CONCORDIA CONSERVATORY 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

KATHLEEN SUSS

Phone

9143954507

Tax Period

2024-01-01 to 2024-08-31

CONCORDIA CONSERVATORY INC, founded in 2021, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.2M in total revenue in fiscal year 2024. Revenue fell 50% from the prior year — a significant decline worth monitoring. Expenses of $1.4M exceeded revenue, resulting in a 21% operating deficit.

Mission

THE CONSERVATORY'S MISSION IS TO INSPIRE, INSTRUCT AND ENRICH LIVES THROUGH MUSIC OFFERING EXCELLENCE IN EDUCATION AND PERFORMANCE.

Program Service Accomplishments

Program 1

Expenses: $1,103,459 Revenue: $857,658

1) MUSIC EDUCATION: STAFFED WITH HIGHLY ACCOMPLISHED FACULTY OF TEACHING AND PERFORMING ARTISTS, OFFERINGS INCLUDE PRIVATE MUSIC INSTRUCTION IN ALL INSTRUMENTS INCLUDING VOICE, GROUP AND CHAMBER...

1) MUSIC EDUCATION: STAFFED WITH HIGHLY ACCOMPLISHED FACULTY OF TEACHING AND PERFORMING ARTISTS, OFFERINGS INCLUDE PRIVATE MUSIC INSTRUCTION IN ALL INSTRUMENTS INCLUDING VOICE, GROUP AND CHAMBER MUSIC, MUSIC THEORY, EAR-TRAINING, COMPOSITION AND SONG WRITING, MUSIC AND ART THERAPY, MUSICAL THEATRE CLASSES, AN ANNUAL TUITION FREE HOLIDAY MUSICAL THEATRE PRODUCTION, EARLY CHILDHOOD MUSIC CLASSES, AND SUMMER CAMPS, CONCERT SERIES AND AN HONORS ACADEMY (PRE-COLLEGE) PROGRAM. CONCORDIA CONSERVATORY'S EXEMPLARY PROGRAMS EMBRACE VITALITY AND THE DEVELOPMENT OF ARTISTRY AT EVERY AGE, PHASE, AND LEVEL AND ARE DEDICATED TO HELPING EACH STUDENT REALIZE HIS OR HER FULL POTENTIAL. THE DIVERSE FACULTY OF 40 AND STUDENT POPULATION ENROLLMENT OF 1,000 STUDENTS OF ALL AGES REPRESENT OVER 20 COUNTRIES. 2) THE CONSERVATORY BRINGS MUSICAL PEFORMANCE TO ENRICH THE COMMUNITY'S CULTURAL LIFE. COMMUNITY PROGRAMS INCLUDE THE HOCH CHAMBER MUSIC SERIES, THE CONSERVATORY'S ANNUAL TUITION FREE HOLIDAY COMMUNITY MUSICAL, MORE THAN MUSIC FACULTY SERIES, THE UNIQUE SERIES FOR SPECIAL LEARNERS AND THE MUSICAL ADVENTURES FAMILY SERIES.3) THE CONSERVATORY ADMINISTERS SCHOLARSHIP AND MUSIC OUTREACH IN THE COMMUNITY TO VARIOUS POPULATIONS IN THE COMMUNITIES OF WHICH THEY SERVE. UNDERSERVED YOUTH AND EARLY CHILDHOOD PROGRAMS, TO INDIVIDUAL SCHOLARSHIP PROGRAMS FOR STUDENTSWITH FINANCIAL NEED.

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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 $222,875

Program Service Revenue $857,658

Investment Income $69,682

Other Revenue $6,694

TOTAL REVENUE $1,156,909

Expense Breakdown

Grants Paid $50,793

Salaries & Benefits $820,162

Fundraising Expenses $56,764

Program Expenses $1,103,459

Other Expenses $533,513

TOTAL EXPENSES $1,404,468

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,156,909	$2,302,806	-0.5%
Expenses	$1,404,468	$2,347,318	-0.4%
Net Income	$-247,559	$-44,512	+4.6%

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

160

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
KATHLEEN SUSS	PRESIDENT/EXECUTIVE DIRECT	40.00	Officer Director	$0	$0	$0
MELINDA MAGNANI	SECRETARY	40.00	Officer Director	$0	$0	$0
RUBY HWANG	TREASURER	1.00	Officer Director	$0	$0	$0
CAROLYN MORIARTY	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
HARRIS HWANG	DIRECTOR	1.00	Director	$0	$0	$0
MIRTHA KASTRAPELI	DIRECTOR	1.00	Director	$0	$0	$0
KAREN KNAPP	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN TOOLAN	DIRECTOR	1.00	Director	$0	$0	$0
ERIN SEUFFERT	DIRECTOR	1.00	Director	$0	$0	$0
RATI BAGAI	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER CEBENOYAN	DIRECTOR	1.00	Director	$0	$0	$0
CEM CEBENOYAN	DIRECTOR	1.00	Director	$0	$0	$0
CLARE HOFFMAN	DIRECTOR	1.00	Director	$0	$0	$0
JOVANA LEKOVICH	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER MONDIDO	DIRECTOR	1.00	Director	$0	$0	$0
RYAN MOTT	DIRECTOR	1.00	Director	$0	$0	$0
KAREN LYONS VASQUEZ	DIRECTOR	1.00	Director	$0	$0	$0
YOKO GINGERY	DIRECTOR (THROUGH 5/24)	1.00	Director	$0	$0	$0
REBECCA JONES	DIRECTOR (THROUGH 5/24)	1.00	Director	$0	$0	$0
GEORGE LEKOVIC	DIRECTOR (THROUGH 5/24)	1.00	Director	$0	$0	$0
LAUREL SLAUGHTER	DIRECTOR (THROUGH 5/24)	1.00	Director	$0	$0	$0
MONICA THURMOND	DIRECTOR (THROUGH 5/24)	1.00	Director	$0	$0	$0
TOM DORDEVIC	DIRECTOR (THROUGH 5/24)	1.00	Director	$0	$0	$0
JEFF ROHR	DIRECTOR (THROUGH 5/24)	1.00	Director	$0	$0	$0
EMLYN TRAVERAS	DIRECTOR (THROUGH 5/24)	1.00	Director	$0	$0	$0
BILJANA DORDEVIC	DIRECTOR (THROUGH 5/24)	1.00	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	$1,156,909	$1,404,468	$3,804,694	$-247,559
2023	$2,302,806	$2,347,318	$4,239,020	$-44,512
2022	$1,971,421	$2,163,960	$3,936,400	$-192,539
2021	$1,235,385	$746,034	$3,838,969	$489,351