Songfest Inc (EIN 260014803) - 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

2002

Legal Domicile

Principal Officer

Rosemary Ritter

Phone

3103843706

Tax Period

2023-09-01 to 2024-08-31

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.

Mission

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

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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 $28,250

Program Service Revenue $199,625

Investment Income $10,445

Other Revenue $0

TOTAL REVENUE $238,320

Expense Breakdown

Grants Paid $0

Salaries & Benefits $75,805

Fundraising Expenses $10,789

Program Expenses $307,926

Other Expenses $270,078

TOTAL EXPENSES $345,883

Year-over-Year Comparison

	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%

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

$71,250

Total Directors

Key Employees

Highest Compensated

reported

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

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	$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

Songfest Inc