CAFA-THIRD HORIZON 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

2019

Legal Domicile

Principal Officer

ROMOLA LUCAS

Phone

3479153703

Tax Period

2024-01-01 to 2024-12-31

CAFA-THIRD HORIZON INC, founded in 2019, is a small nonprofit in the Arts, Culture & Humanities sector that reported $708K in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $671K left a modest 5% surplus.

Mission

THIRD HORIZON IS DEDICATED TO DEVELOPING, PRODUCING, EXHIBITING AND DISTRIBUTING FILM AND OTHER ART FORMS THAT GIVE VOICE TO STORIES OF THE CARIBBEAN, ITS DIASPORA AND OTHER MARGINALIZED AND UNDERREPRESENTED SPACES IN THE GLOBAL SOUTH.

Program Service Accomplishments

Program 1

Expenses: $423,302 Revenue: $708,329

1) PRODUCTION: THIRD HORIZON SUCCESSFULLY LAUNCHED THE SECOND CYCLE OF ITS PRODUCTION PROJECT SUPPORT INITIATIVE. THE PROGRAM SELECTED THREE (3) FELLOWSMIAMI-BASED CARIBBEAN FILMMAKERSEACH AWARDED AN $11,000 GRANT TO SUPPORT THE DEVELOPMENT OF ORIGINAL SHORT FILMS. IN 2024, $2,000 WAS DISBURSED TO EACH FILMMAKER, WITH THE REMAINING BALANCE SCHEDULED FOR RELEASE IN FISCAL YEAR 2025 2)DISTRIBUTION:THROUGH OUR VIDEO-ON-DEMAND PLATFORM AND EDUCATIONAL LICENSING INITIATIVES, THIRD HORIZON DISTRIBUTION SUPPORTED OVER 100 FILMMAKERS IN 2024. THE ORGANIZATION RECEIVED A $90,000 PROGRAM GRANT TO REVAMP THE ONLINE PLATFORM AND EXPAND ITS REACH AND FUNCTIONALITY. WHILE NO NEW TITLES WERE ADDED DUE TO THE UPGRADE PROCESS, THIRD HORIZON SECURED THIRD-PARTY LICENSING SALES TOTALING APPROXIMATELY $4,800 DURING THE YEAR. 3)EXHIBITION:IN MAY 2024, THIRD HORIZON HOSTED ITS FOUR-DAY ANNUAL FILM FESTIVAL IN MIAMI. THE FESTIVAL FEATURED 39 FILMS BY 37 FILMMAKERS ACROSS TWO VENUES AND WELCOMED APPROXIMATELY 2,190 IN-PERSON ATTENDEES. THE VIRTUAL COMPONENT RAN FOR SEVEN DAYS AND RECORDED 183 TOTAL VIEWS. IN ADDITION TO THE ANNUAL FESTIVAL, THIRD HORIZON ORGANIZED MULTIPLE SCREENINGS IN MIAMI AND NEW YORK, SHOWCASING 19 FILMS BY 20 PRINCIPAL ARTISTS TO A COMBINED AUDIENCE OF OVER 1,100 ATTENDEES.

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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 $665,469

Program Service Revenue $42,860

Investment Income $0

Other Revenue $0

TOTAL REVENUE $708,329

Expense Breakdown

Grants Paid $0

Salaries & Benefits $176,530

Fundraising Expenses $48,850

Program Expenses $423,302

Other Expenses $445,146

TOTAL EXPENSES $670,526

Year-over-Year Comparison

	2024	2023	Change
Revenue	$708,329	$602,230	+0.2%
Expenses	$670,526	$519,174	+0.3%
Net Income	$37,803	$83,056	-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

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

$173,779

Total Directors

$176,529

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROMOLA LUCAS	EXECUTIVE DIRECTOR	30.00	Officer Director	$74,498	$0	$74,498
JONATHAN ALI	PROGRAM DIRECTOR	12.00	Officer Director	$36,500	$0	$36,500
NICOLE HECTOR-JACKMAN	DISTRIBUTION DIRECTOR	12.00	Officer Director	$20,090	$0	$20,090
YAPHET JACKMAN	PRODUCTION DIRECTOR	12.00	Officer Director	$20,073	$0	$20,073
THEMBA BHEBHE	BOARD DIRECTOR	4.00	Officer Director	$9,703	$0	$9,703
CHLOE WALTERS-WALLACE	BOARD SECRETARY	1.00	Officer Director	$8,915	$0	$8,915
KEISHA RAE-WITHERSPOON	VICE CHAIRPERSON	1.00	Officer Director	$4,000	$0	$4,000
JASON F JEFFERS	CHAIRPERSON	8.00	Director	$2,750	$0	$2,750
LAUREN MONZON	BOARD DIRECTOR	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	$708,329	$670,526	$367,677	$37,803
2023	$602,230	$519,174	$322,774	$83,056
2022	$432,501	$538,372	$240,118	$-105,871
2021	$197,884	$342,860	$345,589	$-144,976
2020	$561,139	$118,785	$490,405	$442,354