LONG ISLAND MUSIC AND ENTERTAINMENT HALL (EIN 470958492) - 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

2004

Legal Domicile

Principal Officer

ERNEST CANADEO

Phone

5167426123

Tax Period

2024-01-01 to 2024-12-31

LONG ISLAND MUSIC AND ENTERTAINMENT HALL, founded in 2004, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.1M in total revenue in fiscal year 2024. Revenue surged 29% from the prior year, signaling strong growth momentum. The organization ran a surplus of $171K, a strong 16% operating margin.

Mission

TO CELEBRATE THE RICH MUSIC AND ENTERTAINMENT HERITAGE OF LONG ISLAND AND SUPPORT MUSIC AND ARTS EDUCATION FOR FUTURE GENERATIONS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $527,727

Program Service Revenue $540,276

Investment Income $0

Other Revenue $8,112

TOTAL REVENUE $1,076,115

Expense Breakdown

Grants Paid $10,000

Salaries & Benefits $223,722

Fundraising Expenses $19,727

Program Expenses $760,743

Other Expenses $671,388

TOTAL EXPENSES $905,110

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,076,115	$834,256	+0.3%
Expenses	$905,110	$591,537	+0.5%
Net Income	$171,005	$242,719	-0.3%

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

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

$7,392

Total Directors

$125,392

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERNEST CANADEO	CHAIRMAN	12.00	Officer Director	$0	$0	$0
NORM PRUSSLIN	TRUSTEE	8.00	Officer Director	$0	$0	$0
TOM NEEDHAM	TRUSTEE	8.00	Officer Director	$0	$0	$0
ROB DEBRAUWER	TRUSTEE	1.00	Officer Director	$0	$0	$0
LARRY DUNN	TRUSTEE	1.00	Director	$0	$0	$0
RONALD STAIR	TRUSTEE	1.00	Director	$0	$0	$0
BRIAN LEE	SECRETARY	1.00	Officer Director	$0	$0	$0
RON ALEXENBURG	TRUSTEE	1.00	Director	$0	$0	$0
DAVID BARAM	TRUSTEE	1.00	Director	$0	$0	$0
RICHARD BRANCIFORTE	TRUSTEE	1.00	Director	$0	$0	$0
JIM FAITH	TRUSTEE	8.00	Officer Director	$0	$0	$0
BARRY FISCH	TRUSTEE	40.00	Director	$70,000	$0	$70,000
JEFFREY JAMES	TRUSTEE	1.00	Director	$0	$0	$0
MARK MEINBERG	TRUSTEE	1.00	Director	$0	$0	$0
KELLY MAUDE LEUNG	TRUSTEE	20.00	Director	$48,000	$0	$48,000
KEVIN O'CALLAGHAN	TRUSTEE	1.00	Director	$0	$0	$0
ROB POSNER	TREASURER	1.00	Officer Director	$0	$0	$0
SANDRA TAYLOR	TRUSTEE	1.00	Director	$0	$0	$0
DAVE WIDMER	TRUSTEE	1.00	Director	$0	$0	$0
JUDI LACH VEECK	EXECUTIVE DIRECTOR	20.00	Officer Director	$7,392	$0	$7,392
PAUL ANTHONY	TRUSTEE	1.00	Director	$0	$0	$0
JOHNNY ROSADO	TRUSTEE	1.00	Director	$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	$1,076,115	$905,110	$2,555,283	$171,005
2023	$834,256	$591,537	$2,270,948	$242,719
2022	$389,964	$255,461	$1,833,460	$134,503
2018	$126,743	$104,725	$89,711	$22,018

LONG ISLAND MUSIC AND ENTERTAINMENT HALL