THE MUSIC ROOM 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

1986

Legal Domicile

Principal Officer

SHARON WESTENHOFER

Phone

7149152470

Tax Period

2023-04-01 to 2024-03-31

THE MUSIC ROOM INC, founded in 1986, is a small nonprofit that reported $645K in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

TO ORGANIZE AND PRODUCE DANCE AND MUSIC RECITALS FOR APPROXIMATELY 250 STUDENTS. STUDENTS BENEFIT FROM THESE SERVICE BY BOTAINING AN IN-DEPTH UNDERSTANDING, APPRECIATION AND KNOWLEDGE OF MUSIC, DANCE AND ART.

Program Service Accomplishments

Program 1

Expenses: $488,273

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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 $30,225

Program Service Revenue $596,341

Investment Income $16

Other Revenue $18,322

TOTAL REVENUE $644,904

Expense Breakdown

Grants Paid $0

Salaries & Benefits $181,074

Fundraising Expenses $43

Program Expenses $488,273

Other Expenses $469,951

TOTAL EXPENSES $651,068

Year-over-Year Comparison

	2023	2022	Change
Revenue	$644,904	$596,790	+0.1%
Expenses	$651,068	$542,572	+0.2%
Net Income	$-6,164	$54,218	-1.1%

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

N/A

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

$42,800

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHARON WESTENHOFER	President & CEO	60.00	Officer	$42,800	$0	$42,800
PETER WESTENHOFFER	Secretary	2.00	Officer Director	$0	$0	$0
PENNY KIM	CFO	2.00	Officer Director	$0	$0	$0
GINA GIDDEN	Vice President	0.00	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	$644,904	$651,068	$319,336	$-6,164
2024	$268,260	$273,184	$309,700	$-4,924
2023	$596,790	$542,572	$297,472	$54,218
2022	$550,958	$508,210	$245,637	$42,748
2021	$331,203	$388,980	$272,766	$-57,777