The Masterwork Music & Art Foundation

EIN: 221717253 501(c)(3) Arts, Culture & Humanities

CRANFORD, NJ

Total Revenue
$56,405
Total Expenses
$51,306
Total Assets
$1,018,297
Net Assets
$1,018,297
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1955
Legal Domicile
NJ
Principal Officer
SULMON A JAVED PRESIDENT
Phone
9732226752
Tax Period
2023-07-01 to 2024-06-30

The Masterwork Music & Art Foundation, founded in 1955, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $56K in total revenue in fiscal year 2023. Revenue surged 40% from the prior year, signaling strong growth momentum. Expenses of $51K left a modest 9% surplus.

Mission

To promote and support the arts

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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 $1,710
Program Service Revenue $0
Investment Income $54,695
Other Revenue $0
TOTAL REVENUE $56,405

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $51,306
Other Expenses $51,306
TOTAL EXPENSES $51,306

Year-over-Year Comparison

2023 2022 Change
Revenue $56,405 $40,276 +0.4%
Expenses $51,306 $36,216 +0.4%
Net Income $5,099 $4,060 +0.3%
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

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Governance

Voting Members
12
Independent Members
12
Employees
N/A
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
4
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SULMON A JAVED PRESIDENT 2.00
Officer
$0 $0 $0
GWYNETH MOONEY TREASURER 2.00
Officer
$0 $0 $0
JOSEPH WHITE SECRETARY 1.00
Officer
$0 $0 $0
MATHEWS PHILIPS VICE PRESIDENT 2.00
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
2024 $56,405 $51,306 $1,018,297 $5,099
2023 $40,276 $36,216 $993,849 $4,060
2022 $40,728 $75,698 $1,013,069 $-34,970
2021 $40,691 $41,977 $1,166,679 $-1,286
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