Cincinnati, OH
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)Songfest Inc, founded in 2002, is a small nonprofit in the Arts, Culture & Humanities sector that reported $238K in total revenue in fiscal year 2023. Revenue fell 78% from the prior year — a significant decline worth monitoring. Expenses of $346K exceeded revenue, resulting in a 45% operating deficit.
SongFest strives to ensure the future of art song with an emphasis on American song, by providing young classical singers and pianists with training and performance opportunities with the most distinguided artists in the field in a supportive and challenging, musical environment. With a long history of faculty from leading music
Songfest is a training program and festival for classical singers and pianists. It is considered to be the finest festival or art song in the Unites States. Songfest 2023 was held at Vanderbilt...
Songfest is a training program and festival for classical singers and pianists. It is considered to be the finest festival or art song in the Unites States. Songfest 2023 was held at Vanderbilt University and 2024 at Pomona College. There were 65 participants ranging in age from 20-30. They were from all the major music schools nationwide, and from Canada, South America, Germany and Asia. The rental costs at both venues were significantly higher after Covid. Songfest no longer receives grants from The Getty Foundation, The Marc and Eva Stern Foundation and the Los Angeles County Arts Commission. This was a loss of approx $44,000 as these grants were specific to Southern California organizations. Private donations were down also. Administrative personnel were furloughed. Rosemary Ritter, director, is the only administrator on payroll. Musically, the program continues to flourish. Guest artist and Opera Singer Frederica von Stade donated her time and presented a master class and recital.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $238,320 | $1,065,949 | -0.8% |
| Expenses | $345,883 | $536,279 | -0.4% |
| Net Income | $-107,563 | $529,670 | -1.2% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
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Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| Rosemary Ritter | President | 50.00 |
Officer
|
$71,250 | $0 | $71,250 |
| John D Forbess Esq | Vice President | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| John Steele Ritter | Treasurer | 5.00 |
Director
|
$0 | $0 | $0 |
| Elayne K Garber MD | Director | 0.20 |
Director
|
$0 | $0 | $0 |
| Sarah Stipanowich | Secretary | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $238,320 | $345,883 | $2,278,528 | $-107,563 |
| 2023 | $1,065,949 | $536,279 | $1,851,371 | $529,670 |
| 2023 | $1,065,949 | $536,279 | $1,851,371 | $529,670 |
| 2022 | $435,777 | $572,987 | $1,139,668 | $-137,210 |
| 2021 | $49,518 | $101,340 | $1,266,049 | $-51,822 |
| 2020 | $60,671 | $159,071 | $1,066,001 | $-98,400 |
| 2019 | $546,196 | $542,847 | $1,008,435 | $3,349 |
| 2018 | $514,121 | $505,217 | $938,180 | $8,904 |
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