The Chorus of Westerly Inc (EIN 056019151) - 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

1961

Legal Domicile

Principal Officer

Christopher M Fusaro

Phone

4015968663

Tax Period

2023-10-01 to 2024-09-30

The Chorus of Westerly Inc, founded in 1961, is a community nonprofit that reported $1.8M in total revenue in fiscal year 2023. Revenue decreased 11% compared to the prior year. Expenses of $2.3M exceeded revenue, resulting in a 24% operating deficit.

Mission

The Chorus of Westerly is a community volunteer organization that provides musical education, in addition to presenting and providing various musical performances throughout the year.

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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 $716,241

Program Service Revenue $992,976

Investment Income $116,001

Other Revenue $20,876

TOTAL REVENUE $1,846,094

Expense Breakdown

Grants Paid $0

Salaries & Benefits $547,119

Fundraising Expenses $103,703

Program Expenses $2,000,990

Other Expenses $1,740,622

TOTAL EXPENSES $2,287,741

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,846,094	$2,065,742	-0.1%
Expenses	$2,287,741	$1,146,805	+1.0%
Net Income	$-441,647	$918,937	-1.5%

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Sarah Starkweather	Director	5.00	Director	$0	$0	$0
Jennifer Brinton	Director	5.00	Director	$0	$0	$0
Michael Anderson	Director	5.00	Director	$0	$0	$0
Andrew Burnap	Director	5.00	Director	$0	$0	$0
Audrey Cardany	Director	5.00	Director	$0	$0	$0
Frederica Davis	Director	5.00	Director	$0	$0	$0
Sara Isaacs	Director	5.00	Director	$0	$0	$0
John Townsend	Director	5.00	Director	$0	$0	$0
Charlotte Brittan	Director	5.00	Director	$0	$0	$0
Aaron Simmons	Director	5.00	Director	$0	$0	$0
Louise Thorsen	Director	5.00	Director	$0	$0	$0
Rudi Hauser	Chair	15.00	Officer	$0	$0	$0
Christopher Fusaro	Treasurer	15.00	Officer	$0	$0	$0
Tracey Datson	Secretary	15.00	Officer	$0	$0	$0
Susan Maguire	Vice-Chair	15.00	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
2024	$1,846,094	$2,287,741	$6,565,386	$-441,647
2023	$2,065,742	$1,146,805	$6,740,394	$918,937
2022	$1,195,246	$1,079,061	$5,787,869	$116,185
2021	$830,537	$865,886	$5,722,371	$-35,349
2020	$1,404,463	$812,566	$5,776,695	$591,897
2019	$910,508	$901,279	$5,089,359	$9,229
2018	$2,994,679	$825,666	$5,353,770	$2,169,013

The Chorus of Westerly Inc