WALKER WEST MUSIC ACADEMY

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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

1991

Legal Domicile

Principal Officer

BRAXTON HAULCY

Phone

6512242929

Tax Period

2023-01-01 to 2023-12-31

WALKER WEST MUSIC ACADEMY, founded in 1991, is a community nonprofit that reported $7.6M in total revenue in fiscal year 2023. Revenue surged 318% from the prior year, signaling strong growth momentum. The organization ran a surplus of $5.3M, a strong 70% operating margin.

Mission

WALKER WEST MUSIC ACADEMY CREATES A MUSIC LEARNING COMMUNITY ROOTED IN THE AFRICAN-AMERICAN CULTURAL EXPERIENCE, WHERE PEOPLE OF ALL AGES AND BACKGROUNDS CAN GATHER, EXPLORE, AND GROW THROUGH MUSIC, BY PROVIDING LESSONS ON VARIOUS INSTRUMENTS.

Program Service Accomplishments

Program 1

Expenses: $1,441,530 Revenue: $442,326

INDIVIDUAL PRIVATE LESSONS: THERE WERE 296 STUDENTS SIGNED UP FOR INDIVIDUAL LESSONS AND ENSEMBLES IN 2023. LESSONS ARE DONE IN 18-20-WEEK SESSIONS FROM SEPTEMBER TO JUNE AND AN 8-WEEK SESSION OVER THE SUMMER. INSTRUMENTS FOR INDIVIDUAL INSTRUCTION INCLUDE PIANO, GUITAR, BASS, WIND INSTRUMENTS, VOICE, PERCUSSION, ORGAN, VIOLIN, VIOLA, AND CELLO. AFTER EACH SESSION, A CONCERT IS GIVEN SO STUDENTS CAN PERFORM WHAT THEY HAVE LEARNED. THE CONCERTS ARE OPEN TO THE PUBLIC AND ANYONE INTERESTED IN ATTENDING IS WELCOME TO ATTEND. PRIVATE LESSONS ARE TAUGHT TO STUDENTS AGES 5 AND OLDER. OUR JAZZ ENSEMBLES REHEARSE WEEKLY AND PERFORM FOR COMMUNITY EVENTS SUCH AS JUNETEENTH, NATIONAL NIGHT OUT, SELBY JAZZ FESTIVAL, AND TWIN CITIES JAZZ FEST. THERE IS ONE ADULT JAZZ ENSEMBLE AND FOUR YOUTH JAZZ ENSEMBLES. THE KAMOINGE STRING ENSEMBLE WHICH IS COMPOSED OF PRIVATE LESSON STUDENTS, PREPARES SELECTIONS TO PERFORM AT COMMUNITY EVENTS. OUR EARLY CHILDHOOD MUSIC PROGRAM SERVES STUDENTS 0-6 WITH THEIR CAREGIVERS. CAREGIVERS AND CHILDREN PARTICIPATE IN WEEKLY MUSIC GROUP ACTIVITIES THAT SUPPORT BRAIN DEVELOPMENT AND SCHOOL READINESS. WALKER WEST PROVIDES MUSIC PROGRAMS TO OLDER ADULTS WHO ARE FACING MEMORY LOSS THROUGH THE AMAZING GRACE CHOIR. WALKER WEST TAKES THE JOY OF MUSIC INTO THE RONDO ELDER COMMUNITY WITH ITS SINGSPIRATION INITIATIVE, WHICH SERVED 25 OLDER ADULTS IN 2023 AND 38 CURRENT PARTICIPANTS WHO PERFORM AT CONGREGATIONS AND COMMUNITY EVENTS. WALKER WEST OFFERS DIGITAL MUSIC PROGRAMS AND RESIDENCIES AT LOCAL SCHOOLS AND COMMUNITY CENTERS. IN 2023 WWMA SERVED OVER 150 PARTICIPANTS IN THIS PROGRAMMING.

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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 $7,109,180

Program Service Revenue $445,108

Investment Income $43,729

Other Revenue $5,749

TOTAL REVENUE $7,603,766

Expense Breakdown

Grants Paid $62,323

Salaries & Benefits $1,070,078

Fundraising Expenses $594,316

Program Expenses $1,441,530

Other Expenses $1,160,979

TOTAL EXPENSES $2,293,380

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,603,766	$1,819,821	+3.2%
Expenses	$2,293,380	$1,619,609	+0.4%
Net Income	$5,310,386	$200,212	+25.5%

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

$111,180

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BARBARA DOYLE	CHAIR	5.00	Officer Director	$0	$0	$0
MARY BOLKUM	VICE CHAIR	5.00	Officer Director	$0	$0	$0
GREG FINZELL	SECRETARY	5.00	Officer Director	$0	$0	$0
CHRISTY BARTLETT	TREASURER	5.00	Officer Director	$0	$0	$0
ERIC CLARK	TREASURER	1.00	Officer Director	$0	$0	$0
GRANT WEST	CO-FOUNDER	1.00	Director	$0	$0	$0
REVEREND CARL WALKER	CO-FOUNDER	1.00	Director	$0	$0	$0
MARY KAY BOYD	DIRECTOR	1.00	Director	$0	$0	$0
CHERISE AYERS	DIRECTOR	1.00	Director	$0	$0	$0
RUSSELL KNIGHTON	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL WALKER	DIRECTOR	1.00	Director	$0	$0	$0
JEFF BAILEY	DIRECTOR	1.00	Director	$0	$0	$0
DAVID MOHR	DIRECTOR	1.00	Director	$0	$0	$0
JOHN BENNETT	DIRECTOR	5.00	Director	$0	$0	$0
LINDA SLOAN	DIRECTOR	5.00	Director	$0	$0	$0
VALERIE BUTLER	DIRECTOR	5.00	Director	$0	$0	$0
DAN OLSON	DIRECTOR	5.00	Director	$0	$0	$0
ANTHONY WALKER	DIRECTOR	1.00	Director	$0	$0	$0
BRAXTON HAULCY	EXECUTIVE DIRECTOR	50.00	Officer	$108,180	$3,000	$111,180

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	No data	No data	No data	No data
2023	$7,603,766	$2,293,380	$7,219,783	$5,310,386
2022	$1,819,821	$1,619,609	$1,829,522	$200,212
2021	$1,732,905	$1,271,936	$1,276,732	$460,969
2020	$1,063,625	$951,982	$863,203	$111,643