FRIENDS OF OKLAHOMA MUSIC INC

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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

1998

Legal Domicile

Phone

9186870800

Tax Period

2024-01-01 to 2024-12-31

FRIENDS OF OKLAHOMA MUSIC INC, founded in 1998, is a small nonprofit in the Arts, Culture & Humanities sector that reported $348K in total revenue in fiscal year 2024. Revenue surged 134% from the prior year, signaling strong growth momentum. Expenses of $462K exceeded revenue, resulting in a 33% operating deficit.

Mission

PROMOTE AND RECOGNIZE THE CONTRIBUTIONS PROMINENT OKLAHOMA MUSICIANS HAVE MADE TOWARD MUSIC, MUSIC EDUCATION AND THE ARTS.

Program Service Accomplishments

Program 1

THE ORGANIZATION SHOWCASES ARTISTIC AND MUSICAL TALENT THAT HAS ROOTS IN OKLAHOMA

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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 (2024)

Revenue Breakdown

Contributions & Grants $340,208

Program Service Revenue $0

Investment Income $3,555

Other Revenue $4,274

TOTAL REVENUE $348,037

Expense Breakdown

Grants Paid $0

Salaries & Benefits $114,657

Fundraising Expenses $163,862

Other Expenses $347,129

TOTAL EXPENSES $461,786

Year-over-Year Comparison

	2024	2023	Change
Revenue	$348,037	$148,687	+1.3%
Expenses	$461,786	$227,500	+1.0%
Net Income	$-113,749	$-78,813	+0.4%

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

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
JIM HALSEY	EX OFFICIO	0.00	Director	$0	$0	$0
HUGH FOLEY	EX OFFICIO	0.00	Director	$0	$0	$0
MARJORIE SZABO	EX OFFICIO	0.00	Director	$0	$0	$0
JEFFREY JONES	DIRECTOR	0.00	Director	$0	$0	$0
BRIAN MAUGHAN	DIRECTOR	0.00	Director	$0	$0	$0
JOHNNY WINKLE	DIRECTOR	0.00	Director	$0	$0	$0
ANN B ONG	DIRECTOR	0.00	Director	$0	$0	$0
TONY WINTERS	DIRECTOR	0.00	Director	$0	$0	$0
DAVID WEBB	DIRECTOR	0.00	Director	$0	$0	$0
BRETT FITZGERALD	DIRECTOR	0.00	Director	$0	$0	$0
KIM WILLIAMS	DIRECTOR	0.00	Director	$0	$0	$0
JORDAN KELLEY	DIRECTOR	0.00	Director	$0	$0	$0
BILL GRIGGS	DIRECTOR	0.00	Director	$0	$0	$0
TAMMY HOWELL	DIRECTOR	0.00	Director	$0	$0	$0
ANGELA WILSON	DIRECTOR	0.00	Director	$0	$0	$0
EVELYN HIBBS	SECRETARY	0.00	Officer Director	$0	$0	$0
JAMIE STOUT	PRESIDENT	0.00	Officer	$0	$0	$0
BOONE MENDENHALL	VP	0.00	Officer	$0	$0	$0
TONY CORBELL	EXECUTIVE DIRECTOR	20.00	Officer	$0	$0	$0
MEGAN HERRIMAN	VP	0.00	Officer	$0	$0	$0
JOHN HAYS	TREASURER	0.00	Officer	$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	$348,037	$461,786	$142,730	$-113,749
2023	$148,687	$227,500	$249,151	$-78,813
2022	$306,791	$287,755	$329,822	$19,036
2021	$324,222	$115,024	$499,562	$209,198
2020	$94,569	$67,243	$285,210	$27,326
2019	$901,864	$69,851	$256,185	$832,013
2018	$314,045	$326,316	$218,771	$-12,271