THE RECORD COMPANY INC

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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

BOBBY BOYD

Phone

6177650155

Tax Period

2024-07-01 to 2025-06-30

THE RECORD COMPANY INC, founded in 2009, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.1M in total revenue in fiscal year 2024. Revenue decreased 13% compared to the prior year. Expenses of $2.5M exceeded revenue, resulting in a 19% operating deficit.

Mission

TO REMOVE THE TECHNICAL AND SOCIAL BARRIERS BETWEEN BOSTON'S MUSIC MAKERS AND THEIR CREATIVE VISIONS THROUGH TRULY AFFORDABLE MUSIC WORKSPACE AND PROFESSIONAL DEVELOPMENT PROGRAMS.

Program Service Accomplishments

Program 1

Expenses: $1,789,751 Revenue: $1,109,414

THE RECORD COMPANY ("TRC") WAS FORMED TO REMOVE TECHNICAL AND SOCIAL BARRIERS BETWEEN BOSTON MUSIC MAKERS AND THEIR CREATIVE VISIONS BY PROVIDING AN AFFORDABLE COMMUNITY WORKSPACE AND EQUITABLE...

THE RECORD COMPANY ("TRC") WAS FORMED TO REMOVE TECHNICAL AND SOCIAL BARRIERS BETWEEN BOSTON MUSIC MAKERS AND THEIR CREATIVE VISIONS BY PROVIDING AN AFFORDABLE COMMUNITY WORKSPACE AND EQUITABLE PROFESSIONAL DEVELOPMENT PROGRAMS. ADDITIONALLY, TRC HAS HELPED ARTISTS GROW AND DEVELOP THEIR ARTISTRY THROUGH PROFESSIONAL COMMUNITY DEVELOPMENT PROJECTS.

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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 $943,966

Program Service Revenue $1,109,414

Investment Income $26,965

Other Revenue $1,950

TOTAL REVENUE $2,082,295

Expense Breakdown

Grants Paid $0

Salaries & Benefits $663,484

Fundraising Expenses $212,358

Program Expenses $1,789,751

Other Expenses $1,821,919

TOTAL EXPENSES $2,485,403

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,082,295	$2,394,889	-0.1%
Expenses	$2,485,403	$2,820,388	-0.1%
Net Income	$-403,108	$-425,499	-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

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

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

$110,372

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RACHEL JORDAN	CHAIR (THRU 8/24)	1.00	Officer Director	$0	$0	$0
ANDREW SCHULERT	CHAIR (AS OF 8/24)	1.00	Officer Director	$0	$0	$0
ZENA LUM	CO-CHAIR (THRU 8/24)	1.00	Officer Director	$0	$0	$0
RODNEY ALEJANDRO	DIRECTOR	1.00	Director	$0	$0	$0
DAVID ALEXANDER	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT CHOW	DIRECTOR	1.00	Director	$0	$0	$0
TESSIL COLLINS	DIRECTOR	1.00	Director	$0	$0	$0
JOHN ESCOBAR	DIRECTOR	1.00	Director	$0	$0	$0
ROB EUGENE	DIRECTOR	1.00	Director	$0	$0	$0
MATTHEW LINDLEY	DIRECTOR (THRU 2/25)	1.00	Director	$0	$0	$0
NADINA TALUKDAR	DIRECTOR	1.00	Director	$0	$0	$0
ANDY YOUNISS	DIRECTOR	1.00	Director	$0	$0	$0
BOBBY BOYD	EXECUTIVE DIRECTOR	39.00	Officer	$110,000	$372	$110,372
MATTHEW S MCARTHUR	FORMER EXECUTIVE DIRECTOR	0.00		$110,923	$2,352	$113,275

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	$2,082,295	$2,485,403	$11,607,463	$-403,108
2024	$2,394,889	$2,820,388	$12,379,553	$-425,499
2023	$1,496,044	$2,500,511	$12,516,063	$-1,004,467
2022	$3,016,827	$1,415,243	$4,702,534	$1,601,584
2021	$2,710,315	$1,839,960	$3,786,300	$870,355
2020	$1,898,976	$697,367	$4,243,354	$1,201,609
2019	$1,109,761	$562,088	$967,251	$547,673
2018	$459,311	$435,016	$232,546	$24,295