THE CLEVELAND MUSIC SCHOOL SETTLEMENT (EIN 340714339) - 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

1912

Legal Domicile

Principal Officer

STEVEN F KREGER

Phone

2164215806

Tax Period

2023-07-01 to 2024-06-30

THE CLEVELAND MUSIC SCHOOL SETTLEMENT, founded in 1912, is a community nonprofit in the Arts, Culture & Humanities sector that reported $5.3M in total revenue in fiscal year 2023. Expenses of $8.5M exceeded revenue, resulting in a 60% operating deficit.

Mission

THE VISION OF THE MUSIC SETTLEMENT IS TO UNLOCK THE POTENTIAL IN EVERYONE.

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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 $1,772,256

Program Service Revenue $2,901,596

Investment Income $35,678

Other Revenue $594,744

TOTAL REVENUE $5,304,274

Expense Breakdown

Grants Paid $2,869,582

Salaries & Benefits $3,695,437

Fundraising Expenses $520,886

Program Expenses $7,085,638

Other Expenses $1,932,025

TOTAL EXPENSES $8,497,044

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,304,274	$5,512,985	0.0%
Expenses	$8,497,044	$5,627,613	+0.5%
Net Income	$-3,192,770	$-114,628	+26.9%

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

162

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

$361,115

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LYNN ECKENDORF	1ST VICE CHAIR	2.00	Officer Director	$0	$0	$0
DARYL DECKARD	2ND VICE CHAIR	2.00	Officer Director	$0	$0	$0
CHRISTOPHER BRANDT MD	CHAIR	2.00	Officer Director	$0	$0	$0
JASON PADLEY	TREASURER	2.00	Officer Director	$0	$0	$0
STEPHEN MILLER	SECRETARY	2.00	Officer Director	$0	$0	$0
GERARD DAHER	DIRECTOR	2.00	Director	$0	$0	$0
DANIEL FILIPPI	DIRECTOR	2.00	Director	$0	$0	$0
GREG LOPEZ	DIRECTOR	2.00	Director	$0	$0	$0
KITTIE WARSHAWSKY	DIRECTOR	2.00	Director	$0	$0	$0
OBED SHELTON	DIRECTOR	2.00	Director	$0	$0	$0
DAWN WAYT	DIRECTOR	2.00	Director	$0	$0	$0
DEBORAH WILCOX	DIRECTOR	2.00	Director	$0	$0	$0
ELISABETH STAHL	DIRECTOR	2.00	Director	$0	$0	$0
ELLA LEE DAVIS	DIRECTOR	2.00	Director	$0	$0	$0
MAURA HUGHES	DIRECTOR	2.00	Director	$0	$0	$0
BEN PAGE	DIRECTOR	2.00	Director	$0	$0	$0
CRAIG BROWN	DIRECTOR	2.00	Director	$0	$0	$0
DENNIS SCHWARTZ	DIRECTOR	2.00	Director	$0	$0	$0
HOWARD BERUSCH	DIRECTOR	2.00	Director	$0	$0	$0
JOHN GIBBON	DIRECTOR	2.00	Director	$0	$0	$0
JOHN WALDECK JR	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL CANTOR	DIRECTOR	2.00	Director	$0	$0	$0
PETER SNAVELY JR	DIRECTOR	2.00	Director	$0	$0	$0
RENE POLIN	DIRECTOR	2.00	Director	$0	$0	$0
RITA JAESSING BRAUNECK	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT CONRAD	DIRECTOR	2.00	Director	$0	$0	$0
STEVEN MUIR	DIRECTOR	2.00	Director	$0	$0	$0
TAMAR GRAY	DIRECTOR	2.00	Director	$0	$0	$0
THOMAS HOLMES	DIRECTOR	2.00	Director	$0	$0	$0
MENG LIU	DIRECTOR	2.00	Director	$0	$0	$0
STEPHEN SHEMO	DIRECTOR	2.00	Director	$0	$0	$0
KEN HORNER	DIRECTOR	2.00	Director	$0	$0	$0
GERALYN M PRESTI	PRESIDENT & CEO	40.00	Officer	$191,000	$0	$191,000
STEVEN F KREGER	VP-FINANCE & ADMINISTRATION	40.00	Officer	$95,320	$0	$95,320
EMILY COLE	VP-ADVANCEMENT	40.00	Officer	$0	$0	$0
CAITIE MILCINOVIC	VP-ADVANCEMENT	40.00	Officer	$74,795	$0	$74,795

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	No data	No data	No data	No data
2024	$5,304,274	$8,497,044	$22,041,950	$-3,192,770
2023	$5,512,985	$5,627,613	$23,757,884	$-114,628
2022	$6,172,839	$4,984,736	$23,162,612	$1,188,103
2021	$4,711,711	$4,414,841	$23,962,029	$296,870
2020	$7,260,597	$5,091,286	$22,228,050	$2,169,311
2019	$5,519,288	$5,193,745	$21,232,666	$325,543
2018	$5,304,646	$4,620,749	$21,348,740	$683,897

THE CLEVELAND MUSIC SCHOOL SETTLEMENT