JAZZ LEGACY FOUNDATION 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

2013

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

JAZZ LEGACY FOUNDATION INC, founded in 2013, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.2M in total revenue in fiscal year 2023. Expenses of $1.2M left a modest 3% surplus.

Mission

PRVOIDE CHARITABLE AND EDUCATIONAL PROGRAMS TO ENCOURAGE, PRESERVE AND PROMOTE THE APPRECIATION AND LOVE OF THE ART OF JAZZ

Program Service Accomplishments

Program 1

Expenses: $1,140,084 Revenue: $1,207,704

Annually, the Jazz Legacy Foundation sponsors a series of jazz events and performances to foster public appreciation for the diversity of jazz music. These events provide opportunities for aspiring music students and novice jazz musicians to interact with and learn from internationally renowned jazz artists. The foundation also pairs master jazz musicians with students and conducts educational workshops to inspire a love and appreciation of jazz.

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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 $1,201,704

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,201,704

Expense Breakdown

Grants Paid $3,173

Salaries & Benefits $66,300

Fundraising Expenses $0

Program Expenses $1,140,084

Other Expenses $1,090,304

TOTAL EXPENSES $1,159,777

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,201,704	$1,165,760	+0.0%
Expenses	$1,159,777	$847,086	+0.4%
Net Income	$41,927	$318,674	-0.9%

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

$66,300

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
JERILYN HORNE	TREASURER	Officer	$47,000	$0	$47,000
ALVIN KEELS	BOARD CHAIR	Officer	$19,300	$0	$19,300
CYNTHIA MELTON	DIRECTOR	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
2024	No data	No data	No data	No data
2023	$1,201,704	$1,159,777	$57,450	$41,927
2019	$665,223	$616,329	$138,246	$48,894
2018	$508,276	$579,874	$46,049	$-71,598