INDIANA STATE SCHOOL MUSIC ASSOC

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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

2000

Legal Domicile

Principal Officer

Michael Bridgewater

Tax Period

2023-07-01 to 2024-06-30

INDIANA STATE SCHOOL MUSIC ASSOC, founded in 2000, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.4M in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum.

Mission

See statement attached.

Program Service Accomplishments

Program 1

Expenses: $2,184,813

The taxpayer conducts music events and provides other learning opportunities for students resident in the state of Indiana. The taxpayer serves every high school, middle school and junior high school located in the state, and several thousand students. Most Indiana secondary, middle and junior high schools utilize the taxpayers services and events as an integral part of their curriculum.

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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 $263,026

Program Service Revenue $2,058,756

Investment Income $51,196

Other Revenue $58,672

TOTAL REVENUE $2,431,650

Expense Breakdown

Grants Paid $0

Salaries & Benefits $626,808

Fundraising Expenses $0

Program Expenses $2,184,813

Other Expenses $1,840,623

TOTAL EXPENSES $2,467,431

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,431,650	$1,904,376	+0.3%
Expenses	$2,467,431	$2,059,961	+0.2%
Net Income	$-35,781	$-155,585	-0.8%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michael Dean	Director	0.00	Director	$0	$0	$0
Michael Akers	Director	0.00	Director	$0	$0	$0
Chris Wing	Director	0.00	Director	$0	$0	$0
Jon Carney	Director	0.00	Director	$0	$0	$0
Chuck Reynolds	Director	0.00	Director	$0	$0	$0
Paula Simmons	Director	0.00	Director	$0	$0	$0
Karl Hartman	Director	0.00	Director	$0	$0	$0
Kathryn Briel	Director	0.00	Director	$0	$0	$0
Jack Parker	Director	0.00	Director	$0	$0	$0
Curis Turner	Director	0.00	Director	$0	$0	$0
Joey Shepherd	Director	0.00	Director	$0	$0	$0
Jeff Cox	Director	0.00	Director	$0	$0	$0
Angela Hampton	Director	0.00	Director	$0	$0	$0
Noah Farmer	Director	0.00	Director	$0	$0	$0
John Miller	Director	0.00	Director	$0	$0	$0
Andrea Drury	Director	0.00	Director	$0	$0	$0
Ethan Wilkinson	Director	0.00	Director	$0	$0	$0
Edward Beck	Director	0.00	Director	$0	$0	$0
Bryan Warfield	Director	0.00	Director	$0	$0	$0
Tom Cox	Director	0.00	Director	$0	$0	$0
Jordan Dollins	Director	0.00	Director	$0	$0	$0
Kevin Lewis	Director	0.00	Director	$0	$0	$0
Nicholas Boersma	Director	0.00	Director	$0	$0	$0
Kevin Fogle	Director	0.00	Director	$0	$0	$0
John Pinson	Director	0.00	Director	$0	$0	$0
Chris Taylor	Director	0.00	Director	$0	$0	$0
Nicole DeGuire	Director	0.00	Director	$0	$0	$0
Janel Baker	Director	0.00	Director	$0	$0	$0
Jeremy Snyder	Director	0.00	Director	$0	$0	$0
Bryan Ames	Director	0.00	Director	$0	$0	$0
Glenn Northern	President	0.00	Officer Director	$0	$0	$0
Peter Samson	Vice President	0.00	Officer Director	$0	$0	$0
Michael Pote	Past President	0.00	Officer Director	$0	$0	$0
Michael Bridgewater	Executive Director	60.00	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	No data	No data	No data	No data
2024	$2,431,650	$2,467,431	$1,777,109	$-35,781
2023	$1,904,376	$2,059,961	$1,769,775	$-155,585
2022	$2,914,497	$2,122,916	$1,923,240	$791,581
2020	$1,752,438	$1,781,228	$1,429,378	$-28,790
2019	$2,213,383	$2,227,900	$1,513,146	$-14,517