THE HEART OF MUSIC FESTIVAL INC (EIN 471684032) - 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

2014

Legal Domicile

Phone

7164354825

Tax Period

2024-01-01 to 2024-12-31

THE HEART OF MUSIC FESTIVAL INC, founded in 2014, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $84K in total revenue in fiscal year 2024. Revenue fell 34% from the prior year — a significant decline worth monitoring. Expenses of $149K exceeded revenue, resulting in a 77% operating deficit.

Mission

TO ORGANIZE AND PRODUCE AN ANNUAL MUSICAL FUNDRAISER FOR THE BENEFIT OF LOCAL NON-PROFIT ORGANIZATIONS

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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 $240,018

Program Service Revenue $0

Investment Income $0

Other Revenue $-155,722

TOTAL REVENUE $84,296

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $128,090

Other Expenses $149,022

TOTAL EXPENSES $149,022

Year-over-Year Comparison

	2024	2023	Change
Revenue	$84,296	$127,058	-0.3%
Expenses	$149,022	$125,369	+0.2%
Net Income	$-64,726	$1,689	-39.3%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ELIZABETH GREW	TREASURER	15.00	Director	$0	$0	$0
RICK BOORMAN	VICE PRESIDENT LEGAL COUNSEL	0.00	Director	$0	$0	$0
ALLI PELLETREAU	SECRETARY	0.00	Director	$0	$0	$0
MIKE OCONNOR	COMMUNITY OUTREACH MEMBER AT LARGE	0.00	Director	$0	$0	$0
CHRISTOPHER WELCH	PRESIDENT	0.00	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	$84,296	$149,022	$44,083	$-64,726
2023	$127,058	$125,369	$108,809	$1,689
2020	$3,579	$13,526	$81,646	$-9,947
2019	$257,250	$258,645	$91,593	$-1,395
2018	$163,384	$137,088	$83,913	$26,296

THE HEART OF MUSIC FESTIVAL INC