LYRICS FOR LIFE FOUNDATION INC (EIN 593757395) - 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

2001

Legal Domicile

Principal Officer

TIM BOGLE

Phone

7066723929

Tax Period

2023-01-01 to 2023-12-31

LYRICS FOR LIFE FOUNDATION INC, founded in 2001, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $361K in total revenue in fiscal year 2023. Revenue grew 19% year-over-year, indicating healthy expansion. Expenses of $445K exceeded revenue, resulting in a 23% operating deficit.

Mission

THE FOUNDATION WAS FORMED SOLELY TO (A) ORGANIZE AND PRESENT MUSICAL FUNDRAISING EVENTS FOR SOLICITATION OF CHARITABLE CONTRIBUTIONS; (B) RECEIVE, MANAGE, UTILIZE AND INVEST SAID CHARITABLE CONTRIBUTIONS; AND (C) DISTRIBUTE THE CHARITABLE CONTRIBUTIONS, INCLUDING ANY INCOME RELATED THERETO, TO CERTAIN ORGANIZATIONS QUALIFIED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE THAT EITHER (1) FUND OR PERFORM RESEARCH TO ERADICATE SERIOUS ILLNESSES THAT AFFECT CHILDREN OR (2) AID CHILD VICTIMS SUFFERING FROM SERIOUS ILLNESSES, AS WELL AS THEIR FAMILIES.

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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 $29,313

Program Service Revenue $0

Investment Income $0

Other Revenue $331,928

TOTAL REVENUE $361,241

Expense Breakdown

Grants Paid $413,880

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $413,880

Other Expenses $31,391

TOTAL EXPENSES $445,271

Year-over-Year Comparison

	2023	2022	Change
Revenue	$361,241	$304,128	+0.2%
Expenses	$445,271	$255,293	+0.7%
Net Income	$-84,030	$48,835	-2.7%

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

N/A

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
KEN BLOCK	PRESIDENT, CHAIRMAN	1.00	Officer	$0	$0	$0
JOEL COBDEN	VICE-PRESIDENT, VICE-CHAIR	1.00	Officer	$0	$0	$0
TIM BOGLE	TREASURER, SECRETARY	1.00	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	No data	No data	No data	No data
2023	$361,241	$445,271	$36,938	$-84,030
2022	$304,128	$255,293	$120,968	$48,835
2021	$43,931	$12,813	$72,133	$31,118
2020	$41,056	$31,753	$41,015	$9,303
2019	$273,463	$280,165	$31,712	$-6,702
2018	$233,857	$243,096	$38,414	$-9,239

LYRICS FOR LIFE FOUNDATION INC