Salt Lake Academy of Music (EIN 843257116) - 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

Alicia Wrigley

Phone

8015772263

Tax Period

2024-01-01 to 2024-12-31

Salt Lake Academy of Music, founded in 2019, is a small nonprofit in the Arts, Culture & Humanities sector that reported $369K in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

To provide accessible, experiential music education and performance opportunities that help youth and adults develop musical skills, confidence, and community through collaborative learning.

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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 (2024)

Revenue Breakdown

Contributions & Grants $104,846

Program Service Revenue $264,224

Investment Income $15

Other Revenue $0

TOTAL REVENUE $369,085

Expense Breakdown

Grants Paid $0

Salaries & Benefits $132,771

Fundraising Expenses $16,951

Program Expenses $295,271

Other Expenses $231,882

TOTAL EXPENSES $365,511

Year-over-Year Comparison

	2024	2023	Change
Revenue	$369,085	$341,610	+0.1%
Expenses	$365,511	$351,061	+0.0%
Net Income	$3,574	$-9,451	-1.4%

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

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

$61,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Steven Auerbach	Executive Dir.	40.00	Officer	$61,000	$0	$61,000
Damon Rottermond	Chairman	5.00	Officer Director	$0	$0	$0
Jessica O'Dell	Secretary	5.00	Officer Director	$0	$0	$0
Michael Feldman	Treasurer	5.00	Officer Director	$0	$0	$0
Cory Deagle	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	$369,085	$365,511	$16,998	$3,574
2023	$341,610	$351,061	$15,396	$-9,451
2022	$328,519	$315,303	$23,548	$13,216

Salt Lake Academy of Music