SALT LAKE MUSIC SCHOOL FOUNDATION (EIN 263463598) - 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

2009

Legal Domicile

Principal Officer

EUGENE WATANABE

Phone

3852227787

Tax Period

2023-06-01 to 2024-05-31

SALT LAKE MUSIC SCHOOL FOUNDATION, founded in 2009, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.4M in total revenue in fiscal year 2023. Expenses of $1.3M left a modest 10% surplus.

Mission

GIFTED MUSIC SCHOOL NURTURES THE ARTISTRY, CHARACTER, AND SKILLS VITAL TO A HEALTHY COMMUNITY THROUGH EXCEPTIONAL COMPREHENSIVE MUSIC EDUCATION.

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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 $851,613

Program Service Revenue $616,741

Investment Income $2,303

Other Revenue $-23,405

TOTAL REVENUE $1,447,252

Expense Breakdown

Grants Paid $1,500

Salaries & Benefits $966,260

Fundraising Expenses $85,207

Program Expenses $1,037,157

Other Expenses $308,320

TOTAL EXPENSES $1,306,080

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,447,252	$1,410,093	+0.0%
Expenses	$1,306,080	$1,697,413	-0.2%
Net Income	$141,172	$-287,320	-1.5%

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

200

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

$159,094

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EUGENE WATANABE	EXECUTIVE D	70.00	Officer	$88,478	$13,416	$101,894
JUSTIN MORGAN	EXECUTIVE DI	40.00	Officer	$57,200	$0	$57,200
DIANA PETERSON	CHAIR	20.00	Officer Director	$0	$0	$0
RICHARD TAYLOR	VICE CHAIR	4.00	Officer Director	$0	$0	$0
SAM ANDERSON	TREASURER	3.00	Officer Director	$0	$0	$0
ART DUMMER	PAST CHAIR	20.00	Director	$0	$0	$0
DEBORAH MOENCH	BOARD MEMBER	30.00	Director	$0	$0	$0
KAREN PETERSON	BOARD MEMBER	1.00	Director	$0	$0	$0
BARRY BICKMORE	BOARD MEMBER	1.00	Director	$0	$0	$0
RACHAEL IVORY	BOARD MEMBER	1.00	Director	$0	$0	$0
GREG TRIMBLE	BOARD MEMBER	5.00	Director	$0	$0	$0
JOSH WHISENANT	BOARD MEMBER	7.00	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	$1,447,252	$1,306,080	$1,628,475	$141,172
2024	$339,397	$295,983	$1,686,597	$43,414
2023	$1,410,093	$1,697,413	$1,610,994	$-287,320
2022	$1,620,833	$1,147,735	$1,998,062	$473,098
2021	$958,058	$1,137,763	$1,968,957	$-179,705

SALT LAKE MUSIC SCHOOL FOUNDATION