FESTIVAL OF CHEER INC

EIN: 813492217 501(c)(3)

DEWEY BEACH, DE

Total Revenue
$668,503
Total Expenses
$494,679
Total Assets
$633,363
Net Assets
$479,027
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
DE
Principal Officer
HENRY ROSENBERG
Phone
3022495304
Tax Period
2019-01-01 to 2019-12-31

FESTIVAL OF CHEER INC, founded in 2016, is a small nonprofit that reported $669K in total revenue in fiscal year 2019. Revenue decreased 10% compared to the prior year. The organization ran a surplus of $174K, a strong 26% operating margin.

Mission

FESTIVAL OF CHEER, INC. ENRICHES LIVES THROUGHOUT THE MID-ATLANTIC REGION BY CREATING CULTURAL EVENTS AND HEALTH RELATED ACTIVITIES THROUGHOUT THE DELAWARE BEACH RESORT AREA AND INCREASING PHILANTHROPIC SUPPORT FOR ORGANIZATIONS SUPPORTING THE NEEDS OF THOSE RESIDING IN AND VISITING SUSSEX COUNTY, DELAWARE. THE SPECIFIC OBJECTIVES ARE: 1.) TO PRODUCE AN ANNUAL HOLIDAY FESTIVAL FOCUSING ON ARTS AND ENTERTAINMENT, DINING, AND HEALTH AND WELLNESS; 2.) TO COLLABORATE WITH VARIOUS ORGANIZATIONS TO CREATE AUXILIARY FUNDRAISING EVENTS; 3.) TO PROVIDE OPPORTUNITIES FOR PARTICIPANTS TO ENGAGE IN RECREATIONAL AND COMPETITIVE ATHLETIC AND CULTURAL EVENTS; 4.) TO SUPPORT THE COMMUNITY VIA THE FESTIVAL OF CHEER COMMUNITY INVESTMENT FUND, WHICH AWARDS FINANCIAL SUPPORT TO ORGANIZATIONS FOCUSED ON IMPROVING THE LIVES OF INDIVIDUALS RESIDING IN SUSSEX COUNTY; AND 5.) TO SUPPORT THE COMMUNITY VIA THE FESTIVAL OF CHEER CARING HANDS FUND, WHICH AWARDS FINACIAL SUPPORT TO THOSE EXPERIENCING HARDSHIP.

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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%)

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Financial Overview (2019)

Revenue Breakdown

Contributions & Grants $212,444
Program Service Revenue $456,059
Investment Income $0
Other Revenue $0
TOTAL REVENUE $668,503

Expense Breakdown

Grants Paid $4,500
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $491,133
Other Expenses $490,179
TOTAL EXPENSES $494,679

Year-over-Year Comparison

2019 2018 Change
Revenue $668,503 $739,509 -0.1%
Expenses $494,679 $396,585 +0.2%
Net Income $173,824 $342,924 -0.5%
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

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Liquidity & Cash Position

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Governance

Voting Members
5
Independent Members
5
Employees
N/A
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
4
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRITTANY DANAHY VICE PRESIDE N/A
Officer Director
$0 $0 $0
AMY MAULT SECRETARY N/A
Officer Director
$0 $0 $0
DIANA MONTGOMERY DIRECTOR N/A
Director
$0 $0 $0
HENRY ROSENBERG VP & TREASUR N/A
Officer Director
$0 $0 $0
JOHN SNOW PRESIDENT N/A
Officer 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
2019 $668,503 $494,679 $633,363 $173,824
2018 $739,509 $396,585 $421,927 $342,924
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