SAVE OUR MUSICIANS FOUNDATION INC

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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

2021

Legal Domicile

Principal Officer

DENNIS CUNNINGHAM

Phone

5616778961

Tax Period

2023-01-01 to 2023-12-31

SAVE OUR MUSICIANS FOUNDATION INC, founded in 2021, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $23.3M in total revenue in fiscal year 2023. Revenue surged 16099970% from the prior year, signaling strong growth momentum. The organization ran a surplus of $6.8M, a strong 29% operating margin.

Mission

THE SAVE OUR MUSICIANS FOUNDATION (SOMF) IS A PASSIONATE 501(C)(3) NON-PROFIT DEDICATED TO EMPOWERING THE INDEPENDENT MUSICIAN. THE ORGANIZATION WAS INITIALLY FOUNDED IN 2021 WITH THE GOAL OF HELPING MUSICIANS THROUGH A CHALLENGING POST-PANDEMIC PERIOD WHERE OPPORTUNITIES TO BOOK LIVE GIGS BECAME VIRTUALLY NON-EXISTENT. OUR MISSION HAS SINCE EVOLVED TO A MORE COMPREHENSIVE APPROACH TOWARDS ADDRESSING THE CHALLENGES FACED BY ASPIRING INDEPENDENT MUSICIANS. WHILE THE CORE OF OUR NON-PROFIT ACTIVITIES CENTER AROUND SHOWCASING TALENT THROUGH LIVE GIGS AND PERFORMANCE OPPORTUNITIES, WE ALSO PROVIDE A WHOLISTIC APPROACH TOWARDS THE VARIOUS FACETS OF ARTIST DEVELOPMENT AND FOSTER GROWTH AT EVERY STAGE OF A MUSICIAN'S CAREER. WE BELIEVE MUSIC IS A TRANSFORMATIVE FORCE THAT UNITES COMMUNITIES AND IGNITES POSITIVE CHANGE. BY FOSTERING A SUPPORTIVE ECOSYSTEM, WE CULTIVATE ARTISTIC GROWTH, PROPEL CAREERS, AND CHAMPION THE FUTURE OF MUSIC.

Program Service Accomplishments

Program 1

Expenses: $11,729,702 Revenue: $595,103

SHOWCASING TALENT, BUILDING AUDIENCESOUR FLAGSHIP PROGRAM, THE SAVE OUR MUSICIANS FOUNDATION'S PRIVATE CONCERT SERIES, HELD IN CONJUNCTION WITH AIRTAB'S OPEN FOR AN ICON COMPETITION, TRANSFORMS...

SHOWCASING TALENT, BUILDING AUDIENCESOUR FLAGSHIP PROGRAM, THE SAVE OUR MUSICIANS FOUNDATION'S PRIVATE CONCERT SERIES, HELD IN CONJUNCTION WITH AIRTAB'S OPEN FOR AN ICON COMPETITION, TRANSFORMS UNDISCOVERED TALENT INTO RISING STARS. BY PAIRING A HIGH-STAKES COMPETITION WITH EXCLUSIVE PERFORMANCE OPPORTUNITIES ALONGSIDE ESTABLISHED ARTISTS, WE CREATE A DYNAMIC PLATFORM FOR ARTIST DISCOVERY. ALL PARTICIPANTS IN THE PROGRAM CAN INSTANTLY EXPAND THEIR FANBASE, WHILE WINNERS GAIN ACCESS TO UNPARALLELED EXPOSURE, INDUSTRY CREDIBILITY, AND THE EXPERIENCE OF A LIFETIME.

Program 2

Expenses: $1,184,963

NURTURING ARTISTIC GROWTH AND ARTIST DEVELOPMENTSOMF'S ARTIST DEVELOPMENT INITIATIVES OFFER PERSONALIZED MENTORSHIP, WORKSHOPS, AND CAREER COACHING. OUR INDUSTRY VETERANS PROVIDE INVALUABLE GUIDANCE ON SONGWRITING, PRODUCTION, BRANDING, AND BUSINESS ACUMEN. BY EQUIPPING ARTISTS WITH ESSENTIAL SKILLS AND KNOWLEDGE, WE HELP THEM BUILD SUSTAINABLE MUSIC CAREERS.

Program 3

INVESTING IN THE MUSIC COMMUNITYBEYOND INDIVIDUAL ARTIST SUPPORT, SOMF IS COMMITTED TO CULTIVATING A VIBRANT MUSIC LANDSCAPE. WE PROVIDE FINANCIAL SUPPORT TO ORGANIZATIONS THAT SHARE OUR MISSION OF MUSIC EDUCATION AND ACCESSIBILITY. THROUGH STRATEGIC PARTNERSHIPS AND DONATIONS TO OTHER NON-PROFITS WE ENSURE THAT FUTURE GENERATIONS HAVE THE OPPORTUNITY TO EXPLORE THEIR MUSICAL PASSIONS.

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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 $22,609,900

Program Service Revenue $595,103

Investment Income $140,098

Other Revenue $0

TOTAL REVENUE $23,345,101

Expense Breakdown

Grants Paid $630,000

Salaries & Benefits $0

Fundraising Expenses $3,087,151

Program Expenses $12,914,665

Other Expenses $15,877,925

TOTAL EXPENSES $16,507,925

Year-over-Year Comparison

	2023	2022	Change
Revenue	$23,345,101	$145	+160999.7%
Expenses	$16,507,925	$8,532	+1933.8%
Net Income	$6,837,176	$-8,387	-816.2%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DENNIS CUNNINGHAM	PRESIDENT/CEO	1.00	Officer Director	$0	$0	$0
FELICIA CUNNINGHAM	TREASURER	1.00	Officer Director	$0	$0	$0
CHRISTIAN DEMERS	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
BERNIE CARBALLO	SECRETARY	1.00	Officer Director	$0	$0	$0
ROBERT SAMUELS	VICE PRESIDENT	1.00	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
2024	No data	No data	No data	No data
2023	$23,345,101	$16,507,925	$10,100,260	$6,837,176