The David Hochstein Memorial Music… - 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

1920

Legal Domicile

Principal Officer

Dr Gary Palmer

Phone

5854544596

Tax Period

2023-07-01 to 2024-06-30

The David Hochstein Memorial Music School Inc, founded in 1920, is a community nonprofit in the Arts, Culture & Humanities sector that reported $4.5M in total revenue in fiscal year 2023. Expenses of $4.1M left a modest 7% surplus.

Mission

The David Hochstein Memorial Music School, Inc. provides people of all ages, backgrounds, and abilities with access to excellent music and dance education in a community that nurtures and encourages personal achievement.

Program Service Accomplishments

Program 1

Expenses: $2,376,828 Revenue: $1,806,487

Music and Dance: 2,250 students aged infants to senior citizens were served in 36-week school year and 6-week summer sessions, taking weekly individual lessons, musicianship and dance classes, vocal and instrumental ensembles (chamber music, choirs, bands, jazz and rock combos, orchestras), to develop skills and knowledge in music and dance. Instruction took place either in person or virtually, as needed.

Program 2

Expenses: $635,129 Revenue: $515,763

Expressive Arts (1,564 total served): 150 clients were served throughout 36-week school year and 6-week summer sessions onsite and 1,414 clients in 45 program weeks at community sites; students from preschool to senior citizen ages participated in weekly individual music, dance, and/or art therapy sessions and/or group sessions, to develop cognitive, physical, social, and emotional skills contributing to their independence and quality of life. Clients were served either in person or virtually, as needed.

Program 3

Expenses: $111,164

ROCmusic: From 2023-2024, the ROCmusic program, a collaborative of The Hochstein School, Eastman School, Eastman Community Music School, City of Rochester, Rochester City School District, Rochester Philharmonic Orchestra, served 147 City of Rochester student residents in grades 1-12. ROCmusic provided free after school music instruction at four different recreation centers in Rochester, 22 opportunities for students to perform in the community, and access to numerous arts and cultural events in the area. Classes include instruction on string, brass, and rhythm section instruments. Hochstein serves as the fiscal agent for the ROCmusic collaborative.

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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 $1,687,517

Program Service Revenue $2,314,644

Investment Income $214,466

Other Revenue $253,206

TOTAL REVENUE $4,469,833

Expense Breakdown

Grants Paid $348,240

Salaries & Benefits $2,630,180

Fundraising Expenses $224,179

Program Expenses $3,123,121

Other Expenses $1,102,837

TOTAL EXPENSES $4,138,220

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,469,833	$4,370,404	+0.0%
Expenses	$4,138,220	$3,700,139	+0.1%
Net Income	$331,613	$670,265	-0.5%

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

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Liquidity & Cash Position

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

Governance

Voting Members

Independent Members

Employees

186

Volunteers

200

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

$148,696

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Margaret Rachfal	Director	0.50	Director	$0	$0	$0
Nancy Reale	Chair	0.40	Officer Director	$0	$0	$0
Jeffrey Wright	Director	0.30	Director	$0	$0	$0
Christopher Shea	Director (through 9/23)	0.10	Director	$0	$0	$0
Mary Steblein	Director	0.40	Director	$0	$0	$0
Virgil Joseph	Director	0.30	Director	$0	$0	$0
Steven Morse	Director	0.20	Director	$0	$0	$0
Anthony Piazza Esq	Director	0.30	Director	$0	$0	$0
Michael Reed	Director	0.20	Director	$0	$0	$0
Judith Ricker	Director	0.40	Director	$0	$0	$0
Sidney Sobel MD	Director	0.20	Director	$0	$0	$0
Laurie Coles Esq	Director (through 9/23)	0.20	Director	$0	$0	$0
Aimee Jozic	Treasurer	0.40	Officer Director	$0	$0	$0
Maureen Rutecki	Director	0.40	Director	$0	$0	$0
Stephen Burke	Director (through 10/23)	0.10	Director	$0	$0	$0
Neal Burns	Director	0.50	Director	$0	$0	$0
R Carlos Carballada	Director	0.10	Director	$0	$0	$0
Linda G Gillim	Director	0.20	Director	$0	$0	$0
Christopher Hasenauer	Director	0.20	Director	$0	$0	$0
Eric Logan	Vice Chair	0.40	Officer Director	$0	$0	$0
John Nutter Esq	Director	0.30	Director	$0	$0	$0
Deborah Onslow	Secretary	0.50	Officer Director	$0	$0	$0
Idonia Owens Ed D	Director	0.10	Director	$0	$0	$0
Isaac Figueras Esq	Director	0.50	Director	$0	$0	$0
Susan Herendeen	Director	0.10	Director	$0	$0	$0
Lawana Jones	Director (through 9/23)	0.10	Director	$0	$0	$0
Karen Fairhead	Director	0.30	Director	$0	$0	$0
Alexandra Justis	Director	0.30	Director	$0	$0	$0
Michael Rotondo	Director	0.10	Director	$0	$0	$0
Jean Ryon	Director	0.20	Director	$0	$0	$0
Jeffrey Smith	Director	0.20	Director	$0	$0	$0
Gareth Warren	Director	0.10	Director	$0	$0	$0
Patty Yarmel	Director	0.20	Director	$0	$0	$0
Hilary Field Respass	President/Executive Director	40.00	Officer	$145,000	$3,696	$148,696

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	$4,469,833	$4,138,220	$10,964,333	$331,613
2023	$4,370,404	$3,700,139	$10,188,358	$670,265
2022	$4,251,000	$3,398,494	$9,075,130	$852,506
2021	$3,414,239	$2,867,926	$9,808,333	$546,313
2020	$2,998,577	$3,183,541	$8,200,514	$-184,964
2019	$3,087,864	$3,184,383	$7,799,077	$-96,519

The David Hochstein Memorial Music School Inc