Harmundi Foundation Inc

Nonprofit profile at a glance

EIN
831914252
IRS 990-EZ coverage
2023–2024
Forms available
Form 990-EZ 2024, Form 990-N 2022
Location
Rochester, NY, USA
Phone
0000000000
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts Education

Official website

Reported finances

Revenue
$59,124
Expenses
$76,277
Assets
$70,939
Liabilities
$52,900

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

People named in this filing

  • Richard Feldman (Board Chair until August 2024)
  • Gwen Greene (Board Chair beginning August 2024)
  • Charles Owens (Treasurer and 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-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To connect young people from diverse backgrounds and cultures around the world through music

What it reported doing in 2024

Harmundi Foundation conducted its second annual International Music Summit in November 2024 connecfting a diverse group of 80 young people from 27 countries 6 states with an intensive series of workshops cultural exchange and musical collaboration over a three-day weekend The final concert was livestreamed for the benefit of the students families and home countries and other viewers around the world

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 62% for direct work, and 38% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 100
  • Sustainability: 23
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90%; rating input score 90
  • Program expense ratio: 69.7%; rating input score 70

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -29%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 0.93; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 0.75; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 46%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: 27.4% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: -13.7% per year; rating input score 0; 20th percentile among comparable filings
  • Asset growth: 39.7% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 90% of revenue deployed · 69.7% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 2 filed program accomplishments · $53K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 19/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.