WESTRICK MUSIC ACADEMY INC (EIN 223212405) - 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

Principal Officer

NOREEN GOLDBERG

Phone

6096881888

Tax Period

2024-09-01 to 2025-08-31

WESTRICK MUSIC ACADEMY INC, founded in 1993, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.0M in total revenue in fiscal year 2024. Revenue surged 29% from the prior year, signaling strong growth momentum.

Mission

WESTRICK MUSIC ACADEMY PROVIDES OPPORTUNITIES TO GROW THROUGH THE PURSUIT OF MUSICAL EXCELLENCE IN A SUPPORTIVE, COLLABORATIVE, AND JOYOUS ENVIRONMENT FOR YOUTH CHORISTERS AND MUSICIANS OF ALL AGES IN THE CENTRAL NEW JERSEY AND BUCKS COUNTY, PENNSYLVANIA, REGIONS.

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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 $308,268

Program Service Revenue $707,544

Investment Income $24,083

Other Revenue $0

TOTAL REVENUE $1,039,895

Expense Breakdown

Grants Paid $0

Salaries & Benefits $455,377

Fundraising Expenses $41,868

Program Expenses $841,723

Other Expenses $647,682

TOTAL EXPENSES $1,103,059

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,039,895	$809,100	+0.3%
Expenses	$1,103,059	$854,265	+0.3%
Net Income	$-63,164	$-45,165	+0.4%

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

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

$103,116

Total Directors

$103,116

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LORRAINE GOODMAN	E D EX OFFIC	40.00	Officer Director	$95,877	$7,239	$103,116
OLGA BARBANEL	TRUSTESS	2.00	Director	$0	$0	$0
TINA BISWAS	TRUSTEES	2.00	Officer Director	$0	$0	$0
JILLIAN CORN	TRUSTEES	2.00	Director	$0	$0	$0
NOREEN GOLDBERG	EXECUTIVE DI	40.00	Officer Director	$0	$0	$0
PRATHIMA IGNATIUS	TRUSTEES	2.00	Director	$0	$0	$0
CHERI ROSE KATZ	TRUSTEES	2.00	Director	$0	$0	$0
KRISTY V KYRIAKOPOULOS	TRUSTEES	2.00	Director	$0	$0	$0
RYAN MANNI-BRENNAN	TRUSTEES	2.00	Director	$0	$0	$0
MITESH PARIKH	TREASURER	2.00	Officer Director	$0	$0	$0
BESS PLOENER	SECRETARY	2.00	Officer Director	$0	$0	$0
JOAN VALCIN	CO PRESIDENT	2.00	Officer Director	$0	$0	$0
JESSICA VIEIRA	TRUSTEES	2.00	Director	$0	$0	$0
SHIRLEY WANG	TRUSTEES	2.00	Director	$0	$0	$0
MARY JANE WEISS	CO PRESIDENT	2.00	Officer 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
2025	$1,039,895	$1,103,059	$1,124,571	$-63,164
2023	$897,941	$999,905	$1,148,184	$-101,964
2022	$775,626	$897,671	$619,346	$-122,045
2021	$844,881	$824,914	$802,325	$19,967
2020	$855,755	$792,012	$810,686	$63,743
2018	$986,818	$982,929	$573,284	$3,889

WESTRICK MUSIC ACADEMY INC