The Primavera Fund

What it reported doing in 2024

Each primavera artist is expected to participate in several aspects of early musical education. All students take weekly private lessons from a qualified instructor, sometimes that is an independent teacher (contractor) and sometimes that will be with a teacher at a music school to which we pay tuition. Students also participate in large and small music ensemble activities and there are many local youth orchestra, chamber music and chamber orchestra opportunities which we subsidize for our students. To supplement their musical education some students also advance in composition and theory, sometimes with a private instructor and sometimes at a school. Students also participate in music education programs during the summer months, usually a camp or festival. Costs for these are usually tuition and fees, as well as travel related expenses. In addition to underwriting the above student experiences, the primavera fund also offers group and individual support in the areas of instrumental advancement, career readiness, as well as college preparedness and selection processes. Students also take advantage of seminars and clinics by invited practitioners, some of which are geared toward alumni, who no longer receive financial support from the primavera fund, but who can still use our staff as a consulting resource. On an individual level, students play juries three times per season, and their progress is also tracked through reports from their private teachers. They consult with the primavera directors on their progress, direction and ambitions, and during their junior and senior years receive guidance on the college applications and audition process. We also cover fees and travel expenses for the college visit process. Students also work with the primavera fund staff to seek out competitions or conferences that may further their musical education. Supplies, sheet music and equipment are approved and purchased by the primavera fund staff.

Financial Efficiency

• Mission deployment rate: 92.7%; rating input score 93
• Program expense ratio: 90.7%; rating input score 91
• Fundraising efficiency: $21.46 raised per $1 spent on fundraising; rating input score 60; 60th percentile among comparable filings

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: 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: 7 of 8 controls in place; rating input score 88
  • 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: Pass
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: -2.2%; rating input score 30; 30th percentile among comparable filings
• Total-asset coverage ratio: 0.11; rating input score 5; 5th percentile among comparable filings
• Liabilities to assets ratio: 0.19; rating input score 33; 33rd percentile among comparable filings
• Officer compensation ratio: 13.2%; rating input score 27; 27th percentile among comparable filings

Growth

• Program expense growth: 12.2% per year; rating input score 100; 69th percentile among comparable filings
• Revenue growth: 4.5% per year; rating input score 100; 40th percentile among comparable filings
• Asset growth: 23.9% per year; rating input score 100; 86th percentile among comparable filings