MUSIC CENTER FOUNDATION

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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

1973

Legal Domicile

Principal Officer

JUSTIN F MARSH

Phone

2139728046

Tax Period

2024-04-01 to 2025-03-31

MUSIC CENTER FOUNDATION, founded in 1973, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $14.9M in total revenue in fiscal year 2024. Revenue surged 42% from the prior year, signaling strong growth momentum. The organization ran a surplus of $5.8M, a strong 39% operating margin.

Mission

THE MISSION OF MUSIC CENTER FOUNDATION IS TO PROVIDE ENDOWMENT SUPPORT TO THE MUSIC CENTER PERFORMING ARTS CENTER OF LOS ANGELES COUNTY, ITS EDUCATION AND ARTISTIC PROGRAMS AND RESIDENT COMPANIES THROUGH PLANNED GIVING FUNDRAISING AND ASSET MANAGEMENT.

Program Service Accomplishments

Program 1

Expenses: $7,007,013 Revenue: $0

ENDOWMENT DISTRIBUTIONS TO THE MUSIC CENTER/PERFORMING ARTS CENTER OF LOS ANGELES COUNTY, ITS EDUCATIONAL ACTIVITIES AND ITS AFFILIATED PERFORMING ARTS COMPANIES WHICH INCLUDE LOS ANGELES...

ENDOWMENT DISTRIBUTIONS TO THE MUSIC CENTER/PERFORMING ARTS CENTER OF LOS ANGELES COUNTY, ITS EDUCATIONAL ACTIVITIES AND ITS AFFILIATED PERFORMING ARTS COMPANIES WHICH INCLUDE LOS ANGELES PHILHARMONIC ASSOCIATION, CENTER THEATRE GROUP, LOS ANGELES OPERA COMPANY AND THE LOS ANGELES MASTER CHORALE.

Program 2

Expenses: $1,046,848 Revenue: $0

THE MUSIC CENTER FOUNDATION'S LAPA FUND MAKES DISTRIBUTIONS TO THE LOS ANGELES PHILHARMONIC ASSOCIATION.

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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 $5,642,163

Program Service Revenue $0

Investment Income $9,209,860

Other Revenue $0

TOTAL REVENUE $14,852,023

Expense Breakdown

Grants Paid $8,053,861

Salaries & Benefits $701,859

Fundraising Expenses $442,039

Program Expenses $8,053,861

Other Expenses $329,025

TOTAL EXPENSES $9,084,745

Year-over-Year Comparison

	2024	2023	Change
Revenue	$14,852,023	$10,480,339	+0.4%
Expenses	$9,084,745	$10,080,290	-0.1%
Net Income	$5,767,278	$400,049	+13.4%

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

$422,271

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVEN T BENSON	PRESIDENT AND CEO	40.00	Officer	$367,749	$54,522	$422,271
JENNIFER NHIEU	CONTROLLER	35.00	Highest	$103,394	$23,910	$127,304
SHELBY NOTKIN	CHAIRMAN	1.00	Officer Director	$0	$0	$0
KIKI R GINDLER	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
KENNETH S WILLIAMS	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
THOMAS L BECKMEN	DIRECTOR (THRU 05/24)	1.00	Director	$0	$0	$0
JOHN B EMERSON	DIRECTOR	1.00	Director	$0	$0	$0
AMY R FORBES	DIRECTOR	1.00	Director	$0	$0	$0
DARELL L KRASNOFF	DIRECTOR	1.00	Director	$0	$0	$0
KEITH LEONARD	DIRECTOR	1.00	Director	$0	$0	$0
KELSEY N MARTIN	DIRECTOR	1.00	Director	$0	$0	$0
ELIZABETH MICHELSON	DIRECTOR	1.00	Director	$0	$0	$0
CINDY MISCIKOWSKI	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN REARDON	DIRECTOR (AS OF 11/24)	1.00	Director	$0	$0	$0
JEFFREY SOROS	DIRECTOR	1.00	Director	$0	$0	$0
ERIC STERN	DIRECTOR (AS OF 11/24)	1.00	Director	$0	$0	$0
JASON SUBOTKY	DIRECTOR (AS OF 11/24)	1.00	Director	$0	$0	$0
PHILIP SWAN	DIRECTOR	1.00	Director	$0	$0	$0
SUE WEGLEITNER	DIRECTOR	1.00	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
2025	$14,852,023	$9,084,745	$314,072,066	$5,767,278
2024	$10,480,339	$10,080,290	$306,563,538	$400,049
2023	$2,501,518	$9,113,867	$285,118,946	$-6,612,349
2022	$21,090,065	$26,234,757	$314,452,554	$-5,144,692
2021	$8,558,391	$8,399,396	$340,652,329	$158,995
2020	$3,922,014	$8,657,561	$250,555,015	$-4,735,547
2019	$6,205,031	$9,103,620	$285,498,844	$-2,898,589
2018	$7,229,918	$8,510,837	$302,721,044	$-1,280,919