES SOCIETY FOCUSED ON DISSOLUTION. IMPACT FROM THE PANDEMIC AND SUBSEQUENT CHALLENGES WITH FUNDRAISING WERE PRIMARY CONTRIBUTORS TO THE BOARD OF DIRECTORS MAKING THIS DECISION, OFFICIALLY VOTED ON AND APPROVED NOVEMBER 4. THE ONLY PROGRAMMING SFJB SPONSORED WAS PARTICIPATION FOR LOCAL JAZZ MUSICIANS IN THE LEVITT SMITHSONIAN JAZZ MASTER ORCHESTRA PROGRAM. COMPLETED DISSOLUTION ACTIVITIES INCLUDED PAYMENT OF ALL OUTSTANDING LIABILITIES OF THE CORPORATION, AND DISTRIBUTION OF REMAINING CASH ASSETS AND ENDOWMENT TO LIKE CHARITABLE ORGANIZATIONS PER THE BY-LAWS. ALL REQUIRED ARTICLES WERE PROVIDED TO THE SOUTH DAKOTA SECRETARY OF STATE OFFICE, WITH FINAL APPROVAL OF DISSOLUTION FEBRUARY 13, 2023.

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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 $27,436

Program Service Revenue $12

Investment Income $37

Other Revenue $0

TOTAL REVENUE $27,485

Expense Breakdown

Grants Paid $0

Salaries & Benefits $22,635

Fundraising Expenses $0

Program Expenses $1,911

Other Expenses $32,249

TOTAL EXPENSES $54,884

Year-over-Year Comparison

	2022	2021	Change
Revenue	$27,485	$253,840	-0.9%
Expenses	$54,884	$163,196	-0.7%
Net Income	$-27,399	$90,644	-1.3%

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

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

$19,376

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BETH ORMSETH	PRESIDENT	2.50	Officer Director	$0	$0	$0
ERIN BOSCH	VICE PRESIDENT	2.50	Officer Director	$0	$0	$0
MEGAN DEBOER	SECRETARY	2.50	Officer Director	$0	$0	$0
ZACH HADLER	TREASURER	2.50	Officer Director	$0	$0	$0
PETER RONNING	DIRECTOR	1.00	Director	$0	$0	$0
BETH OVERMOE	DIRECTOR	1.00	Director	$0	$0	$0
PETER HOESING	DIRECTOR	1.00	Director	$0	$0	$0
ALEX GILBERT-SCHRAG	EXECUTIVE DIRECTOR	20.00	Officer	$19,376	$0	$19,376

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
2022	$27,485	$54,884	No data	$-27,399
2021	$253,840	$163,196	$100,543	$90,644
2020	$144,047	$98,088	$38,040	$45,959
2019	$451,382	$647,406	$52,279	$-196,024
2018	$608,540	$624,897	$264,478	$-16,357