SOUND IMPACT

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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

2015

Legal Domicile

Principal Officer

Michael Sapienza

Phone

7035687392

Tax Period

2023-01-01 to 2023-12-31

SOUND IMPACT, founded in 2015, is a small nonprofit in the Arts, Culture & Humanities sector that reported $241K in total revenue in fiscal year 2023. Revenue surged 45% from the prior year, signaling strong growth momentum.

Mission

Sound Impact (SI) is a collective of musicians dedicated to serving communities and igniting positive change in the United States and abroad through live performances, education programs, and creative collaborations with other artists and art forms. We believe that music and community engagement programs are powerful vehicles used to: (1) Empower people to expand their perspectives (2) Connect people of all ages and backgrounds (3) Engage people with new experiences

Program Service Accomplishments

Program 1

Expenses: $80,227 Revenue: $59,509

Education Programs, Concerts, and Residencies: Sound Impact reaches over 12,000 young people nationally through education concerts, residencies, and workshops, tying to curriculum connections. These programs take place in schools, libraries, and community centers to reduce barriers for participants and provide access to high-caliber music education.

Program 2

Expenses: $38,436 Revenue: $0

Juvenile Detention Center Residences: Sound Impact works with incarcerated youth through music education using self expression for youth development and education. This program reached approximately 50 incarcerated youth quarterly in Alexandria, VA This program combines live performance with arts-integrated education during transformative Use Your Voice residencies at juvenile detention centers. The program uses creative writing and music-making to activate participants voices, provide opportunity to explore self- expression, and heal trauma.

Program 3

Expenses: $44,312 Revenue: $0

Cultural Exchange Program: Select students from Latin America are given access and the opportunity to attend a music festival on full scholarship in the United States and year-round mentorship from Sound Impact musicians. In 2023, our program supported young artists from Panama and included working with communities within the United States during their visits.

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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 $181,266

Program Service Revenue $59,509

Investment Income $0

Other Revenue $0

TOTAL REVENUE $240,775

Expense Breakdown

Grants Paid $0

Salaries & Benefits $145,296

Fundraising Expenses $51,552

Program Expenses $162,975

Other Expenses $97,073

TOTAL EXPENSES $242,369

Year-over-Year Comparison

	2023	2022	Change
Revenue	$240,775	$165,870	+0.5%
Expenses	$242,369	$145,559	+0.7%
Net Income	$-1,594	$20,311	-1.1%

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

N/A

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

$63,025

Total Directors

$4,181

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Chase Maggiano	Chairman	5.00	Officer	$0	$0	$0
Jerome Gordon	Vice Chair	7.00	Officer	$2,086	$0	$2,086
Danielle Cho	Treasurer then Director	30.00	Officer	$27,994	$0	$27,994
Tiffany Richardson	Secretary	30.00	Officer	$32,945	$0	$32,945
Michael Sapienza	Director then Treasurer	5.00	Director	$0	$0	$0
Wanda Baez	Director	5.00	Director	$0	$0	$0
Keisha Johnstone	Director	8.00	Director	$4,181	$0	$4,181

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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$240,775	$242,369	$82,546	$-1,594