MUSIC AND EVENT MANAGEMENT INC (EIN 311378179) - 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

1993

Legal Domicile

Principal Officer

RICHARD FRESHWATER

Phone

5137443306

Tax Period

2023-09-01 to 2024-08-31

MUSIC AND EVENT MANAGEMENT INC, founded in 1993, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $76.7M in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion.

Mission

MUSIC AND EVENT MANAGEMENT, INC. (MEMI), A RELATED TAX-EXEMPT ORGANIZATION OF THE CINCINNATI SYMPHONY ORCHESTRA (CSO), MANAGES AND OFFERS A DIVERSE ARRAY OF QUALITY PERFORMANCES AT RIVERBEND MUSIC CENTER, THE PNC PAVILION, AND THE TAFT THEATRE, AND ADDITIONALLY OFFERS PREFERRED SERVICES TO OTHER NON-PROFIT ORGANIZATIONS FOR FESTIVALS AND COMMUNITY EVENTS. MEMI SUPPORTS THE CSO'S MISSION TO ENHANCE THE CULTURAL VITALITY AND QUALITY OF LIFE IN THE GREATER CINCINNATI REGION.

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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 $2,433,145

Program Service Revenue $55,770,054

Investment Income $1,155,468

Other Revenue $17,366,202

TOTAL REVENUE $76,724,869

Expense Breakdown

Grants Paid $9,056,167

Salaries & Benefits $13,025,249

Fundraising Expenses $0

Program Expenses $64,978,434

Other Expenses $54,858,058

TOTAL EXPENSES $76,939,474

Year-over-Year Comparison

	2023	2022	Change
Revenue	$76,724,869	$66,942,293	+0.1%
Expenses	$76,939,474	$67,078,061	+0.1%
Net Income	$-214,605	$-135,768	+0.6%

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

1186

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

$1,535,807

Total Directors

$1,535,807

Key Employees

$992,244

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL SMITH	CHIEF EXECUTIVE OFFICER	45.00	Officer Director	$442,743	$57,344	$500,087
JONATHAN MARTIN	PRESIDENT	5.00	Officer Director	$72,272	$33,295	$624,602
RICHARD FRESHWATER	CHIEF FINANCIAL OFFICER	15.00	Officer Director	$85,692	$38,488	$411,118
DIANNE ROSENBERG	CHAIR	1.00	Officer Director	$0	$0	$0
SUE MCPARTLIN	SECRETARY & TREASURER	1.00	Officer Director	$0	$0	$0
EDWARD MORRELL	CHIEF BUSINESS OFFICER	40.00	Key Emp	$474,762	$50,231	$524,993
MATHEW DUNNE	CHIEF OPERATING OFFICER	40.00	Key Emp	$420,289	$46,962	$467,251
ROSEMARIE MOEHRING	DIRECTOR OF MARKETING	40.00	Highest	$282,277	$28,997	$311,274
RYAN JASPERS	OPERATIONS AND PRODUCTION MANAGER	40.00	Highest	$277,302	$38,143	$315,445
MICHELE FERRARA	DIRECTOR OF SPONSORSHIP SALES	40.00	Highest	$248,806	$20,085	$268,891
JENNIFER SCHOONOVER	DIRECTOR OF PREMIUM SEAT SALES	40.00	Highest	$229,721	$25,991	$255,712
KELLY GOULD-BENHASE	DIRECTOR OF TICKETING	40.00	Highest	$201,659	$21,791	$223,450

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	$76,724,869	$76,939,474	$36,986,907	$-214,605
2023	$66,942,293	$67,078,061	$35,354,818	$-135,768
2022	$73,072,797	$73,177,140	$33,809,112	$-104,343
2021	$26,218,781	$18,560,662	$42,450,735	$7,658,119
2020	$11,882,512	$20,008,108	$17,118,369	$-8,125,596
2019	$44,483,791	$39,639,878	$26,684,197	$4,843,913
2018	$42,483,392	$39,521,193	$19,950,682	$2,962,199

MUSIC AND EVENT MANAGEMENT INC