Snohomish County Music Project

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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

1982

Legal Domicile

Principal Officer

COREY MARGOLES

Phone

4252581605

Tax Period

2021-07-01 to 2022-06-30

Snohomish County Music Project, founded in 1982, is a small nonprofit that reported $647K in total revenue in fiscal year 2021. Revenue surged 23% from the prior year, signaling strong growth momentum. The organization ran a surplus of $305K, a strong 47% operating margin.

Mission

To support individual and communal well-being through anti-oppressive and trauma-informed music therapy.

Program Service Accomplishments

Program 1

Expenses: $127,484 Revenue: $135,787

The music project offers music therapy programs to people of all ages, abilities, and circumstances. Most of the programs use a community music therapy model which means that regardless of whether...

The music project offers music therapy programs to people of all ages, abilities, and circumstances. Most of the programs use a community music therapy model which means that regardless of whether we're in institutions or out in the community, we recognize that individual health is tied to communal health. So, if we want individuals to have the best possible and well-being they can, we need healthy families, healthy neighborhoods and health larger communities. In 2021, the organization scaled back its programs while it considered different business models to continue to serve the community.

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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 (2021)

Revenue Breakdown

Contributions & Grants $230,201

Program Service Revenue $37,823

Investment Income $378,808

Other Revenue $0

TOTAL REVENUE $646,832

Expense Breakdown

Grants Paid $0

Salaries & Benefits $178,630

Fundraising Expenses $465

Program Expenses $127,484

Other Expenses $162,875

TOTAL EXPENSES $341,505

Year-over-Year Comparison

	2021	2020	Change
Revenue	$646,832	$526,932	+0.2%
Expenses	$341,505	$576,013	-0.4%
Net Income	$305,327	$-49,081	-7.2%

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

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

Total Directors

$40,067

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROGER PAWLEY	President	10.00	Officer	$0	$0	$0
RYAN CROWTHER	TreasurerSecretary	5.000	Officer	$0	$0	$0
VASHETI QUIROS	Director	15.00	Director	$40,067	$0	$40,067
COREY MARGOLIS	Director	N/A	Director	$0	$0	$0
JACQUE HOLOWATY	Director	N/A	Director	$0	$0	$0
DAVE HANDYSIDE	Director	N/A	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
2022	$646,832	$341,505	$790,092	$305,327
2021	$526,932	$576,013	$228,065	$-49,081
2020	$414,572	$526,137	$590,672	$-111,565
2019	$347,111	$391,642	$489,957	$-44,531
2018	$451,827	$414,802	$521,046	$37,025