THE ACADEMY OF MUSIC

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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

1996

Legal Domicile

Principal Officer

JOHN DIXON

Phone

7576270967

Tax Period

2024-09-01 to 2025-08-31

THE ACADEMY OF MUSIC, founded in 1996, is a community nonprofit in the Education sector that reported $1.1M in total revenue in fiscal year 2024. Revenue surged 35% from the prior year, signaling strong growth momentum. The organization ran a surplus of $260K, a strong 25% operating margin.

Mission

TO BRING THE JOYS AND BENEFITS OF LEARNING MUSIC TO THE RESIDENTS OF HAMPTON ROADS REGARDLESS OF ABILITY TO PAY.

Program Service Accomplishments

Program 1

Expenses: $582,035

INSTRUCTION: THE ACADEMY PROVIDES INDIVIDUAL INSTRUCTION TO CHILDREN AND ADULTS THROUGH ONE-ON-ONE LESSONS, MOSTLY USING SPACE IN LOCAL CHURCHES. IN THE LAST SCHOOL YEAR, OUR FACULTY TAUGHT SOME...

INSTRUCTION: THE ACADEMY PROVIDES INDIVIDUAL INSTRUCTION TO CHILDREN AND ADULTS THROUGH ONE-ON-ONE LESSONS, MOSTLY USING SPACE IN LOCAL CHURCHES. IN THE LAST SCHOOL YEAR, OUR FACULTY TAUGHT SOME 7,500 HOURS OF PRIVATE LESSONS. 3,000 HOURS (OR ABOUT 40%) WERE PROVIDED FREE OF CHARGE, AS WE AWARDED OVER 175,000 IN SCHOLARSHIPS, SHARED BETWEEN ONE IN EVERY THREE STUDENTS HAVING PRIVATE LESSONS.

Program 2

Expenses: $94,755

OUTREACH: OUR OUTREACH PROGRAMS ARE FUNDED BY GRANTS AND DONATIONS AND REACH GROUPS IN OUR COMMUNITY THAT COULD NOT OTHERWISE HOPE TO ENJOY HIGH-LEVEL MUSIC INSTRUCTION. OUR TWO MAJOR OUTREACH...

OUTREACH: OUR OUTREACH PROGRAMS ARE FUNDED BY GRANTS AND DONATIONS AND REACH GROUPS IN OUR COMMUNITY THAT COULD NOT OTHERWISE HOPE TO ENJOY HIGH-LEVEL MUSIC INSTRUCTION. OUR TWO MAJOR OUTREACH PROGRAMS THIS YEAR, WE HAD OUR "HAPRS ON FIRE" PROGRAM IN PARTNERSHIP WITH NORFOLK PUBLIC SCHOOLS, AND OUR AFTER-SCHOOL PIANO PROGRAM AT IMPACT CHURCH IN CHESAPEAKE, REACHING A TOTAL OF 50 STUDENTS.

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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 $795,970

Program Service Revenue $244,693

Investment Income $11,168

Other Revenue $0

TOTAL REVENUE $1,051,831

Expense Breakdown

Grants Paid $0

Salaries & Benefits $667,816

Fundraising Expenses $33,713

Program Expenses $676,790

Other Expenses $124,489

TOTAL EXPENSES $792,305

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,051,831	$777,995	+0.4%
Expenses	$792,305	$649,906	+0.2%
Net Income	$259,526	$128,089	+1.0%

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

$120,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STANLEY GOLD	PRESIDENT	2.00	Officer Director	$0	$0	$0
HAL BARGE	VICE PRESIDE	2.00	Officer Director	$0	$0	$0
BRIAN KINT	TREASURER	2.00	Officer Director	$0	$0	$0
JILL KEIFER	SECRETARY	2.00	Officer Director	$0	$0	$0
SONNY DEUELL	DIRECTOR	1.00	Director	$0	$0	$0
JANE CANNONE	DIRECTOR	1.00	Director	$0	$0	$0
B J GRIFFIN	DIRECTOR	1.00	Director	$0	$0	$0
STACY APELT	DIRECTOR	1.00	Director	$0	$0	$0
DANIELLE ROBY	DIRECTOR	1.00	Director	$0	$0	$0
DAVID SNOUFFER	DIRECTOR	1.00	Director	$0	$0	$0
SANDRA JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
PATRICIA RUBLEIN	DIRECTOR	1.00	Director	$0	$0	$0
JOHN DIXON	EXECUTIVE DI	40.00	Officer	$120,000	$0	$120,000

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	$1,051,831	$792,305	$2,491,654	$259,526
2024	$777,995	$649,904	$2,072,924	$128,091
2023	$672,723	$660,891	$1,823,934	$11,832
2022	$638,807	$641,084	$1,805,965	$-2,277
2021	$649,266	$584,167	$1,831,518	$65,099
2020	$620,917	$562,647	$1,383,363	$58,270
2019	$701,275	$595,685	$1,297,643	$105,590