HERBIE HANCOCK INSTITUTE OF JAZZ (EIN 521544030) - 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

1987

Legal Domicile

Phone

2023647272

Tax Period

2023-01-01 to 2023-12-31

HERBIE HANCOCK INSTITUTE OF JAZZ, founded in 1987, is a community nonprofit in the Arts, Culture & Humanities sector that reported $3.6M in total revenue in fiscal year 2023. Revenue surged 37% from the prior year, signaling strong growth momentum. The organization ran a surplus of $661K, a strong 19% operating margin.

Mission

TO OFFER THE WORLD'S MOST PROMISING YOUNG MUSICIANS COLLEGE LEVEL TRAINING BY INTERNATIONALLY RENOWNED JAZZ MASTERS AND TO PRESENT PUBLIC SCHOOL JAZZ EDUCATION PROGRAMS FOR YOUNG PEOPLE AROUND THE WORLD.

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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 $3,555,096

Program Service Revenue $0

Investment Income $157

Other Revenue $8,689

TOTAL REVENUE $3,563,942

Expense Breakdown

Grants Paid $0

Salaries & Benefits $891,352

Fundraising Expenses $108,583

Program Expenses $2,613,243

Other Expenses $2,011,768

TOTAL EXPENSES $2,903,120

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,563,942	$2,592,623	+0.4%
Expenses	$2,903,120	$2,761,548	+0.1%
Net Income	$660,822	$-168,925	-4.9%

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

$165,000

Total Directors

$165,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS CARTER	President	40.00	Officer Director	$165,000	$0	$165,000
JAMES W DYAS	VP EDU/CURRICULUM	40.00		$139,200	$0	$139,200
MICHELLE M DAY	VP, OPERATIONS	40.00		$136,000	$0	$136,000
KAMIL WALJI	MGR STRAT PTRSHPS	40.00		$100,833	$0	$100,833
HERBIE HANCOCK	INSTITUTE CHAIR	8.00	Officer Director	$0	$0	$0
IRINA BOKOVA	Trustee	3.00	Director	$0	$0	$0
Frank O Gehry	Trustee	3.00	Director	$0	$0	$0
BRETT HART	Trustee	3.00	Director	$0	$0	$0
DEE DEE Bridgewater	Trustee	3.00	Director	$0	$0	$0
Marcus Miller	Trustee	3.00	Director	$0	$0	$0
ROBERT J PILON	Trustee	3.00	Director	$0	$0	$0
JAMES FARMER	Treasurer	5.00	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	$3,563,942	$2,903,120	$3,835,714	$660,822
2022	$2,592,623	$2,761,548	$2,816,334	$-168,925
2021	$2,382,953	$2,473,451	$2,606,776	$-90,498
2020	$2,200,242	$2,188,679	$2,757,347	$11,563
2019	$2,539,059	$3,275,315	$2,451,908	$-736,256

HERBIE HANCOCK INSTITUTE OF JAZZ