THE SPK ACADEMY OF MUSIC INC (EIN 834641257) - 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

2022

Legal Domicile

Principal Officer

SEEMA GULATI

Phone

4803295672

Tax Period

2023-01-01 to 2023-12-31

THE SPK ACADEMY OF MUSIC INC, founded in 2022, is a small nonprofit in the Arts, Culture & Humanities sector that reported $241K in total revenue in fiscal year 2023. Expenses of $217K left a modest 10% surplus.

Mission

TO ADVANCE THE KNOWLEDGE, PRACTICE, AND PRESERVATION OF INDIAN CLASSICAL MUSIC WORLDWIDE THROUGH THE TRADITIONS OF THE SITAR. SECURE A SUSTAINABLE FUTURE FOR SPK ACADEMY TO SHARE THE KNOWLEDGE OF INDIAN CLASSICAL MUSIC WORLDWIDWIDE THROUGH THE TEACHINGS OF THE SEVENTH-GENERATION SITAR MAESTRO USTAD SHAHID PARVEZ KHAN.

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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 $93,242

Program Service Revenue $134,955

Investment Income $0

Other Revenue $13,016

TOTAL REVENUE $241,213

Expense Breakdown

Grants Paid $0

Salaries & Benefits $26,000

Fundraising Expenses $10,943

Program Expenses $182,880

Other Expenses $191,225

TOTAL EXPENSES $217,225

Year-over-Year Comparison

	2023	2022	Change
Revenue	$241,213	N/A	N/A
Expenses	$217,225	N/A	N/A
Net Income	$23,988	N/A	N/A

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

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

$49,350

Total Directors

$26,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SEEMA GULATI	DIRECTOR	50.00	Officer Director	$26,000	$0	$26,000
RITU GUPTA	BUSI. OPERAT	35.00	Officer	$23,350	$0	$23,350
ADAM AFSHAR	CHIEF LEGAL	1.00	Officer	$0	$0	$0
NOUMAN KHAN	SECRETARY	2.00	Officer	$0	$0	$0
NIKHIL MAHAJAN	TREASURER	10.00	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
2024	No data	No data	No data	No data
2023	$241,213	$217,225	$44,343	$23,988

THE SPK ACADEMY OF MUSIC INC