Michigan Philharmonic

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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

1945

Legal Domicile

Principal Officer

Elizabeth Stewart

Phone

7344512112

Tax Period

2024-07-01 to 2025-06-30

Michigan Philharmonic, founded in 1945, is a small nonprofit that reported $500K in total revenue in fiscal year 2024.

Mission

To enrich the communities of Southeastern Michigan in fostering excellence and innovation to our community in the performance of orchestral music to educate current and future audiences

Program Service Accomplishments

Program 1

Expenses: $376,447 Revenue: $200,790

The Michigan Philharmonic presented 8 regular season concerts, 5 outdoor summer concerts, 3 Michigan Youth Orchestra concerts and 4 Tiny Tunes Concerts as well as outreach programs in several local...

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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 $293,276

Program Service Revenue $200,790

Investment Income $0

Other Revenue $6,194

TOTAL REVENUE $500,260

Expense Breakdown

Grants Paid $0

Salaries & Benefits $56,068

Fundraising Expenses $7,631

Program Expenses $376,447

Other Expenses $462,130

TOTAL EXPENSES $518,198

Year-over-Year Comparison

	2024	2023	Change
Revenue	$500,260	$506,995	0.0%
Expenses	$518,198	$559,014	-0.1%
Net Income	$-17,938	$-52,019	-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

Employees

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

$42,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ELIZABETH STEWART	Executive Director	50.00	Officer	$42,000	$0	$42,000

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	$500,260	$518,198	$381,103	$-17,938
2024	$506,995	$559,014	$365,426	$-52,019
2023	$470,103	$505,656	$398,103	$-35,553
2022	$766,461	$443,842	$357,708	$322,619
2022	$742,406	$434,851	$378,590	$307,555
2021	$284,368	$244,654	$74,395	$39,714