EDMONDS ARTS FESTIVAL FOUNDATION

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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

1979

Legal Domicile

Principal Officer

KRISTEN PAUST

Phone

4257716412

Tax Period

2023-01-01 to 2023-12-31

EDMONDS ARTS FESTIVAL FOUNDATION, founded in 1979, is a small nonprofit in the Arts, Culture & Humanities sector that reported $153K in total revenue in fiscal year 2023. Revenue surged 46% from the prior year, signaling strong growth momentum. The organization ran a surplus of $54K, a strong 35% operating margin.

Mission

PROMOTE THE ARTS LOCALLY

Program Service Accomplishments

Program 1

Expenses: $84,442

THE ORGANIZATION AWARDS ANNUAL SCHOLARSHIPS TO STUDENTS IN THE ARTS TO FURTHER THEIR EDUCATION. SCHOLARSHIPS AWARDED IN 2024 TOTALED $39,000.00.

Program 2

Expenses: $8,286

THE ORGANIZATION AWARDED GRANTS TO THE LOCAL COMMUNITY COLLEGE, SCHOOL DISTRICT AND TO SEVERAL TEACHERS IN THE DISTRICT TO FURTHER THE COMMUNITY'S AWARENESS AND APPRECIATION OF THE ARTS.

Program 3

Expenses: $3,784 Revenue: $14,784

THE ORGANIZATION HAS ESTABLISHED A LOCATION IN WHICH TO PROMOTE THE ARTS IN THE COMMUNITY. THIS LOCATION IS USED FOR VARIOUS ART CLASSES.

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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 $55,110

Program Service Revenue $14,784

Investment Income $65,331

Other Revenue $18,030

TOTAL REVENUE $153,255

Expense Breakdown

Grants Paid $56,384

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $96,512

Other Expenses $43,005

TOTAL EXPENSES $99,389

Year-over-Year Comparison

	2023	2022	Change
Revenue	$153,255	$105,322	+0.5%
Expenses	$99,389	$123,358	-0.2%
Net Income	$53,866	$-18,036	-4.0%

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

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
KRISTEN PAUST	President	1.00	Officer Director	$0	$0	$0
KIM PALMER	Treasurer	1.00	Officer Director	$0	$0	$0
MICHELLE SMITH	Secretary	1.00	Officer Director	$0	$0	$0
MARY MONFORT	Director	1.00	Director	$0	$0	$0
TERRY VEHRS	Director	1.00	Director	$0	$0	$0
BARBARA NORGAARD-REID	Director	1.00	Director	$0	$0	$0
VIVIAN OLSON	Director	1.00	Director	$0	$0	$0
SAMANTHA SAETHER	Director	1.00	Director	$0	$0	$0
ANN WOOD	Director	5.00	Director	$0	$0	$0
JEAN GILMORE	Director	1.00	Director	$0	$0	$0
MICAELA BERMENSOLO	Director	1.00	Director	$0	$0	$0
JESSIE BERMENSOLO	Director	1.00	Director	$0	$0	$0
JULAINE FLEETWOOD	Director	1.00	Director	$0	$0	$0
BETH SANGER	Vice President	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$153,255	$99,389	$1,138,919	$53,866
2022	$105,322	$123,358	$984,632	$-18,036
2021	$113,793	$136,501	$1,148,657	$-22,708
2020	$37,711	$123,589	$1,010,517	$-85,878
2019	$247,081	$231,684	$1,096,532	$15,397
2018	$141,242	$141,391	$1,014,807	$-149