SOCIETY FOR STRINGS 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

1951

Legal Domicile

Principal Officer

HANS JORGEN JENSEN

Phone

5189622400

Tax Period

2023-01-01 to 2023-12-31

SOCIETY FOR STRINGS INC, founded in 1951, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.0M in total revenue in fiscal year 2023. Net assets of $7.0M represent 43 months of operating reserves.

Mission

TO ENCOURAGE, PROMOTE AND AID THE ARTISTIC DEVELOPMENT OF MUSICIANS ON STRINGED INSTRUMENTS, SPECIFICALLY THROUGH A SUMMER SCHOOL DEVOTED EXCLUSIVELY TO INSTRUCTION FOR STRINGED INSTRUMENTS; AND TO PROMOTE TO THE GENERAL PUBLIC AN APPRECIATION OF THE PLAYING OF STRINGED INSTRUMENTS.

Program Service Accomplishments

Program 1

Expenses: $1,863,407 Revenue: $1,208,503

THE SOCIETY FOR STRINGS OPERATES THE MEADOWMOUNT SCHOOL OF MUSIC. THIS IS A SEVEN-WEEK SUMMER PROGRAM FOR VIOLINISTS, VIOLISTS, AND CELLISTS. MUSICIANS AGES 10-30 FROM AROUND THE WORLD GATHER AT THE SCHOOL'S CAMPUS IN THE ADIRONDACK MOUNTAINS IN NORTHERN NEW YORK TO IMMERSE THEMSELVES IN AN ENVIRONMENT WHERE THEY CAN FOCUS ON PERSONAL AND ARTISTIC DEVELOPMENT THROUGH INTENSIVE TRAINING WITH LEADING FACULTY, INDIVIDUAL PRACTICE, CHAMBER MUSIC, AND PERFORMANCE OPPORTUNITIES. MEADOWMOUNT HAS LONG BEEN REGARDED AS THE PREMIER DESTINATION FOR YOUNG MUSICIANS AND HAS HELPED CREATE SOME OF THE GREATEST ARTISTS OF OUR TIME.

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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 $300,495

Program Service Revenue $1,216,203

Investment Income $301,419

Other Revenue $132,010

TOTAL REVENUE $1,950,127

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,063,178

Fundraising Expenses $2,874

Program Expenses $1,863,407

Other Expenses $932,934

TOTAL EXPENSES $1,996,112

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,950,127	$1,933,407	+0.0%
Expenses	$1,996,112	$2,294,976	-0.1%
Net Income	$-45,985	$-361,569	-0.9%

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

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

$182,686

Total Directors

$82,115

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK HAYMAN	EXECUTIVE DI	40.00	Officer	$87,692	$12,879	$100,571
ANN SETZER	SECRETARY	16.00	Officer Director	$46,970	$0	$46,970
HANS JORGEN JENSEN	PRESIDENT	16.00	Officer Director	$35,145	$0	$35,145
EARL CARLYSS	BOARD MEMBER	0.00	Director	$0	$0	$0
JAMES EHNES	BOARD MEMBER	N/A	Director	$0	$0	$0
ALEXANDER KERR	BOARD MEMBER	N/A	Director	$0	$0	$0
ERIC LARSEN	BOARD MEMBER	N/A	Director	$0	$0	$0
PINCHAS ROSENBERG	BOARD MEMBER	N/A	Director	$0	$0	$0
AMY SCHWARTZ-MORETTI	BOARD MEMBER	N/A	Director	$0	$0	$0
GENEVIEVE TWOMEY	EXECUTIVE DI	40.00	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	No data	No data	No data	No data
2023	$1,950,127	$1,996,112	$7,076,370	$-45,985
2022	$1,933,407	$2,294,976	$6,838,844	$-361,569
2021	$180,653	$223,212	$7,904,145	$-42,559
2021	$1,141,910	$978,228	$7,862,316	$163,682
2020	$426,927	$592,827	$7,374,235	$-165,900
2019	$1,195,293	$1,304,974	$7,548,746	$-109,681
2018	$1,564,303	$1,241,869	$7,389,916	$322,434