Hoover Instrumental Music Association (EIN 346559002) - 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

2007

Legal Domicile

Principal Officer

Kevin Long

Phone

3304975620

Tax Period

2024-07-01 to 2025-06-30

Hoover Instrumental Music Association, founded in 2007, is a small nonprofit in the Education sector that reported $182K in total revenue in fiscal year 2024.

Mission

Support of North Canton Hoover High School Instrumental Music Students

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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 $3,783

Program Service Revenue $111,865

Investment Income $9,263

Other Revenue $57,334

TOTAL REVENUE $182,245

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $190,527

Other Expenses $193,212

TOTAL EXPENSES $193,212

Year-over-Year Comparison

	2024	2023	Change
Revenue	$182,245	$176,869	+0.0%
Expenses	$193,212	$191,762	+0.0%
Net Income	$-10,967	$-14,893	-0.3%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Diana Rankin	President	5.00	Officer	$0	$0	$0
Bruno Chirumbolo	Vice President	5.00	Officer	$0	$0	$0
Tamie Eynon	Vice President	5.00	Officer	$0	$0	$0
Lisa Rambaud	Vice President	5.00	Officer	$0	$0	$0
Allison Dennison	Secretary	5.00	Officer	$0	$0	$0
Kevin Long	Treasurer	5.00	Officer	$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	$182,245	$193,212	$214,615	$-10,967
2024	$176,869	$191,762	$209,021	$-14,893
2023	$160,478	$183,154	$177,770	$-22,676
2022	$214,860	$238,418	$191,304	$-23,558

Hoover Instrumental Music Association