GATEWAYS MUSIC FESTIVAL INC (EIN 161562873) - 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

1993

Legal Domicile

Principal Officer

ALEXANDER LAING

Phone

5852741170

Tax Period

2024-07-01 to 2025-06-30

GATEWAYS MUSIC FESTIVAL INC, founded in 1993, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.4M in total revenue in fiscal year 2024. Revenue fell 31% from the prior year — a significant decline worth monitoring. Expenses of $1.9M exceeded revenue, resulting in a 40% operating deficit.

Mission

THE ORGANIZATION'S MISSION IS TO CONNECT AND SUPPORT PROFESSIONAL CLASSICAL MUSICIANS OF AFRICAN DESCENT AND INSPIRE AND ENLIGHTEN COMMUNITIES THROUGH THE POWER OF PERFORMANCE.

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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 $1,225,252

Program Service Revenue $124,716

Investment Income $25,335

Other Revenue $0

TOTAL REVENUE $1,375,303

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $374,881

Program Expenses $1,288,856

Other Expenses $1,788,659

TOTAL EXPENSES $1,921,359

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,375,303	$1,980,385	-0.3%
Expenses	$1,921,359	$2,038,230	-0.1%
Net Income	$-546,056	$-57,845	+8.4%

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

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
KEARSTIN PIPER BROWN	CHAIR	1.00	Officer Director	$0	$0	$0
GREGORY EWING	TREASURER (AS OF MARCH 2025)	1.00	Officer Director	$0	$0	$0
TONI-MARIE MONTGOMERY	VICE CHAIR	1.00	Officer Director	$0	$0	$0
LEE KOONCE	DIRECTOR	1.00	Director	$0	$0	$0
JAMES NORMAN	DIRECTOR	1.00	Director	$0	$0	$0
AMADI AZIKIWE	DIRECTOR	1.00	Director	$0	$0	$0
SONIA JAMES-WILSON	DIRECTOR	1.00	Director	$0	$0	$0
DOUGLAS PHILLIPS	DIRECTOR	1.00	Director	$0	$0	$0
KATE WASHINGTON	SECRETARY	1.00	Officer Director	$0	$0	$0
JESSE ROSEN	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT WERTH	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN FEDER	DIRECTOR	1.00	Director	$0	$0	$0
TIA GRAHAM	DIRECTOR	1.00	Director	$0	$0	$0
SHARON HATCHETT	DIRECTOR	1.00	Director	$0	$0	$0
KATE SHEERAN	DIRECTOR	1.00	Director	$0	$0	$0
ROGER SMITH	TREASURER (THROUGH DEC. 2024)	1.00	Officer Director	$0	$0	$0
ALEXANDER LAING	PRESIDENT AND ARTISTIC DIR	40.00	Officer	$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	$1,375,303	$1,921,359	$1,856,642	$-546,056
2024	$1,980,385	$2,038,230	$2,391,490	$-57,845
2023	$528,138	$432,381	$2,239,099	$95,757
2022	$1,485,207	$1,426,168	$1,067,611	$59,039
2021	$436,343	$440,385	$1,546,236	$-4,042
2020	$246,922	$180,295	$411,506	$66,627
2019	$335,481	$433,585	$347,747	$-98,104
2018	$403,934	$64,893	$348,947	$339,041

GATEWAYS MUSIC FESTIVAL INC