IRIS MUSIC PROJECT

EIN: 834042952 501(c)(3) Arts, Culture & Humanities

COLUMBIA, MD

Total Revenue
$663,113
Total Expenses
$683,582
Total Assets
$212,058
Net Assets
$212,058
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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
2019
Legal Domicile
MD
Phone
4109002073
Tax Period
2025-01-01 to 2025-12-31

IRIS MUSIC PROJECT, founded in 2019, is a small nonprofit in the Arts, Culture & Humanities sector that reported $663K in total revenue in fiscal year 2025. Revenue grew 13% year-over-year, indicating healthy expansion.

Mission

IRIS MUSIC PROJECT REIMAGINES RESIDENTIAL AND HEALTHCARE COMMUNITIES AS SPACES OF CREATIVE EXCHANGE. THROUGH COLLABORATIVELY DESIGNED PROGRAMMING, IRIS MUSIC PROJECT PROVIDES OPPORTUNITIES FOR CONNECTION AND PURPOSE FOR RESIDENTS, CAREGIVERS, AND MUSICIANS.

Program Service Accomplishments

Program 1
Expenses: $671,774 Revenue: $312,970

IRIS MUSIC PROJECT REIMAGINES RESIDENTIAL AND HEALTHCARE COMMUNITIES AS SPACES OF CREATIVE EXCHANGE. THROUGH COLLABORATIVELY DESIGNED PROGRAMMING, IRIS MUSIC PROJECT PROVIDES OPPORTUNITIES FOR...

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IRIS MUSIC PROJECT REIMAGINES RESIDENTIAL AND HEALTHCARE COMMUNITIES AS SPACES OF CREATIVE EXCHANGE. THROUGH COLLABORATIVELY DESIGNED PROGRAMMING, IRIS MUSIC PROJECT PROVIDES OPPORTUNITIES FOR CONNECTION AND PURPOSE FOR RESIDENTS, CAREGIVERS, AND MUSICIANS.

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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 (2025)

Revenue Breakdown

Contributions & Grants $350,143
Program Service Revenue $308,198
Investment Income $4,772
Other Revenue $0
TOTAL REVENUE $663,113

Expense Breakdown

Grants Paid $0
Salaries & Benefits $361,229
Fundraising Expenses $10,000
Program Expenses $671,774
Other Expenses $312,353
TOTAL EXPENSES $683,582

Year-over-Year Comparison

2025 2024 Change
Revenue $663,113 $588,378 +0.1%
Expenses $683,582 $554,741 +0.2%
Net Income $-20,469 $33,637 -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

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Governance

Voting Members
10
Independent Members
N/A
Employees
4
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
$0
Total Directors
6
$73,848
Key Employees
1
$73,848
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LAUREN LATESSA EXECUTIVE DIRECTOR 40.00
Director Key Emp
$73,848 $0 $73,848
GARY VIKAN BOARD MEMBER 2.00
Director
$0 $0 $0
DERYN DUDLEY BOARD MEMBER 2.00
Director
$0 $0 $0
BARBARA CORNMAN BOARD MEMBER 2.00
Director
$0 $0 $0
AARON LEVINE BOARD MEMBER 2.00
Director
$0 $0 $0
MARLA PHILLIPS BOARD MEMBER 2.00
Director
$0 $0 $0
LORI RAPHAEL CO-CHAIR 6.00
Officer
$0 $0 $0
SOL GLASNER CO-CHAIR 6.00
Officer
$0 $0 $0
MICHAEL WALLSH BOARD TREASURER 6.00
Officer
$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 $663,113 $683,582 $212,058 $-20,469
2024 No data No data No data No data
2023 $461,813 $334,709 $143,827 $127,104
2022 $261,160 $213,885 $70,986 $47,275
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