FESTIVAL FAIRBANKS INC

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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

1983

Legal Domicile

Principal Officer

JULIE ENGFER JONES

Phone

9074561984

Tax Period

2023-01-01 to 2023-12-31

FESTIVAL FAIRBANKS INC, founded in 1983, is a small nonprofit that reported $252K in total revenue in fiscal year 2023. Expenses of $222K left a modest 12% surplus.

Mission

FESTIVAL FAIRBANKS IS INVOLVED IN PROJECTS TO PRESERVE AND ENHANCE THE LONG TERM QUALITY OF LIFE IN FAIRBANKS THROUGH HISTORIC PRESERVATION, DOWNTOWN BEAUTIFICATION, TOURISM PROMOTION, AND ECONOMIC DEVELOPMENT.

Program Service Accomplishments

Program 1

Expenses: $141,803 Revenue: $1,441

Festival Fairbanks coordinated many programs and events this year, which included beautification and development planning, 26 Concerts in the Plaza, Vendors at the Plaza, two live Veterans Day...

Festival Fairbanks coordinated many programs and events this year, which included beautification and development planning, 26 Concerts in the Plaza, Vendors at the Plaza, two live Veterans Day events, 120 year Anniversary of the City of Fairbanks Banner Project, and Downtown Fairbanks Bridge of Flags projects. Festival Fairbanks also participated in community committees, including the Chena Riverfront Commission and Clay Street Cemetery Commission. As part of the Chena Riverwalk Phase III project, we worked with the Department of Transportation, and City of Fairbanks FAST Planning to plan and facilitate the continued efforts to complete the project and riverbank restoration. The organization planted and maintained acres of flowers in Golden Heart Plaza and throughout downtown Fairbanks. Every visitor to the area and more than 100,000 residents were touched by one or more of the projects presented by Festival Fairbanks.

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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 $87,956

Program Service Revenue $1,441

Investment Income $901

Other Revenue $161,449

TOTAL REVENUE $251,747

Expense Breakdown

Grants Paid $0

Salaries & Benefits $113,314

Fundraising Expenses $0

Program Expenses $141,803

Other Expenses $108,503

TOTAL EXPENSES $221,817

Year-over-Year Comparison

	2023	2022	Change
Revenue	$251,747	$248,271	+0.0%
Expenses	$221,817	$231,102	0.0%
Net Income	$29,930	$17,169	+0.7%

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

$66,300

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SEAN RICE	DIRECTOR	1.00	Director	$0	$0	$0
AARON RHOADES	DIRECTOR	1.00	Director	$0	$0	$0
OLIVIA DOWLING	DIRECTOR	1.00	Director	$0	$0	$0
KAREN LANE	DIRECTOR	1.00	Director	$0	$0	$0
TOM BUNDTZEN	PRESIDENT	1.00	Officer	$0	$0	$0
JULIE ENGFER JONES	EXECUTIVE DIRECTOR	40.00	Officer	$0	$0	$66,300
SUE SPRINKLE	VICE PRESIDENT	1.00	Officer	$0	$0	$0
DAVE DEAN	SECRETARY/TREASURER	1.00	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	No data	No data	No data	No data
2023	$251,747	$221,817	$78,289	$29,930
2022	$248,271	$231,102	$64,625	$17,169
2021	$241,753	$256,942	$47,754	$-15,189
2020	$158,232	$141,684	$99,496	$16,548
2019	$185,611	$214,830	$51,725	$-29,219
2018	$165,593	$145,541	$61,884	$20,052