SPOLETO FESTIVAL USA INC (EIN 570660848) - Form 990 Financial Analysis & Trantor Score

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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

1977

Legal Domicile

Principal Officer

BRENT DICKMAN

Phone

8437222764

Tax Period

2023-09-01 to 2024-08-31

SPOLETO FESTIVAL USA INC, founded in 1977, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $11.2M in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion.

Mission

SPOLETO RUNS A 17-DAY, INTERNATIONALLY ACCLAIMED, PERFORMING ARTS FESTIVAL EACH SPRING IN CHARLESTON, SC. ARTISTS FROM AROUND THE WORLD PRESENT A BROAD ARRAY OF DANCE, OPERA, MUSIC, AND THEATER IN MULTIPLE VENUES THROUGHOUT THE CITY.

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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 $6,088,315

Program Service Revenue $3,667,369

Investment Income $876,702

Other Revenue $564,332

TOTAL REVENUE $11,196,718

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,101,882

Fundraising Expenses $1,040,077

Program Expenses $7,514,595

Other Expenses $7,020,053

TOTAL EXPENSES $11,121,935

Year-over-Year Comparison

	2023	2022	Change
Revenue	$11,196,718	$9,561,997	+0.2%
Expenses	$11,121,935	$10,503,767	+0.1%
Net Income	$74,783	$-941,770	-1.1%

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

348

Volunteers

250

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

$472,976

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MR DEAN PORTER ANDREWS	DIRECTOR	0.30	Director	$0	$0	$0
MRS KATHARINE I BACHMANN	DIRECTOR	0.30	Director	$0	$0	$0
MR STEVEN D BALZER	DIRECTOR	0.30	Director	$0	$0	$0
MR LEE BELL	DIRECTOR	0.30	Director	$0	$0	$0
MRS ROBIN COLES	DIRECTOR	0.30	Director	$0	$0	$0
MR HARRY H FRAMPTON III	DIRECTOR	0.30	Director	$0	$0	$0
MS M RUSSELL HOLLIDAY JR	DIRECTOR	0.30	Director	$0	$0	$0
DR EDDIE L IRIONS JR	DIRECTOR	0.30	Director	$0	$0	$0
MRS ELIZABETH P MACLEOD	DIRECTOR	0.30	Director	$0	$0	$0
MR MARK MUNN	DIRECTOR	0.30	Director	$0	$0	$0
MS RHONDA MUIR	DIRECTOR	0.30	Director	$0	$0	$0
MRS ANNE BULLOCK PERPER	DIRECTOR	0.30	Director	$0	$0	$0
MRS NICOLE RUBIN	DIRECTOR	0.30	Director	$0	$0	$0
MRS CYNTHIA ANNE SOLOMON	DIRECTOR	0.30	Director	$0	$0	$0
MRS ELIZABETH H SULLIVAN	DIRECTOR	0.30	Director	$0	$0	$0
MR CHARLES TOLBERT	DIRECTOR	0.30	Director	$0	$0	$0
MR C DOUGLAS WARNER	DIRECTOR	0.30	Director	$0	$0	$0
MS PALMER WEISS	DIRECTOR	0.30	Director	$0	$0	$0
MRS ALICIA MULLEN GREGORY	CHAIR	1.00	Officer Director	$0	$0	$0
MS JUDITH N BATTY	SECRETARY	1.00	Officer Director	$0	$0	$0
MR MICHAEL C TARWATER	TREASURER	1.00	Officer Director	$0	$0	$0
MR PHILLIP D SMITH	PRESIDENT	1.00	Officer Director	$0	$0	$0
MR RICHARD W CHISHOLM	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
MS REBECCA W DARWIN	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
MR GARY T DICAMILLO	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
DR ELIZABETH A FLEMING	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
PRESIDENT ANDREW T HSU	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
MS MARTHA RHODES MCLENDON	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
MS MARGIE ANN MORSE	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
MRS CYNTHIA B THOMPSON	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
MRS HELLENA HUNTLEY TIDWELL	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
MR LOREN R ZIFF	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
DR MENA HANNA	GENERAL DIRECTOR	40.00	Officer	$301,968	$7,802	$309,770
MR BRENT DICKMAN	CHIEF FINANCIAL OFFICER	40.00	Officer	$143,075	$20,131	$163,206
MR DEXTER FOXWORTH	CHIEF OPERATING OFFICER	40.00	Highest	$128,136	$16,262	$144,398
MS ELIZABETH KELLER-TRIPP	DIRECTOR OF ARTISTIC PLANN	40.00	Highest	$117,526	$14,450	$131,976
MS RACHEL COKER	CHIEF ADVANCEMENT OFFICER START 8/23	40.00	Highest	$114,481	$6,400	$120,881
MS KATHARINE LAIDLAW	CHIEF MARKETING OFFICER THRU 9/24	40.00	Highest	$174,595	$19,131	$193,726
MS JULIA FORSTER	DIRECTOR OF DEVELOPMENT THRU 7/23	40.00	Highest	$102,318	$15,005	$117,323

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	$11,196,718	$11,121,935	$20,549,344	$74,783
2023	$9,561,997	$10,503,767	$19,173,036	$-941,770
2022	$9,937,116	$11,162,274	$18,626,887	$-1,225,158
2021	$7,325,323	$5,914,617	$23,626,585	$1,410,706
2020	$5,542,557	$4,722,897	$19,416,530	$819,660
2019	$7,815,403	$8,194,250	$17,814,427	$-378,847
2018	$8,213,946	$8,254,488	$17,774,304	$-40,542

SPOLETO FESTIVAL USA INC