SITKA MUSIC 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

1981

Legal Domicile

Principal Officer

SUSAN CARLSON

Phone

9077476774

Tax Period

2023-01-01 to 2023-12-31

SITKA MUSIC FESTIVAL FOUNDATION, founded in 1981, is a small nonprofit in the Arts, Culture & Humanities sector that reported $144K in total revenue in fiscal year 2023. Revenue surged 36% from the prior year, signaling strong growth momentum. The organization ran a surplus of $91K, a strong 63% operating margin.

Mission

THE ORGANIZATION SUPPORTS THE SITKA MUSIC FESTIVAL INC. THIS ORGANIZATION FUNDS A SERIES OF CHAMBER MUSIC PERFORMANCES THROUGHOUT ALASKA.

Program Service Accomplishments

Program 1

Expenses: $53,932

OVERSEES THE MANAGEMENT OF AN INVESTMENT PORTFOLIO TO GENERATE INCOME TO ASSIST THE SITKA MUSIC FESTIVAL INC. OPERATIONS WHICH PROVIDE MUSIC CONCERTS FOR THE PUBLIC IN ALASKA. FUTURE INCOME WILL BE...

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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 $112,119

Program Service Revenue $0

Investment Income $32,361

Other Revenue $0

TOTAL REVENUE $144,480

Expense Breakdown

Grants Paid $39,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $53,932

Other Expenses $14,932

TOTAL EXPENSES $53,932

Year-over-Year Comparison

	2023	2022	Change
Revenue	$144,480	$106,253	+0.4%
Expenses	$53,932	$55,271	0.0%
Net Income	$90,548	$50,982	+0.8%

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	Hours/Week	Role	Reportable Comp	Other Comp	Total
SUSAN CARLSON	PRESIDENT	N/A	Officer Director	$0	$0	$0
TRISH WHITE	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
CHARLIE MORGAN	SECRETARY	N/A	Officer Director	$0	$0	$0
DAN JONES	TREASURER	N/A	Officer Director	$0	$0	$0
OLGA BORLAND	DIRECTOR	N/A	Director	$0	$0	$0
SHARON DAVIS	DIRECTOR	N/A	Director	$0	$0	$0
RICH MCCLEAR	DIRECTOR	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	No data	No data	No data	No data
2023	$144,480	$53,932	$1,479,043	$90,548
2022	$106,253	$55,271	$1,249,491	$50,982
2021	$168,187	$56,752	$1,513,363	$111,435
2020	$63,204	$48,252	$1,336,976	$14,952
2018	$210,350	$55,525	$1,020,707	$154,825