JOY OF MUSIC PROGRAM INC (EIN 043055099) - Form 990 Financial Analysis & Trantor Score

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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

1989

Legal Domicile

Principal Officer

JENNIFER GRIFFIN GAUL

Phone

5088569541

Tax Period

2024-09-01 to 2025-08-31

JOY OF MUSIC PROGRAM INC, founded in 1989, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.3M in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year. Net assets of $3.7M represent 34 months of operating reserves.

Mission

TO PROVIDE MUSIC EDUCATION AND PERFORMANCE TO THE CENTRAL MASSACHUSETTS COMMUNITY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $427,223

Program Service Revenue $845,154

Investment Income $40,800

Other Revenue $19,475

TOTAL REVENUE $1,332,652

Expense Breakdown

Grants Paid $172,511

Salaries & Benefits $885,507

Fundraising Expenses $61,140

Program Expenses $1,103,489

Other Expenses $403,281

TOTAL EXPENSES $1,461,299

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,332,652	$1,436,095	-0.1%
Expenses	$1,461,299	$1,468,231	0.0%
Net Income	$-128,647	$-32,136	+3.0%

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

$119,113

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARGARET FREIJE	PRESIDENT	2.00	Officer Director	$0	$0	$0
JUSTIN DUFFY	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
TARIK BUXTON	TREASURER	2.00	Officer Director	$0	$0	$0
LINA NGUYEN	SECRETARY	2.00	Officer Director	$0	$0	$0
MARY ELLEN BEATON	DIRECTOR	2.00	Director	$0	$0	$0
PENELOPE DILLON	DIRECTOR	2.00	Director	$0	$0	$0
ERICKA FISHER	DIRECTOR	2.00	Director	$0	$0	$0
DAVID GERBEREUX	DIRECTOR	2.00	Director	$0	$0	$0
DAN PACEK	DIRECTOR	2.00	Director	$0	$0	$0
SHARON MAHONEY	DIRECTOR	2.00	Director	$0	$0	$0
KATHLEEN ROCHE-GOGGINS	DIRECTOR	2.00	Director	$0	$0	$0
LUKE ROSSEEL	DIRECTOR	2.00	Director	$0	$0	$0
HARUM THIMMIAH MD	DIRECTOR	2.00	Director	$0	$0	$0
JENNY PACILLO	DIRECTOR	2.00	Director	$0	$0	$0
JENNIFER GRIFFIN GAUL	EXECTIVE DIRECTOR	40.00	Officer	$119,113	$0	$119,113

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	$1,332,652	$1,461,299	$3,764,945	$-128,647
2024	$1,436,095	$1,468,231	$3,948,475	$-32,136
2023	$1,346,783	$1,331,098	$3,922,170	$15,685
2022	$1,557,883	$1,088,680	$3,886,405	$469,203
2021	$1,203,304	$1,002,270	$3,394,238	$201,034
2020	$1,219,009	$1,040,160	$3,313,498	$178,849
2019	$1,238,512	$970,438	$3,014,342	$268,074
2018	$915,717	$983,061	$2,740,714	$-67,344

JOY OF MUSIC PROGRAM INC