Freshgrass Public Foundation

What it reported doing in 2024

Program Service Accomplishments (continued from Form 990 Page 2)I. Folk Alley Program Accomplishmentsthe finest newest releases by contemporary artists. Folk Alleys monthly audience across all music channels ranged from 81,413 to 62,429, with an average monthly audience of 69,000 reaching 216 countries/territories across the globe. In addition to the internet radio service, Folk Alley also produced a weekly 2-hour syndicated terrestrial radio show that is carried by 63 public and community radio stations across the United States. Website:--------FolkAlley.com is the home for additional and complementary content that supports the internet radio music streams and weekly terrestrial radio show. It includes album reviews, song and video premieres, special artists interviews and features, exclusive in-studio video sessions, and the bi-monthly podcast, Why We Write hosted by acclaimed folk music journalist and author, Kim Ruehl. On average each month 21,620 individuals visit FolkAlley.com to explore and enjoy all its offerings. Visitors from 199 countries/territories spent time on FolkAlley.com. Listener-Supported/Donors:--------------------------As a service dedicated to celebrating and keeping folk and roots music available for everyone to discover and enjoy, Folk Alley and our robust content on FolkAlley.com are offered to the folk music loving community free of charge. Folk Alley is funded by individual donations ranging from $5 to $30,000.II. No Depression Program Accomplishmentsjournal excerpts online or subscribing and supporting independent music journalism! Historically, No Depression has published long-form, reported features on a variety of topics.III. FreshGrass Music Festivals Program AccomplishmentsIt is our belief that the simple acts of making and sharing authentic creations are among the most effective ways to spread joy and love, to improve lives and communities, and to make a profoundly positive impact on the world. To achieve our mission, we produce FreshGrass Festivals in North Adams, MA and Bentonville, AR; we offer a variety of grants, commissions, and awards to musicians and writers for new works; we produce and publish No Depression, the quarterly journal of roots music; we produce, publish and stream Folk Alley, the 24-hour online listening for roots music; we are a founding partner of Artists At Work, a program that provides living wages for living artists; we administer the Steve Martin Banjo Prize, a prestigious award founded by Steve Martin (actor/comedian) that recognizes an individual or group for outstanding accomplishment in banjo; and we operate and manage Studio 9 in North Adams, MA, a state-of-the-art recording studio and venue. Through a cutting-edge, multidisciplinary and collaborative approach, FreshGrass continually strives to help promote new artists and create new art through each of its entities. Currently, FreshGrass holds two Festivals each year! One at MASS MoCA in North Adams, Massachusetts and the other at The Momentary in Bentonville, Arkansas! Visit our website freshgrass.com for more info and updates. FreshGrass always features a diverse lineup encompassing the best in acoustic music from traditional masters and iconic trailblazers to musical discoveries. Past performers include Brandi Carlile, Alison Brown, Bela Fleck and Del McCoury.

Financial Efficiency

• Mission deployment rate: 93.3%; rating input score 93
• Program expense ratio: 92.3%; rating input score 92
• Fundraising efficiency: $105.15 raised per $1 spent on fundraising; rating input score 87; 87th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 33.3%; rating input score 33; 7th percentile among comparable filings
• Governance controls: 7 of 7 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -1%; rating input score 30; 30th percentile among comparable filings
• Total-asset coverage ratio: 0.44; rating input score 15; 15th percentile among comparable filings
• Liabilities to assets ratio: 0.07; rating input score 65; 65th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

• Program expense growth: 29.1% per year; rating input score 100; 92nd percentile among comparable filings
• Revenue growth: 26.1% per year; rating input score 100; 92nd percentile among comparable filings
• Asset growth: -8.6% per year; rating input score 0; 2nd percentile among comparable filings