ISLAND TIME MUSIC FESTIVAL (EIN 813554790) - Form 990 Financial Analysis & Trantor Score

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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

Legal Domicile

Principal Officer

SHELEE CORNILSEN

Phone

5303011090

Tax Period

2024-01-01 to 2024-12-31

ISLAND TIME MUSIC FESTIVAL is a micro nonprofit in the Public & Societal Benefit sector that reported $13K in total revenue in fiscal year 2024. Revenue fell 57% from the prior year — a significant decline worth monitoring. Expenses of $41K exceeded revenue, resulting in a 205% operating deficit.

Mission

SELLING TICKETS FOR FESTIVAL HELD IN FEB TO IMPROVE LIFEIN ISLA

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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 $3,583

Program Service Revenue $0

Investment Income $0

Other Revenue $9,911

TOTAL REVENUE $13,494

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $116,806

Other Expenses $41,204

TOTAL EXPENSES $41,204

Year-over-Year Comparison

	2024	2023	Change
Revenue	$13,494	$31,412	-0.6%
Expenses	$41,204	$45,456	-0.1%
Net Income	$-27,710	$-14,044	+1.0%

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

N/A

Independent Members

N/A

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

Total Directors

$12,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROB GOTH	TREASURER/CO-CHAIR	5.00	Director	$0	$0	$0
SKIP BISHOP	DIRECTOR	5.00	Director	$0	$0	$0
TYLOR BAILEY	AUCTION COORDINATOR	5.00	Director	$0	$0	$0
MARK DIXON	ISLAND OPERATIONS	5.00	Director	$0	$0	$0
LINDSAY LAWLER	SPONSOR COORDINATOR	5.00	Director	$0	$0	$0
SHELEE CORNILSEN	COORDINATOR	5.00	Director	$12,000	$0	$12,000
STEVE MARTINEZ	ISLAND CO-OPERATIONS	5.00	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
2025	No data	No data	No data	No data
2024	$13,494	$41,204	$18,482	$-27,710
2020	$31,110	$67,319	$154,891	$-36,209
2019	$112,616	$63,097	$191,100	$49,519
2018	$116,168	$44,307	$141,581	$71,861

ISLAND TIME MUSIC FESTIVAL