Southwest Florida Music Education Center Inc (EIN 842825241) - 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

2019

Legal Domicile

Principal Officer

Jerry Starkey

Tax Period

2023-01-01 to 2023-12-31

Southwest Florida Music Education Center Inc, founded in 2019, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.1M in total revenue in fiscal year 2023. Revenue fell 85% from the prior year — a significant decline worth monitoring. Expenses of $2.6M exceeded revenue, resulting in a 124% operating deficit.

Mission

Create a world-class music education center where neurodivergent students who have a strong interest in music and low to moderate support needs receive education in music and life skills, preparing them for meaningful growth opportunities that enrich their lives & the community.

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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 $156,622

Program Service Revenue $117,700

Investment Income $44,764

Other Revenue $824,380

TOTAL REVENUE $1,143,466

Expense Breakdown

Grants Paid $0

Salaries & Benefits $271,319

Fundraising Expenses $39,904

Program Expenses $2,215,387

Other Expenses $2,286,736

TOTAL EXPENSES $2,558,055

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,143,466	$7,490,658	-0.8%
Expenses	$2,558,055	$1,167,447	+1.2%
Net Income	$-1,414,589	$6,323,211	-1.2%

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

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

$91,287

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jennifer Clark	Executive Director	40.00	Officer	$91,287	$0	$91,287
Susan Stielow	Director	1.00	Director	$0	$0	$0
Rose Marie Van Otterloo	Director	1.00	Director	$0	$0	$0
Jerry Starkey	TreasurerDirector	10.00	Officer 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
2023	$1,143,466	$2,558,055	$15,108,862	$-1,414,589
2022	$7,490,658	$1,167,447	$16,338,113	$6,323,211
2021	$544,488	$179,487	$445,468	$365,001

Southwest Florida Music Education Center Inc