WESTPORT SCHOOL OF MUSIC (EIN 060728651) - 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

1938

Legal Domicile

Principal Officer

SARAH MILLER

Phone

2032274931

Tax Period

2023-09-01 to 2024-08-31

WESTPORT SCHOOL OF MUSIC, founded in 1938, is a small nonprofit in the Arts, Culture & Humanities sector that reported $241K in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year. Expenses of $303K exceeded revenue, resulting in a 26% operating deficit.

Mission

EDUCATIONAL ORGANIZATION DEDICATED TO PROVIDING QUALITY INSTRUCTION IN MUSIC AT AFFORDABLE RATES TO ALL WHO SEEK IT, REGARDLESS OF AGE, ABILITY, INCOME OR ETHNIC ORGIN.

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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 $20,154

Program Service Revenue $204,979

Investment Income $15,979

Other Revenue $0

TOTAL REVENUE $241,112

Expense Breakdown

Grants Paid $0

Salaries & Benefits $189,251

Fundraising Expenses $0

Program Expenses $180,971

Other Expenses $113,822

TOTAL EXPENSES $303,073

Year-over-Year Comparison

	2023	2022	Change
Revenue	$241,112	$261,513	-0.1%
Expenses	$303,073	$353,861	-0.1%
Net Income	$-61,961	$-92,348	-0.3%

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

N/A

Volunteers

N/A

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 MILLER	EXECUTIVE DIRECTOR	40.00	Officer Director	$0	$0	$0
NANCY GALLAGHER	TRUSTEE	0.00	Director	$0	$0	$0
RYAN KOPRESKI	TRUSTEE	0.00	Director	$0	$0	$0
HQ NGUYEN	TRUSTEE	0.00	Director	$0	$0	$0
TESSA BACHMAN	TRUSTEE	0.00	Director	$0	$0	$0
NILAJAN BHOWMIK	TRUSTEE	0.00	Director	$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	$241,112	$303,073	No data	$-61,961
2023	$261,513	$353,861	No data	$-92,348
2022	$251,013	$292,932	$534,407	$-41,919
2021	$720,720	$269,353	$631,592	$451,367
2020	$229,319	$296,803	$116,619	$-67,484
2018	$333,790	$368,713	$173,745	$-34,923

WESTPORT SCHOOL OF MUSIC