SITKA MUSIC FESTIVAL INC (EIN 920075160) - 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

1972

Legal Domicile

Principal Officer

KARI LUNDGREN

Phone

9077476774

Tax Period

2024-01-01 to 2024-12-31

SITKA MUSIC FESTIVAL INC, founded in 1972, is a small nonprofit in the Arts, Culture & Humanities sector that reported $649K in total revenue in fiscal year 2024. Revenue surged 22% from the prior year, signaling strong growth momentum. Net assets of $4.1M represent 75 months of operating reserves.

Mission

TO PRODUCE WORLD CLASS CONCERTS IN SITKA ALASKA

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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 $470,771

Program Service Revenue $162,689

Investment Income $62

Other Revenue $15,951

TOTAL REVENUE $649,473

Expense Breakdown

Grants Paid $0

Salaries & Benefits $259,354

Fundraising Expenses $0

Program Expenses $452,137

Other Expenses $447,901

TOTAL EXPENSES $707,255

Year-over-Year Comparison

	2024	2023	Change
Revenue	$649,473	$531,019	+0.2%
Expenses	$707,255	$596,776	+0.2%
Net Income	$-57,782	$-65,757	-0.1%

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

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	Hours/Week	Role	Reportable Comp	Other Comp	Total
KARI LUNDGREN	PRESIDENT	N/A	Officer Director	$0	$0	$0
REV ROBERT HATTLE	VICE-PRESIDE	N/A	Officer Director	$0	$0	$0
DIRK WHITE	TREASURER	N/A	Officer Director	$0	$0	$0
RUSSELLYN CARRUTH	SECRETARY	N/A	Officer Director	$0	$0	$0
PETRA ILLIG	BOARD MEMBER	N/A	Director	$0	$0	$0
CASEY CARRUTH-HINCHEY	BOARD MEMBER	N/A	Director	$0	$0	$0
PETER BARTLETT	BOARD MEMBER	N/A	Director	$0	$0	$0
PAM STEFFES	BOARDMEMBER	N/A	Director	$0	$0	$0
JUNE TAKAGI	BOARD MEMBER	N/A	Director	$0	$0	$0
DR PETER MJOS	BOARD MEMBER	N/A	Director	$0	$0	$0
BARBARA BIGELOW	BOARD MEMBER	N/A	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	$649,473	$707,255	$4,111,867	$-57,782
2023	$531,019	$596,776	$4,157,148	$-65,757
2022	$751,057	$632,295	$4,260,184	$118,762
2022	$195,133	$224,104	$4,243,021	$-28,971
2021	$833,930	$592,831	$4,570,554	$241,099
2020	$2,459,852	$428,172	$3,906,212	$2,031,680
2018	$655,309	$458,368	$1,170,229	$196,941

SITKA MUSIC FESTIVAL INC