IMAGES A 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

1976

Legal Domicile

Principal Officer

JENNIFER COOLIDGE

Phone

3864276975

Tax Period

2023-01-01 to 2023-12-31

IMAGES A FESTIVAL OF THE ARTS INC, founded in 1976, is a small nonprofit in the Arts, Culture & Humanities sector that reported $267K in total revenue in fiscal year 2023.

Mission

IMAGES: A FESTIVAL OF THE ARTS, INC. WAS CHARTERED BY THE STATE OF FLORIDA IN 1976 AS A NONPROFIT CULTURAL AND EDUCATIONAL ORGANIZATION DESIGNED TO PRESENT AND PROMOTE THE ARTS OF SOUTHEAST VOLUSIA COUNTY.

Program Service Accomplishments

Program 1

Expenses: $267,092

IMAGES: A FESTIVAL OF THE ARTS, INC. IS ONE OF THE TOP JURIED ART FESTIVALS IN THE SOUTHEAST, AND HAS A 40 YEAR HISTORY DEVOTED TO SERVING THE COMMUNITY AT EVERY LEVEL. THIS ANNUAL OUTDOOR ART...

IMAGES: A FESTIVAL OF THE ARTS, INC. IS ONE OF THE TOP JURIED ART FESTIVALS IN THE SOUTHEAST, AND HAS A 40 YEAR HISTORY DEVOTED TO SERVING THE COMMUNITY AT EVERY LEVEL. THIS ANNUAL OUTDOOR ART FESTIVAL ATTRACTS MORE THAN 200 ARTISTS FROM AROUND THE WORLD SHOWCASING THEIR BEST WORK IN PAINTING, GRAPHICS, PHOTOGRAPHY, JEWELRY, SCULPTURE, GLASS, WOOD, LEATHER, PAPER, CLAY, FIBER, FINE CRAFTS, AND DRAWING AND HAS ATTENDANCE OF MORE THAN 38,000. IMAGES IS HELD IN A COMMUNITY REDEVELOPMENT DISTRICT IN NEW SMYRNA BEACH, ALONG RIVERSIDE PARK AND HISTORIC DOWNTOWN CANAL STREET, AND ATTRACTS CULTURAL TOURISTS TO NEW SMYRNA BEACH, PUMPING THOUSANDS OF DOLLARS INTO THE CITY'S RESTAURANTS, SHOPS AND LODGING.

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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 $134,424

Program Service Revenue $132,668

Investment Income $0

Other Revenue $0

TOTAL REVENUE $267,092

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $267,092

Other Expenses $267,092

TOTAL EXPENSES $267,092

Year-over-Year Comparison

	2023	2022	Change
Revenue	$267,092	$260,385	+0.0%
Expenses	$267,092	$260,385	+0.0%
Net Income	$0	$0	N/A

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

125

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
STEVEN IGOU	DIRECTOR	1.00	Director	$0	$0	$0
GERARD PENDERGAST	DIRECTOR	1.00	Director	$0	$0	$0
ROY HESTER	DIRECTOR	1.00	Director	$0	$0	$0
RUSSELL NORTH	1ST VICE CHAIR	1.00	Officer Director	$0	$0	$0
RON DAVOLI	TREASURER	1.00	Director	$0	$0	$0
MATTHEW AHEARN	DIRECTOR	1.00	Director	$0	$0	$0
JO SINCLAIR	DIRECTOR	1.00	Director	$0	$0	$0
COREY BROWN	2ND CHAIR	1.00	Officer Director	$0	$0	$0
MARK BECKWITH	DIRECTOR	1.00	Director	$0	$0	$0
DOUG MCGINNIS	DIRECTOR	1.00	Director	$0	$0	$0
MARGERY PABST STEINMETZ	DIRECTOR	1.00	Director	$0	$0	$0
JEFF MOORE	DIRECTOR	1.00	Director	$0	$0	$0
DR FRED RAFFA	DIRECTOR	1.00	Director	$0	$0	$0
ABBIE TEAGUE	CHAIR	1.00	Officer Director	$0	$0	$0
JOHN JERONIMO	SECRETARY	1.00	Director	$0	$0	$0
IVAN CASTRO MD	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN HARAN	DIRECTOR	1.00	Director	$0	$0	$0
DR HIRAM POWELL	DIRECTOR	1.00	Director	$0	$0	$0
ANN MARTORANO	DIRECTOR	1.00	Director	$0	$0	$0
NANCY TALLENT	DIRECTOR	1.00	Director	$0	$0	$0
DAVID KOSMAS	DIRECTOR	1.00	Director	$0	$0	$0
NANCY LOWDEN NORMAN	FORMER EXECUTIVE DIRECTOR	40.00		$0	$12,665	$125,665

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	$267,092	$267,092	$154,009	No data
2022	$260,385	$260,385	$142,996	No data
2021	$116,172	$116,172	$135,779	No data
2020	$205,276	$205,276	$142,985	No data
2019	$261,636	$261,636	$123,048	No data
2018	$263,587	$263,587	$121,696	No data