NANTUCKET COMMUNITY MUSIC CENTER

EIN: 510194502 501(c)(3) Arts, Culture & Humanities

NANTUCKET, MA

Total Revenue
$525,690
Total Expenses
$494,061
Total Assets
$427,163
Net Assets
$405,320
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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
MA
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.

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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 (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

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Governance

Voting Members
18
Independent Members
18
Employees
25
Volunteers
10

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
5
$75,000
Total Directors
18
$0
Key Employees
0
$0
Highest Compensated
0
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
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