FRIENDS OF THE MINNESOTA SINFONIA

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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

1989

Legal Domicile

Principal Officer

JAY FISHMAN

Phone

6128711701

Tax Period

2023-10-01 to 2024-09-30

FRIENDS OF THE MINNESOTA SINFONIA, founded in 1989, is a small nonprofit in the Arts, Culture & Humanities sector that reported $218K in total revenue in fiscal year 2023. Revenue fell 33% from the prior year — a significant decline worth monitoring. Expenses of $371K exceeded revenue, resulting in a 70% operating deficit.

Mission

THE MISSION OF THE MINNESOTA SINFONIA IS TO SERVE THE MUSICAL AND EDUCATIONAL NEEDS OF THE CITIZENS OF MINNESOTA, WITH PRIMARY EMPHASIS GIVEN TO FAMILIES WITH YOUNG CHILDREN, INNER-CITY YOUTH, SENIORS AND THOSE WITH LIMITED INCOMES.

Program Service Accomplishments

Program 1

Expenses: $355,983 Revenue: $2,637

WINTER AND SUMMER CONCERT SERIES THE WINTER AND SUMMER CONCERT SERIES FEATURING WORKS FROM THE POPULAR ORCHESTRA REPERTOIRE, NEW COMPOSITIONS BY MINNESOTA-BASED COMPOSERS, AND SHOWCASING...

WINTER AND SUMMER CONCERT SERIES THE WINTER AND SUMMER CONCERT SERIES FEATURING WORKS FROM THE POPULAR ORCHESTRA REPERTOIRE, NEW COMPOSITIONS BY MINNESOTA-BASED COMPOSERS, AND SHOWCASING INTERNATIONAL AWARD-WINNING SOLOISTS. HOLIDAY AND SUMMER FAMILY COMMUNITY CONCERTS COMMUNITY CONCERTS FEATURING LIGHTER FARE ARE PERFORMED THROUGHOUT THE TWIN CITIES METRO AREA AND ARE DESIGNED TO INTRODUCE THE PUBLIC TO QUALITY LIVE ORCHESTRA PERFORMANCES. PROGRAMS FOR TALENTED YOUNG MUSICIANS INCLUDES A YOUNG ARTIST COMPETITION, YOUTH OUTREACH WEEK, AND YOUNG COMPOSERS' CONTEST ALL TO PROVIDE OPPORTUNITIES FOR OUR REGION'S TALENTED YOUNG MUSICIANS. MUSIC IN THE SCHOOLS MUSIC IN THE SCHOOLS (MIS) IS A CURRICULUM-BASED K- 8 EDUCATION PROGRAM DESIGNED SPECIFICALLY FOR AT-RISK, INNER-CITY STUDENTS. CREATED USING STATE ACADEMIC STANDARDS, MIS USES GREAT ORCHESTRAL MUSIC AS A CATALYST TO ENGAGE STUDENTS IN THEIR ONGOING STUDIES OF CORE ACADEMICS. TOURING - THE SINFONIA TAKES THE FULL SINFONIA ORCHESTRA TO OUTSTATE MINNESOTA COMMUNITIES PROVIDING CONCERTS, ARTS EDUCATION, AND OUTREACH TO COMMUNITIES THAT GENERALLY DO NOT HAVE ACCESS TO QUALITY LIVE PROFESSIONAL ARTS EXPERIENCES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $202,301

Program Service Revenue $2,637

Investment Income $13,497

Other Revenue $0

TOTAL REVENUE $218,435

Expense Breakdown

Grants Paid $0

Salaries & Benefits $60,477

Fundraising Expenses $1,726

Program Expenses $355,983

Other Expenses $310,888

TOTAL EXPENSES $371,365

Year-over-Year Comparison

	2023	2022	Change
Revenue	$218,435	$325,432	-0.3%
Expenses	$371,365	$371,701	0.0%
Net Income	$-152,930	$-46,269	+2.3%

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

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

$50,704

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAY FISHMAN	ARTISTIC/EXECUTIVE DIRECTO	20.00	Officer	$50,704	$0	$50,704
TINA ENBERG	CHAIR	1.00	Officer Director	$0	$0	$0
ANNA MARGL	TREASURER	1.00	Officer Director	$0	$0	$0
SUZANNE ABRAMS	DIRECTOR	1.00	Director	$0	$0	$0
EVAN EVERIST	DIRECTOR	1.00	Director	$0	$0	$0
AL HAGAR	DIRECTOR	1.00	Director	$0	$0	$0
BRUCE HUMPHRYS	DIRECTOR	1.00	Director	$0	$0	$0
RICK MARGL	DIRECTOR	1.00	Director	$0	$0	$0
LORI PIETROWSKI	DIRECTOR	1.00	Director	$0	$0	$0
ANN TALIAFERRO	DIRECTOR	1.00	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
2024	$218,435	$371,365	$397,335	$-152,930
2023	$325,432	$371,701	$550,265	$-46,269
2022	$407,246	$318,894	$599,557	$88,352
2021	$420,202	$315,428	$507,432	$104,774
2020	$338,428	$313,776	$402,658	$24,652
2019	$459,976	$363,609	$378,006	$96,367
2018	$499,230	$453,237	$281,639	$45,993