MAGFEST 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

2012

Legal Domicile

Principal Officer

DEBRA R LENIK

Phone

4125229067

Tax Period

2023-07-01 to 2024-06-30

MAGFEST INC, founded in 2012, is a community nonprofit in the Arts, Culture & Humanities sector that reported $3.1M in total revenue in fiscal year 2023. Revenue grew 19% year-over-year, indicating healthy expansion. The organization ran a surplus of $467K, a strong 15% operating margin.

Mission

TO EDUCATE THE PUBLIC ABOUT VIDEO GAME MUSIC, ART AND HISTORY; TO PROMOTE PUBLIC APPRECIATION OF VIDEO GAME MUSIC, ART, AND HISTORY; TO UNDERTAKE OTHER CHARITABLE PROJECTS, PROGRAMS, AND ACTIVITIES NOT INCONSISTENT WITH SECTION 501(C)(3) OF THE IRS CODE AND STATE LAW.

Program Service Accomplishments

Program 1

Expenses: $2,083,214 Revenue: $2,771,001

THE MUSIC AND GAMING FESTIVAL IS MAGFEST INC'S FLAGSHIP EVENT, OCCURRING ANNUALLY EACH WINTER. MAGFEST'S LIBRARY OF HISTORIC GAMING CONTENT CONTAINS CONSOLE, ARCADE, AND NON-ELECTRONIC EXHIBITS...

THE MUSIC AND GAMING FESTIVAL IS MAGFEST INC'S FLAGSHIP EVENT, OCCURRING ANNUALLY EACH WINTER. MAGFEST'S LIBRARY OF HISTORIC GAMING CONTENT CONTAINS CONSOLE, ARCADE, AND NON-ELECTRONIC EXHIBITS DATING FROM 1971 TO THE PRESENT. THE MAGFEST EVENT GIVES ITS ATTENDEES THE OPPORTUNITY TO EXPERIENCE GAMING HISTORY. MAGFEST ALSO EXHIBITS VIDEO GAMES CREATED BY INDEPENDENT DEVELOPERS, GIVING THEM A CHANCE TO DEMONSTRATE THEIR WORK AND ACCOMPLISHMENTS. ALSO, MAGFEST FEATURES PERFORMANCES OF MUSIC EITHER ARRANGED FROM OR INSPIRED BY THE MUSIC FEATURED IN VIDEO GAMES. THESE PERFORMANCES PRESERVE THE ART-FORM OF VIDEO GAME MUSIC AND PROMOTE THE APPRECIATION OF IT. MAGFEST PROVIDES A ROBUST SCHEDULE OF PROGRAMMING WHICH INCLUDES INDUSTRIAL EDUCATION PRESENTATIONS FOR ATTENDEES. THE MAGFEST EVENT WAS CREATED AS AN ALTERNATIVE TO VIDEO GAME INDUSTRY EXHIBITIONS, AS THESE EXHIBITIONS PRIMARILY EXIST AS A FOR-PROFIT MEANS OF ADVERTISING. MAGFEST'S MAIN PURPOSE IS TO PROVIDE A VENUE IN WHICH ITS ATTENDEES CAN LEARN ABOUT THE HISTORY AND CULTURE OF GAMING.

Program 2

Expenses: $371,199 Revenue: $219,315

MAGFEST, INC HOLDS SMALL EVENTS IN VARIOUS U.S. CITIES TO PROMOTE THE MAGFEST BRAND, AND TO ALSO BRING OUR MISSION CONTENT TO PEOPLE WHO CANNOT NORMALLY TRAVEL TO OUR FLAGSHIP WINTER EVENT. THESE...

MAGFEST, INC HOLDS SMALL EVENTS IN VARIOUS U.S. CITIES TO PROMOTE THE MAGFEST BRAND, AND TO ALSO BRING OUR MISSION CONTENT TO PEOPLE WHO CANNOT NORMALLY TRAVEL TO OUR FLAGSHIP WINTER EVENT. THESE EVENTS USUALLY FEATURE LIVE PERFORMANCES OF MUSIC ARRANGED FROM/INSPIRED BY VIDEO GAMES, AND ALSO PROVIDES CLASSIC HISTORICAL GAMING EXHIBITS FOR PEOPLE TO EXPERIENCE.

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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 $96,085

Program Service Revenue $2,764,805

Investment Income $78,868

Other Revenue $128,861

TOTAL REVENUE $3,068,619

Expense Breakdown

Grants Paid $47,284

Salaries & Benefits $464,137

Fundraising Expenses $0

Program Expenses $2,454,413

Other Expenses $2,090,227

TOTAL EXPENSES $2,601,648

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,068,619	$2,580,630	+0.2%
Expenses	$2,601,648	$1,910,334	+0.4%
Net Income	$466,971	$670,296	-0.3%

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

1700

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

$81,807

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
VERONICA CHRISTIE	PRESIDENT	10.00	Director	$0	$0	$0
LEON VAN DER GOETZ	SECRETARY	10.00	Director	$0	$0	$0
JARRETT BURNS	TREASURER	10.00	Director	$0	$0	$0
ERIC POCH	DIRECTOR	10.00	Director	$0	$0	$0
CARRIE SNYDER	DIRECTOR	10.00	Director	$0	$0	$0
GABRIEL GUTIERREZ	DIRECTOR	10.00	Director	$0	$0	$0
LAUREN SCHWARTZ	DIRECTOR	10.00	Director	$0	$0	$0
GILLIAN WEBB	DIRECTOR	10.00	Director	$0	$0	$0
DEBRA ROSE LENIK	EXECUTIVE DIRECTOR	40.00	Officer	$81,807	$0	$81,807

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	$3,068,619	$2,601,648	$2,999,487	$466,971
2022	$133,153	$347,684	$1,861,525	$-214,531
2021	$393,233	$895,919	$371,159	$-502,686
2020	$2,287,029	$2,119,775	$875,935	$167,254
2019	$1,695,070	$1,736,868	$703,021	$-41,798