ROCK AND SOUL FOREVER FOUNDATION INC

EIN: 205397606 501(c)(3) Arts, Culture & Humanities

NEW YORK, NY

Total Revenue
$1,326,016
Total Expenses
$2,433,538
Total Assets
$1,513,579
Net Assets
$1,321,813
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2006
Legal Domicile
DE
Principal Officer
WILLIAM C CARBONE III
Phone
2128689000
Tax Period
2023-01-01 to 2023-12-31

ROCK AND SOUL FOREVER FOUNDATION INC, founded in 2006, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.3M in total revenue in fiscal year 2023. Revenue fell 50% from the prior year — a significant decline worth monitoring. Expenses of $2.4M exceeded revenue, resulting in a 84% operating deficit.

Mission

FOUNDATION DEVELOPED A NATIONAL K-12 CURRICULUM INITIATIVE CALLED "TEACHROCK". IT WAS CREATED TO ADDRESS THE CHALLENGES OF AN ENVIRONMENT IN WHICH SCHOOLS FACE CUTS TO ARTS FUNDING. TEACHROCK INCLUDES INTERDISCIPLINARY, ARTS-DRIVEN MATERIALS DESIGNED TO KEEP STUDENTS ENGAGED AND IN SCHOOL AT NO COAST TO EDUCATORS.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $449,315
Program Service Revenue $256,257
Investment Income $19,873
Other Revenue $600,571
TOTAL REVENUE $1,326,016

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,541,298
Fundraising Expenses $713,408
Program Expenses $1,252,456
Other Expenses $892,240
TOTAL EXPENSES $2,433,538

Year-over-Year Comparison

2023 2022 Change
Revenue $1,326,016 $2,673,115 -0.5%
Expenses $2,433,538 $1,887,440 +0.3%
Net Income $-1,107,522 $785,675 -2.4%
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

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Financial Distress Indicator

Liquidity & Cash Position

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

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Governance

Voting Members
8
Independent Members
8
Employees
11
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
2
$336,514
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SUSIE BUFFETT BOARD MEMBER 1.00
Director
$0 $0 $0
KEVIN KEYES BOARD MEMBER 1.00
Director
$0 $0 $0
DR JOELY PROUDFIT BOARD MEMBER 1.00
Director
$0 $0 $0
DAVID ROTH BOARD MEMBER 1.00
Director
$0 $0 $0
VAGN SORENSEN BOARD MEMBER 1.00
Director
$0 $0 $0
MAUREEN VAN ZANDT BOARD MEMBER 1.00
Director
$0 $0 $0
ROLANDO M ALVARADO DIRECTOR OF FINANCE 40.00
Officer
$108,095 $0 $108,095
WILLIAM C CARBONE EXECUTIVE DIRECTOR 30.00
Officer
$228,419 $0 $228,419
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 $1,326,016 $2,433,538 $1,513,579 $-1,107,522
2022 $2,673,115 $1,887,440 $3,145,679 $785,675
2021 $1,850,913 $1,650,668 $2,926,859 $200,245
2019 $4,512,108 $4,500,418 $4,384,728 $11,690
2018 $9,205,939 $9,279,996 $5,172,179 $-74,057
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