AURORA MUSIC FOUNDATION INC DBA CANDY JERNIGAN FOUNDATION FOR THE ARTS (EIN 132767468) - 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

1975

Legal Domicile

Principal Officer

PHILIP GLASS

Phone

2125949195

Tax Period

2023-07-01 to 2024-06-30

AURORA MUSIC FOUNDATION INC DBA CANDY JERNIGAN FOUNDATION FOR THE ARTS, founded in 1975, is a small nonprofit in the Arts, Culture & Humanities sector that reported $269K in total revenue in fiscal year 2023. Revenue decreased 15% compared to the prior year. The organization ran a surplus of $256K, a strong 95% operating margin.

Mission

THE ORGANIZATION PROVIDES A FORUM FOR ENCOURAGING THE CREATION OF NEW MUSIC FORMS.

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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 $266,000

Program Service Revenue $2,508

Investment Income $452

Other Revenue $0

TOTAL REVENUE $268,960

Expense Breakdown

Grants Paid $4,500

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $4,500

Other Expenses $8,587

TOTAL EXPENSES $13,087

Year-over-Year Comparison

	2023	2022	Change
Revenue	$268,960	$316,006	-0.1%
Expenses	$13,087	$12,659	+0.0%
Net Income	$255,873	$303,347	-0.2%

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

N/A

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
PHILIP GLASS	PRESIDENT	5.00	Director	$0	$0	$0
REBECCA LITMAN	DIRECTOR	5.00	Director	$0	$0	$0
STOKES HOWELL	DIRECTOR	5.00	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
2025	No data	No data	No data	No data
2024	$268,960	$13,087	$1,685,789	$255,873
2023	$316,006	$12,659	$1,429,916	$303,347
2022	$233,510	$26,193	$1,126,569	$207,317
2021	$185,262	$17,096	$919,252	$168,166
2020	$308,040	$21,775	$781,086	$286,265
2019	$212,617	$21,615	$648,321	$191,002

AURORA MUSIC FOUNDATION INC DBA CANDY JERNIGAN FOUNDATION FOR THE ARTS