COLORADO RESTAURANT ASSOCIATION

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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

1933

Legal Domicile

Principal Officer

SONIA RIGGS

Phone

3038302972

Tax Period

2024-01-01 to 2024-12-31

COLORADO RESTAURANT ASSOCIATION, founded in 1933, is a community nonprofit that reported $3.7M in total revenue in fiscal year 2024.

Mission

THE COLORADO RESTAURANT ASSOCIATION IS THE CHAMPION FOR OUR STATE'S RESTAURANT AND HOSPITALITY INDUSTRY. WE ARE TRUSTED LEADERS FOR OUR COMMUNITY, PROTECTING, SERVING, AND PROMOTING SUCCESS FROM ENTRY LEVEL TO OWNERSHIP.

Program Service Accomplishments

Program 1

Expenses: $243,652

CONVENTION: THE ASSOCIATION HOLDS A CONVENTION WHICH ALLOWS MEMBERS TO LEARN THE LATEST PRODUCTS AND SERVICES THAT SERVE THE RESTAURANT INDUSTRY. IN ADDITION, EDUCATION SESSIONS ARE HELD ON SUBJECTS...

Program 2

Expenses: $554,522

MEMBERSHIP SERVICES: IN ADDITION TO EDUCATION AND KEEPING MEMBERS ABREAST OF CURRENT GOVERNMENT AFFAIRS AFFECTING THEIR BUSINESSES, THE ASSOCIATION PROVIDES A VARIETY OF OTHERS SERVICES TO MEMBERS...

MEMBERSHIP SERVICES: IN ADDITION TO EDUCATION AND KEEPING MEMBERS ABREAST OF CURRENT GOVERNMENT AFFAIRS AFFECTING THEIR BUSINESSES, THE ASSOCIATION PROVIDES A VARIETY OF OTHERS SERVICES TO MEMBERS. THESE SERVICES INCLUDE PROVIDING DISCOUNT PROGRAMS THROUGH ENDORSED VENDORS, HOSTING EVENTS AND MEETINGS TO PROVIDE NETWORKING OPPORTUNITIES, AS WELL AS ASSISTING MEMBER GROUPS LOCALLY IN PRODUCING NETWORKING OPPORTUNITIES.

Program 3

Expenses: $272,903

SPECIAL EVENTS: THE ASSOCIATION HOLDS TWO EVENTS, INDUSTRY SPOTLIGHT AWARDS AND THE LIFETIME ACHIEVEMENT AWARDS, BOTH WHICH HONOR OUTSTANDING INDUSTRY PROFESSIONALS AND OUTSTANDING STAFF WITH...

SPECIAL EVENTS: THE ASSOCIATION HOLDS TWO EVENTS, INDUSTRY SPOTLIGHT AWARDS AND THE LIFETIME ACHIEVEMENT AWARDS, BOTH WHICH HONOR OUTSTANDING INDUSTRY PROFESSIONALS AND OUTSTANDING STAFF WITH APPROXIMATELY 286 AND 120 ATTENDEES, RESPECTIVELY.

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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 $0

Program Service Revenue $2,887,542

Investment Income $219,507

Other Revenue $547,265

TOTAL REVENUE $3,654,314

Expense Breakdown

Grants Paid $20,000

Salaries & Benefits $2,311,258

Fundraising Expenses $0

Program Expenses $2,514,351

Other Expenses $1,256,835

TOTAL EXPENSES $3,588,093

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,654,314	$3,384,704	+0.1%
Expenses	$3,588,093	$3,456,281	+0.0%
Net Income	$66,221	$-71,577	-1.9%

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

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

$376,527

Total Directors

Key Employees

$374,485

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AILEEN REILLY	VICE CHAIR-GOV AFFRS (THRU 10/24)/CHAIR	3.00	Officer Director	$0	$0	$0
MARC STERON	CHAIR (THRU 10/24)/IMMEDIATE PAST CHAIR	3.00	Officer Director	$0	$0	$0
DANIEL RAMIREZ	IMMEDIATE PAST CHAIR (THRU 10/24)	3.00	Officer Director	$0	$0	$0
JASON GUMER	VICE CHAIR-COMMUNICATION (THRU 10/24)/VICE CHAIR	2.00	Officer Director	$0	$0	$0
JASON GANAHL	DIRECTOR (THRU 10/24)/VICE CHAIR-COMMUNICATION	1.00	Officer Director	$0	$0	$0
STEPHANIE TURNER	VICE CHAIR-CONVENTION & EVENTS	2.00	Officer Director	$0	$0	$0
DAVID PATTERSON	VICE CHAIR-MEMBERSHIP	2.00	Officer Director	$0	$0	$0
PHILIPPE FAILYAU	SECRETARY (THRU 10/24)/VICE CHAIR AT LARGE	2.00	Officer Director	$0	$0	$0
PETER HOGLUND	VICE CHAIR-AT LARGE	2.00	Officer Director	$0	$0	$0
DANA QUERY	VICE CHAIR-AT LARGE (THRU 10/24)	2.00	Officer Director	$0	$0	$0
MELISSA BROOKS	VICE CHAIR-CRF	2.00	Officer Director	$0	$0	$0
ANDY QUARM	TREASURER (THRU 10/24)/CONTROLLER	2.00	Officer Director	$0	$0	$0
SAMUEL AGHBASHIAN	CONTROLLER (THRU 10/24)	2.00	Officer Director	$0	$0	$0
CATHERINE COONEY	DIRECTOR (THRU 10/24)/TREASURER	2.00	Officer Director	$0	$0	$0
LAURA MCGINLEY	VICE CHAIR-MEMBERSHIP (THRU 10/24)/SECRETARY	2.00	Officer Director	$0	$0	$0
MARC BRINKERHOFF	VICE CHAIR-CONVENTION & EVENTS (THRU 10/24)/DIR	2.00	Officer Director	$0	$0	$0
CHRIS WEIL	CRF VICE-CHAIR (THRU 10/24)	2.00	Officer Director	$0	$0	$0
DANIEL ASHER	DIRECTOR	1.00	Director	$0	$0	$0
CYNTHIA AYALA	DIRECTOR	1.00	Director	$0	$0	$0
TODD CLARK	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPER DAVIS-MASSEY	DIRECTOR (THRU 10/24)	1.00	Director	$0	$0	$0
MANDI DAVIS	DIRECTOR (THRU 10/24)	1.00	Director	$0	$0	$0
ADAM DEUTSCHMANN	DIRECTOR	1.00	Director	$0	$0	$0
JOSH DINAR	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT DURAN	DIRECTOR (THRU 10/24)	1.00	Director	$0	$0	$0
RYAN FLETTER	DIRECTOR (THRU 10/24)	1.00	Director	$0	$0	$0
KEN FREEMAN	DIRECTOR	1.00	Director	$0	$0	$0
BETH GINBERG	DIRECTOR	1.00	Director	$0	$0	$0
CARRIE HART	DIRECTOR (THRU 10/24)	1.00	Director	$0	$0	$0
ALICIA HARMON	DIRECTOR (THRU 10/24)	1.00	Director	$0	$0	$0
PATRICK HARTNETT	DIRECTOR (THRU 10/24)	1.00	Director	$0	$0	$0
JOE HAYES	DIRECTOR	1.00	Director	$0	$0	$0
PETEY HELM	DIRECTOR	1.00	Director	$0	$0	$0
JEFF HINDMAN	DIRECTOR (THRU 10/24)	1.00	Director	$0	$0	$0
JOHN IMBERGAMO	DIRECTOR (THRU 10/24)	1.00	Director	$0	$0	$0
KATE KAUFMAN	DIRECTOR	1.00	Director	$0	$0	$0
DAN KLEHM	DIRECTOR (THRU 10/24)	1.00	Director	$0	$0	$0
CHRIS LANTER	DIRECTOR	1.00	Director	$0	$0	$0
CHAD LEAGUE	DIRECTOR	1.00	Director	$0	$0	$0
JASON LESSNAU	DIRECTOR	1.00	Director	$0	$0	$0
KRISTIE MANSUR	DIRECTOR	1.00	Director	$0	$0	$0
TORI MATEER	DIRECTOR	1.00	Director	$0	$0	$0
TJ MESSERSCHMITT	DIRECTOR (THRU 10/24)	1.00	Director	$0	$0	$0
TONY MILAZZO	DIRECTOR	1.00	Director	$0	$0	$0
MATT MORGAN	DIRECTOR	1.00	Director	$0	$0	$0
JAMES PARK	DIRECTOR	1.00	Director	$0	$0	$0
ROB RITA	DIRECTOR (THRU 10/24)	1.00	Director	$0	$0	$0
DANA RODRIGUEZ	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD SCHNEIDER	DIRECTOR	1.00	Director	$0	$0	$0
NICK SHARP	DIRECTOR	1.00	Director	$0	$0	$0
JENNY SHERMAN	DIRECTOR	1.00	Director	$0	$0	$0
MARK STANLEY	DIRECTOR	1.00	Director	$0	$0	$0
PAUL SULLIVAN	DIRECTOR	1.00	Director	$0	$0	$0
REBECCA TARABORELLI	DIRECTOR (THRU 10/24)	1.00	Director	$0	$0	$0
ALICE TOMLIN	DIRECTOR	1.00	Director	$0	$0	$0
KARRIE WILLIAMS	DIRECTOR	1.00	Director	$0	$0	$0
RYAN ZINK	DIRECTOR	1.00	Director	$0	$0	$0
SONIA RIGGS	PRESIDENT & CEO	39.00	Officer	$314,057	$43,050	$376,527
DEVANY MCNEILL	VP - STRATEGIC PARTNERSHIP	39.00	Key Emp	$136,454	$19,104	$193,233
JENNIFER JOHNSON	BIZ DEVELOPMENT & ENGAGEMENT MGR	40.00	Key Emp	$169,329	$11,923	$181,252
LAURA SHUNK	CRF PRESIDENT	1.00	Highest	$2,860	$32,708	$163,088
MICHAEL REED	CONTROLLER	39.00	Highest	$121,319	$10,578	$153,173
DENISE MICKELSEN	DIRECTOR OF COMMUNICATION	39.00	Highest	$65,487	$30,633	$131,971
COLIN LARSON	DIRECTOR OF GOVERNMENT AFFAIRS	40.00	Highest	$115,314	$16,036	$131,350

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	$3,654,314	$3,588,093	$3,202,930	$66,221
2023	$3,384,704	$3,456,281	$3,136,275	$-71,577
2022	$3,222,102	$3,098,153	$3,208,496	$123,949
2021	$2,501,451	$2,448,473	$3,078,817	$52,978
2020	$1,951,879	$2,083,892	$2,672,468	$-132,013
2019	$2,504,545	$2,472,084	$2,626,543	$32,461
2018	$2,059,675	$2,244,145	$2,633,152	$-184,470