ELEGBA FOLKLORE SOCIETY 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

1990

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

ELEGBA FOLKLORE SOCIETY INC, founded in 1990, is a small nonprofit in the Arts, Culture & Humanities sector that reported $329K in total revenue in fiscal year 2023. Revenue surged 41% from the prior year, signaling strong growth momentum. The organization ran a surplus of $65K, a strong 20% operating margin.

Mission

PROVIDES CULTURAL ARTS PROGRAMS FOR FAMILIES INCLUDING FESTIVALS, HISTORY TOURS, VISUAL ARTS AND PERFORMANCES.

Program Service Accomplishments

Program 1

Expenses: $121,813 Revenue: $139,896

ELEGBA FOLKLORE SOCIETYS ARRAY OF ANNUAL FESTIVALS THAT WORK TO FURTHER ITS MISSIONS AND ENRICH THE COMMUNITY, VIA FAMILY ENGAGEMENT. THESE PROGRAMS ARE DISTINCTIVE IN THEIR VARYING PURPOSES TO...

ELEGBA FOLKLORE SOCIETYS ARRAY OF ANNUAL FESTIVALS THAT WORK TO FURTHER ITS MISSIONS AND ENRICH THE COMMUNITY, VIA FAMILY ENGAGEMENT. THESE PROGRAMS ARE DISTINCTIVE IN THEIR VARYING PURPOSES TO HIGHLIGHT LITERARY ARTS, ENGAGE IN HISTORICAL COMMEMORATION, FOLKLIFE EXPLORATION AND CULTURAL AFFINITY, RESPECTIVELY. THROUGH THESE OPPORTUNITEES FOR LEARNING AND ENTERTAINMENT, EDUTAINMENT, FAMILIES GROWIN EXPOSURE AND PRIDE IN CULTURAL HERITAGE.

Program 2

Expenses: $100,629 Revenue: $84,286

ELEGBA FOLKLORE SOCIETYS CULTURAL CENTER SHOWCASES VISUAL ARTS, ARTIFACTS ANDFORMS OF MATERIAL CULTURE WHERE ALL THE PIECES HAVE AN ORIGIN STORY. VISITORSCAN SEE AND COLLECT OBJECTS AND SYMBOLS THAT PROVIDE A CULTURAL CONNECTIONAND A LEARNING OPPORTUNITY THROUGH EXPOSURE. ELEGBA FOLKLORE SOCIETYS CULTURAL CENTER IS A COMMUNITY HUB WHERE PEOPLE EXPECT TO FIND ENRICHING EXPERIENCES FOR THEMSELVES AND THEIR FAMILIES. VISITORS WERE BOTH RESIDENTS AND NON-RESIDENTS. THE SOCIETYS CULTURAL CENTER HAS MAINTAINED ITS LOCATION IN THE CENTER OF THE CITY AND IN THE DOWNTOWN ARTS DISTRICT FOR 28 YEARS. THE SOCIETY INVITES THE PUBLIC TO PROGRAMS SUCH ASDOCUMENTARIES, POETRY READINGS, MUSICAL PROGRAMS AND DISCUSSION GROUPSWHILE STUDENTS OFTEN VISIT TO ENGAGE IN GALLERY TOURS AND TALKS OR ART MAKINGWORKSHOPS. THESE ENGAGEMENTS ALIGN WITH THE ORGANIZATIONS MISSION. THECENTER IS THE ORGANIZATIONS ADMINISTRATIVE HEADQUARTERS.

Program 3

Expenses: $31,778 Revenue: $29,405

THE SOCIETYS PERFORMING COMPANY OF DANCERS, DRUMMERS, SINGERS, SPOKEN WORD ARTISTS AND MASQUERADES APPEARS AT COLLEGES, SCHOOLS, THEATERS, FESTIVALS, CONFERENCES, MUSEUMS, LIBRARIES AND CHURCHES TO PRESENT FROM ITS REPERTOIRE OF CONCERTS, DANCE THEATRE, PERFORMANCE LECTURES AND WORKSHOPS. AUDIENCES AND STUDENTS ARE IMMERSED IN HIGH QUALITY ARTS ENGAGEMENT AND A UNIVERSAL APPEAL THROUGH THE COMPANYS ORIGINAL WORK. THE PERFORMANCES ARE INTERACTIVE AND UNIFYING.

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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 $219,603

Program Service Revenue $109,827

Investment Income $0

Other Revenue $0

TOTAL REVENUE $329,430

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $264,814

Other Expenses $264,814

TOTAL EXPENSES $264,814

Year-over-Year Comparison

	2023	2022	Change
Revenue	$329,430	$233,916	+0.4%
Expenses	$264,814	$244,817	+0.1%
Net Income	$64,616	$-10,901	-6.9%

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

N/A

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

$50,435

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JANINE Y BELL	PRESIDENT ARTISTIC DIRECTOR	40.00	Officer	$50,435	$0	$50,435
DENNIS WINSTON	TREASURER	1.00	Director	$0	$0	$0
LATONYA RICHARDSON	DIRECTOR	1.00	Director	$0	$0	$0
BETH MARSCHAK	DIRECTOR	1.00	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	No data	No data	No data	No data
2023	$329,430	$264,814	$180,830	$64,616
2022	$233,916	$244,817	$116,214	$-10,901
2022	$231,915	$244,817	$114,213	$-12,902
2022	$233,916	$244,817	$116,214	$-10,901
2021	$216,609	$180,836	$127,115	$35,773