THE MUSIC ACADEMY FOUNDATION INC

EIN: 833200894 501(c)(3) Arts, Culture & Humanities

GARDEN CITY, NY

Total Revenue
$598,871
Total Expenses
$559,633
Total Assets
$602,552
Net Assets
$13,479
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2017
Legal Domicile
NY
Tax Period
2023-01-01 to 2023-12-31

THE MUSIC ACADEMY FOUNDATION INC, founded in 2017, is a small nonprofit in the Arts, Culture & Humanities sector that reported $599K in total revenue in fiscal year 2023. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $560K left a modest 7% surplus.

Mission

To promote the musical arts through financial assistance for high-quality music programs in and out of public and private schools, by providing instruments to local school music programs and scholarships to talented music students.

Program Service Accomplishments

Program 1
Expenses: $517,405

Provide music lessons, scholarships, music therapy, theater programs, instruments to under-served schools, fund educational outreach including scholarships and spearhead concert series.

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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 (2023)

Revenue Breakdown

Contributions & Grants $13,640
Program Service Revenue $565,272
Investment Income $17
Other Revenue $19,942
TOTAL REVENUE $598,871

Expense Breakdown

Grants Paid $0
Salaries & Benefits $191,950
Fundraising Expenses $6,272
Program Expenses $517,405
Other Expenses $367,683
TOTAL EXPENSES $559,633

Year-over-Year Comparison

2023 2022 Change
Revenue $598,871 $478,286 +0.3%
Expenses $559,633 $483,458 +0.2%
Net Income $39,238 $-5,172 -8.6%
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

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Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
4
Employees
6
Volunteers
1

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
2
$125,203
Total Directors
6
$125,203
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PETER COCO PRESIDENTEXECUTIVE DIRECTOR 40.00
Officer Director
$104,000 $0 $104,000
DEBORAH COCO TREASURERDIRECTOR 20.00
Officer Director
$21,203 $0 $21,203
MATT WILSON DIRECTOR 5.00
Director
$0 $0 $0
JENNIFER KIGHTLINGER DIRECTOR 5.00
Director
$0 $0 $0
DANIELLE GENOVA DIRECTOR 5.00
Director
$0 $0 $0
GINA DADDARIO DIRECTOR 5.00
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 $598,871 $559,633 $602,552 $39,238
2022 $478,286 $483,458 $630,843 $-5,172
2021 $382,199 $411,874 $17,738 $-29,675
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