HELPING OUR MUSIC EVOLVE 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

2016

Legal Domicile

Principal Officer

Banks Camak III

Phone

6155438863

Tax Period

2024-01-01 to 2024-12-31

HELPING OUR MUSIC EVOLVE INC, founded in 2016, is a small nonprofit in the Community Improvement sector that reported $243K in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. Expenses of $228K left a modest 6% surplus.

Mission

Our mission is to provide a supportive community for artist development and music production. We empower music creators by equipping them with the resources, training, and hands-on experience needed to build successful careers in the music industry.

Program Service Accomplishments

Program 1

During 2023, HOME Members used the facility for a total of 7583 hours of productivity time for recording, rehearsal, songwriting, music industry workshops, pitch meetings, networking mixers, and live performances. Many of our programs were also available online with an average of 3-5 events per month. We had 175 members as of 12/31/23.

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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 $205,780

Program Service Revenue $36,983

Investment Income $21

Other Revenue $0

TOTAL REVENUE $242,784

Expense Breakdown

Grants Paid $0

Salaries & Benefits $26,115

Fundraising Expenses $0

Program Expenses $0

Other Expenses $201,890

TOTAL EXPENSES $228,005

Year-over-Year Comparison

	2024	2023	Change
Revenue	$242,784	$258,998	-0.1%
Expenses	$228,005	$374,392	-0.4%
Net Income	$14,779	$-115,394	-1.1%

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

Total Directors

$25,029

Key Employees

$8,420

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Logan Crowell	Founder	12	Director	$260	$13,430	$13,690
Banks Camak III	President	15	Director Key Emp Highest	$8,420	$0	$8,420
Mary Goines	Secretary & Treasurer	5	Director	$2,919	$0	$2,919
Brian Sexton	Board Member	2	Director	$0	$0	$0
Nathan Adam	Board Member	2	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	$242,784	$228,005	$151,441	$14,779
2023	$258,998	$374,392	$141,784	$-115,394
2022	$268,529	$391,826	$278,266	$-123,297
2021	$322,488	$355,166	$226,024	$-32,678
2019	$216,501	$227,157	$154,960	$-10,656