PROJECT MUSIC 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

2014

Legal Domicile

Principal Officer

JOYCE DICAMILLO

Phone

2035391733

Tax Period

2024-07-01 to 2025-06-30

PROJECT MUSIC INC, founded in 2014, is a small nonprofit in the Education sector that reported $480K in total revenue in fiscal year 2024. Revenue surged 40% from the prior year, signaling strong growth momentum. The organization ran a surplus of $97K, a strong 20% operating margin.

Mission

PROJECT MUSIC ADVANCES THE CRITICAL LIFE SKILLS OF STAMFORD YOUTH THROUGH FREE MUSIC EDUCATION, FREE INSTRUMENTS, MENTORING AND PERFORMANCE OPPORTUNITIES. THE PROGRAM IS PROVIDED AT NO COST TO STUDENTS MOST IN NEED OF ACCESS, INSPIRATION AND OPPORTUNITY. PROJECT MUSIC IS AN AFTER-SCHOOL MUSIC PROGRAM DESIGNED TO CREATE SOCIAL CHANGE AND NURTURE PROMISING FUTURES FOR YOUTH IN STAMFORD, CT CITY NEIGHBORHOODS, WHERE 90%+ OF STUDENT PARTICIPANTS ARE ELIGIBLE FOR FREE OR REDUCED-PRICE LUNCH IN SCHOOL. INSPIRED BY THE EL SISTEMA MOVEMENT, PROJECT MUSIC SERVES STUDENTS FOUR AFTERNOONS EACH WEEK, PROVIDING AN INTENSIVE AFTER-SCHOOL MUSICAL ENVIRONMENT FOR THEM AS WELL AS DEEP RELATIONSHIPS WITH THEIR MUSICAL ENSEMBLE AND TEACHERS.

Program Service Accomplishments

Program 1

Expenses: $321,281 Revenue: $1,100

PROJECT MUSIC HAS MAINTAINED A STEADY ANNUAL GROWTH AT OUR KING SITE, OFFERING OVER 10,000 HOURS OF INSTRUCTION. WE ARE IN THE PROCESS OF FINALIZING A PARTNERSHIP WITH THE BOYS AND GIRLS CLUB OF...

PROJECT MUSIC HAS MAINTAINED A STEADY ANNUAL GROWTH AT OUR KING SITE, OFFERING OVER 10,000 HOURS OF INSTRUCTION. WE ARE IN THE PROCESS OF FINALIZING A PARTNERSHIP WITH THE BOYS AND GIRLS CLUB OF STAMFORD WHICH WILL ALLOW US TO ADDRESS OUR GROWING WAITLIST AND PROVIDE SERVICES TO 50+ MORE STUDENTS. OUR STUDENTS CONTINUE TO PERFORM IN OUR PROGRAM AND IN THE STAMFORD COMMUNITY, RAISING AWARENESS FOR OUR PROGRAM AND RECEIVING VALUABLE PUBLIC-FACING PERFORMANCE OPPORTUNITIES. OUR ORGANIZATION PARTNERED WITH THE MAYOR'S YOUTH EMPLOYMENT PROGRAM AND WELCOMED A SUMMER INTERN IN ADDITION TO OUR INTERNAL LEARN & EARN PROGRAM.AS A PART OF OUR WHOLE-CHILD MODEL, WE'VE MAINTAINED OUR PROVISION OF TRANSPORTATION TO OUR KING SITE, CONTINUED TO OFFER MEAL-REPLACEMENT SNACKS, AND OFFERED ACADEMIC TUTORING. OUR ADVANCED STUDENTS HAD THE OPPORTUNITY TO ATTEND INTENSIVE MUSIC CAMPS ACROSS NEW YORK, CONNECTICUT, MAIN, COSTA RICA, BALTIMORE, AND MORE!WE'VE EXPANDED OUR COMMUNITY PARTNERSHIPS, NOW TOTALING OVER 30 THAT ENABLE OUR WORK AND HELP US SERVE THE COMMUNITY. STUDENTS ENROLLED IN OUR PROGRAM HAIL FROM 26 DIFFERENT SCHOOLS ACROSS FAIRFIELD COUNTY.

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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 $419,493

Program Service Revenue $1,100

Investment Income $57

Other Revenue $59,438

TOTAL REVENUE $480,088

Expense Breakdown

Grants Paid $2,690

Salaries & Benefits $333,361

Fundraising Expenses $26,645

Program Expenses $321,281

Other Expenses $47,018

TOTAL EXPENSES $383,069

Year-over-Year Comparison

	2024	2023	Change
Revenue	$480,088	$343,747	+0.4%
Expenses	$383,069	$371,180	+0.0%
Net Income	$97,019	$-27,433	-4.5%

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
JOYCE DICAMILLO	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
PETER COMPO	VICE CHAIR	1.00	Officer Director	$0	$0	$0
ADAM ADELKOPF	TREASURER	1.00	Officer Director	$0	$0	$0
LAUREN TATE	SECRETARY	1.00	Officer Director	$0	$0	$0
MEG AKABAS	BOARD MEMBER	1.00	Director	$0	$0	$0
NIDIA LOPEZ	BOARD MEMBER	1.00	Director	$0	$0	$0
GABRIELLA MARTINEZ	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL COONEY	BOARD MEMBER	1.00	Director	$0	$0	$0
ETHAN SCHWARTZ	BOARD MEMBER	1.00	Director	$0	$0	$0
SHIVANI CHITALIA	FORMER TREASURER	1.00	Director	$0	$0	$0
OLGA VIAKHIREVA	FORMER BOARD MEMBER	1.00	Director	$0	$0	$0
MODULE DOWNER	FORMER BOARD MEMBER	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
2025	$480,088	$383,069	$197,913	$97,019
2024	$343,747	$371,180	$98,829	$-27,433
2023	$302,839	$277,105	$178,835	$25,734
2022	$342,200	$265,716	$115,043	$76,484
2021	$284,213	$313,378	$86,979	$-29,165
2019	$230,937	$220,437	$85,194	$10,500