ELITE MUSIC COMPETITION CORP

EIN: 815259602 501(c)(3) Arts, Culture & Humanities

EAST HANOVER, NJ

Total Revenue
$385,466
Total Expenses
$380,614
Total Assets
$435,905
Net Assets
$238,246
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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
2017
Legal Domicile
NJ
Principal Officer
ALLA IOVEL
Phone
9735990221
Tax Period
2024-01-01 to 2024-12-31

ELITE MUSIC COMPETITION CORP, founded in 2017, is a small nonprofit in the Arts, Culture & Humanities sector that reported $385K in total revenue in fiscal year 2024.

Mission

MUSIC COMPETITION PROMOTION

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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 (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $385,466
Investment Income $0
Other Revenue $0
TOTAL REVENUE $385,466

Expense Breakdown

Grants Paid $0
Salaries & Benefits $203,861
Fundraising Expenses $0
Program Expenses $380,614
Other Expenses $176,753
TOTAL EXPENSES $380,614

Year-over-Year Comparison

2024 2023 Change
Revenue $385,466 $387,439 0.0%
Expenses $380,614 $382,575 0.0%
Net Income $4,852 $4,864 0.0%
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

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Governance

Voting Members
3
Independent Members
N/A
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
3
$188,820
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ALLA IOVEL PRESIDENT 30
Officer
$62,940 $0 $62,940
LEV IOVEL VP 30
Officer
$62,940 $0 $62,940
ALEK IOVEL VP 25
Officer
$62,940 $0 $62,940
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 $385,466 $380,614 $435,905 $4,852
2023 $387,439 $382,575 $503,796 $4,864
2022 $162,542 $164,210 $448,530 $-1,668
2022 $382,542 $164,210 $448,530 $218,332
2021 $199,559 $75,105 $230,198 $124,454
2020 $120,299 $123,308 $105,744 $-3,009
2019 $312,903 $149,119 $236,752 $163,784
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