WILLIAMSBURG MUSIC ASSOCIATION

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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

1984

Legal Domicile

Principal Officer

CAROLYN KEURAJIAN

Phone

7572299857

Tax Period

2023-07-01 to 2024-06-30

WILLIAMSBURG MUSIC ASSOCIATION, founded in 1984, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2023. Revenue surged 40% from the prior year, signaling strong growth momentum. The organization ran a surplus of $286K, a strong 24% operating margin.

Mission

THE WILLIAMSBURG SYMPHONY ORCHESTRA ADHERES TO A THREEFOLD MISSION: PRESENT THE HIGHEST QUALITY PERFORMANCES OF GREAT MUSIC, BRINGING REGIONAL AND NATIONAL DISTINCTION TO THE ORCHESTRA AND THE GREATER WILLIAMSBURG COMMUNITY; DELIGHT AND EDUCATE DIVERSE AUDIENCES OF ALL AGES, AS A VIGOROUS COMPONENT OF THE CULTURAL FABRIC OF GREATER WILLIAMSBURG; AND OPERATE IN A FINANCIALLY SOUND MANNER.

Program Service Accomplishments

Program 1

Expenses: $714,674 Revenue: $438,654

PROMOTE THE PERFORMANCE, AWARENESS, AND APPRECIATION OF PROFESSIONAL LEVEL SYMPHONIC MUSIC BY ORGANIZING AND PRESENTING CONCERT PERFORMANCES. COLLABORATE WITH OTHER ARTS ORGANIZATIONS. FURTHER, IN...

PROMOTE THE PERFORMANCE, AWARENESS, AND APPRECIATION OF PROFESSIONAL LEVEL SYMPHONIC MUSIC BY ORGANIZING AND PRESENTING CONCERT PERFORMANCES. COLLABORATE WITH OTHER ARTS ORGANIZATIONS. FURTHER, IN THE CURRENT FISCAL YEAR, THE ORGANIZATION SUCCESSFULLY HIRED A NEW MUSIC DIRECTOR AS WELL AS ADDED A NEW POP CONCERT, "CIRQUE DE LA SYMPHONIE."

Program 2

Expenses: $11,734 Revenue: $8,000

ENRICH SCHOOL MUSIC PROGRAMS, ENCOURAGE THE STUDY OF MUSIC, AND PROMOTE THE UNDERSTANDING, ENJOYMENT, AND APPRECIATION OF CLASSICAL MUSIC BY PEOPLE OF ALL AGES. THE ORGANIZATION IS EXPANDING ITS...

ENRICH SCHOOL MUSIC PROGRAMS, ENCOURAGE THE STUDY OF MUSIC, AND PROMOTE THE UNDERSTANDING, ENJOYMENT, AND APPRECIATION OF CLASSICAL MUSIC BY PEOPLE OF ALL AGES. THE ORGANIZATION IS EXPANDING ITS VIRTUAL PRESENCE AND OFFERS VIRTUAL INSTRUMENTAL COACHING CLASSES, LESSON PLANS AND VIDEOS ON THE WEBSITE, AND PRERECORDED VIDEOS FOR MUSIC IN OUR SCHOOLS MONTH (MARCH). THE SIDE BY SIDE CONCERT WITH THE WILLIAMSBURG YOUTH ORCHESTRA ALSO RETURNED IN THE CURRENT FISCAL YEAR.

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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 $706,516

Program Service Revenue $446,654

Investment Income $50,892

Other Revenue $0

TOTAL REVENUE $1,204,062

Expense Breakdown

Grants Paid $0

Salaries & Benefits $170,384

Fundraising Expenses $47,814

Program Expenses $726,408

Other Expenses $748,050

TOTAL EXPENSES $918,434

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,204,062	$860,638	+0.4%
Expenses	$918,434	$798,600	+0.2%
Net Income	$285,628	$62,038	+3.6%

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

135

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

$89,375

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RONALD MONARK	CHAIR OF THE BOARD	10.00	Officer Director	$0	$0	$0
JON E KRAPFL	VICE CHAIR	25.00	Officer Director	$0	$0	$0
S JANE DESOLMS	TREASURER	5.00	Officer Director	$0	$0	$0
SUSANNAH LIVINGSTON	SECRETARY	2.00	Officer Director	$0	$0	$0
LINDA BAKER	CHAIR, GOVERNANCE	10.00	Officer Director	$0	$0	$0
DAN DUTCHER	CHAIR, MARKETING & PROMO	1.00	Officer Director	$0	$0	$0
REGINALD A FOX	CHAIR, ARTISTIC ADVISORY	2.00	Officer Director	$0	$0	$0
CONNIE MATTHEWS HARSHAW	CHAIR, STRATEGIC PLANNING	1.00	Officer Director	$0	$0	$0
SUE KLEPAC	CHAIR, ADMINISTRATION	20.00	Officer Director	$0	$0	$0
DENISE W KOCH	CHAIR, EDUCATION	6.00	Officer Director	$0	$0	$0
TERRY MURPHY	CHAIR, RESOURCES DEVELOPME	15.00	Officer Director	$0	$0	$0
JASON CHEN	PRES. WMSBG YOUTH ORCHESTR	0.25	Officer Director	$0	$0	$0
DEBBIE MONARK	PRES. WMSBG SYMPHONY LEAGU	35.00	Officer Director	$0	$0	$0
CELIA ADLOPHI	TRUSTEE	2.00	Director	$0	$0	$0
ROBIN BARRET BLEDSOE	TRUSTEE	48.00	Director	$0	$0	$0
JUDITH M BOWERS	TRUSTEE	2.00	Director	$0	$0	$0
HELEN ZADARLIK COUSINS	TRUSTEE	0.50	Director	$0	$0	$0
ROY FEMENELLA	TRUSTEE	2.50	Director	$0	$0	$0
R ALLAN FINGER	TRUSTEE	1.00	Director	$0	$0	$0
RONALD L HURST	TRUSTEE	0.50	Director	$0	$0	$0
MICHELE A W MCKINNON	TRUSTEE	1.00	Director	$0	$0	$0
JAMES L MULLINS	TRUSTEE	0.35	Director	$0	$0	$0
JOHN G STEEL	TRUSTEE	3.00	Director	$0	$0	$0
PAUL D TRY	TRUSTEE	1.00	Director	$0	$0	$0
CAROLYN KEURAJIAN	PRESIDENT/CEO	40.00	Officer	$89,375	$0	$89,375

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	$1,204,062	$918,434	$1,902,134	$285,628
2023	$860,638	$798,600	$1,430,295	$62,038
2022	$1,022,675	$664,423	$1,263,975	$358,252
2021	$409,905	$239,048	$941,309	$170,857
2020	$860,250	$586,827	$701,620	$273,423
2019	$635,986	$598,277	$492,268	$37,709