MUSIC HAVEN INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2006

Legal Domicile

Principal Officer

MILDA TORRES MCCLAIN

Phone

2037459030

Tax Period

2023-07-01 to 2024-06-30

MUSIC HAVEN INC, founded in 2006, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.6M in total revenue in fiscal year 2023. Revenue surged 98% from the prior year, signaling strong growth momentum. The organization ran a surplus of $664K, a strong 41% operating margin.

Mission

MUSIC HAVEN'S MISSION IS TO BUILD A VIBRANT URBAN COMMUNITY THROUGH PERFORMANCE AND MUSIC EDUCATION THAT EMPOWERS YOUNG PEOPLE, THEIR FAMILIES, AND PROFESSIONAL MUSICIANS. A GROUP OF PROFESSIONAL MUSICIANS DEDICATED TO SOCIAL CHANGE PERFORM AND MENTOR 75 CHILDREN ACROSS THE CITY OF NEW HAVEN.

Program Service Accomplishments

Program 1

Expenses: $819,960

EDUCATIONAL PROGRAMS FOR FAMILIES AND YOUTH THAT CONNECT MUSIC WITH SOCIAL CHANGE, INCLUDING OUT-OF-SCHOOL PROGRAMMING AND ALL COMMUNITY-BUILDING EVENTS.

Program 2

Revenue: $16,805

EARNED FROM PERFORMANCES AND OPERATION OF THE RESIDENT ENSEMBLE, THE HAVEN STRING QUARTET.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,544,482

Program Service Revenue $16,805

Investment Income $38,929

Other Revenue $257

TOTAL REVENUE $1,600,473

Expense Breakdown

Grants Paid $0

Salaries & Benefits $698,746

Fundraising Expenses $37,756

Program Expenses $819,960

Other Expenses $238,143

TOTAL EXPENSES $936,889

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,600,473	$810,274	+1.0%
Expenses	$936,889	$880,271	+0.1%
Net Income	$663,584	$-69,997	-10.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

$125,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WENDY MARANS	DIRECTOR/PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
IAN MELCHINGER	DIRECTOR	1.00	Director	$0	$0	$0
NOEL MITCHELL	DIRECTOR	1.00	Director	$0	$0	$0
MARY MORRISON	DIRECTOR	1.00	Director	$0	$0	$0
JAMILLAAH ROBERSON	DIRECTOR	1.00	Director	$0	$0	$0
FATIMA ROJAS	CO-CHAIR	1.00	Officer Director	$0	$0	$0
AMANDA WATTS	DIRECTOR	1.00	Director	$0	$0	$0
TYLER YANOSY	TREASURER	1.00	Officer Director	$0	$0	$0
ANDREW BEDFORD	DIRECTOR	1.00	Director	$0	$0	$0
MILDA TORRES MCCLAIN	EXECUTIVE DIRECTOR	40.00	Director	$125,000	$0	$125,000
ANNA GARSTEN	DIRECTOR	1.00	Officer Director	$0	$0	$0
MARC MANN	CHAIR	1.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$1,600,473	$936,889	$1,668,283	$663,584
2023	$810,274	$880,271	$985,345	$-69,997
2022	$915,152	$822,591	$1,031,354	$92,561
2021	$995,133	$678,568	$1,075,419	$316,565
2020	$772,264	$661,996	$730,418	$110,268
2019	$676,766	$638,901	$536,305	$37,865