Harpsichord Unlimited Inc

Nonprofit profile at a glance

EIN
133122105
IRS 990 coverage
2012–2022
Forms available
Form 990 2022
Location
New York, NY, USA
Phone
2122801086
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$9,615
Expenses
$10,124
Assets
$80
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

1 person listed

People named in this filing

  • ELAINE COMPARONE (DIRECTOR)

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 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To educate the public about the harpsichord, its history and its music.

What it reported doing in 2022

Perform musical concerts to enhance the understanding and enjoyment of the art of playing the harpsichord. An audience of approximately 1,250,000 has benefited from our live performances and youtube videos..

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% 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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 42
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.1%; rating input score 67
  • Program expense ratio: 63.7%; rating input score 64
  • Fundraising efficiency: Limited

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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -5.3%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 0.01; rating input score 5; 5th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 10.8% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: -0.3% per year; rating input score 0; 62nd percentile among comparable filings
  • Asset growth: -2.4% per year; rating input score 0; 29th percentile among comparable filings

Details

  • Where the money goes: 67.1% of revenue deployed · 63.7% of spending went to programs
  • Governance: 1 of 1 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $6K in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 9 filing years from 2012 to 2022
  • 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: Governance controls: 5 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 5/100.
  • Review — Sustainability: Operating margin scored 54/100.
  • High — Growth: Asset growth scored 0/100.