CLEVELAND CULTURAL SOCIETY INC

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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

2016

Legal Domicile

Principal Officer

TOM NAGEL

Phone

4403480960

Tax Period

2023-07-01 to 2024-06-30

CLEVELAND CULTURAL SOCIETY INC, founded in 2016, is a small nonprofit that reported $138K in total revenue in fiscal year 2023. Revenue surged 72% from the prior year, signaling strong growth momentum. Expenses of $128K left a modest 7% surplus.

Mission

CULTURAL COMMUNITY FUNDRAISING EVENTS IN SUPPORT OF COMMUNITY SERVICE AND CIVIC NON PROFIT ORGANIZATIONS

Program Service Accomplishments

Program 1

Expenses: $15,219

TO SUPPORT AND PROMOTE THE ARTS BY PLANNING, CONDUCTING, DISPLAYING, OR COLLABORATING WITH OTHERS TO PLAN, CONDUCT, OR DISPLAY LIVE MUSICAL, CULTURAL, AND ARTISTIC PERFORMANCES FOR THE GENERAL PUBLIC AT VENUES IN AND AROUND CLEVELAND, OHIO. TO ADVANCE EDUCATION ABOUT EASTERN EUROPEAN CULTURE AND ARTS. TO LESSEN NEIGHBORHOOD TENSIONS BY FOSTERING AN ENVIRONMENT IN THE AREA IN AND AROUND CLEVELAND, OHIO, IN WHICH MUSIC, CULTURE AND THE ARTS CAN THRIVE.

Program 2

Expenses: $113,157

CULTURAL COMMUNITY OKTOBERFEST FUNDRAISING EVENT IN SUPPORT OF COMMUNITY SERVICE AND CIVIC NON PROFIT ORGANIZATIONS INCLUDING SPECIAL NEEDS CHILDREN AND YOUTH GROUPS

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $0

Other Revenue $137,813

TOTAL REVENUE $137,813

Expense Breakdown

Grants Paid $105,483

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $128,376

Other Expenses $22,893

TOTAL EXPENSES $128,376

Year-over-Year Comparison

	2023	2022	Change
Revenue	$137,813	$80,033	+0.7%
Expenses	$128,376	$139,491	-0.1%
Net Income	$9,437	$-59,458	-1.2%

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

N/A

Volunteers

471

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
LAURIE CADWALLADER	SECRETARY	1.00	Officer Director	$0	$0	$0
RICHARD CROFT	TRUSTEE	1.00	Director	$0	$0	$0
PHYLLIS GLAESER	TRUSTEE	1.00	Director	$0	$0	$0
JUSTIN GORSKI	TRUSTEE	1.00	Director	$0	$0	$0
HOWARD LUTZ	TRUSTEE	1.00	Director	$0	$0	$0
TOM NAGEL	PRESIDENT	1.00	Officer Director	$0	$0	$0
ROBERT WAGNER	TREASURER	1.00	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
2024	$137,813	$128,376	$15,970	$9,437
2024	$97,280	$124,433	$38,816	$-27,153
2023	$80,033	$139,491	$16,533	$-59,458
2022	$198,182	$136,066	$65,991	$62,116