SEQUIM CITY BAND

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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

2001

Legal Domicile

Phone

3604606480

Tax Period

2023-01-01 to 2023-12-31

SEQUIM CITY BAND, founded in 2001, is a small nonprofit in the Arts, Culture & Humanities sector that reported $904K in total revenue in fiscal year 2023. Revenue surged 150% from the prior year, signaling strong growth momentum. Expenses of $874K left a modest 3% surplus.

Mission

To perform preserve and promote concert band music

Program Service Accomplishments

Program 1

Expenses: $15,557 Revenue: $36,069

Full Band performed eight public free concerts plus two reduced size concerts and five small ensemble presentations

Program 2

Expenses: $831,642 Revenue: $0

Band built an expanded rehearsal hall to accommodate growing band membership

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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 (2023)

Revenue Breakdown

Contributions & Grants $903,783

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $903,783

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $7,998

Program Expenses $847,199

Other Expenses $872,881

TOTAL EXPENSES $874,188

Year-over-Year Comparison

	2023	2022	Change
Revenue	$903,783	$361,732	+1.5%
Expenses	$874,188	$577,780	+0.5%
Net Income	$29,595	$-216,048	-1.1%

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

112

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
Mark Wick	President Board of Directors	5.00	Officer	$0	$0	$0
Debra Soderstrom	Vice President Board of Directors	20.00	Officer	$0	$0	$0
Steven Shepherd	Secretary	4.00	Officer	$0	$0	$0
David Proebstel	Treasurer	20.00	Officer	$0	$0	$0
Craig Knutsen	Board of Directors	1.00	Director	$0	$0	$0
Jim Bradbury	Board of Directors	1.00	Director	$0	$0	$0
Tom Hartig	Board of Directors	1.00	Director	$0	$0	$0
Mike Flynn	Board of Directors	1.00	Director	$0	$0	$0
Megan Sanger	Board of Directors	1.00	Director	$0	$0	$0
Cheryl Montgomery	Board of Directors	1.00	Director	$0	$0	$0
Brock Tejeda	Board of Directors	1.00	Director	$0	$0	$0
Swen Fetterman	Board of Directors	1.00	Director	$0	$0	$0
Brian Palmer	Board of Directors	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
2023	$903,783	$874,188	$-2,987	$29,595
2022	$361,732	$577,780	$298,067	$-216,048
2021	$343,807	$46,963	$511,627	$296,844