Friends of the Halstead Inc

Nonprofit profile at a glance

EIN
862430710
IRS 990 coverage
2021–2025
Forms available
Form 990 2025
Location
Fairhope, AL, USA
Phone
2518950071
Rating
54
Verdict
MIXED
Rating confidence
Moderate
Sector
Music

Reported finances

Revenue
$722,799
Expenses
$799,510
Assets
$140,888
Liabilities
$4,946

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • CHESLEY ALLEGRI (PRESIDENT)

People named in this filing

  • CHESLEY ALLEGRI (PRESIDENT)
  • ANDY LUDECKE (VICE CHAIRMAN)
  • MANDY BEZEREDI (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See response part 1, line 1 and continued on schedule 0

What it reported doing in 2025

The organization also awards the jacob hall memorial musical grant which is intended to provide access to musicalresources for aspiring musicians. Examples of potentially qualifying needs include money for instruments, equipment, music lessons, cost of music camps or recitals, music tuition or music books. A third party vendor invoice is required detailing the price of the musical need and the grant is paid directly to the third party vendor. Applicants for the grant must supply references and grants are limited to no more than $2,000 per issuance. The grant is funded through a portion of the ticket sales from the seasonal concert series run by the organization. Grants are issued twice a calendar year and recipients are chosen by the friends of the halstead. The grant is advertised on the website of the concert series, www.liveatfivefairhope.com. Approximately 20% of the organization's time is spent administering this grant. The grant furthers the organization's exempt purpose by helping to meet the musical needs of musicians in the community.

Operating model

Revenue model
Earned-program. 82% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 96% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 66
  • Accountability: 12
  • Sustainability: 23
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.3%; rating input score 74
  • Program expense ratio: 67.3%; rating input score 67
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 15th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 25.1%; rating input score 25; 30th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 6th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -10.6%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 0.18; rating input score 9; 9th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 47; 47th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 26.5% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: 29.7% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 36.9% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 74.3% of revenue deployed · 67.3% of spending went to programs
  • Governance: 0 of 9 board members independent · 2 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $538K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 5 filing years from 2021 to 2025
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 25/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 12/100.
  • High — Sustainability: Total-asset coverage ratio scored 9/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 47/100.