CENTER FOR IRISH MUSIC INC

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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

2006

Legal Domicile

Principal Officer

GREG PADDEN

Phone

6518150083

Tax Period

2024-07-01 to 2025-06-30

CENTER FOR IRISH MUSIC INC, founded in 2006, is a small nonprofit in the Arts, Culture & Humanities sector that reported $642K in total revenue in fiscal year 2024. Revenue decreased 19% compared to the prior year.

Mission

TO OFFER INSPIRATION AND INSTRUCTION IN TRADITIONAL IRISH MUSIC IN THE GREATER TWIN CITIES (ST. PAUL/MINNEAPOLIS) COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $508,318 Revenue: $366,988

IN FY25, THE CENTER FOR IRISH MUSIC SERVED OVER 435 STUDENTS, AGES 6 MONTHS TO 82 YEARS, WITH WEEKLY PRIVATE LESSONS, GROUP CLASSES, AND ENSEMBLES ON 16 INSTRUMENTS ON BOTH VIRTUAL AND IN-PERSON...

IN FY25, THE CENTER FOR IRISH MUSIC SERVED OVER 435 STUDENTS, AGES 6 MONTHS TO 82 YEARS, WITH WEEKLY PRIVATE LESSONS, GROUP CLASSES, AND ENSEMBLES ON 16 INSTRUMENTS ON BOTH VIRTUAL AND IN-PERSON PLATFORMS. IN JUNE 2025, CIM PRESENTED THE 17TH ANNUAL MINNESOTA IRISH MUSIC WEEKEND (MIM), A UNIQUE FESTIVAL THAT PAIRS WORLD-CLASS TRADITIONAL IRISH MUSICIANS AND TEACHERS WITH LEARNERS OF ALL AGES FOR A WEEKEND OF WORKSHOPS, LECTURES, SESSIONS, AND CONCERTS.

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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 $275,215

Program Service Revenue $364,112

Investment Income $0

Other Revenue $2,876

TOTAL REVENUE $642,203

Expense Breakdown

Grants Paid $600

Salaries & Benefits $239,853

Fundraising Expenses $42,516

Program Expenses $508,318

Other Expenses $446,842

TOTAL EXPENSES $687,295

Year-over-Year Comparison

	2024	2023	Change
Revenue	$642,203	$796,016	-0.2%
Expenses	$687,295	$619,313	+0.1%
Net Income	$-45,092	$176,703	-1.3%

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

127

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

$81,597

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NICOLE BOOR	TREASURER	1.90	Officer Director	$0	$0	$0
DAVID MCKENNA	PRESIDENT	2.30	Officer Director	$0	$0	$0
JAN CASEY	VICE PRESIDENT	1.40	Officer Director	$0	$0	$0
MIKE LYNCH	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL O'CONNOR	DIRECTOR	1.90	Director	$0	$0	$0
GREG PADDEN	DIRECTOR	1.00	Director	$0	$0	$0
JO ANN VANO	DIRECTOR	2.50	Director	$0	$0	$0
SAMANTHA JEKOT-GRAHAM	DIRECTOR	0.40	Director	$0	$0	$0
BECKY BOLLINGER	DIRECTOR	1.50	Director	$0	$0	$0
JEFF LARSEN	DIRECTOR	1.00	Director	$0	$0	$0
KAREN SMITH	SECRETARY	1.60	Officer Director	$0	$0	$0
NORAH RENDELL	EXECUTIVE ARTISTIC DIRECTO	40.00	Officer	$81,597	$0	$81,597

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
2025	$642,203	$687,295	$872,895	$-45,092
2024	$796,016	$619,313	$974,993	$176,703
2023	$748,864	$558,480	$494,883	$190,384
2022	$515,929	$512,437	$269,907	$3,492
2021	$448,686	$403,138	$257,687	$45,548
2020	$431,108	$399,411	$187,990	$31,697
2019	$382,941	$356,042	$154,779	$26,899