OPUS ITHACA SCHOOL OF MUSIC

EIN: 900760945 501(c)(3) Arts, Culture & Humanities

ITHACA, NY

Total Revenue
$829,475
Total Expenses
$788,059
Total Assets
$228,242
Net Assets
$222,841
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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
2011
Legal Domicile
NY
Principal Officer
ANDREA MERRILL
Phone
6072278135
Tax Period
2024-09-01 to 2025-08-31

OPUS ITHACA SCHOOL OF MUSIC, founded in 2011, is a small nonprofit in the Arts, Culture & Humanities sector that reported $829K in total revenue in fiscal year 2024. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $788K left a modest 5% surplus.

Mission

SEE BELOW.

Program Service Accomplishments

Program 1
Expenses: $658,937 Revenue: $705,587

PROMOTE QUALITY MUSIC INSTRUCTION TO THE ENTIRE COMMUNITY REGARDLESS OF INCOME, RACE OR EXPERIENCE.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $122,392
Program Service Revenue $705,587
Investment Income $0
Other Revenue $1,496
TOTAL REVENUE $829,475

Expense Breakdown

Grants Paid $0
Salaries & Benefits $217,390
Fundraising Expenses $0
Program Expenses $658,937
Other Expenses $570,669
TOTAL EXPENSES $788,059

Year-over-Year Comparison

2024 2023 Change
Revenue $829,475 $666,904 +0.2%
Expenses $788,059 $701,317 +0.1%
Net Income $41,416 $-34,413 -2.2%
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

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Governance

Voting Members
6
Independent Members
5
Employees
5
Volunteers
25

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
5
$82,400
Total Directors
7
$82,400
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANDREA MERRILL SCHOOL EXECUTIVE DIRECTOR 40.00
Officer Director
$82,400 $0 $82,400
LINDSAY FRANCE VICE PRESIDENT 0.50
Officer Director
$0 $0 $0
JOE KACZOROWSKI TREASURER 0.50
Officer Director
$0 $0 $0
ART OSTRANDER PRESIDENT 0.50
Officer Director
$0 $0 $0
VIOLA MONAGHAN SECRETARY 0.50
Director
$0 $0 $0
SUSAN VAN SICKLE SECRETARY 0.50
Officer Director
$0 $0 $0
ELENA FLASH VOTING MEMBER 0.50
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
2025 $829,475 $788,059 $228,242 $41,416
2024 $666,904 $701,317 $185,287 $-34,413
2023 $737,301 $666,272 $218,268 $71,029
2022 $624,876 $565,894 $147,996 $58,982
2021 $512,201 $520,756 $87,312 $-8,555
2020 $520,089 $461,654 $98,033 $58,435
2019 $433,028 $416,489 $38,414 $16,539
2018 $340,743 $335,026 $20,780 $5,717
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