SOUNDWAVES ART FOUNDATION (EIN 463817830) - 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

2013

Legal Domicile

Principal Officer

TIMOTHY WAKEFIELD

Phone

5124579401

Tax Period

2023-01-01 to 2023-12-31

SOUNDWAVES ART FOUNDATION, founded in 2013, is a community nonprofit in the Human Services sector that reported $3.3M in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum. The organization ran a surplus of $658K, a strong 20% operating margin.

Mission

WE ARE A PHILANTHROPIC FOUNDATION THAT MAKES ORIGINAL PIECES OF ART BY CAPTURING THE DIGITAL HEARTBEAT OF SOME OF THE WORLDS MOST ICONIC MUSIC. 100% OF OUR PROFITS GO TO CHARITIES FOCUSING ON SOCIAL JUSTICE, THE ENVIRONMENT, DISASTER RELIEF, MUSIC EDUCATION, AND MENTAL HEALTH.

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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 $0

Program Service Revenue $0

Investment Income $0

Other Revenue $3,317,605

TOTAL REVENUE $3,317,605

Expense Breakdown

Grants Paid $1,371,037

Salaries & Benefits $713,230

Fundraising Expenses $12,881

Program Expenses $2,474,339

Other Expenses $574,915

TOTAL EXPENSES $2,659,182

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,317,605	$2,726,744	+0.2%
Expenses	$2,659,182	$2,022,347	+0.3%
Net Income	$658,423	$704,397	-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

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

$391,345

Total Directors

$391,345

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIMOTHY WAKEFIELD	FOUNDER/ARTIST	70.00	Officer Director	$332,525	$6,622	$339,147
ED BAILEY	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
NINA MILLER	SECRETARY	1.00	Officer Director	$0	$0	$0
SHARON WAKEFIELD	TREASURER	20.00	Officer Director	$44,028	$8,170	$52,198

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	$3,317,605	$2,659,182	$2,722,288	$658,423
2022	$2,726,744	$2,022,347	$1,994,087	$704,397
2021	$2,019,206	$1,705,680	$1,311,521	$313,526
2020	$1,799,635	$1,430,590	$976,330	$369,045

SOUNDWAVES ART FOUNDATION