FOUNDATIONS OF MUSIC (EIN 363683597) - 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

1988

Legal Domicile

Principal Officer

LAURIE MILLER

Phone

7732819454

Tax Period

2018-07-01 to 2019-06-30

FOUNDATIONS OF MUSIC, founded in 1988, is a small nonprofit that reported $259K in total revenue in fiscal year 2018. Revenue decreased 19% compared to the prior year. Expenses of $286K exceeded revenue, resulting in a 10% operating deficit.

Mission

TO PROVIDE MUSIC EDUCATION TO UNDERSERVED CHICAGO PUBLIC SCHOOL STUDENTS, SPARKING CREATIVITY AND PASSION, TEACHING CRITICAL THINKING, SUPPORTING ACADEMIC ACHIEVEMENT, AND ENRICHING YOUNG LIVES. FOUNDATIONS OF MUSIC PROVIDES FREE YEAR-ROUND MUSIC EDUCATION, POSITIVELY IMPACTING AND CELEBRATING YOUNG LIVES BY OFFERING ACCESS TO SAFE AND CONSTRUCTIVE LEARNING EXPERIENCES THROUGH WHICH CHILDREN MAY CHALLENGE THEMSELVES, BUILD SELF-ESTEEM AND EXPLORE THEIR OWN CREATIVE POTENTIAL.

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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 (2018)

Revenue Breakdown

Contributions & Grants $187,936

Program Service Revenue $0

Investment Income $7

Other Revenue $71,315

TOTAL REVENUE $259,258

Expense Breakdown

Grants Paid $0

Salaries & Benefits $206,796

Fundraising Expenses $46,682

Program Expenses $156,121

Other Expenses $79,139

TOTAL EXPENSES $285,935

Year-over-Year Comparison

	2018	2017	Change
Revenue	$259,258	$321,113	-0.2%
Expenses	$285,935	$398,303	-0.3%
Net Income	$-26,677	$-77,190	-0.7%

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

N/A

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
LAURIE MILLER	PRESIDENT	2.00	Officer Director	$0	$0	$0
KRISTEN CONRY	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
ABRAHAM LEVITAN	TREASURER	2.00	Officer Director	$0	$0	$0
KIMBERLY STIFFLE	SECRETARY	2.00	Officer Director	$0	$0	$0
DOMINIQUE BATTLE	DIRECTOR	1.00	Director	$0	$0	$0
LINDA BERNA	DIRECTOR	1.00	Director	$0	$0	$0
JEFFREY EBERHARD	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT GOMEZ	DIRECTOR	1.00	Director	$0	$0	$0
NIKKI HARTEL	DIRECTOR	1.00	Director	$0	$0	$0
STEVE STEINMEYER	DIRECTOR	1.00	Director	$0	$0	$0
JASON WRIGHT	DIRECTOR	1.00	Director	$0	$0	$0
BREANDA FINEBERG	EXECUTIVE DIRECTOR	40.00	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
2019	$259,258	$285,935	$103,560	$-26,677
2018	$321,113	$398,303	$119,953	$-77,190

FOUNDATIONS OF MUSIC