GILROY GARLIC FESTIVAL ASSOCIATION INC (EIN 942605448) - 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

1979

Legal Domicile

Phone

4088421625

Tax Period

2024-11-01 to 2025-10-31

GILROY GARLIC FESTIVAL ASSOCIATION INC, founded in 1979, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $1.1M in total revenue in fiscal year 2024. Revenue surged 322% from the prior year, signaling strong growth momentum. The organization ran a surplus of $418K, a strong 39% operating margin.

Mission

THE GILROY GARLIC FESTIVAL IS ESTABLISHED TO PROVIDE BENEFITS TO LOCAL WORTHY CHARITIES AND NON-PROFIT GROUPS BY PROMOTING THE COMMUNITY OF GILROY THROUGH A QUALITY CELEBRATION OF GARLIC.

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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 $481

Program Service Revenue $991,205

Investment Income $69,257

Other Revenue $0

TOTAL REVENUE $1,060,943

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $567,872

Other Expenses $643,079

TOTAL EXPENSES $643,079

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,060,943	$251,157	+3.2%
Expenses	$643,079	$226,972	+1.8%
Net Income	$417,864	$24,185	+16.3%

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

400

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
MARK JACOBSEN	Vice President	3.00	Officer Director	$0	$0	$0
MIKE DAVIS	VP ELECT	3.00	Director	$0	$0	$0
MIKE WANZONG	CLERK	2.00	Director	$0	$0	$0
DAVE REYNOLDS	SPG Rep	2.00	Director	$0	$0	$0
KIM BECKLEY	Treasurer	5.00	Officer Director	$0	$0	$0
PAUL NADEAU	PAST PRESIDENT	2.00	Officer Director	$0	$0	$0
ALEX MISA	President	5.00	Officer Director	$0	$0	$0
AMBICA GILL	Secretary	3.00	Officer Director	$0	$0	$0
ANTHONY KIMLER	Director	2.00	Director	$0	$0	$0
ED SAUCEDA	Director	2.00	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	$1,060,943	$643,079	$1,083,790	$417,864
2024	$251,157	$226,972	$665,926	$24,185
2023	$139,019	$254,068	$698,402	$-115,049
2022	$60,958	$169,496	$760,528	$-108,538
2021	$492,902	$295,907	$887,935	$196,995
2020	$70,412	$244,233	$745,590	$-173,821
2019	$3,107,276	$3,164,021	$974,698	$-56,745
2018	$2,723,538	$3,137,513	$882,549	$-413,975

GILROY GARLIC FESTIVAL ASSOCIATION INC