SOCIETY FOR MUSIC THEORY IU JACOBS… - Form 990 Financial Data

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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

1977

Legal Domicile

Principal Officer

JAN MIYAKE

Phone

4407758236

Tax Period

2023-01-01 to 2023-12-31

SOCIETY FOR MUSIC THEORY IU JACOBS SCHOOL OF MUSIC, founded in 1977, is a small nonprofit in the Arts, Culture & Humanities sector that reported $180K in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $158K left a modest 12% surplus.

Mission

THE SOCIETY FOR MUSIC THEORY PROMOTES THE DEVELOPMENT AND ENGAGEMENT WITH MUSIC THEORY AS A SCHOLARLY AND PEDAGOGICAL DISCIPLINE.

Program Service Accomplishments

Program 1

Expenses: $25,231

PUBLISH MUSIC THEORY SPECTRUM (SCHOLARLY JOURNAL, PUBLISH MUSIC THEORY ONLINE (SCHOLARLY ONLINE JOURNAL), PUBLISH SMT-V (SCHOLARLY VLOG/VIDEO JOURNAL), PUBLISH SMT-POD (SCHOLARLY PODCAST). OVER 1,000 MEMBERS TOOK ADVANTAGE OF SERVICES IN 2023. MUSIC THEORY SPECTRUM PUBLISHED ELEVEN FULL-LENGTH ARTICLES AND A COLLOQUY WITH ELEVEN CONTRIBUTES, AS WELL AS TWO SHORTER ARTICLES AND 4 BOOK REVIEWS, AND HAD OVER 100 INSTITUTIONAL SUBSCRIBERS. MUSIC THEORY ONLINE PUBLISHED FOUR NEW ISSUES, SMT-V PUBLISHED SIX NEW VIDEOS ESSAYS, AND SMT-POD PUBLISHED ELEVEN NEW EPISODES.

Program 2

Expenses: $15,706

PROVIDE SUBVENTIONS FOR THE PUBLICATION OF ACADEMIC WORK IN MUSIC THEORY; RUN COMPETITIONS AND APPLICATION REVIEW PROCESSES FOR AUTHORS SEEKING PUBLICATION SUBVENTIONS, PROVIDE GRANTS FOR SCHOLARS TO HOST SPECIAL-TOPIC ACADEMIC CONFERENCES. DURING 2023, EIGHT SCHOLARS RECEIVED GRANTS TOTALING JUST UNDER 7,000 FOR PUBLICATIONS AND CONFERENCES, AND TWO SCHOLARS RECEIVED A DISSERTATION AWARD.

Program 3

Expenses: $68,764

HOST ANNUAL SCHOLARLY CONFERENCE INCLUDING SPECIAL-TOPICS PEER-LEARNING WORKSHOPS FOR BOTH GRADUATE STUDENTS AND SCHOLARS. PROVIDE DIVERSITY AND FAMILY-CARE GRANTS TO ENABLE A DIVERSE POPULATION TO ATTEND. IN NOVEMBER 2023 WE MET JOINTLY WITH THE AMERICAN MUSICOLOGICAL SOCIETY IN DENVER TO PARTICIPATE IN PROFESSIONAL DEVELOPMENT WORKSHOPS AND ENGAGE IN SCHOLARLY EXCHANGE. EIGHTEEN MEMBERS RECEIVED TRAVEL GRANTS TOTALING OVER 8,000 TO PARTIALLY OFFSET EXPENSES.

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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 $25,075

Program Service Revenue $138,630

Investment Income $15,856

Other Revenue $140

TOTAL REVENUE $179,701

Expense Breakdown

Grants Paid $22,734

Salaries & Benefits $0

Fundraising Expenses $150

Program Expenses $118,753

Other Expenses $135,697

TOTAL EXPENSES $158,431

Year-over-Year Comparison

	2023	2022	Change
Revenue	$179,701	$159,702	+0.1%
Expenses	$158,431	$157,761	+0.0%
Net Income	$21,270	$1,941	+10.0%

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

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
MICHAEL BUCHLER	PRESIDENT	17.00	Director	$0	$0	$0
CHELSEA BURNS	AT LARGE	2.50	Director	$0	$0	$0
JENNIFER DIAZ	EXECUTIVE DI	34.00	Officer Director	$0	$0	$0
NORA ENGEBRETSEN	TREASURER	4.00	Officer Director	$0	$0	$0
MORWAREAD FARBOOD	MEMBER-AT-LA	0.50	Director	$0	$0	$0
CYNTHIA GONZALES	MEMBER-AT-LA	1.00	Director	$0	$0	$0
SUMANTH GOPINATH	MEMBER-AT-LA	1.00	Director	$0	$0	$0
AINE HENEGHAN	VICE PRESIDE	3.00	Director	$0	$0	$0
MELISSA HOAG	MEMBER-AT-LA	1.00	Director	$0	$0	$0
DANIEL J JENKINS	MEMBER-AT-LA	1.00	Director	$0	$0	$0
CHARITY LOFTHOUSE	SECRETARY	2.00	Officer Director	$0	$0	$0
HORACE MAXILE	MEMBER-AT-LA	1.00	Director	$0	$0	$0
JAN MIYAKE	PRESIDENT	5.00	Officer Director	$0	$0	$0
DAPHNE TAN	MEMBER-AT-LA	0.50	Director	$0	$0	$0
LEIGH VANHANDEL	VICE-PRESIDE	5.00	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	No data	No data	No data	No data
2023	$179,701	$158,431	$902,478	$21,270
2022	$159,702	$157,761	$784,160	$1,941
2021	$236,159	$166,376	$948,185	$69,783
2020	$191,695	$153,583	$789,121	$38,112
2019	$233,999	$203,113	$669,849	$30,886
2018	$134,462	$123,016	$548,790	$11,446

SOCIETY FOR MUSIC THEORY IU JACOBS SCHOOL OF MUSIC