Mayfest Inc (Dba Trinity Collaborative Inc)

Nonprofit profile at a glance

EIN
752160417
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Fort Worth, TX, USA
Phone
8173321055
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Official website

Reported finances

Revenue
$1,725,122
Expenses
$1,666,372
Assets
$567,453
Liabilities
$326,735

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

Leadership & pay

15 people listed

Executive titles in this filing

  • TERI MCGUILL (PRESIDENT)
  • IRIS BRUTON (EXECUTIVE DIRECTOR)

Highest reported compensation

  • IRIS BRUTON (EXECUTIVE DIRECTOR): $75,000 total reported compensation

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 has been formed is to connect people for a better river, better parks, and a better community.

What it reported doing in 2024

Mayfest produces a four-day outdoor community festival, which will celebrate its 55th year in 2027, as well as other events throughout the year. The festival celebrates the arts, the environment, cultural diversity, education and focuses efforts to connect people with the parks, the river, and each other. It provides support to the city of fort worth parks & community services by leading the way with park improvements that can be enjoyed by all, as well as addressing infrastructure needs; streams & valley, inc. By supporting efforts that bring the community together to connect with nature, trail development that allows users a safe place to exercise and enjoy a better quality of life, and other impactful improvements along the trinity river; and the junior league of fort worth, inc. By ensuring programs that educate a diverse group of children and youth on healthy choices, physical activity, educational support, exposure to the arts and cultural awareness.

Operating model

Revenue model
Earned-program. 93% of the money available for current operations came from fees and other program revenue.
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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 34
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.8%; rating input score 84
  • Program expense ratio: 86.9%; rating input score 87
  • Fundraising efficiency: $11.63 raised per $1 spent on fundraising; rating input score 43; 43rd percentile among comparable filings

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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: 3.4%; rating input score 46; 46th percentile among comparable filings
  • Total-asset coverage ratio: 0.34; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0.58; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 4.5%; rating input score 54; 54th percentile among comparable filings

Growth

  • Program expense growth: 1.3% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 0.2% per year; rating input score 100; 16th percentile among comparable filings
  • Asset growth: -2.7% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 83.8% of revenue deployed · 86.9% of spending went to programs
  • Governance: 15 of 15 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.4M in reported program spending
  • Leadership: top reported pay $75K · 15 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 43/100.
  • Moderate — Sustainability: Operating margin scored 46/100.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • Review — Sustainability: Officer compensation ratio scored 54/100.