FESTIVAL OF LIGHTS

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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

2019

Legal Domicile

Phone

2173571412

Tax Period

2024-01-01 to 2024-12-31

FESTIVAL OF LIGHTS, founded in 2019, is a small nonprofit in the Recreation & Sports sector that reported $260K in total revenue in fiscal year 2024. Revenue decreased 11% compared to the prior year. The organization ran a surplus of $54K, a strong 21% operating margin.

Mission

THE MISSION OF FESTIVAL OF LIGHTS IS TO PROVIDE A SEASONAL LIGHT DISPLAY FOR THE BENEFIT OF THE CITY OF QUINCY, IL AND SURROUNDING COMMUNITIES

Program Service Accomplishments

Program 1

Expenses: $198,361 Revenue: $258,193

A SEASONAL LIGHT DISPLAY IS OFFERED TO THE PUBLIC FROM LATE NOVEMBER TO EARLY JANUARY. AN ESTIMATED 45,000 TO 55,000 INDIVIDUALS AVAILED THEMSELVES OF THE OPPORTUNITY TO VIEW THE SPECTACULAR SHOW IN...

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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 $1,500

Program Service Revenue $258,193

Investment Income $0

Other Revenue $0

TOTAL REVENUE $259,693

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $198,361

Other Expenses $205,218

TOTAL EXPENSES $205,218

Year-over-Year Comparison

	2024	2023	Change
Revenue	$259,693	$290,401	-0.1%
Expenses	$205,218	$284,363	-0.3%
Net Income	$54,475	$6,038	+8.0%

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

Independent Members

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

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
THOMAS SNODGRASS	BOARD CHAIRMAN	Officer Director	$0	$0	$0
JAMIE CRENSHAW	BOARD VICE CHAIRMAN	Officer Director	$0	$0	$0
RONALD SMITH	SECYTREAS	Officer Director	$0	$0	$0
ERIC DOOLEY	PRESIDENT	Officer	$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	$259,693	$205,218	$133,983	$54,475
2023	$290,401	$284,363	$81,788	$6,038