VANDERCOOK COLLEGE OF MUSIC

EIN: 362539399 501(c)(3)

CHICAGO, IL

Total Revenue
$5,652,225
Total Expenses
$6,307,678
Total Assets
$8,999,993
Net Assets
$6,746,171
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1909
Legal Domicile
IL
Principal Officer
DR KIMBERLY FARRIS
Phone
3122256288
Tax Period
2024-08-01 to 2025-07-31

VANDERCOOK COLLEGE OF MUSIC, founded in 1909, is a community nonprofit that reported $5.7M in total revenue in fiscal year 2024. Expenses of $6.3M exceeded revenue, resulting in a 12% operating deficit.

Mission

TO ENRICH THE LIVES OF PRESENT AND FUTURE GENERATIONS THROUGH THE PREPARATION OF TEACHERS IN INSTRUMENTAL, CHORAL, AND GENERAL MUSIC DISCIPLINES. THE CURRICULUM PREPARES TEACHERS WITH STRONG CHARACTER, TEACHING SKILL, AND RESPECT FOR THE IMPORTANCE OF MUSIC.

Program Service Accomplishments

Program 1
Expenses: $4,687,214 Revenue: $3,738,117

TO PROMOTE PASSIONATE, LIFE-LONG TEACHING, LEARNING, AND PLAYING OF MUSIC. VANDERCOOK GRADUATES SHARE THEIR TALENTS WITH CHILDREN OF ALL AGES IN CHICAGO AND THROUGHOUT THE WORLD.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,566,120
Program Service Revenue $3,641,671
Investment Income $283,233
Other Revenue $161,201
TOTAL REVENUE $5,652,225

Expense Breakdown

Grants Paid $1,067,429
Salaries & Benefits $3,183,801
Fundraising Expenses $129,228
Program Expenses $4,687,214
Other Expenses $2,053,135
TOTAL EXPENSES $6,307,678

Year-over-Year Comparison

2024 2023 Change
Revenue $5,652,225 $5,666,910 0.0%
Expenses $6,307,678 $5,715,929 +0.1%
Net Income $-655,453 $-49,019 +12.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
24
Independent Members
24
Employees
147
Volunteers
69

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
4
$126,192
Total Directors
24
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GEORGE QUINLAN JR IMMEDIATE PAST CHAIR 1.00
Officer Director
$0 $0 $0
HERALD JOHNSON CHAIRMAN 1.00
Officer Director
$0 $0 $0
JOHN HUSTON BOARD MEMBER 1.00
Director
$0 $0 $0
LOREN CHERNOFF BOARD MEMBER 1.00
Director
$0 $0 $0
HERMENE HARTMAN BOARD MEMBER 1.00
Director
$0 $0 $0
SAUL FRIEDGOOD BOARD MEMBER UNTIL 6/25 1.00
Director
$0 $0 $0
JON HARRIS BOARD MEMBER 1.00
Director
$0 $0 $0
STEVE BECK BOARD MEMBER UNTIL 4/25 1.00
Director
$0 $0 $0
DAVID MANN BOARD MEMBER UNTIL 2/25 1.00
Director
$0 $0 $0
CHRISTOPHER MOTOGAWA BOARD MEMBER 1.00
Director
$0 $0 $0
CHRIS VANDERWALL BOARD MEMBER 1.00
Director
$0 $0 $0
SOHYOON ATAC SECRETARY 1.00
Officer Director
$0 $0 $0
LIZ DUNNE BOARD MEMBER 1.00
Director
$0 $0 $0
ANDREW COLLINS BOARD MEMBER 1.00
Director
$0 $0 $0
PAUL LAVENDER BOARD MEMBER 1.00
Director
$0 $0 $0
ADRIENNE THOMPSON BOARD MEMBER 1.00
Director
$0 $0 $0
SCOTT CASAGRANDE BOARD MEMBER 1.00
Director
$0 $0 $0
MARK HECKLER BOARD MEMBER 1.00
Director
$0 $0 $0
LINDA POWELL BOARD MEMBER 1.00
Director
$0 $0 $0
STANLEY DIETZEL BOARD MEMBER 1.00
Director
$0 $0 $0
LAUREN ERICKSON ALUMNI ASSN REP UNTIL 12/24 1.00
Director
$0 $0 $0
ANNE VINER BOARD MEMBER 1.00
Director
$0 $0 $0
YL DOUGLAS BOARD MEMBER 1.00
Director
$0 $0 $0
MICHAEL LEONAS-CABRERA BOARD MEMBER 1.00
Director
$0 $0 $0
KIM FARRIS PRESIDENT 40.00
Officer
$126,192 $0 $126,192
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 $5,652,225 $6,307,678 $8,999,993 $-655,453
2024 No data No data No data No data
2023 $5,134,611 $6,152,579 $12,828,103 $-1,017,968
2022 $6,354,157 $6,484,466 $10,499,413 $-130,309
2021 $8,150,661 $5,462,880 $10,888,498 $2,687,781
2020 $5,648,473 $5,103,885 $7,867,890 $544,588
2019 $5,776,581 $5,283,671 $7,082,528 $492,910
2018 $5,889,294 $5,505,098 $6,697,179 $384,196
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