CORNING ELMIRA MUSICAL ARTS INC OR… - 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

1995

Legal Domicile

Principal Officer

CARI I STAGE

Phone

6079362873

Tax Period

2024-07-01 to 2025-06-30

CORNING ELMIRA MUSICAL ARTS INC ORCHESTRA OF THE SOUTHERN FINGER LAKES, founded in 1995, is a small nonprofit in the Arts, Culture & Humanities sector that reported $472K in total revenue in fiscal year 2024. Revenue surged 24% from the prior year, signaling strong growth momentum.

Mission

PRODUCING SYMPHONIC MUSIC CONCERTS AND MUSIC EDUCATION PROGRAMS TO THE PUBLIC.

Program Service Accomplishments

Program 1

Expenses: $292,666

PROFESSIONAL ORCHESTRA, YOUTH ORCHESTRA AND VOLUNTEER CHORUS PERFORMANCES FOR THE PUBLIC.

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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 (2024)

Revenue Breakdown

Contributions & Grants $341,571

Program Service Revenue $109,045

Investment Income $6,319

Other Revenue $14,580

TOTAL REVENUE $471,515

Expense Breakdown

Grants Paid $0

Salaries & Benefits $167,018

Fundraising Expenses $2,920

Program Expenses $292,666

Other Expenses $346,570

TOTAL EXPENSES $513,588

Year-over-Year Comparison

	2024	2023	Change
Revenue	$471,515	$380,096	+0.2%
Expenses	$513,588	$417,718	+0.2%
Net Income	$-42,073	$-37,622	+0.1%

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

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

$72,643

Total Directors

$1,087

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KAREN DUSEK	Executive Dir.	40.00	Officer	$72,643	$0	$72,643
GARY CHOLLET	Director	2.00	Director	$1,087	$0	$1,087
KAITLIN CUTLER	Director	2.00	Director	$0	$0	$0
WILL ARGETSINGER	Treasurer	2.00	Officer Director	$0	$0	$0
TOSHIHIKO ONO	Director	2.00	Director	$0	$0	$0
TINA BEVILACQUA	Director	2.00	Director	$0	$0	$0
CARI I STAGE	President	2.00	Officer Director	$0	$0	$0
KIMBERLY ZWIRKO	Director	2.00	Director	$0	$0	$0
BENJAMIN COEFFIC	Director	2.00	Director	$0	$0	$0
KEVIN NAH	Director	2.00	Director	$0	$0	$0
DENIS KINGSLEY	Director	2.00	Director	$0	$0	$0
TAK LAP DEREK LAW	Director	4.00	Officer Director	$0	$0	$0
KAREN RONISVALLE	Secretary	2.00	Officer Director	$0	$0	$0
BENITA ELDRIDGE	Director	2.00	Director	$0	$0	$0
JENNIFER BUTLER	Director	2.00	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	$471,515	$513,588	$553,555	$-42,073
2025	No data	No data	No data	No data
2024	$380,096	$417,718	$588,007	$-37,622
2023	$369,630	$408,833	$588,541	$-39,203
2022	$499,336	$375,051	$585,455	$124,285
2021	$285,632	$155,354	$552,318	$130,278
2020	$334,189	$298,089	$336,840	$36,100
2019	$337,286	$317,409	$286,622	$19,877
2018	$287,111	$335,051	$257,955	$-47,940

CORNING ELMIRA MUSICAL ARTS INC ORCHESTRA OF THE SOUTHERN FINGER LAKES