GREAT RIVER CARNIVAL ASSOCIATION

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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

1931

Legal Domicile

Principal Officer

ED GALFSKY

Phone

9014582500

Tax Period

2024-08-01 to 2025-07-31

GREAT RIVER CARNIVAL ASSOCIATION, founded in 1931, is a small nonprofit that reported $552K in total revenue in fiscal year 2024.

Mission

TO ENGAGE CONTINUOUSLY IN SUCH ACTIVITIES AND PROGRAMS WHICH PROMOTE THE DEVELOPMENT OF MEMPHIS AND THE MID-SOUTH, TO SUPPORT THE REGION'S COMMERCIAL AND INDUSTRIAL BASE, AND TO HOLD ANNUALLY A CARNIVAL CELEBRATION IN HONOR OF THE REGION AND ITS PRINCIPAL ASSET - THE MISSISSIPPI RIVER.

Program Service Accomplishments

Program 1

Expenses: $462,667 Revenue: $45,597

EXPENSES RELATE PRIMARILY TO PAGEANTS, BALLS, AND BANQUETS HELD DURING THE ANNUAL CELEBRATION OF CARNIVAL.

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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 $506,226

Program Service Revenue $45,597

Investment Income $408

Other Revenue $0

TOTAL REVENUE $552,231

Expense Breakdown

Grants Paid $0

Salaries & Benefits $183,775

Fundraising Expenses $0

Program Expenses $462,667

Other Expenses $383,118

TOTAL EXPENSES $566,893

Year-over-Year Comparison

	2024	2023	Change
Revenue	$552,231	$538,165	+0.0%
Expenses	$566,893	$525,706	+0.1%
Net Income	$-14,662	$12,459	-2.2%

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

$160,938

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JENNIE ROBBINS	PRESIDENT	0.50	Officer Director	$0	$0	$0
NEELY MALLORY IV	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
CHASE CARLISLE	SECOND VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
CURT GRIFFIN	TREASURER	0.50	Officer Director	$0	$0	$0
DOUG WEISSINGER	GENERAL COUNSEL	0.00	Director	$0	$0	$0
CHIP CAMPBELL	CHAIRMAN	0.00	Officer Director	$0	$0	$0
ERIC BALLENTINE	DIRECTOR	0.00	Director	$0	$0	$0
BOB BERRY	DIRECTOR	0.00	Director	$0	$0	$0
JACOB BIDDLE	DIRECTOR	0.00	Director	$0	$0	$0
TODD BROWN	DIRECTOR	0.00	Director	$0	$0	$0
FLOY COLE	DIRECTOR	0.00	Director	$0	$0	$0
ABBAY CURTIS	DIRECTOR	0.00	Director	$0	$0	$0
LAURA DEARMAN	DIRECTOR	0.00	Director	$0	$0	$0
PAT DEMERE	DIRECTOR	0.00	Director	$0	$0	$0
AMY DUDEK	DIRECTOR	0.00	Director	$0	$0	$0
MARLON FOSTER	DIRECTOR	0.00	Director	$0	$0	$0
JOHN GOGGANS	DIRECTOR	0.00	Director	$0	$0	$0
DAWN GRAETER	DIRECTOR	0.00	Director	$0	$0	$0
KIRK JOHNSTON	DIRECTOR	0.00	Director	$0	$0	$0
WORTH JONES	DIRECTOR	0.00	Director	$0	$0	$0
KEVIN KIMERY	DIRECTOR	0.00	Director	$0	$0	$0
HUGH MALLORY	DIRECTOR	0.00	Director	$0	$0	$0
JULIA OWEN	DIRECTOR	0.00	Director	$0	$0	$0
VAN RABY	DIRECTOR	0.00	Director	$0	$0	$0
MARTHA ROBERTSON	DIRECTOR	0.00	Director	$0	$0	$0
GREG SONES	DIRECTOR	0.00	Director	$0	$0	$0
VAUGHAN STEWART	DIRECTOR	0.00	Director	$0	$0	$0
PATTY WELCH	DIRECTOR	0.00	Director	$0	$0	$0
ABBIE WILLIAMS	DIRECTOR	0.00	Director	$0	$0	$0
ED GALFSKY	EXECUTIVE DIRECTOR	35.00	Officer	$160,938	$0	$160,938

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	$552,231	$566,893	$268,874	$-14,662
2024	$538,165	$525,706	$324,793	$12,459
2023	$440,831	$504,392	$425,390	$-63,561
2022	$825,955	$578,753	$506,110	$247,202
2019	$495,637	$458,524	$418,791	$37,113
2018	$442,845	$428,637	$367,822	$14,208