HICKORY MUSIC FACTORY INC

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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

2012

Legal Domicile

Principal Officer

LIAM T BAILEY

Phone

8283085659

Tax Period

2025-01-01 to 2025-12-31

HICKORY MUSIC FACTORY INC, founded in 2012, is a small nonprofit in the Arts, Culture & Humanities sector that reported $519K in total revenue in fiscal year 2025. Revenue surged 140% from the prior year, signaling strong growth momentum. Expenses of $479K left a modest 8% surplus.

Mission

BUILD FUTURES THROUGH MUSIC BY TEACHING, PERFORMANCE, AND COMMUNITY OUTREACH.

Program Service Accomplishments

Program 1

Expenses: $457,327 Revenue: $445,948

MUSIC LESSONS AND CAMPS PROVIDED TO MORE THAN 200 STUDENTS AND NUMEROUS OPPORTUNITIES TO PERFORM; INCLUDING OPEN MIC EVENTS, CONCERTS WITH PROFESSIONAL MUSICIANS AND CLINICS. THIS INCLUDES...

MUSIC LESSONS AND CAMPS PROVIDED TO MORE THAN 200 STUDENTS AND NUMEROUS OPPORTUNITIES TO PERFORM; INCLUDING OPEN MIC EVENTS, CONCERTS WITH PROFESSIONAL MUSICIANS AND CLINICS. THIS INCLUDES SCHOLARSHIP OPPORTUNITIES FOR CHILDREN FROM FAMILIES WITH LIMITED RESOURCES AND PERFORMANCE EVENTS TO PROMOTE MUSIC APPRECIATION

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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 (2025)

Revenue Breakdown

Contributions & Grants $30,944

Program Service Revenue $436,420

Investment Income $8,350

Other Revenue $43,594

TOTAL REVENUE $519,308

Expense Breakdown

Grants Paid $3,800

Salaries & Benefits $109,749

Fundraising Expenses $0

Program Expenses $457,327

Other Expenses $365,616

TOTAL EXPENSES $479,165

Year-over-Year Comparison

	2025	2024	Change
Revenue	$519,308	$216,808	+1.4%
Expenses	$479,165	$181,845	+1.6%
Net Income	$40,143	$34,963	+0.1%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SARA PAUL	PAST PRESIDENT	2.00	Director	$0	$0	$0
TONY ELTORA	INTERIM DIRECTOR OF OPERATIONS	40.00	Officer Director	$0	$0	$0
KATHERINE TRUITT	DIRECTOR	2.00	Director	$0	$0	$0
JOEL EBEL	DIRECTOR	1.00	Director	$0	$0	$0
ROB LEWINKSI	SECRETARY	1.00	Officer Director	$0	$0	$0
GORDON MATTICHAK	DIRECTOR	1.00	Director	$0	$0	$0
MARSHA HUGHES	TREASURER	2.00	Officer Director	$0	$0	$0
TRACY BOLICK	PRESIDENT	2.00	Officer Director	$0	$0	$0
DAVID CORTELLO	DIRECTOR	1.00	Director	$0	$0	$0
LIAM BAILEY	EXECUTIVE DIRECTORY	40.00	Director	$0	$0	$0
MELISSA ALDERMAN	DIRECTOR	1.00	Director	$0	$0	$0
J PATRICK WARREN	DIRECTOR	1.00	Director	$0	$0	$0
BRETT MILLER	DIRECTOR	1.00	Director	$0	$0	$0
DEVON FISHER	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
2025	$519,308	$479,165	$416,408	$40,143
2024	$216,808	$181,845	$381,206	$34,963
2023	$195,992	$164,442	$340,061	$31,550
2022	$219,368	$203,301	$309,634	$16,067
2021	$135,895	$97,336	$307,771	$38,559
2020	$74,070	$67,627	$238,266	$6,443
2019	$116,673	$86,002	$217,888	$30,671
2018	$119,534	$81,894	$169,895	$37,640