Festivals for Good Corporation

Nonprofit profile at a glance

EIN
821436095
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
New Orleans, LA, USA
Phone
5043048198
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Official website

Reported finances

Revenue
$1,960,722
Expenses
$1,885,861
Assets
$0
Liabilities
$381,118

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

Leadership & pay

3 people listed

Executive titles in this filing

  • CLEVELAND SPEARS (PRESIDENT)

People named in this filing

  • CLEVELAND SPEARS (PRESIDENT)
  • JADE BROWN-RUSSELL (VICE CHAIR)
  • RONALD EVANGELISTA (TREASURER)

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

Festivals for good corp is a non-profit corporation that creates experiences with universal appeal to all people, & as a platform to show that more unites us than divides us.proceeds from festivals for good productions will be donated to charities that provide a community benefit

What it reported doing in 2024

In 2024 festivals for good corp produced the annual national fried chicken festival in new orleans, Louisiana. Over 200,000 people attended the event which features chefs and restaurants from new orleans and across the country.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% 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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 100
  • Accountability: 70
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.2%; rating input score 96
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.8%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 27.7% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 27.6% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 11.1% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 96.2% of revenue deployed · 100% of spending went to programs
  • Governance: 1 of 1 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.9M in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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: Total-asset coverage ratio scored 0/100.
  • Moderate — Sustainability: Operating margin scored 47/100.