SACRAMENTO PREPARATORY MUSIC ACADEMY

EIN: 810754644 501(c)(3) Arts, Culture & Humanities

FOLSOM, CA

Total Revenue
$234,926
Total Expenses
$263,603
Total Assets
$70,887
Net Assets
$-446,715
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
CA
Principal Officer
BENJAMIN H MCCLARA
Phone
9163822770
Tax Period
2022-07-01 to 2023-06-30

SACRAMENTO PREPARATORY MUSIC ACADEMY, founded in 2016, is a small nonprofit in the Arts, Culture & Humanities sector that reported $235K in total revenue in fiscal year 2022. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $264K exceeded revenue, resulting in a 12% operating deficit.

Mission

TO SUPPORT AND ADVANCE ACCESS TO LIFELONG LEARNING OPPORTUNITIES IN MUSIC ARTS EDUCATION. TO CREATE AN ENVIRONMENT WHERE STUDENTS AND PERFORMING ARTISTS CAN MEET FOR THE STUDY OF MUSIC ARTS EDUCATION, PERFORMANCE AND RELATED ART FORMS. TO PRESENT PUBLIC PERFORMANCES AND RECITALS OF MUSIC TO THE COMMUNITY.

Program Service Accomplishments

Program 1
Expenses: $85,069 Revenue: $49,341

SERVED 350+ STUDENTS IN LOCAL SCHOOLS THROUGH OUR MUSIC IN SCHOOLS, GUITAR PROJECT. PROVIDED SCHOLARSHIPS FOR 22 YEAR-ROUND, OUTSTANDING STUDENTS IN OUR GUITAR PROJECT ENSEMBLE.

Program 2
Expenses: $129,681 Revenue: $136,126

OUR BEATLES GUITAR PROJECT TOURED AND PERFORMED THE FOLLOWING CONCERTS DURING THIS FISCAL YEAR: A RUBBER SOUL/REVOLVER CONCERT, A SGT PEPPERS/MYSTERY TOUR CONCERT, AND A HARD DAYS NIGHT/HELP CONCERT...

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OUR BEATLES GUITAR PROJECT TOURED AND PERFORMED THE FOLLOWING CONCERTS DURING THIS FISCAL YEAR: A RUBBER SOUL/REVOLVER CONCERT, A SGT PEPPERS/MYSTERY TOUR CONCERT, AND A HARD DAYS NIGHT/HELP CONCERT. THIS PROJECT SUPPORTS PROFESSIONAL MUSICIANS IN SACRAMENTO AND CONNECTS WITH AUDIENCES IN NORTHERN CALIFORNIA, WHILE PROVIDING PERFORMANCE OPPORTUNITIES TO STUDENTS IN THE PROGRAM. IN ADDITION, STUDENTS PERFORMED AT MANY FARMERS MARKET GATHERINGS IN SACRAMENTO AND SEVERAL OUTINGS TO SENIOR CITIZEN CENTERS.

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $49,459
Program Service Revenue $172,503
Investment Income $12,964
Other Revenue $0
TOTAL REVENUE $234,926

Expense Breakdown

Grants Paid $0
Salaries & Benefits $77,790
Fundraising Expenses $30,382
Program Expenses $214,750
Other Expenses $185,813
TOTAL EXPENSES $263,603

Year-over-Year Comparison

2022 2021 Change
Revenue $234,926 $299,299 -0.2%
Expenses $263,603 $678,425 -0.6%
Net Income $-28,677 $-379,126 -0.9%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
5
Independent Members
4
Employees
4
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
3
$52,000
Total Directors
5
$52,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BENJAMIN MCCLARA CEO 40.00
Officer Director
$52,000 $0 $52,000
MELINDA BANISTER TREASURER 2.00
Officer Director
$0 $0 $0
PETER PETTY SECRETARY 2.00
Officer Director
$0 $0 $0
JEFF COX DIRECTOR 1.00
Director
$0 $0 $0
JEWELYN WILLIAMS DIRECTOR 1.00
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
2023 $234,926 $263,603 $70,887 $-28,677
2022 $299,299 $678,425 $91,474 $-379,126
2020 $314,702 $308,501 $16,161 $6,201
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