INSPIRE MUSIC SERVICE HOPE INC (EIN 461061738) - 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

2014

Legal Domicile

Phone

6025056755

Tax Period

2023-01-01 to 2023-12-31

INSPIRE MUSIC SERVICE HOPE INC, founded in 2014, is a small nonprofit in the Arts, Culture & Humanities sector that reported $288K in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Expenses of $467K exceeded revenue, resulting in a 62% operating deficit.

Mission

The mission of Inspire Music Service Hope is to lift hearts inspire action and empower people of all ages through music service and hope.

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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 $285,355

Program Service Revenue $0

Investment Income $3,129

Other Revenue $0

TOTAL REVENUE $288,484

Expense Breakdown

Grants Paid $0

Salaries & Benefits $58,162

Fundraising Expenses $64,758

Program Expenses $251,351

Other Expenses $344,183

TOTAL EXPENSES $467,103

Year-over-Year Comparison

	2023	2022	Change
Revenue	$288,484	$331,745	-0.1%
Expenses	$467,103	$505,069	-0.1%
Net Income	$-178,619	$-173,324	+0.0%

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

$24,000

Total Directors

$24,000

Key Employees

$104,000

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Julie Plotz	Tour Director	40.00	Key Emp Highest	$40,000	$0	$40,000
Heather Woodman	Theatre Director	40.00	Key Emp Highest	$40,000	$0	$40,000
Michael Sackett	Executive Director	20.00	Officer Director Key Emp	$24,000	$0	$24,000

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	$288,484	$467,103	$83,580	$-178,619
2022	$331,745	$505,069	$252,055	$-173,324
2021	$215,899	$236,719	$116,020	$-20,820

INSPIRE MUSIC SERVICE HOPE INC