TURTLE BAY MUSIC SCHOOL INC

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1928

Legal Domicile

Tax Period

2021-09-01 to 2022-08-31

TURTLE BAY MUSIC SCHOOL INC, founded in 1928, is a micro nonprofit that reported $1.4M in total revenue in fiscal year 2021. Revenue fell 487% from the prior year — a significant decline worth monitoring.

Mission

TO SPREAD THE TRANSFORMATIVE POWER OF MUSIC BY PROVIDING THE HIGHEST QUALITY MUSIC EDUCATION AND EXPERIENCES TO ALL IN THE COMMUNITY WHO SEEK THEM

Program Service Accomplishments

Program 1

INSTRUCTIONAL AND OUTREACH PROGRAMS: INSTRUCTIONAL - PROVIDING MUSIC LESSONS AND CLASSES FOR GROUPS OR INDIVIDUALS, CONSISTING OF WEEKLY OR HOURLY INSTRUCTION BY FACULTY MEMBERS SKILLED IN THE...

INSTRUCTIONAL AND OUTREACH PROGRAMS: INSTRUCTIONAL - PROVIDING MUSIC LESSONS AND CLASSES FOR GROUPS OR INDIVIDUALS, CONSISTING OF WEEKLY OR HOURLY INSTRUCTION BY FACULTY MEMBERS SKILLED IN THE PARTICULAR AREA LOF STUDY, OUTREACH - CREATING PARTNERSHIPS WITH PUBLIC SCHOOLS, COMMUNITY ORGANIZATIONS, HOSPITALS, SENIOR CENTERS, AND OTHERS AS APPROPRIATE WITH THE GOAL OF MAKING MUSIC ACCESSIBLE TO NEW YORKERS. THE WIDE VARIETY OF PROGRAMMING OFFERED INCLUDES IN-SCHOOL GROUP MUSIC LESSIONS, AFTER-SCHOOL PROGRAMS, FREE COMMUNITY CONCERTS, MASTER CLASSES, AND FAMILY PROGRAMMING. THE SCHOOL CEASED ALL OPERATIONS AND PROGRAMMING ON JANUARY 29, 2020

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $26,465

Program Service Revenue $0

Investment Income $-1,820,340

Other Revenue $366,968

TOTAL REVENUE $-1,426,907

Expense Breakdown

Grants Paid $0

Salaries & Benefits $19,505

Fundraising Expenses $0

Other Expenses $857,232

TOTAL EXPENSES $876,737

Year-over-Year Comparison

	2021	2020	Change
Revenue	$-1,426,907	$369,079	-4.9%
Expenses	$876,737	$106,957	+7.2%
Net Income	$-2,303,644	$262,122	-9.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

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
MARY NEUMANN	TRUSTEE	1.00	Director	$0	$0	$0
BLAIR TALCOTT	TRUSTEE	1.00	Director	$0	$0	$0
TAYLOR NICHOLAS	TRUSTEE	1.00	Director	$0	$0	$0
DAVID BONDY	TRUSTEE	1.00	Director	$0	$0	$0
EDWIN SIRLIN	CHAIRTREASURER	2.00	Officer Director	$0	$0	$0
NANCY GREBEY	SECRETARY	1.00	Officer Director	$0	$0	$0
LORNA J NORRIS	EXECUTIVE DIRECTOR	40.00	Officer Director	$0	$0	$0
JEFFREY SCHLOSSER	PRESIDENT	4.00	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
2022	$-1,426,907	$876,737	$15,185,712	$-2,303,644
2021	$369,079	$889,957	$17,720,629	$-520,878
2020	$584,810	$1,989,374	$17,889,664	$-1,404,564
2019	$1,319,597	$3,266,578	$18,762,084	$-1,946,981
2018	$12,043,649	$2,287,172	$19,737,834	$9,756,477
2017	$1,532,799	$1,642,008	$2,418,298	$-109,209