Hopewell Music Cooperative-north

Nonprofit profile at a glance

EIN
460547282
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Minneapolis, MN, USA
Phone
6124660696
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities N.E.C.

Official website

Reported finances

Revenue
$323,455
Expenses
$261,715
Assets
$354,360
Liabilities
$87,874

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

Leadership & pay

10 people listed

Executive titles in this filing

  • ALFRED SANDERS (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ALFRED SANDERS (EXECUTIVE DIRECTOR): $40,778 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To empower underserved youth and adult students in north minneapolis through high quality and affordable music education that is accessible to all regardless of age, background, ability, or financial circumstance.

What it reported doing in 2024

Educational programming: our music programming consists of lesson program, ensembles, and early childhood education. We were able to reach nearly 200 students in 2024.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 45
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 54
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 44.5%; rating input score 44
  • Program expense ratio: 54.9%; rating input score 55
  • Fundraising efficiency: $4.27 raised per $1 spent on fundraising; rating input score 19; 19th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 19.1%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 1.35; rating input score 49; 49th percentile among comparable filings
  • Liabilities to assets ratio: 0.25; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 15.6%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 0.8% per year; rating input score 100; 34th percentile among comparable filings
  • Revenue growth: -4% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: 22% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 44.5% of revenue deployed · 54.9% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $144K in reported program spending
  • Leadership: top reported pay $41K · 10 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 44/100.
  • Review — Financial Efficiency: Program expense ratio scored 55/100.
  • High — Financial Efficiency: Fundraising efficiency scored 19/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.