Cultures Arts Festivals and Events… - Form 990 Financial Data

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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

2002

Legal Domicile

Principal Officer

Adrienne Nannen

Phone

8148701448

Tax Period

2024-06-01 to 2025-05-31

Cultures Arts Festivals and Events of Erie, founded in 2002, is a small nonprofit in the Arts, Culture & Humanities sector that reported $504K in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year. Expenses of $618K exceeded revenue, resulting in a 23% operating deficit.

Mission

Organized to bring the City of Eries vision to life through fun, engaging events that celebrate our diverse cultures and welcoming, vibrant neighborhoods.

Program Service Accomplishments

Program 1

Expenses: $613,542 Revenue: $0

Community Events for Downtown Erie

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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 $501,171

Program Service Revenue $0

Investment Income $539

Other Revenue $2,253

TOTAL REVENUE $503,963

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $613,542

Other Expenses $618,272

TOTAL EXPENSES $618,272

Year-over-Year Comparison

	2024	2023	Change
Revenue	$503,963	$540,731	-0.1%
Expenses	$618,272	$511,611	+0.2%
Net Income	$-114,309	$29,120	-4.9%

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

Employees

N/A

Volunteers

200

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

$26,306

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Gabi Watson	Executive Director	1.00	Officer	$0	$0	$0
Edward Williams	Treasurer	1.00	Officer	$0	$0	$0
Renee Lamis	President	1.00	Officer	$0	$0	$0
Kat Blair	Secretary	1.00	Officer	$10,743	$0	$10,743
Corey Cook	Director	1.00	Director	$0	$0	$0
Frank DiSalvo	Director	1.00	Director	$0	$0	$0
David Tamulonis	Director	1.00	Director	$0	$0	$0
Sarah Morrison	Director	1.00	Director	$0	$0	$0
Monica Gustin	Director	1.00	Director	$0	$0	$0
Adrienne Nannen	Executive Director	1.00	Officer	$15,563	$0	$15,563

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
2025	$503,963	$618,272	$168,429	$-114,309
2024	$540,731	$511,611	$309,988	$29,120
2023	$646,521	$673,345	$302,572	$-26,824
2022	$115,673	$113,686	$394,199	$1,987
2021	$114,344	$54,915	$259,797	$59,429

Cultures Arts Festivals and Events of Erie