MUSIC THERAPY SERVICES INC (EIN 460686951) - Form 990 Financial Analysis & Trantor Score

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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

Tax Period

2023-01-01 to 2023-12-31

MUSIC THERAPY SERVICES INC, founded in 2012, is a small nonprofit in the Arts, Culture & Humanities sector that reported $440K in total revenue in fiscal year 2023.

Mission

MUSIC THERAPY SERVICES, INC. IS ORGANIZED EXCLUSIVELY FOR CHARITABLE PURPOSES WITHIN THE MEANING OF IRC SECTION 501(C)(3) AND EXISTS TO PROVIDE SERVICE AND CHARITABLE ASSISTANCE IN THE MANNER OF PROVIDING MUSIC THERAPY AND CREATIVE ARTS SERVICES TO INDIVIDUALS WITH DISABILITIES.

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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 $439,258

Program Service Revenue $0

Investment Income $530

Other Revenue $0

TOTAL REVENUE $439,788

Expense Breakdown

Grants Paid $0

Salaries & Benefits $111,193

Fundraising Expenses $0

Program Expenses $482,759

Other Expenses $371,566

TOTAL EXPENSES $482,759

Year-over-Year Comparison

	2023	2022	Change
Revenue	$439,788	$442,029	0.0%
Expenses	$482,759	$429,268	+0.1%
Net Income	$-42,971	$12,761	-4.4%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROGER OWENSBY	BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
NANCY OWENSBY	BOARD OF DIRECTORS	0.00	Director	$0	$0	$0
NANCY WALLACE	SECRETARY AND TREASURER	0.00	Officer Director	$0	$0	$0
MICHAEL CASSITY	PRESIDENTCEO	40.00	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	$439,788	$482,759	$76,914	$-42,971
2022	$442,029	$429,268	$122,863	$12,761
2021	$339,012	$374,687	$106,986	$-35,675
2020	$410,496	$300,531	$143,042	$109,965
2019	$342,625	$329,240	$51,935	$13,385
2018	$276,898	$297,312	$34,732	$-20,414

MUSIC THERAPY SERVICES INC