Virginia Chamber Music Foundation … - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year

2000

Legal Domicile

Principal Officer

LINDA C MONAHAN

Phone

4342955395

Tax Period

2023-01-01 to 2023-12-31

Virginia Chamber Music Foundation Charlottesville Chamber Music Festival, founded in 2000, is a small nonprofit in the Arts, Culture & Humanities sector that reported $249K in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year. Expenses of $225K left a modest 10% surplus.

Mission

To increase the understanding, appreciation and enjoyment of chamber music in Virginia and beyond, through presentation of annual Festival and other concerts, outreach events and educational programs.

Program Service Accomplishments

Program 1

Expenses: $160,000 Revenue: $43,764

Presented the 24th Annual Charlottesville Chamber Music Festival with 10 live events in 11 days, including 4 series concerts in historic Paramount Theater and U. of Virginia's Old Cabell Hall, one...

Presented the 24th Annual Charlottesville Chamber Music Festival with 10 live events in 11 days, including 4 series concerts in historic Paramount Theater and U. of Virginia's Old Cabell Hall, one collaborative event with Virginia Symphony Orchestra (see below), 2 special events showcasing artists at 2nd Street Gallery in downtown Charlottesville and at a local rural vineyard, plus 2 Free community programs (see below) and one public school concert. Programming incorporated traditional and newer repertoire. The 22 participating artists included musicians of international acclaim and a number of emerging talents. Pandemic recovery continued with growing audience.

Program 2

Expenses: $35,000

Presented 3 Free outreach events benefiting different constituencies: All events were performed by internationally acclaimed musicians. - Free Community Concert at historic Paramount Theater and -...

Presented 3 Free outreach events benefiting different constituencies: All events were performed by internationally acclaimed musicians. - Free Community Concert at historic Paramount Theater and - Free Midday Concert at historic church near downtown. Printed programs with notes were provided to both audiences. - Free school program in collaboration with the Fine Arts Coordinator for Charlottesville Public Schools, for all the school system's 8th Grade students at city's Buford Middle School. Several of the artists had strong arts education experience and response was very positive. Also presented a dress rehearsal at a local senior community. Overall, approximately 880 served at the 4 events.

Program 3

Expenses: $9,500

Collaborated with Virginia Symphony Orchestra and The Paramount Theater of Charlottesville to present a concert featuring Festival solo artists in Beethoven's Triple Concerto, and the Reich duet for...

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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 $199,417

Program Service Revenue $43,764

Investment Income $3,814

Other Revenue $2,500

TOTAL REVENUE $249,495

Expense Breakdown

Grants Paid $0

Salaries & Benefits $83,013

Fundraising Expenses $15,469

Program Expenses $204,500

Other Expenses $142,144

TOTAL EXPENSES $225,157

Year-over-Year Comparison

	2023	2022	Change
Revenue	$249,495	$283,502	-0.1%
Expenses	$225,157	$177,822	+0.3%
Net Income	$24,338	$105,680	-0.8%

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

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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

$12,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LINDA C MONAHAN	Chair	4.000	Officer Director	$0	$0	$0
TERRY E GRANT	Secretary	4.000	Officer Director	$0	$0	$0
ELSIE W THOMPSON	Treasurer	4.000	Officer Director	$0	$0	$0
RAPHAEL BELL	coArtistic Director	5.000	Director	$5,500	$0	$5,500
J TIMOTHY SUMMERS	coArtistic Director	8.000	Director	$6,500	$0	$6,500

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	$249,495	$225,157	$377,107	$24,338
2022	$283,502	$177,822	$352,309	$105,680
2021	$217,219	$182,414	$245,079	$34,805
2020	$149,522	$80,857	$213,498	$68,665

Virginia Chamber Music Foundation Charlottesville Chamber Music Festival