NEW HEART MUSIC MINISTRIES (EIN 752687547) - 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

1997

Legal Domicile

Principal Officer

YENN-CHWEN ER

Phone

2815680831

Tax Period

2023-01-01 to 2023-12-31

NEW HEART MUSIC MINISTRIES, founded in 1997, is a small nonprofit in the Religion sector that reported $707K in total revenue in fiscal year 2023. Net assets of $2.0M represent 33 months of operating reserves.

Mission

RELIGIOUS/EDUCATIONAL PURPOSES

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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 $535,415

Program Service Revenue $162,723

Investment Income $79

Other Revenue $9,094

TOTAL REVENUE $707,311

Expense Breakdown

Grants Paid $0

Salaries & Benefits $519,477

Fundraising Expenses $0

Program Expenses $289,785

Other Expenses $209,197

TOTAL EXPENSES $728,674

Year-over-Year Comparison

	2023	2022	Change
Revenue	$707,311	$690,957	+0.0%
Expenses	$728,674	$634,564	+0.1%
Net Income	$-21,363	$56,393	-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

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

$126,783

Total Directors

$126,783

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EPHRAIM CHENG	CHAIRMAN	40.00	Officer Director	$79,957	$0	$79,957
YENN-CHWEN ER	PRESIDENT	40.00	Officer Director	$46,826	$0	$46,826
REV BRIAN LAM	BOARD MEMBER	0.25	Director	$0	$0	$0
ROY CHEN	BOARD MEMBER	0.25	Director	$0	$0	$0
TSUNG-YING YEH	BOARD MEMBER	0.50	Director	$0	$0	$0
SZE-HAU LOH	BOARD MEMBER	0.25	Director	$0	$0	$0
TZE-PING LIU	CONTROLLER	0.50	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
2024	No data	No data	No data	No data
2023	$707,311	$728,674	$1,971,381	$-21,363
2022	$690,957	$634,564	$1,992,481	$56,393
2021	$852,912	$412,735	$1,936,036	$440,177
2020	$554,833	$543,835	$1,579,259	$10,998
2019	$631,884	$632,195	$1,485,634	$-311

NEW HEART MUSIC MINISTRIES