NATIONAL BLACK ARTS FESTIVAL INC (EIN 581736780) - 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

1988

Legal Domicile

Phone

4047307315

Tax Period

2024-01-01 to 2024-12-31

NATIONAL BLACK ARTS FESTIVAL INC, founded in 1988, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.1M in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year. Expenses of $1.4M exceeded revenue, resulting in a 29% operating deficit.

Mission

Toexpose,educate,engageandentertainaudiencesaswepresentandsupportartandartistsofAfricandescent.

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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 $949,916

Program Service Revenue $0

Investment Income $0

Other Revenue $125,963

TOTAL REVENUE $1,075,879

Expense Breakdown

Grants Paid $113,500

Salaries & Benefits $554,370

Fundraising Expenses $131,638

Program Expenses $1,039,983

Other Expenses $718,758

TOTAL EXPENSES $1,386,628

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,075,879	$1,228,775	-0.1%
Expenses	$1,386,628	$1,537,893	-0.1%
Net Income	$-310,749	$-309,118	+0.0%

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

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
STEPHANIE OWENS	EXECUTIVE DIRECTOR	40.00		$165,375	$0	$165,375
LISA BONNER	Chair	2.00	Officer Director	$0	$0	$0
CAROLE IRENE SYKES	Vice Chair	2.00	Officer Director	$0	$0	$0
FELICIA MCDADE	Treasurer	2.00	Officer Director	$0	$0	$0
DEMETRIA ALI	Secretary	2.00	Officer Director	$0	$0	$0
BIANCA BLADES	Director	1.00	Director	$0	$0	$0
CECILIA CHEEKS	Director	1.00	Director	$0	$0	$0
JENNIFER CHRISTIAN	Director	1.00	Director	$0	$0	$0
KIMBERLY FISHER	Director	1.00	Director	$0	$0	$0
MALIK W HAKEEM	Director	1.00	Director	$0	$0	$0
FREDRICK HICKS	Director	1.00	Director	$0	$0	$0
MYCHAL JACKSON	Director	1.00	Director	$0	$0	$0
DEREK JOHNSON	Director	1.00	Director	$0	$0	$0
DR TIFFANY RAND	Director	1.00	Director	$0	$0	$0
ANGELA WATTS	Director	1.00	Director	$0	$0	$0
PRESTON WILSON JR	Director	1.00	Director	$0	$0	$0
LEATRICE ELLZY	CEO	40.00	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
2024	$1,075,879	$1,386,628	$508,622	$-310,749
2023	$1,228,775	$1,537,893	$826,172	$-309,118
2022	$1,183,028	$1,108,341	$1,144,933	$74,687
2021	$1,260,210	$917,873	$1,026,989	$342,337
2020	$832,108	$704,984	$750,817	$127,124
2019	$1,440,279	$1,348,254	$575,731	$92,025
2018	$1,258,298	$1,030,011	$439,080	$228,287
2018	$1,258,298	$1,030,011	$439,080	$228,287

NATIONAL BLACK ARTS FESTIVAL INC