REDTONE RECORDS (EIN 831901032) - 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

2018

Legal Domicile

Principal Officer

JUSTIN PHIPPS

Phone

6509062464

Tax Period

2023-01-01 to 2023-12-31

REDTONE RECORDS, founded in 2018, is a small nonprofit in the Arts, Culture & Humanities sector that reported $396K in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $463K exceeded revenue, resulting in a 17% operating deficit.

Mission

REDTONE RECORDS IS AS A NONPROFIT, COMMUNITY-BASED RECORD LABEL AND RECORDING STUDIO THAT PROVIDES FREE, PROFESSIONAL MUSIC AND VIDEO PRODUCTION TO CULTURAL ARTISTS WITH POSITIVE MESSAGES. WE HAVE A SPECIFIC FOCUS ON PRESERVING AND PROMOTING VARIOUS FORMS OF TRADITIONAL AND ROOTS MUSIC FROM AROUND THE WORLD. ADDITIONALLY WE WILL BE CONDUCTING REGULAR YOUTH SONGWRITING COMPETITIONS, INCENTIVIZING POSITIVE LYRICAL CONTENT FROM YOUNG, ASPIRING, COMMUNITY ARTISTS. OUR ACTIVITIES INCLUDE: IDENTIFYING AND RECRUITING ARTISTS, BOTH LOCALLY AND INTERNATIONALLY; SUBSIDIZING TRAVEL AND LODGING EXPENSES FOR ARTIST RESIDENCIES WHEN APPLICABLE; OPERATING A COMMUNITY-BASED RECORDING STUDIO; PRODUCING MUSIC AND VIDEO; HOSTING AND PROMOTING CONCERTS, FESTIVALS AND SIMILAR ACTIVITIES; PURSUING SONG PLACEMENTS IN TV, FILM, ADVERTISING, ETC.; MARKETING AND PROMOTION OF REDTONE ARTISTS; SUBMITTING REDTONE PRODUCTIONS TO MAJOR ARTISTS FOR POSSIBLE PROGRAM REVENUE TO FUND REDTONE ACTIVITIES. REDTONE'S MISSIO

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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 $192,473

Program Service Revenue $203,423

Investment Income $0

Other Revenue $0

TOTAL REVENUE $395,896

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $14,907

Program Expenses $430,251

Other Expenses $462,812

TOTAL EXPENSES $462,812

Year-over-Year Comparison

	2023	2022	Change
Revenue	$395,896	$342,292	+0.2%
Expenses	$462,812	$367,712	+0.3%
Net Income	$-66,916	$-25,420	+1.6%

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

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

$14,230

Total Directors

$14,230

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JUSTIN PHIPPS	ED/PRES/BOAR	40.00	Officer Director	$14,230	$0	$14,230
CARLOS CABRERA	BOARD/TREAS/	1.00	Officer Director	$0	$0	$0
OLATUNDE SOBOMEHIN	BOARD	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
2024	No data	No data	No data	No data
2023	$395,896	$462,812	$52,974	$-66,916
2022	$342,292	$367,712	$100,402	$-25,420
2021	$301,575	$322,429	$100,047	$-20,854
2019	$153,802	$15,227	$138,575	$138,575

REDTONE RECORDS