NORTH CAROLINA FOLK FESTIVAL (EIN 824363298) - 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

Formation Year

2017

Legal Domicile

Principal Officer

JODEE RUPPEL

Phone

3362988115

Tax Period

2023-01-01 to 2023-12-31

NORTH CAROLINA FOLK FESTIVAL, founded in 2017, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.0M in total revenue in fiscal year 2023. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $1.2M exceeded revenue, resulting in a 17% operating deficit.

Mission

THE NORTH CAROLINA FOLK FESTIVAL HONORS, CELEBRATES, AND SHARES THE MEANINGFUL WAYS IN WHICH COMMUNITIES EXPRESS THEIR CREATIVITY AND CULTURAL TRADITIONS THROUGH MUSIC, DANCE, FOOD, CRAFTS AND OTHER FOLK ARTS TO ENHANCE APPRECIATION OF DIVERSE TRADITIONS AND CONTRIBUTE TO COMMUNITY VIBRANCY AND INCLUSIVITY.

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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 $878,259

Program Service Revenue $160,485

Investment Income $1,459

Other Revenue $-10,032

TOTAL REVENUE $1,030,171

Expense Breakdown

Grants Paid $0

Salaries & Benefits $294,974

Fundraising Expenses $16,880

Program Expenses $843,352

Other Expenses $912,041

TOTAL EXPENSES $1,207,015

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,030,171	$1,314,065	-0.2%
Expenses	$1,207,015	$1,236,250	0.0%
Net Income	$-176,844	$77,815	-3.3%

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

621

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

$85,974

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARIA GONZALEZ	VICE CHAIR	1.00	Officer Director	$0	$0	$0
BARBAR RUBY	TREASURER	1.00	Officer Director	$0	$0	$0
VICTORIA MILSTEIN	SECRETARY	1.00	Officer Director	$0	$0	$0
DINA COKER	DIRECTOR	1.00	Director	$0	$0	$0
RAY COVINGTON	DIRECTOR	1.00	Director	$0	$0	$0
TINA FIRESHEETS	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN H GRAY	DIRECTOR	1.00	Director	$0	$0	$0
LALENJA HARRINGTON	DIRECTOR	1.00	Director	$0	$0	$0
DENNY KELLY	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT POMPEY	DIRECTOR	1.00	Director	$0	$0	$0
JOSE A SANDOVAL	DIRECTOR	1.00	Director	$0	$0	$0
WAIYI TSE	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS WHITE	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS WILSON	DIRECTOR	1.00	Director	$0	$0	$0
AMY GROSSMAN	PRESIDENT/CEO	40.00	Officer	$85,974	$0	$85,974

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	No data	No data	No data	No data
2023	$1,030,171	$1,207,015	$227,577	$-176,844
2022	$1,314,065	$1,236,250	$273,879	$77,815
2021	$1,111,627	$1,058,252	$223,808	$53,375
2021	$1,111,627	$1,058,252	$223,808	$53,375
2020	$437,752	$659,670	$280,924	$-221,918

NORTH CAROLINA FOLK FESTIVAL