BIG RAPIDS FESTIVAL OF THE ARTS 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

2015

Legal Domicile

Principal Officer

MARK GIFFORD

Tax Period

2019-07-01 to 2020-06-30

BIG RAPIDS FESTIVAL OF THE ARTS INC, founded in 2015, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $41K in total revenue in fiscal year 2019. Revenue decreased 11% compared to the prior year. Expenses of $37K left a modest 11% surplus.

Mission

SERVE THE BIG RAPIDS AND FERRIS STATE UNIVERSITY COMMUNITIES BY FOSTERING ART, CULTURE AND THE COOPERATIVE SPIRIT. THE FESTIVAL OF THE ARTS' GOALS ARE TO PRESENT EXHIBITIONS, CONCERTS, PERFORMANCES AND EDUCATIONAL ACTIVITIES THAT REPRESENT A WIDE RANGE OF MEDIA, CULTURES, AND TIME PERIODS AS WELL AS DISPLAYING ARTISTIC EXCELLENCE, DIVERSITY OF AESTHETIC TRADITIONS, ATTENTION TO CULTURAL DIVERSITY AND EDUCATIONAL POTENTIAL.

Program Service Accomplishments

Program 1

Expenses: $36,120

FESTIVAL OF THE ARTS IS AN ANNUAL SERIES OF ENTERTAINMENT, EDUCATIONAL AND CULTURAL EVENTS OFFERED DAILY THROUGHOUT FEBRUARY IN BIG RAPIDS. ADMISSION TO THE EVENTS IS FREE ALTHOUGH SOME EVENTS...

FESTIVAL OF THE ARTS IS AN ANNUAL SERIES OF ENTERTAINMENT, EDUCATIONAL AND CULTURAL EVENTS OFFERED DAILY THROUGHOUT FEBRUARY IN BIG RAPIDS. ADMISSION TO THE EVENTS IS FREE ALTHOUGH SOME EVENTS REQUIRE ADVANCE REGISTRATION TO RESERVE SEAT(S). THE FESTIVAL FEATURES A VARIETY OF ART, FILM AND MUSIC PRESENTATIONS, AS WELL AS INTERACTIVE WORKSHOPS AND CONTESTS.

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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 (2019)

Revenue Breakdown

Contributions & Grants $41,393

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $41,393

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $36,120

Other Expenses $36,893

TOTAL EXPENSES $36,893

Year-over-Year Comparison

	2019	2018	Change
Revenue	$41,393	$46,250	-0.1%
Expenses	$36,893	$49,992	-0.3%
Net Income	$4,500	$-3,742	-2.2%

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
MEGAN EPPLEY	BOARD MEMBER	1.00	Director	$0	$0	$0
ED MALLET	BOARD MEMBER	10.00	Director	$0	$0	$0
ROXANNE CULLEN	SECRETARY	5.00	Officer	$0	$0	$0
MARK GIFFORD	CHAIR	1.00	Officer	$0	$0	$0
JERENA KEYS	TREASURER	5.00	Officer	$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
2020	$41,393	$36,893	$13,795	$4,500
2019	$46,250	$49,992	$9,295	$-3,742