Indianapolis Music Cooperative

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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

Richard Floyd

Tax Period

2024-01-01 to 2024-12-31

Indianapolis Music Cooperative, founded in 2022, is a small nonprofit that reported $129K in total revenue in fiscal year 2024. Expenses of $184K exceeded revenue, resulting in a 43% operating deficit.

Mission

We are a vibrant hub of creativity and community transformation. Our mission is to empower youth musicians and creatives through the universal language of music offering them an avenue to explore their talents inspired by Indianapolis rich musical heritage and todays innovative spirit. Proudly serving our community as a 501c3 nonprofit organization.

Program Service Accomplishments

Program 1

Expenses: $0 Revenue: $38,000

Our one-day workshops provide a practical introduction to Digital Media Audio Engineering Composition and Instrument Instruction. They serve as a valuable addition to conventional music education by offering students a more comprehensive view of music and arts as well as exposing them to potential career paths in these creative fields. Participants engage in hands-on activities to deepen their understanding and skills in these areas fostering a well-rounded artistic education that can inspire and empower aspiring musicians and artists.

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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 $78,000

Program Service Revenue $49,000

Investment Income $0

Other Revenue $2,000

TOTAL REVENUE $129,000

Expense Breakdown

Grants Paid $0

Salaries & Benefits $42,440

Fundraising Expenses $6,800

Program Expenses $0

Other Expenses $141,640

TOTAL EXPENSES $184,080

Year-over-Year Comparison

	2024	2023	Change
Revenue	$129,000	N/A	N/A
Expenses	$184,080	N/A	N/A
Net Income	$-55,080	N/A	N/A

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
Ed McClung	Director of Operations	30.00	Key Emp	$0	$0	$0
Tyesha Clark	Director of Development	30.00	Key Emp	$0	$0	$0
Kevin Deardorff	Director of Community Engagement	30.00	Key Emp	$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	$129,000	$184,080	$98,000	$-55,080