Monterey Jazz Festival (EIN 946036515) - 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

1958

Legal Domicile

Principal Officer

Colleen Bailey

Phone

8313733366

Tax Period

2023-01-01 to 2023-12-31

Monterey Jazz Festival, founded in 1958, is a community nonprofit in the Arts, Culture & Humanities sector that reported $4.0M in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year. Expenses of $4.5M exceeded revenue, resulting in a 12% operating deficit.

Mission

The Monterey Jazz Festival's mission is to inspire the discovery and celebration of jazz, anchored by an iconic festival.

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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 $807,882

Program Service Revenue $3,133,458

Investment Income $43,899

Other Revenue $4,632

TOTAL REVENUE $3,989,871

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,519,773

Fundraising Expenses $142,338

Program Expenses $3,959,622

Other Expenses $2,935,982

TOTAL EXPENSES $4,455,755

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,989,871	$4,322,805	-0.1%
Expenses	$4,455,755	$4,045,270	+0.1%
Net Income	$-465,884	$277,535	-2.7%

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

142

Volunteers

150

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

$446,266

Total Directors

$138,555

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Tim Jackson	Artistic Dir.	30.00	Officer	$189,672	$1,916	$191,588
Colleen Bailey	Executive Dir.	40.00	Officer Director	$123,859	$14,696	$138,555
Tony Caparelli	Finance Dir.	40.00	Officer	$107,124	$8,999	$116,123
Tom LaFaille	Chair Elect	1.00	Director	$0	$0	$0
Sherol Chen	Director	1.00	Director	$0	$0	$0
Larry Williams Sr	Director	1.00	Director	$0	$0	$0
Clint Eastwood	Director	1.00	Director	$0	$0	$0
Ken Gordon	President	1.00	Officer Director	$0	$0	$0
Cydney Payton	Director	1.00	Director	$0	$0	$0
Don Barnett	Treasurer	2.00	Officer Director	$0	$0	$0
Sharon Wesley	Director	1.00	Director	$0	$0	$0
John Garcia	Director	1.00	Director	$0	$0	$0
Lori Ella Miller	Director	1.00	Director	$0	$0	$0
Susie Brusa	Director	1.00	Director	$0	$0	$0
Mike Knapek	Director	1.00	Director	$0	$0	$0
Laura Zehm	Director	2.00	Director	$0	$0	$0
Kevin Cartwright	Director	1.00	Director	$0	$0	$0
Mimi Hahn	Secretary	2.00	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
2024	No data	No data	No data	No data
2023	$3,989,871	$4,455,755	$3,377,624	$-465,884
2022	$4,322,805	$4,045,270	$3,560,341	$277,535
2021	$4,129,138	$2,294,969	$3,593,346	$1,834,169
2020	$1,284,186	$1,392,764	$2,356,705	$-108,578
2019	$4,196,392	$4,087,740	$1,955,753	$108,652
2018	$4,039,044	$4,394,261	$1,709,420	$-355,217

Monterey Jazz Festival