DETROIT FEDERATION OF MUSICIANS LO… - Form 990 Financial Data

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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

1932

Legal Domicile

Principal Officer

GEORGE TROIA JR

Phone

2485695400

Tax Period

2024-04-01 to 2025-03-31

DETROIT FEDERATION OF MUSICIANS LOCAL 5, founded in 1932, is a small nonprofit that reported $494K in total revenue in fiscal year 2024.

Mission

LABOR UNION - TO UNITE THE MUSICIANS OF DETROIT AND VICINITY, MAINTENANCE OF MINIMUM PRICES, ENFORCEMENT OF CONTRACTS, ADVANCEMENT OF INDIVIDUAL AND COLLECTIVE INTERESTS OF MUSICIANS

Program Service Accomplishments

Program 1

Expenses: $403,412

ESTABLISHED AND MAINTAINED MINIMUM PRICES, ENFORCED PROPERLY FILED CONTRACTS, PROMOTED AND STIMULATED A TRUE FRATERNAL FEELING AMONG THEIR MEMBERSHIP. APPROXIMATELY 777 MEMBERS SERVED DURING THE YEAR.

Program 2

Expenses: $5,088 Revenue: $240

NEWSPAPERS ARE PUBLISHED QUARTERLY AND APPROXIMATELY 3,500 COPIES WERE DISTRIBUTED DURING THE FISCAL YEAR ENDED MARCH 31, 2025.

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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 $487,924

Program Service Revenue $0

Investment Income $337

Other Revenue $5,771

TOTAL REVENUE $494,032

Expense Breakdown

Grants Paid $0

Salaries & Benefits $266,506

Fundraising Expenses $0

Program Expenses $408,500

Other Expenses $121,330

TOTAL EXPENSES $532,337

Year-over-Year Comparison

	2024	2023	Change
Revenue	$494,032	$464,731	+0.1%
Expenses	$532,337	$582,968	-0.1%
Net Income	$-38,305	$-118,237	-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

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

$167,271

Total Directors

$8,250

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GEORGE TROIA	PRESIDENT	40.00	Officer	$81,363	$0	$81,363
Michael McGowan	VICE PRESIDENT	5.00	Officer	$8,729	$0	$8,729
Carl Cafagna	SECRETARY-TREASURER	40.00	Officer	$77,179	$0	$77,179
Alan Ayoub	DIRECTOR	0.00	Director	$1,650	$0	$1,650
Ralph Armstrong	DIRECTOR	0.00	Director	$1,800	$0	$1,800
Nancy Chaklos	DIRECTOR	0.00	Director	$1,650	$0	$1,650
Lynn Marie Mangan	DIRECTOR	0.00	Director	$1,500	$0	$1,500
Douglas Cornelsen	DIRECTOR	0.00	Director	$1,650	$0	$1,650

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
2026	No data	No data	No data	No data
2025	$494,032	$532,337	$565,795	$-38,305
2024	$464,731	$582,968	$591,621	$-118,237
2023	$473,846	$480,508	$672,345	$-6,662
2022	$437,589	$438,012	$690,693	$-423
2021	$360,446	$408,916	$735,028	$-48,470

DETROIT FEDERATION OF MUSICIANS LOCAL 5