SommFoundation

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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

2003

Legal Domicile

Principal Officer

Thomas Price

Phone

3035880606

Tax Period

2024-01-01 to 2024-12-31

SommFoundation, founded in 2003, is a small nonprofit in the Education sector that reported $402K in total revenue in fiscal year 2024.

Mission

THE PURPOSE OF THE SommFoundation IS TO PROVIDE SCHOLARSHIPS TO ENCOURAGE IMPROVED STANDARDS OF BEVERAGE KNOWLEDGE AND SERVICE IN HOTELS AND RESTAURANTS. THE SommFoundation WILL FUND THE EDUCATIONAL ENDEAVORS OF THOSE INDIVIDUALS IN THE SERVICE OF WINE, SPIRITS, AND OTHER ALCOHOLIC BEVERAGES WHO ARE SEEKING TO REACH THE HIGHEST LEVEL OF PROFICIENCY AND KNOWLEDGE IN THE PROFESSION BY PURSUING THE EDUCATIONAL COURSEWORK NECESSARY TO ATTAIN THE STATUS OF MASTER SOMMELIER.

Program Service Accomplishments

Program 1

Expenses: $163,364 Revenue: $299,835

EVENTS - THE SOMMFOUNDATION HOSTS VARIOUS FUNDRAISING EVENTS THROUGHOUT THE YEAR. THE PURPOSE OF THESE EVENTS ARE TO ENCOURAGE IMPROVED STANDARDS OF BEVERAGE KNOWLEDGE.BELOW IS THE LIST OF FUNDRAISER EVENTS: Rudd Foundation Patron Foundation SommGeo Gulbronsen Aspen Art Crush Boulder Burgundy Festival

Program 2

Expenses: $28,436 Revenue: $105,047

SCHOLARSHIP GRANTS - THE PURPOSE OF THE SOMMFOUNDATION IS TO PROVIDE SCHOLARSHIPS TO ENCOURAGE IMPROVED STANDARDS OF BEVERAGE KNOWLEDGE AND SERVICE IN HOTELS AND RESTAURANTS. THE SOMMFOUNDATION WILL FUND THE EDUCATIONAL ENDEAVORS OF THOSE INDIVIDUALS IN THE SERVICE OF WINE, SPIRITS, AND OTHER ALCOHOLIC BEVERAGES WHO ARE SEEKING TO REACH THE HIGHEST LEVEL OF PROFICIENCY AND KNOWLEDGE IN THE PROFESSION BY PURSUING THE EDUCATIONAL COURSEWORK NECESSARY TO ATTAIN THE STATUS OF MASTER SOMMELIER.

Program 3

Expenses: $6,099

UNIVERSITY COURSE EXPENSE - IN KEEPING WITH THE PURPOSE TO IMPROVE THE STANDARDS OF BEVERAGE KNOWLEDGE THE SOMMFOUNDATION CONDUCTS COURSES FOR GRADUATING SENIORS AT FOUR-YEAR UNIVERSITIES. THESE...

UNIVERSITY COURSE EXPENSE - IN KEEPING WITH THE PURPOSE TO IMPROVE THE STANDARDS OF BEVERAGE KNOWLEDGE THE SOMMFOUNDATION CONDUCTS COURSES FOR GRADUATING SENIORS AT FOUR-YEAR UNIVERSITIES. THESE COURSES ARE UNDERWRITTEN BY THE SOMMFOUNDATION. INSTRUCTORS CONSIST OF SOMMELIERS WHO VOLUNTEER THEIR TIME. EXPENSES INCURRED BY THE SOMMFOUNDATION INCLUDE TEXT BOOKS FOR THE STUDENTS, WINE FOR THE CLASSES, AND TRAVEL, HOTEL, AND MEALS FOR THE VOLUNTEER INSTRUCTORS.

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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 $122,547

Program Service Revenue $299,835

Investment Income $0

Other Revenue $-19,912

TOTAL REVENUE $402,470

Expense Breakdown

Grants Paid $28,436

Salaries & Benefits $167,536

Fundraising Expenses $21,667

Program Expenses $197,899

Other Expenses $244,486

TOTAL EXPENSES $440,458

Year-over-Year Comparison

	2024	2023	Change
Revenue	$402,470	$395,778	+0.0%
Expenses	$440,458	$523,158	-0.2%
Net Income	$-37,988	$-127,380	-0.7%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Carlin Karr	Director	0.20	Director	$0	$0	$0
Shilah Salmon	Director	0.20	Director	$0	$0	$0
Thomas Price	Chairman	1.00	Officer Director	$0	$0	$0
Larissa Dubose	Director	0.20	Director	$0	$0	$0
Ashley Hausman	Director	0.20	Director	$0	$0	$0
Tye Tavaras	Director	0.20	Director	$0	$0	$0
Stephanie Caraway	Director	0.20	Director	$0	$0	$0
Jesse Katz	Director	0.20	Director	$0	$0	$0
Tony Busalacchi	Director	0.20	Director	$0	$0	$0
James Lechner	Director	0.20	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	$402,470	$440,458	$189,912	$-37,988
2023	$395,778	$523,158	$224,850	$-127,380
2022	$390,392	$409,896	$350,451	$-19,504
2021	$113,663	$301,028	$366,085	$-187,365
2020	$165,884	$404,949	$582,121	$-239,065
2019	$434,994	$497,391	$792,704	$-62,397
2018	$-32,290	$530,055	$857,359	$-562,345