NEW SCHOOL OF MUSIC INC

EIN: 270511461 501(c)(3) Education

AUSTIN, TX

Total Revenue
$213,031
Total Expenses
$229,886
Total Assets
$35
Net Assets
$-147,918
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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
2013
Legal Domicile
TX
Principal Officer
RICHARD SPENCER
Tax Period
2024-04-01 to 2025-03-31

NEW SCHOOL OF MUSIC INC, founded in 2013, is a small nonprofit in the Education sector that reported $213K in total revenue in fiscal year 2024. Revenue surged 32% from the prior year, signaling strong growth momentum.

Mission

TO PROVIDE LESSONS AND PERFORMANCE EXPERIENCE FOR YOUNG MUSICIANS AT AFFORDABLE RATES, WITH SCHOLARSHIPS FOR UNDERSERVED COMMUNITIES.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $133,050
Program Service Revenue $70,230
Investment Income $51
Other Revenue $9,700
TOTAL REVENUE $213,031

Expense Breakdown

Grants Paid $255
Salaries & Benefits $57,919
Fundraising Expenses $10,148
Program Expenses $153,958
Other Expenses $171,712
TOTAL EXPENSES $229,886

Year-over-Year Comparison

2024 2023 Change
Revenue $213,031 $161,964 +0.3%
Expenses $229,886 $181,199 +0.3%
Net Income $-16,855 $-19,235 -0.1%
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

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Governance

Voting Members
6
Independent Members
5
Employees
6
Volunteers
10

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
2
$14,100
Total Directors
5
$0
Key Employees
1
$14,100
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RICHARD SPENCER SECRETARY TREASURER 40.00
Officer Key Emp
$14,100 $0 $14,100
DAVID FAZIO DIRECTOR 0.50
Director
$0 $0 $0
EVAN TANIGUCHI DIRECTOR 0.50
Director
$0 $0 $0
JOE MORALES DIRECTOR 0.50
Director
$0 $0 $0
JAY TILLMAN DIRECTOR 0.50
Director
$0 $0 $0
DON BRADEN 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 $213,031 $229,886 $35 $-16,855
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