Chicago, IL
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)MERIT SCHOOL OF MUSIC, founded in 1979, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $13.8M in total revenue in fiscal year 2024. Revenue decreased 13% compared to the prior year. The organization ran a surplus of $4.1M, a strong 29% operating margin.
Merit School of Music is dedicated to helping young people transform their lives by removing barriers to high-quality music education, with the majority of students benefitting from need-based financial aid, scholarship support, or low-cost instrument rental. Merit enables motivated students, regardless of economic circumstance, to develop their talent and to use music as a springboard for achieving their full personal potential, with 100% of Merit graduates going on to college. The community music school's programming continuum consists of five major areas: Early Childhood, Instrumental & Vocal Music Program(Group classes), Private Lessons, Merit Music in Communities, and the Alice S. Pfaelzer Conservatory.
The Merit Music in Communities (MMiC) program was founded in response to a request from Chicago Public Schools to create an in-school music education program. MMiC provides provides high-quality...
The Merit Music in Communities (MMiC) program was founded in response to a request from Chicago Public Schools to create an in-school music education program. MMiC provides provides high-quality music education to students at dozens of schools throughout the city through group instruction in strings, band, choir, piano, guitar, early childhood, and general music. In addition to leading year-long courses, Merit faculty also participate in multi-week general music residencies where they collaborate with students and CPS teachers to creatively enhance reading, language, and critical thinking skills through music.
Merit School of Music has a robust private lesson program for jazz and classical students of all ages and levels of musical ability. Over 900 students take private lessons at Merit, working...
Merit School of Music has a robust private lesson program for jazz and classical students of all ages and levels of musical ability. Over 900 students take private lessons at Merit, working one-on-one with celebrated music faculty to explore individual talents and interests, develop skills and technique, and overcome challenges. Most all of students enrolled in private lessons at Merit receive financial aid.
Merit's Instrumental & Vocal Music program provides beginning and intermediate K-9 musicians with small group after-school programming for string, band, piano, guitar, and voice. As students move...
Merit's Instrumental & Vocal Music program provides beginning and intermediate K-9 musicians with small group after-school programming for string, band, piano, guitar, and voice. As students move through the program's sequential curriculum by achieving set goals, the program becomes deeper and more rigorous, preparing students for entry into Merit's prestigious Alice S. Pfaelzer Conservatory.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $13,849,358 | $15,958,128 | -0.1% |
| Expenses | $9,778,204 | $9,170,963 | +0.1% |
| Net Income | $4,071,154 | $6,787,165 | -0.4% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| Charles Grode | President and Executive Director | 37.5 |
Officer
|
$194,006 | $6,687 | $200,693 |
| Meredith Barber | Vice President for Development & Marketing | 37.5 |
Officer
|
$133,546 | $4,698 | $138,244 |
| Kurtis C Gildow | Vice President for Programming | 37.5 |
Officer
|
$119,556 | $3,919 | $123,475 |
| Amy Johnson | Vice President for Finance & Administration | 37.5 |
Officer
|
$106,527 | $3,919 | $110,446 |
| Julie Green Baumeister | Board Chair | 3 |
Director
|
$0 | $0 | $0 |
| Thomas Linguanti | Vice Chair | 3 |
Director
|
$0 | $0 | $0 |
| Jennifer Montague | Vice Chair | 2 |
Director
|
$0 | $0 | $0 |
| Michael Andrews | Treasurer | 2 |
Director
|
$0 | $0 | $0 |
| Marisela Rosales Lawson | Secretary | 2 |
Director
|
$0 | $0 | $0 |
| Kamila Muhammed | Associate Board Representative | 2 |
Director
|
$0 | $0 | $0 |
| Charles K Huebner | Immediate Past Board Chair | 2 |
Director
|
$0 | $0 | $0 |
| JeNyce Boolton | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Ryan DeVore | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Jeffrey Breslow | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Binta Brown | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Carol Clavadetscher | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Matt Gruseck | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Dr Derrick Gay | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Cynthia Mufarreh | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Joe Musselman | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Nishad Parmar | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Micheal Powers | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Abiman Rajadurai | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| David Schulz | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Susie Sultan | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| David P Thomas | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Dr Jennifer Turner | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Jennifer Vianello | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| John F Young | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Cathy Wloch | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Dr Huan J Chang | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Sandy Rusnak | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | $13,849,358 | $9,778,204 | $46,948,653 | $4,071,154 |
| 2024 | $15,958,128 | $9,170,963 | $42,968,720 | $6,787,165 |
| 2023 | $11,718,289 | $8,391,535 | $35,999,488 | $3,326,754 |
| 2022 | $6,571,408 | $8,085,007 | $32,406,157 | $-1,513,599 |
| 2021 | $10,166,594 | $7,114,338 | $34,329,132 | $3,052,256 |
| 2020 | $871,543 | $1,002,234 | $31,237,141 | $-130,691 |
| 2019 | $11,667,837 | $6,833,803 | $28,772,667 | $4,834,034 |
| 2018 | $6,683,559 | $6,980,226 | $23,995,336 | $-296,667 |
Compare MERIT SCHOOL OF MUSIC with other nonprofits in Illinois and across the country.