Traverse City Film Festival
Traverse City Film Festival faces significant operating deficits and declining revenues in recent years.
EIN: 203100410 · Traverse City, MI · NTEE: A31 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $499K |
| Total Expenses | $932K |
| Program Spending | 70% |
| Net Assets | $2.4M |
| Transparency Score | 65/100 |
Is Traverse City Film Festival Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Traverse City Film Festival directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Traverse City Film Festival
Traverse City Film Festival (EIN: 203100410) is a nonprofit organization based in Traverse City, MI, classified under NTEE code A31. The organization reported total revenue of $499K and total assets of $2.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Traverse City Film Festival's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Traverse City Film Festival is a small nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -11.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $654K |
| Total Expenses | $932K |
| Surplus / Deficit | $-277,495 |
| Total Assets | $2.6M |
| Total Liabilities | $234K |
| Net Assets | $2.4M |
| Operating Margin | -42.4% |
| Debt-to-Asset Ratio | 9.0% |
| Months of Reserves | 33.5 months |
Financial Health Grade: B
In 2023, Traverse City Film Festival reported a deficit of $277K with expenses exceeding revenue, holds 33.5 months of operating reserves (strong position), has a debt-to-asset ratio of 9.0% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Traverse City Film Festival's revenue has declined at a compound annual growth rate (CAGR) of -11.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -62.0% | -34.8% | -8.4% |
| 2022 | +42.6% | +169.3% | -15.5% |
| 2021 | +43.5% | -36.1% | +41.4% |
| 2020 | -70.8% | -75.7% | -1.5% |
| 2019 | -11.6% | +2.9% | -13.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Traverse City Film Festival with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Traverse City Film Festival allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $277K, with expenses exceeding revenue.
- Debt-to-asset ratio: 9.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is highly unusual for an organization of this size and revenue history and suggests a strong commitment to directing funds towards the mission.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Traverse City Film Festival's IRS 990 filings:
- Recurring operating deficits (e.g., $277,495 in 2023, $539,089 in 2019).
- Significant year-over-year revenue decline (from $1.72M in 2022 to $654K in 2023).
- Declining asset base from its peak in 2015 ($3.91M) to $2.59M in 2023.
Strengths
The following positive indicators were identified for Traverse City Film Festival:
- Consistent IRS 990 filing history (13 filings) indicating transparency.
- Reported 0% officer compensation across all filings, suggesting high efficiency in executive pay.
- Assets consistently exceed liabilities, indicating some financial stability despite deficits.
Frequently Asked Questions about Traverse City Film Festival
Is Traverse City Film Festival a legitimate charity?
Based on AI analysis of IRS 990 filings, Traverse City Film Festival (EIN: 203100410) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Traverse City Film Festival spend its money?
Traverse City Film Festival directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Traverse City Film Festival tax-deductible?
Traverse City Film Festival is registered as a tax-exempt nonprofit (EIN: 203100410). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Traverse City Film Festival's spending goes to programs?
Traverse City Film Festival directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Traverse City Film Festival compare to similar nonprofits?
With a transparency score of 65/100 (Good), Traverse City Film Festival is above average for NTEE category A31 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Traverse City Film Festival located?
Traverse City Film Festival is headquartered in Traverse City, Michigan and files with the IRS under EIN 203100410. It is classified under NTEE code A31.
How many years of IRS 990 filings does Traverse City Film Festival have?
Traverse City Film Festival has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $499K in total revenue.
Why did revenue drop from $1,720,537 in 2022 to $654,245 in 2023?
The significant decrease in revenue by over $1 million in a single year is a critical financial event that requires detailed explanation from the organization, potentially related to event cancellations, reduced attendance, or changes in funding sources.
How does the organization plan to address its recurring operating deficits, such as the $277,495 deficit in 2023?
Consistent operating deficits are unsustainable long-term. The organization needs a clear strategy to either increase revenue or reduce expenses to achieve financial stability.
What is the breakdown of program, administrative, and fundraising expenses?
Without a detailed breakdown, it's difficult to fully assess spending efficiency and ensure that the majority of funds are going towards the mission.
How does the organization sustain operations with 0% officer compensation?
While commendable for efficiency, it raises questions about who is performing executive functions and how they are compensated, if at all, to ensure long-term leadership stability.
Filing History
IRS 990 filing history for Traverse City Film Festival showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Traverse City Film Festival's revenue has declined by 77.2%, moving from $2.9M to $654K. Total assets decreased by 9.1% over the same period, from $2.9M to $2.6M. Total functional expenses fell by 66.9%, from $2.8M to $932K. In its most recent filing year (2023), Traverse City Film Festival reported a deficit of $277K, with expenses exceeding revenue. The organization holds $234K in liabilities against $2.6M in assets (debt-to-asset ratio: 9.0%), resulting in net assets of $2.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $654K | $932K | $2.6M | $234K | — | — |
| 2022 | $1.7M | $1.4M | $2.8M | $194K | — | View 990 |
| 2021 | $1.2M | $531K | $3.4M | $1.0M | — | View 990 |
| 2020 | $841K | $831K | $2.4M | $628K | — | — |
| 2019 | $2.9M | $3.4M | $2.4M | $895K | — | View 990 |
| 2018 | $3.3M | $3.3M | $2.8M | $741K | — | View 990 |
| 2017 | $2.8M | $3.3M | $2.9M | $592K | — | View 990 |
| 2016 | $2.7M | $3.1M | $3.3M | $513K | — | View 990 |
| 2015 | $3.4M | $3.4M | $3.9M | $433K | — | View 990 |
| 2014 | $3.4M | $3.7M | $3.9M | $387K | — | View 990 |
| 2013 | $4.1M | $3.0M | $4.2M | $412K | — | View 990 |
| 2012 | $2.9M | $2.4M | $2.8M | $89K | — | View 990 |
| 2011 | $2.9M | $2.8M | $2.9M | $671K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $654K, expenses of $932K, and assets of $2.6M (revenue -62.0% year-over-year).
- 2022: Revenue of $1.7M, expenses of $1.4M, and assets of $2.8M (revenue +42.6% year-over-year).
- 2021: Revenue of $1.2M, expenses of $531K, and assets of $3.4M (revenue +43.5% year-over-year).
- 2020: Revenue of $841K, expenses of $831K, and assets of $2.4M (revenue -70.8% year-over-year).
- 2019: Revenue of $2.9M, expenses of $3.4M, and assets of $2.4M (revenue -11.6% year-over-year).
- 2018: Revenue of $3.3M, expenses of $3.3M, and assets of $2.8M (revenue +16.0% year-over-year).
- 2017: Revenue of $2.8M, expenses of $3.3M, and assets of $2.9M (revenue +4.4% year-over-year).
- 2016: Revenue of $2.7M, expenses of $3.1M, and assets of $3.3M (revenue -20.9% year-over-year).
- 2015: Revenue of $3.4M, expenses of $3.4M, and assets of $3.9M (revenue +0.8% year-over-year).
- 2014: Revenue of $3.4M, expenses of $3.7M, and assets of $3.9M (revenue -17.3% year-over-year).
- 2013: Revenue of $4.1M, expenses of $3.0M, and assets of $4.2M (revenue +39.5% year-over-year).
- 2012: Revenue of $2.9M, expenses of $2.4M, and assets of $2.8M (revenue +1.9% year-over-year).
- 2011: Revenue of $2.9M, expenses of $2.8M, and assets of $2.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Traverse City Film Festival:
Data Sources and Methodology
This transparency report for Traverse City Film Festival is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.