Three Rivers Festival Executive Board In

Nonprofit profile at a glance

EIN
351338028
IRS 990 coverage
2015–2023
Forms available
Form 990 2023
Location
Fort Wayne, IN, USA
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$759,908
Expenses
$1,254,741
Assets
$69,474
Liabilities
$379,049

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • Sara Roach (President)
  • Jerry White (Vice President)

People named in this filing

  • Sara Roach (President)
  • Jerry White (Vice President)
  • Doreen Benavente (Secretary)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Organize an annual 9-day celebration of the fort wayne community with recreational and educational activities for the whole family

What it reported doing in 2023

Organize an annual 9-day festival celebrating the fort wayne and northeast Indiana community which had an estimated attendance of 150,000 in 2024. Events of which 80% are free to the public, include an arts fair, children's activities, senior's events, national acts, concessions a marketplace and a parade

Operating model

Revenue model
Other-operating. 95% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 99% 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

SUPPORTED - 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: 84
  • Transparency & Controls: 93
  • Accountability: 70
  • Sustainability: 11
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 85%; rating input score 85
  • Fundraising efficiency: $0.01 raised per $1 spent on fundraising; rating input score 1; 1st 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: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • 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: -65.1%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0.06; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 5.46; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 3.8% per year; rating input score 100; 38th percentile among comparable filings
  • Revenue growth: -2.1% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: 4.3% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 85% of spending went to programs
  • Governance: 8 of 8 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 9 filing years from 2015 to 2023
  • 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.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 1/100.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.