NANTUCKET COMMUNITY MUSIC CENTER

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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

1975

Legal Domicile

Principal Officer

RICHARD JAYCOBS

Phone

5082283352

Tax Period

2022-07-01 to 2023-06-30

NANTUCKET COMMUNITY MUSIC CENTER, founded in 1975, is a small nonprofit in the Arts, Culture & Humanities sector that reported $526K in total revenue in fiscal year 2022. Expenses of $494K left a modest 6% surplus.

Mission

TO ENRICH THE CULTURAL LIFE OF THE ISLAND BY FOSTERING AND SUPPORTING MUSIC EDUCATION AND PERFORMANCE OPPORTUNITIES FOR YOUNG PEOPLE AND ADULTS.

Program Service Accomplishments

Program 1

Expenses: $264,281 Revenue: $143,260

PRIVATE AND GROUP MUSIC LESSONS FOR ADULTS AND CHILDREN IN THE NANTUCKET COMMUNITY, PERFORMANCE OPPORTUNITIES FOR STUDENTS, FACULTY, AND ISLAND MUSICIANS; MUSICAL GROUPS, ENSEMBLES, AND VOCAL CHOIRS...

Program 2

Expenses: $75,284 Revenue: $64,659

COMMUNITY CONCERTS

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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 (2022)

Revenue Breakdown

Contributions & Grants $308,666

Program Service Revenue $207,919

Investment Income $9,105

Other Revenue $0

TOTAL REVENUE $525,690

Expense Breakdown

Grants Paid $9,004

Salaries & Benefits $279,774

Fundraising Expenses $9,145

Program Expenses $339,565

Other Expenses $205,283

TOTAL EXPENSES $494,061

Year-over-Year Comparison

	2022	2021	Change
Revenue	$525,690	$539,098	0.0%
Expenses	$494,061	$498,858	0.0%
Net Income	$31,629	$40,240	-0.2%

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

$75,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD JAYCOBS	PRESIDENT	1.00	Officer Director	$0	$0	$0
CAROL SPINELLI	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
BISY STANCHEVA	FINANCIAL OFFICER	1.00	Officer Director	$0	$0	$0
ANNE CARMIGNANI	SECRETARY	1.00	Officer Director	$0	$0	$0
VIRGINIA BULLINGTON	TRUSTEE	1.00	Director	$0	$0	$0
ANASTASIA CHER	TRUSTEE	1.00	Director	$0	$0	$0
JANET CONNOR	TRUSTEE	1.00	Director	$0	$0	$0
ELIZABETH DAVIES	TRUSTEE	1.00	Director	$0	$0	$0
BENJAMIN FERRANTELLA	TRUSTEE	1.00	Director	$0	$0	$0
MOLLIE GLAZER	TRUSTEE	1.00	Director	$0	$0	$0
MELANIE GOWEN	TRUSTEE	1.00	Director	$0	$0	$0
CECI GUITIERREZ	TRUSTEE	1.00	Director	$0	$0	$0
MARGOT T YOUNG	TRUSTEE	1.00	Director	$0	$0	$0
JOE HAMMER	TRUSTEE	1.00	Director	$0	$0	$0
MARY BETH HARVEY	TRUSTEE	1.00	Director	$0	$0	$0
JOHN F OLSON	TRUSTEE	1.00	Director	$0	$0	$0
MELISSA RYAN	TRUSTEE	1.00	Director	$0	$0	$0
JAMIE STROBINO	TRUSTEE	1.00	Director	$0	$0	$0
ANTHONY WAGNER	EXECUTIYE DIRECTOR	40.00	Officer	$75,000	$0	$75,000

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	No data	No data	No data	No data
2023	$525,690	$494,061	$427,163	$31,629
2022	$539,098	$498,858	$407,999	$40,240
2021	$537,671	$492,602	$467,508	$45,069
2021	$566,671	$492,602	$465,495	$74,069
2020	$378,296	$376,962	$394,486	$1,334
2019	$526,301	$479,352	$331,719	$46,949
2018	$481,529	$540,725	$289,984	$-59,196