Brooklyn Music School 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

1936

Legal Domicile

Phone

7186385660

Tax Period

2022-09-01 to 2023-08-31

Brooklyn Music School Inc, founded in 1936, is a community nonprofit in the Arts, Culture & Humanities sector that reported $3.4M in total revenue in fiscal year 2022. Revenue decreased 7% compared to the prior year. Expenses of $3.0M left a modest 11% surplus.

Mission

Our mission is to make it possible for everyone in our community, regardless of their background and resources, to be able to experience the joy of music and the artistic and intellectual benefits of musical, dance, and dramatic performance.

Program Service Accomplishments

Program 1

Expenses: $2,230,971

Founded in 1912, the Brooklyn Music School is a community music and performing arts education organization based in Fort Greene, Brooklyn. Since the schools inception, the school has been a proponent of arts education and the cognitive benefits of high quality music, dance and drama instruction and performance. Programs at the school range from an Outreach program throughout the boroughs of the City of New York to onsite culturally rich after-school and summer programs to traditional and non-traditional private lessons and group music classes. At the core of the Brooklyn Music Schools mission is accessibility to music and performing arts education regardless of resources or background, with the aim to make the next generation of people who love music and the arts.

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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 (2022)

Revenue Breakdown

Contributions & Grants $1,941,837

Program Service Revenue $1,247,043

Investment Income $26

Other Revenue $191,637

TOTAL REVENUE $3,380,543

Expense Breakdown

Grants Paid $34,318

Salaries & Benefits $2,148,786

Fundraising Expenses $164,303

Program Expenses $2,230,971

Other Expenses $833,321

TOTAL EXPENSES $3,016,425

Year-over-Year Comparison

	2022	2021	Change
Revenue	$3,380,543	$3,624,243	-0.1%
Expenses	$3,016,425	$3,051,960	0.0%
Net Income	$364,118	$572,283	-0.4%

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

128

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

$95,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Brian Adamczyk	Executive Dir.	40.00	Officer	$95,000	$0	$95,000
Shelby Green	Chairman	10.00	Officer Director	$0	$0	$0
Peter Bordes	Vice Chair	1.00	Officer Director	$0	$0	$0
Brian Pope	Vice Chair	1.00	Officer Director	$0	$0	$0
Jordan Tamagni	Secretary	1.00	Officer Director	$0	$0	$0
Drew Bernstein	Treasurer	1.00	Officer Director	$0	$0	$0
Chuck Swartz	Trustee	1.00	Director	$0	$0	$0
Hadas Shahar	Trustee	1.00	Director	$0	$0	$0
John Flores	Trustee	1.00	Director	$0	$0	$0
Maria Pham	Trustee	1.00	Director	$0	$0	$0
Francois Leninger	Trustee	1.00	Director	$0	$0	$0
Dr Mark Braithwaite	Executive Dir.	1.00	Director	$0	$0	$0
Zach Kouwe	Trustee	1.00	Director	$0	$0	$0
Windy Lawrence	Trustee	1.00	Director	$0	$0	$0
Sasha Lazard	Trustee	1.00	Director	$0	$0	$0
Phil Rutherford	Trustee	1.00	Director	$0	$0	$0
Elizabeth Schmidt	Trustee	1.00	Director	$0	$0	$0
Angela Howard	Trustee	1.00	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
2023	$3,380,543	$3,016,425	$1,805,447	$364,118
2022	$3,624,243	$3,051,960	$1,805,670	$572,283
2021	$2,649,191	$2,286,896	$2,156,162	$362,295
2020	$2,821,132	$2,619,702	$1,277,541	$201,430
2019	$3,112,009	$3,312,398	$634,022	$-200,389
2018	$2,815,153	$2,801,520	$684,101	$13,633