FRIENDS OF MUSIC OF THE BERGENFIEL… - 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

2006

Legal Domicile

Principal Officer

CHERYL DELA CRUZ

Phone

9175450236

Tax Period

2022-07-01 to 2023-06-30

FRIENDS OF MUSIC OF THE BERGENFIELD SCHOOLS, founded in 2006, is a micro nonprofit in the Education sector that reported $49K in total revenue in fiscal year 2022. Revenue decreased 11% compared to the prior year.

Mission

TO PROMOTE MUSIC EDUCATION IN BERGENFIELD NJ SCHOOLS. TO KEEP PARENTS INFORMED OF MUSIC DEPARTMENT ACTIVITIES AND PERFORMANCES AND TO RAISE FUNDS TO AUGMENT MUSIC PROGRAMS AND PROVIDE SCHOLARSHIPS.

Program Service Accomplishments

Program 1

Expenses: $39,429 Revenue: $32,622

HELPED PROMOTE MUSIC EDUCATION IN BERGENFIELD SCHOOLS. HELPED ALSO IN KEEPING PARENTS INFORMED OF THE MUSIC DEPARTMENT'S ACTIVITIES AND PERFORMANCES. RAISED FUNDS TO AUGMENT THE MUSIC PROGRAMS AND...

HELPED PROMOTE MUSIC EDUCATION IN BERGENFIELD SCHOOLS. HELPED ALSO IN KEEPING PARENTS INFORMED OF THE MUSIC DEPARTMENT'S ACTIVITIES AND PERFORMANCES. RAISED FUNDS TO AUGMENT THE MUSIC PROGRAMS AND LASTLY, PROVIDED SCHOLARSHIPS TO DESERVING STUDENTS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $1,232

Program Service Revenue $32,622

Investment Income $237

Other Revenue $14,561

TOTAL REVENUE $48,652

Expense Breakdown

Grants Paid $5,200

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $39,429

Other Expenses $42,225

TOTAL EXPENSES $47,425

Year-over-Year Comparison

	2022	2021	Change
Revenue	$48,652	$54,718	-0.1%
Expenses	$47,425	$51,170	-0.1%
Net Income	$1,227	$3,548	-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

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
CHERYL DELACRUZ	PRESIDENT	2.00	Officer	$0	$0	$0
ANDRE RODRIGUEZ	TREASURER	3.00	Officer	$0	$0	$0
TRACY POON	SECRETARY	2.00	Officer	$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
2023	$48,652	$47,425	$62,426	$1,227
2022	$54,718	$51,170	$61,199	$3,548
2021	$12,027	$65,564	$57,651	$-53,537
2020	$112,764	$66,063	$111,188	$46,701
2019	$59,873	$55,628	$63,537	$4,245

FRIENDS OF MUSIC OF THE BERGENFIELD SCHOOLS