The Folk Project

Nonprofit profile at a glance

EIN
222249977
IRS 990-EZ coverage
2012–2024
Forms available
Form 990-EZ 2024, Form 990-N 2020
Location
Morristown, NJ, USA
Phone
9732195976
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Performing Arts Organizations

Reported finances

Revenue
$155,976
Expenses
$157,270
Assets
$228,419
Liabilities
$10,266

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

Leadership & pay

11 people listed

Executive titles in this filing

  • ELIZABETH LACHOWICZ (PRESIDENT)
  • PAUL FISHER (VICE PRESIDENT)

People named in this filing

  • ELIZABETH LACHOWICZ (PRESIDENT)
  • PAUL FISHER (VICE PRESIDENT)
  • MARGARET KARR (TREASURER)

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

Promote live folk music, dance, workshops, and festivals

What it reported doing in 2024

1 weekend long festivals featuring concerts dance and workshops 75 attendees

Operating model

Revenue model
Earned-program. 79% of the money available for current operations came from fees and other program revenue.
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

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: 94
  • Transparency & Controls: 82
  • Sustainability: 47
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.9%; rating input score 98
  • Program expense ratio: 86.8%; rating input score 87

Transparency & Controls

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

Sustainability

  • Operating margin: -0.8%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 1.45; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: 0.4% per year; rating input score 100; 31st percentile among comparable filings
  • Revenue growth: -0.3% per year; rating input score 0; 20th percentile among comparable filings
  • Asset growth: 4.7% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 97.9% of revenue deployed · 86.8% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 4 filed program accomplishments · $136K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 9 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.