Blossom Charitable Foundation Inc

Nonprofit profile at a glance

EIN
863139841
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Lake Wales, FL, USA
Phone
8636767981
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$555,124
Expenses
$615,777
Assets
$200,060
Liabilities
$344,853

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • ROGER A INGLEY JR (PRESIDENT)

People named in this filing

  • CARLIE W COSCE (SECRETARY/TR)
  • JOHN REID HARDMAN (VICE PRESIDE)
  • ROGER A INGLEY JR (PRESIDENT)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose for which the corporation is organized is to nurture the culture of lake wales by presenting a spectacular gathering of musicians and performers that leads to a greater awareness and supports lake wales arts and recreation programming the corporation is organized exclusively for charitable, religious, educational and scientific purposes, including for such purposes, the making of distributions that qualify as an exempt organization under 501 (c)(3) of the internal revenue code, or the corresponding section of any future federal tax code.

What it reported doing in 2024

We remain deeply committed to enriching the culture of lake wales by bringing an exceptional lineup of musicians, artists, and performers to our community. These events are more than entertainment. They are meaningful investments in our city's future.proceeds from our programming directly support essential community services through grants to the lake wales junior league, warner university, and the lake wales arts council. These initiatives help strengthen local organizations that expand opportunities for education, creativity, and community engagement.in 2024, we experienced a significant decrease in attendance, driven largely by a softer market in this presidential election year. As a result, revenue fell short of expectations. Even so, our commitment to creating a more vibrant, inspired, and opportunity rich lake wales has never wavered.we will continue working to deliver high quality cultural experiences while supporting the programs that make a real difference for our community.

Operating model

Revenue model
Earned-program. 69% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 98% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 84
  • Accountability: 70
  • Sustainability: 22
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.1%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 76.9%; rating input score 77; 34th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -10.9%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 0.32; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 1.72; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 27.9% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 31.2% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 41.5% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.1% of spending went to programs
  • Governance: 3 of 3 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $610K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 16/100.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.