The Harps Foundation

Nonprofit profile at a glance

EIN
311657824
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Richmond, VA, USA
Phone
8043537001
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Music Groups, Bands, Ensembles

Official website

Reported finances

Revenue
$209,846
Expenses
$255,575
Assets
$133,678
Liabilities
$16,807

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

Leadership & pay

9 people listed

People named in this filing

  • ANNE BAILEY (CHAIR)
  • DR KIMBERLY CALDWELL (DIRECTOR)
  • LINDA GERMEROTH (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To develop programs and performance opportunities for children & youth, regardless of financial means or disability, utilizing music as a catalyst for personal growth and community service.

What it reported doing in 2024

Acclaimed as "a national cultural treasure" by the u.s. Department of state, the richmond, va - based harps foundation (dba greenspring foundation) founded in 1999, was created as a 501(c)(3) social justice music education and performance-focused organization. Year-round greenspring provides professional music instruction, premier performance ensembles, and innovative therapeutic programming with music-based community outreach for youth with financial need, disabilities and audiences with limited access. Greenspring foundation's educational programming serves students ages 5-18 and includes greenspring international academy of music, the american youth harp ensemble, the Virginia choristers, greenspring chamber ensembles/orchestra, summer institutes, and community outreach.

Operating model

Revenue model
Donor-supported. 91% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 92
  • Accountability: 64
  • Sustainability: 24
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.3%; rating input score 89
  • Program expense ratio: 73.1%; rating input score 73
  • Fundraising efficiency: $7.19 raised per $1 spent on fundraising; rating input score 31; 31st 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: 88.9%; rating input score 89; 24th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • 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: -21.8%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 0.52; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -9.9% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -7.6% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 89.3% of revenue deployed · 73.1% of spending went to programs
  • Governance: 8 of 9 board members independent · 2 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $187K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 31/100.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.