OLD TOWN SCHOOL OF FOLK MUSIC (EIN 362373635) - 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

1960

Legal Domicile

Principal Officer

KATE TOMFORD

Phone

7737286000

Tax Period

2024-01-01 to 2024-12-31

OLD TOWN SCHOOL OF FOLK MUSIC, founded in 1960, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $14.0M in total revenue in fiscal year 2024.

Mission

TEACHES AND CELEBRATES MUSIC AND CULTURAL EXPRESSIONS ROOTED IN THE TRADITIONS OF DIVERSE AMERICAN AND GLOBAL COMMUNITIES.

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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 $3,509,588

Program Service Revenue $9,476,506

Investment Income $338,325

Other Revenue $643,180

TOTAL REVENUE $13,967,599

Expense Breakdown

Grants Paid $187,438

Salaries & Benefits $9,382,270

Fundraising Expenses $1,061,613

Program Expenses $11,354,442

Other Expenses $5,475,582

TOTAL EXPENSES $15,045,290

Year-over-Year Comparison

	2024	2023	Change
Revenue	$13,967,599	$14,028,278	0.0%
Expenses	$15,045,290	$14,030,232	+0.1%
Net Income	$-1,077,691	$-1,954	+550.5%

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

391

Volunteers

350

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

$723,274

Total Directors

Key Employees

$271,328

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATE TOMFORD	CHAIRMAN	4.00	Officer Director	$0	$0	$0
ROBERT D OSPALIK	VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
MICHAEL WARNER	SECRETARY	2.00	Officer Director	$0	$0	$0
KENNETH KAUFMAN	TREASURER	2.00	Officer Director	$0	$0	$0
MARY BETH BERKOFF	DIRECTOR	1.00	Director	$0	$0	$0
ERNEST DAWKINS	DIRECTOR	1.00	Director	$0	$0	$0
LOUISE FRANK	DIRECTOR	1.00	Director	$0	$0	$0
TIM HUNTER	DIRECTOR	1.00	Director	$0	$0	$0
JEFF JUDGE	DIRECTOR	1.00	Director	$0	$0	$0
GERALDINE KEEFE	DIRECTOR	1.00	Director	$0	$0	$0
MARTINA KELLER	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN KESSELL	DIRECTOR	1.00	Director	$0	$0	$0
KISH KHEMANI	DIRECTOR	1.00	Director	$0	$0	$0
RANA KOMAR	DIRECTOR	1.00	Director	$0	$0	$0
YOLANDA LAWLER	DIRECTOR (BEG. 7/2024)	1.00	Director	$0	$0	$0
DAVID LENTZ	DIRECTOR	1.00	Director	$0	$0	$0
KIM MORAN	DIRECTOR	1.00	Director	$0	$0	$0
ERIC NORDNESS	DIRECTOR	1.00	Director	$0	$0	$0
ANNE PHILLIPS	DIRECTOR	1.00	Director	$0	$0	$0
OLIVER G PRINCE JR	DIRECTOR	1.00	Director	$0	$0	$0
BRYAN PROCTOR	DIRECTOR (THRU 6/2024)	1.00	Director	$0	$0	$0
MIKE PRUSSIAN	DIRECTOR	1.00	Director	$0	$0	$0
DOUGLAS P REGAN	DIRECTOR (THRU 6/2024)	1.00	Director	$0	$0	$0
CANDICE ROSEVEAR	DIRECTOR	1.00	Director	$0	$0	$0
LORI SEAMAN	DIRECTOR	1.00	Director	$0	$0	$0
ELIZABETH BETSY M SOLARO	DIRECTOR (THRU 6/2024)	1.00	Director	$0	$0	$0
JAMES NEWCOMB	CEO (THRU 9/2024)	40.00	Officer	$252,580	$57,207	$309,787
WELZ KAUFFMAN	CEO (10/2024-11/2024)	40.00	Officer	$101,020	$1,137	$102,157
TROY ANDERSON	DIR. OF ED. (THRU 10/2024), CEO	40.00	Officer	$182,194	$414	$182,608
GAIL PRETE	CFO	40.00	Officer	$118,512	$10,210	$128,722
MARY JANE DREWS	DIR. OF INSTITUTIONAL ADVA	40.00	Key Emp	$252,981	$18,347	$271,328
TROY HANSBROUGH	SR DIRECTOR OF PROGRAMMING	40.00	Highest	$135,110	$19,569	$154,679

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	$13,967,599	$15,045,290	$26,666,761	$-1,077,691
2023	$14,028,278	$14,030,232	$26,984,307	$-1,954
2022	$14,379,785	$12,123,604	$26,848,548	$2,256,181
2021	$13,585,929	$10,254,391	$26,291,664	$3,331,538
2020	$10,641,260	$9,504,125	$22,895,606	$1,137,135
2019	$12,079,577	$12,359,210	$21,198,007	$-279,633
2018	$12,486,697	$12,961,593	$21,441,866	$-474,896

OLD TOWN SCHOOL OF FOLK MUSIC