Hartbeat Ensemble 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

Rhoda Cerritelli

Phone

6462941475

Tax Period

2023-10-01 to 2024-09-30

Hartbeat Ensemble Inc, founded in 2006, is a small nonprofit in the Arts, Culture & Humanities sector that reported $317K in total revenue in fiscal year 2023. Revenue fell 32% from the prior year — a significant decline worth monitoring.

Mission

To create provocative theater that connects our community beyond the traditional barriers of class race geography and gender.

Program Service Accomplishments

Program 1

Expenses: $164,304 Revenue: $35,000

Development and presentation of mainstage productions

Program 2

Expenses: $116,768 Revenue: $106,033

Educational outreach and related programs

Program 3

Expenses: $33,080 Revenue: $10,000

Development and presentation of commissioned productions

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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 $149,876

Program Service Revenue $165,387

Investment Income $0

Other Revenue $2,048

TOTAL REVENUE $317,311

Expense Breakdown

Grants Paid $0

Salaries & Benefits $174,017

Fundraising Expenses $0

Program Expenses $314,152

Other Expenses $140,135

TOTAL EXPENSES $314,152

Year-over-Year Comparison

	2023	2022	Change
Revenue	$317,311	$467,053	-0.3%
Expenses	$314,152	$469,345	-0.3%
Net Income	$3,159	$-2,292	-2.4%

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

$35,203

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Rhoda Cerritelli	Managing Director	40.00	Key Emp	$21,538	$13,665	$35,203
Alex Giadone	Director	2.00	Director	$0	$0	$0
Debra Walsh	Director	2.00	Director	$0	$0	$0
Josh Michtom	Chairman	2.00	Officer Director	$0	$0	$0
Mellissa Craig	Secretary	2.00	Officer Director	$0	$0	$0
Dilworthy Mandhalazi	Treasurer	2.00	Officer 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	$317,311	$314,152	$19,741	$3,159
2023	$467,053	$469,345	$21,368	$-2,292
2022	$534,018	$510,269	$23,659	$23,749
2021	$321,382	$303,193	$51,311	$18,189
2020	$240,157	$246,844	$31,621	$-6,687
2019	$212,550	$209,673	$7,393	$2,877
2018	$220,672	$222,921	$5,631	$-2,249