MIAMI MUSIC FESTIVAL INC

EIN: 471624928 501(c)(3) Education

MIAMI BEACH, FL

Total Revenue
$1,499,163
Total Expenses
$1,549,692
Total Assets
$1,579,829
Net Assets
$71,026
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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
FL
Tax Period
2023-09-01 to 2024-08-31

MIAMI MUSIC FESTIVAL INC, founded in 2014, is a community nonprofit in the Education sector that reported $1.5M in total revenue in fiscal year 2023. Revenue surged 37% from the prior year, signaling strong growth momentum.

Mission

THE MISSION OF THE MIAMI MUSIC FESTIVAL IS TO PROVIDE AFFORDABLE, WORLD CLASS MUSICAL INSTRUCTIONS.

Program Service Accomplishments

Program 1
Expenses: $1,261,806

THE MISSION OF TEH MIAMI MUSIC FESTIVAL IS TO PROVIDE AFFORBALE, WORLD-CLASS MUSICAL INSTRUCTIONS AND GROUND-BREAKING PERFORMANCE EXPERIENCES TO YOUNG ARTISTS AND TEH SOUTH FLORIDA REGION.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $407,691
Program Service Revenue $1,088,831
Investment Income $2,641
Other Revenue $0
TOTAL REVENUE $1,499,163

Expense Breakdown

Grants Paid $0
Salaries & Benefits $218,336
Fundraising Expenses $0
Program Expenses $1,261,806
Other Expenses $1,331,356
TOTAL EXPENSES $1,549,692

Year-over-Year Comparison

2023 2022 Change
Revenue $1,499,163 $1,090,795 +0.4%
Expenses $1,549,692 $996,999 +0.6%
Net Income $-50,529 $93,796 -1.5%
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

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Governance

Voting Members
9
Independent Members
9
Employees
3
Volunteers
9

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
3
$112,641
Total Directors
10
$112,641
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL A ROSSI EXECUTIVE DIRECTOR 40.00
Officer Director
$102,641 $10,000 $112,641
MANNY PEREZ TRUSTEE 0.00
Director
$0 $0 $0
LESLEY GOLDWASSER TRUSTEE 0.00
Director
$0 $0 $0
OLGA MELIN TRUSTEE 0.00
Director
$0 $0 $0
XIAODONG WU TRUSTEE 0.00
Director
$0 $0 $0
NAIRI S CHECKOSKY TRUSTEE 0.00
Director
$0 $0 $0
SEVAG BALIAN BOARD CHAIR 0.00
Director
$0 $0 $0
OLGA FIGUERAS TRUSTEE 0.00
Director
$0 $0 $0
LETICIA RIVERA DIRECTOR VICE 0.00
Officer Director
$0 $0 $0
DR MARK HERNANDEZ TREASURER 0.00
Officer 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
2025 No data No data No data No data
2024 $1,499,163 $1,549,692 $1,579,829 $-50,529
2023 $1,090,795 $996,999 $156,813 $93,796
2022 $1,039,213 $1,047,670 $42,784 $-8,457
2021 $478,160 $462,062 $42,145 $16,098
2020 $307,811 $429,484 $103,559 $-121,673
2019 $1,108,429 $978,123 $225,207 $130,306
2018 $968,141 $983,148 $121,710 $-15,007
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