FORT SMITH MUSIC AND ARTS FESTIVAL… - Form 990 Financial Data

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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

2015

Legal Domicile

Principal Officer

RICKY B BEAUCHAMP JR

Phone

4797823670

Tax Period

2024-01-01 to 2024-12-31

FORT SMITH MUSIC AND ARTS FESTIVAL INC, founded in 2015, is a small nonprofit in the Arts, Culture & Humanities sector that reported $450K in total revenue in fiscal year 2024. Expenses of $669K exceeded revenue, resulting in a 49% operating deficit.

Mission

OUR MISSION IS TO BRING A DIVERSE CULTURAL AND MUSICAL EXPERIENCE TO OUR REGION. WE ARE DEDICATED TO IMPROVING THE QUALITY OF LIFE AND EXPANDING CULTURAL AWARENESS AMONG LOCAL RESIDENTS. DISCRETIONARY AMOUNTS OF THE PROCEEDS FROM THE FESTIVAL ARE ALLOCATED TOWARDS MULTIPLE SELECTED 501C3 CHARITIES THAT BENEFIT THE AREA.

Program Service Accomplishments

Program 1

Expenses: $669,310 Revenue: $450,240

MUSIC AND ARTS FESTIVAL DEDICATED TO IMPROVING QUALITY OF LIFE AND CULTURAL UNDERSTANDING THROUGH REGIONAL AND NATIONAL MUSIC AND ART. INCOME GENERATED WAS DONATED TO 501C3 CHARITIES IN THE AREA.

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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 $151,670

Program Service Revenue $265,109

Investment Income $33,461

Other Revenue $0

TOTAL REVENUE $450,240

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $669,310

Other Expenses $669,310

TOTAL EXPENSES $669,310

Year-over-Year Comparison

	2024	2023	Change
Revenue	$450,240	$463,659	0.0%
Expenses	$669,310	$803,524	-0.2%
Net Income	$-219,070	$-339,865	-0.4%

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

N/A

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
TRENT GOINS	PRESIDENT	010.00	Officer Director	$0	$0	$0
JIM WEBB	OPERATIONS	005.00	Director	$0	$0	$0
RICKY BEAUCHAMP	VICE PRESIDENT	010.00	Officer Director	$0	$0	$0
MIKE HART	DIRECTOR	004.00	Director	$0	$0	$0
SLOANE HARPER	SECRETARY	005.00	Officer Director	$0	$0	$0
ANDREW HOLLAND	DIRECTOR	004.00	Director	$0	$0	$0
LAUREN PRUITT	DIRECTOR	005.00	Director	$0	$0	$0
NICK MAESTRI	TREASURER	005.00	Officer Director	$0	$0	$0
BROCK REATHER	DIRECTOR	004.00	Director	$0	$0	$0
BROOKE JOHNSON	DIRECTOR	004.00	Director	$0	$0	$0
JEFF TAYLOR	DIRECTOR	004.00	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	$450,240	$669,310	$7,151	$-219,070
2023	$463,659	$803,524	$178,221	$-339,865
2022	$866,530	$844,232	$518,086	$22,298
2021	$698,820	$534,276	$488,414	$164,544
2020	$755,676	$531,744	$323,870	$223,932
2019	$467,626	$378,875	$99,938	$88,751
2018	$381,417	$374,899	$11,187	$6,518

FORT SMITH MUSIC AND ARTS FESTIVAL INC