GARDEN STATE FILM FESTIVAL

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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

2007

Legal Domicile

Principal Officer

DIANE RAVER

Phone

8779087050

Tax Period

2024-07-01 to 2025-06-30

GARDEN STATE FILM FESTIVAL, founded in 2007, is a small nonprofit in the Arts, Culture & Humanities sector that reported $366K in total revenue in fiscal year 2024. Revenue surged 40% from the prior year, signaling strong growth momentum. Expenses of $316K left a modest 14% surplus.

Mission

PROMOTE FILM ART IN NEW JERSEY

Program Service Accomplishments

Program 1

Expenses: $258,963 Revenue: $205,722

ANNUAL FILM FESTIVAL - SCREENING OF VARIOUS FILMS, WORKSHOPS, PANEL DISCUSSIONS, OPEN TALENT CALL, ALL OF WHICH IS OPEN TO THE PUBLIC. THROUGHOUT THE YEAR THERE ARE SCREENINGS FOR SCHOOLS AND SENIORS

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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 $159,867

Program Service Revenue $205,722

Investment Income $0

Other Revenue $0

TOTAL REVENUE $365,589

Expense Breakdown

Grants Paid $0

Salaries & Benefits $124,095

Fundraising Expenses $0

Program Expenses $258,963

Other Expenses $191,862

TOTAL EXPENSES $315,957

Year-over-Year Comparison

	2024	2023	Change
Revenue	$365,589	$260,283	+0.4%
Expenses	$315,957	$255,386	+0.2%
Net Income	$49,632	$4,897	+9.1%

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

100

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

$30,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LAUREN CONCAR SHEEHY	EXECUTIVE DIRECTOR	1.00	Director	$30,000	$0	$30,000
ERIC ASCALON	CHAIRMAN	1.00	Officer	$0	$0	$0
HEATHER BRITTAIN O'SCANLON	VICE CHAIRMAN	1.00	Officer	$0	$0	$0
STEPHANIE CLINEMAN	SECRETARY	1.00	Officer	$0	$0	$0
DIANE RAVER	TREASURER	1.00	Officer	$0	$0	$0
DAVID ANGSTADT SR	BOARD MEMBER	1.00	Officer	$0	$0	$0
MING CHEN	BOARD MEMBER	1.00	Officer	$0	$0	$0
DAVID HOLTZMAN	BOARD MEMBER	1.00	Officer	$0	$0	$0
JOSEPH SERNIO	BOARD MEMBER	1.00	Officer	$0	$0	$0
BRIAN J SHEEHY SR	BOARD MEMBER	1.00	Officer	$0	$0	$0
DAVID SCHONER JR	BOARD MEMBER	1.00	Officer	$0	$0	$0
ROBIN KAMPF	BOARD MEMBER	1.00	Officer	$0	$0	$0
DOREEN SAYEGH	BOARD MEMBER	1.00	Officer	$0	$0	$0
CHARLENE HORNE	BOARD MEMBER	1.00	Officer	$0	$0	$0
DANIEL BOULOS	BOARD MEMBER	1.00	Officer	$0	$0	$0
ROY FARFEL	BOARD MEMBER	1.00	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
2025	$365,589	$315,957	$92,998	$49,632
2024	$260,283	$255,386	$48,108	$4,897
2023	$349,259	$329,086	$36,955	$20,173
2022	$283,606	$255,352	$31,653	$28,254
2021	$286,641	$238,722	$37,577	$47,919