CITADEL DANCE AND MUSIC CENTER INC

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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

2003

Legal Domicile

Principal Officer

CHRIS KWON

Phone

2699251099

Tax Period

2024-09-01 to 2025-08-31

CITADEL DANCE AND MUSIC CENTER INC, founded in 2003, is a small nonprofit in the Arts, Culture & Humanities sector that reported $682K in total revenue in fiscal year 2024. Revenue surged 21% from the prior year, signaling strong growth momentum. The organization ran a surplus of $110K, a strong 16% operating margin.

Mission

TO INSPIRE A SENSE OF EXCITEMENT AND CURIOUSITY THROUGH THE DISCIPLINES OF DANCE AND MUSIC AS ART FORMS AND A WAY OF LIFE.

Program Service Accomplishments

Program 1

Expenses: $514,195 Revenue: $457,071

DANCE & MUSIC PROGRAMMING - YEAR-ROUND COMPREHENSIVE DANCE AND MUSIC CLASSES, LESSONS AND KINDERMUSIK FOR ALL AGES TAUGHT BY PROFESSIONAL, EXPERIENCED INSTRUCTORS. MUSICAL THEATER - 2ND YEAR OF...

DANCE & MUSIC PROGRAMMING - YEAR-ROUND COMPREHENSIVE DANCE AND MUSIC CLASSES, LESSONS AND KINDERMUSIK FOR ALL AGES TAUGHT BY PROFESSIONAL, EXPERIENCED INSTRUCTORS. MUSICAL THEATER - 2ND YEAR OF MUSCIAL THEATER CLASSES AND PERFORMANCES. TWO MUSICALS PERFORMED SUMMER OF 2025. OUTREACH - INSTRUMENT PETTING ZOOS, KINDERMUSIK DEMONSTRATIONS, COLLABERATIONS WITH HOME SCHOOL PARTNERSHIPS AND A LOCAL MONTESSORI SCHOOL. ADDITIONAL PARTNERSHIPS WITH THE SOUTHWEST MICHIGAN SYMPHONY ORCHESTRA AND QUINLAN & FABISH MUSIC COMPANY.

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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 $222,386

Program Service Revenue $457,071

Investment Income $2,546

Other Revenue $0

TOTAL REVENUE $682,003

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $4,637

Program Expenses $514,195

Other Expenses $572,275

TOTAL EXPENSES $572,275

Year-over-Year Comparison

	2024	2023	Change
Revenue	$682,003	$563,114	+0.2%
Expenses	$572,275	$480,515	+0.2%
Net Income	$109,728	$82,599	+0.3%

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

N/A

Volunteers

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
CHRIS KWON	PRESIDENT	2.00	Officer Director	$0	$0	$0
TIM WALLS	DIRECTOR	2.00	Director	$0	$0	$0
BRENNAN HAASE	VICE PRESIDE	2.00	Director	$0	$0	$0
SARA JOHNSON	SECRETARY	2.00	Officer Director	$0	$0	$0
DEBRA KENYON	DIRECTOR	2.00	Director	$0	$0	$0
SCOTT GASPARI	DIRECTOR	2.00	Director	$0	$0	$0
LORI TODD	DIRECTOR	2.00	Director	$0	$0	$0
JAMIE BALKIN	DIRECTOR	2.00	Director	$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	$682,003	$572,275	$612,068	$109,728
2024	$563,114	$480,515	$181,781	$82,599
2023	$465,884	$444,541	$101,427	$21,343
2022	$396,760	$405,264	$80,115	$-8,504
2021	$376,463	$389,308	$88,706	$-12,845
2020	$431,087	$424,451	$111,023	$6,636
2019	$467,617	$468,174	$51,219	$-557