MUSICS PROMISE INC (EIN 871288977) - 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

GREG PLAGE

Phone

7183952077

Tax Period

2024-01-01 to 2024-12-31

MUSICS PROMISE INC, founded in 2022, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.3M in total revenue in fiscal year 2024. Revenue surged 124% from the prior year, signaling strong growth momentum. Expenses of $1.1M left a modest 15% surplus.

Mission

MUSIC'S PROMISE IS THE MUSIC INDUSTRY'S SOCIAL RESPONSIBILITY PROGRAM. WE PROVIDE RESOURCES THAT EMPOWER ARTISTS, MUSIC COMPANIES, VENUES AND EXECUTIVES TO USE THEIR INFLUENCE TO SUPPORT THEIR FAVORITE CAUSES.

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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 $809,563

Program Service Revenue $0

Investment Income $0

Other Revenue $532,323

TOTAL REVENUE $1,341,886

Expense Breakdown

Grants Paid $914,891

Salaries & Benefits $164,124

Fundraising Expenses $0

Program Expenses $914,891

Other Expenses $65,195

TOTAL EXPENSES $1,144,210

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,341,886	$598,422	+1.2%
Expenses	$1,144,210	$496,311	+1.3%
Net Income	$197,676	$102,111	+0.9%

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

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

$150,000

Total Directors

$150,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GREG PLAGE	PRESIDENT	40.00	Officer Director	$150,000	$0	$150,000
MEREDITH CROY	DIRECTOR	5.00	Director	$0	$0	$0
JP EVANGELISTA	DIRECTOR	5.00	Director	$0	$0	$0
JEREMY HOLGERSEN	DIRECTOR	5.00	Director	$0	$0	$0
MIKE MORI	DIRECTOR	5.00	Director	$0	$0	$0
RICH SCHAEFER	DIRECTOR	5.00	Director	$0	$0	$0
DAN SHULMAN	SECRETARY/GENERAL COUNSEL	20.00	Officer	$0	$0	$0
BUTCH GAGE	TREASURER	20.00	Officer	$0	$0	$0
SANDRA RICHARDS	VICE CHAIRWOMAN	20.00	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	$1,341,886	$1,144,210	$303,812	$197,676
2023	$598,422	$496,311	$106,136	$102,111
2022	$384,147	$361,624	$4,025	$22,523

MUSICS PROMISE INC