RITZ CHAMBER MUSIC SOCIETY 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

2002

Legal Domicile

Principal Officer

TERRANCE PATTERSON

Phone

9044724270

Tax Period

2024-10-01 to 2025-09-30

RITZ CHAMBER MUSIC SOCIETY INC, founded in 2002, is a small nonprofit in the Arts, Culture & Humanities sector that reported $158K in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion.

Mission

THE RITZ CHAMBER MUSIC SOCIETY (RCMS) CELEBRATES THE AFRICAN DIASPORA THROUGH CLASSICAL MUSIC IN WAYS THAT TRANSCEND ALL BARRIERS AND INSPIRE ALL PEOPLE.

Program Service Accomplishments

Program 1

Expenses: $115,673

PRESENT THE MAIN STAGE CONCERT SERIES: A CELEBRATION OF MUSICAL EXCELLENCE AND ARTISTRY - OUR FLAGSHIP CONCERT SERIES REDEFINES CLASSICAL MUSIC FOR THE 21ST CENTURY. EACH PERFORMANCE IS A...

PRESENT THE MAIN STAGE CONCERT SERIES: A CELEBRATION OF MUSICAL EXCELLENCE AND ARTISTRY - OUR FLAGSHIP CONCERT SERIES REDEFINES CLASSICAL MUSIC FOR THE 21ST CENTURY. EACH PERFORMANCE IS A METICULOUSLY CURATED EXPERIENCE THAT BOLDLY CELEBRATES THE RICH LEGACY OF AFRICAN-AMERICAN COMPOSERS WHILE POWERFULLY SHOWCASING TODAY'S MOST DYNAMIC MUSICIANS OF COLOR ALONGSIDE BELOVED CLASSICAL MASTERWORKS. AUDIENCES ARE LEFT CAPTIVATED WHILE EXPANDING THEIR UNDERSTANDING OF CLASSICAL MUSIC'S TRUE DIVERSITY AND TRANSFORMATIVE POWER.

Program 2

EXPAND EDUCATION AND OUTREACH:CULTIVATING TOMORROW'S ARTISTS AND AUDIENCES - RCMS'S COMPREHENSIVE EDUCATIONAL INITIATIVES CREATE LIFE-CHANGING OPPORTUNITIES FOR LEARNERS OF ALL AGES, WITH A SPECIAL FOCUS ON UNDERSERVED COMMUNITIES WHERE ACCESS TO HIGH-QUALITY ARTS EDUCATION IS OFTEN LIMITED. THROUGH STRATEGIC PARTNERSHIPS WITH PUBLIC AND PRIVATE INSTITUTIONS OF LEARNING, RCMS BRINGS WORLD-CLASS MUSICAL EXPERIENCES DIRECTLY INTO CLASSROOMS, PROVIDING PERSONALIZED MENTORSHIP AND ELIMINATING SOCIO- ECONOMIC BARRIERS. CORE COMPONENTS INCLUDE IN-SCHOOL PERFORMANCES, OPEN REHEARSALS, MUSIC MENTOR/TUTOR PROGRAM AND MUSIC ADVANCES PROGRAM.

Program 3

HEALING HARMONIES: ART AND MENTAL WELLBEING - RCMS'S MUSIC INITIATIVE DIRECTLY ADDRESSES SOCIETY'S URGENT MENTAL HEALTH NEEDS, PARTICULARLY THE GROWING EPIDEMIC OF SENIOR LONELINESS, NEGLECT AND...

HEALING HARMONIES: ART AND MENTAL WELLBEING - RCMS'S MUSIC INITIATIVE DIRECTLY ADDRESSES SOCIETY'S URGENT MENTAL HEALTH NEEDS, PARTICULARLY THE GROWING EPIDEMIC OF SENIOR LONELINESS, NEGLECT AND ISOLATION. THROUGH INTIMATE, RESTORATIVE PERFORMANCES IN HEALTHCARE SETTINGS, SENIOR COMMUNITIES, AND SOCIAL SERVICE ORGANIZATIONS, RCMS TRANSFORM CONCERTS INTO LIFELINES OF COMFORT, CONNECTION, AND HOPE. THESE PERFORMANCES ARE HEALING EXPERIENCES THAT PROCLAIM CLASSICAL MUSIC AS A VITAL RESOURCE FOR HEALTH, RESTORATION AND RENEWAL.

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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 $157,806

Program Service Revenue $0

Investment Income $0

Other Revenue $25

TOTAL REVENUE $157,831

Expense Breakdown

Grants Paid $0

Salaries & Benefits $8,951

Fundraising Expenses $0

Program Expenses $115,673

Other Expenses $150,543

TOTAL EXPENSES $159,494

Year-over-Year Comparison

	2024	2023	Change
Revenue	$157,831	$137,599	+0.1%
Expenses	$159,494	$132,975	+0.2%
Net Income	$-1,663	$4,624	-1.4%

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
JEAN AIKENS	SECRETARY	5.00	Officer Director	$0	$0	$0
CLAUDIA BAKER	TRUSTEE	5.00	Director	$0	$0	$0
JUDY BATSON	TRUSTEE	5.00	Director	$0	$0	$0
GREG BOWENS	TRUSTEE	5.00	Director	$0	$0	$0
BRENDA EZELL	BOARD ATTORN	5.00	Officer Director	$0	$0	$0
ANGELA GETTER	TRUSTEE	5.00	Director	$0	$0	$0
HAESUK HEAGNEY	VICE CHAIR	5.00	Officer Director	$0	$0	$0
MAXWELL LEE	TRUSTEE	5.00	Director	$0	$0	$0
KRISTEN PETRILLO MAJDANICS	TRUSTEE	5.00	Director	$0	$0	$0
TERRANCE PATTERSON	PRINCIPAL	5.00	Officer Director	$0	$0	$0
ALLYSON REESE	TRUSTEE	5.00	Director	$0	$0	$0
CONCHITA ROBINSON	CHAIR	5.00	Officer Director	$0	$0	$0
TOUREA ROBINSON	TRUSTEE	5.00	Director	$0	$0	$0
SHAMIKA WRIGHT	TRUSTEE	5.00	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
2025	$157,831	$159,494	$2,150	$-1,663
2024	$137,599	$132,975	$3,813	$4,624
2023	$118,073	$123,601	$4,056	$-5,528
2022	$99,427	$96,675	$10,025	$2,752
2021	$87,919	$76,556	$13,680	$11,363
2020	$78,129	$68,442	$12,473	$9,687
2019	$84,801	$93,602	$9,050	$-8,801
2019	$84,801	$113,697	$9,114	$-28,896
2018	$122,925	$103,949	$17,025	$18,976