Newark Boys Chorus School (EIN 221893378) - 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

1969

Legal Domicile

Principal Officer

Rober Wright Esq

Phone

9736218900

Tax Period

2023-07-01 to 2024-06-30

Newark Boys Chorus School, founded in 1969, is a small nonprofit in the Education sector that reported $194K in total revenue in fiscal year 2023. Revenue fell 69% from the prior year — a significant decline worth monitoring. Expenses of $758K exceeded revenue, resulting in a 291% operating deficit.

Mission

To develop our students into young men of sound character through Rigorous academics

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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 (2023)

Revenue Breakdown

Contributions & Grants $193,739

Program Service Revenue $87

Investment Income $0

Other Revenue $-147

TOTAL REVENUE $193,679

Expense Breakdown

Grants Paid $0

Salaries & Benefits $452,100

Fundraising Expenses $168,707

Program Expenses $549,638

Other Expenses $305,511

TOTAL EXPENSES $757,611

Year-over-Year Comparison

	2023	2022	Change
Revenue	$193,679	$624,381	-0.7%
Expenses	$757,611	$1,151,922	-0.3%
Net Income	$-563,932	$-527,541	+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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Robert Wright	Chairman	2.00	Officer Director	$0	$0	$0
Mary Bentley Lamar	Vice Chair	2.00	Officer Director	$0	$0	$0
Frank Melaccio	Treasurer	2.00	Officer Director	$0	$0	$0
Jerome Kearns	Secretary	2.00	Officer Director	$0	$0	$0
Jason McNish	Board Chief of Staff	2.00	Officer Director	$0	$0	$0
Brenda Beavers-Simpson	Board Member	2.00	Director	$0	$0	$0
Craig Dewling	Board Member	2.00	Director	$0	$0	$0
Rachel Honig	Board Member	2.00	Director	$0	$0	$0
Nicholas Wiggins	Board Member	2.00	Director	$0	$0	$0
Richard Allaway	Board Member	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
2024	$193,679	$757,611	$89,188	$-563,932
2023	$624,381	$1,151,922	$559,414	$-527,541
2022	$885,607	$1,189,235	$1,175,659	$-303,628
2021	$2,196,384	$976,953	$1,670,876	$1,219,431
2020	$1,336,848	$1,106,725	$431,017	$230,123
2019	$704,369	$1,114,294	$859,093	$-409,925
2018	$698,698	$888,715	$497,318	$-190,017

Newark Boys Chorus School