Festa Italia Foundation

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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

1997

Legal Domicile

Principal Officer

Joseph Cardinalli

Phone

8316259623

Tax Period

2024-01-01 to 2024-12-31

Festa Italia Foundation, founded in 1997, is a small nonprofit in the Arts, Culture & Humanities sector that reported $399K in total revenue in fiscal year 2024. Revenue surged 37% from the prior year, signaling strong growth momentum. The organization ran a surplus of $97K, a strong 24% operating margin.

Mission

Festa Italia Santa Rosalia Foundation, Inc's main goal is to promote Italian heritage, tradition and culture. Annually the organization plans and implements an Italian cultural celebration held in Monterey, California.

Program Service Accomplishments

Program 1

Expenses: $274,332

Provide the Monterey community with a festival honoring the local fisherman of Monterey, past and present. It is a celebrated event with Italian food, drink and entertainment. The Italian heritage...

Provide the Monterey community with a festival honoring the local fisherman of Monterey, past and present. It is a celebrated event with Italian food, drink and entertainment. The Italian heritage, culture and the romance of Italy of which the City of Monterey was built on is shared with the community.

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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 $19,320

Program Service Revenue $378,100

Investment Income $1,987

Other Revenue $0

TOTAL REVENUE $399,407

Expense Breakdown

Grants Paid $6,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $274,332

Other Expenses $296,003

TOTAL EXPENSES $302,003

Year-over-Year Comparison

	2024	2023	Change
Revenue	$399,407	$291,791	+0.4%
Expenses	$302,003	$262,762	+0.1%
Net Income	$97,404	$29,029	+2.4%

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

400

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
Joseph Cardinalli	President	20.00	Officer	$0	$0	$0
Frank Campo	Vice President	10.00	Officer	$0	$0	$0
Antonia Rucello	Secretary	10.00	Officer	$0	$0	$0
Linda Mancuso	Treasurer	10.00	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	$399,407	$302,003	$527,413	$97,404
2023	$54,446	$25,417	$432,194	$29,029
2022	$101,981	$22,014	$400,982	$79,967
2019	$54,576	$21,107	$330,286	$33,469
2018	$58,430	$33,633	$298,805	$24,797