SONGS BY HEART FOUNDATION (EIN 472743895) - 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

2015

Legal Domicile

Principal Officer

NANCY J GUSTAFSON

Phone

2026623406

Tax Period

2023-01-01 to 2023-12-31

SONGS BY HEART FOUNDATION, founded in 2015, is a small nonprofit in the Health Care sector that reported $374K in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

THE SONGS BY HEART FOUNDATION AIMS TO IMPROVE THE QUALITY OF LIFE FOR PERSONS FACING AGE RELATED MEMORY ISSUES THROUGH THE POWER OF MUSIC USING INTERACTIVE LIVE VOCAL MUSIC FIVE DAYS PER WEEK.

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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 $177,942

Program Service Revenue $195,599

Investment Income $0

Other Revenue $0

TOTAL REVENUE $373,541

Expense Breakdown

Grants Paid $0

Salaries & Benefits $366,242

Fundraising Expenses $392

Program Expenses $325,298

Other Expenses $15,954

TOTAL EXPENSES $382,196

Year-over-Year Comparison

	2023	2022	Change
Revenue	$373,541	$343,059	+0.1%
Expenses	$382,196	$330,645	+0.2%
Net Income	$-8,655	$12,414	-1.7%

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
NANCY GUSTAFSON	PRESIDENT	20.00	Officer Director	$0	$0	$0
ERIC FOX	TREASURER	2.00	Officer Director	$0	$0	$0
MURIEL BRUNGER	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
SYLVIA MCNAIR	VICE PRESIDENT	1.00	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
2024	No data	No data	No data	No data
2023	$373,541	$382,196	$61,361	$-8,655
2022	$343,059	$330,645	$70,016	$12,414
2021	$272,958	$241,221	$57,603	$31,737
2020	$260,559	$270,179	$30,071	$-9,620

SONGS BY HEART FOUNDATION