American Harp Society Inc

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1962

Legal Domicile

Principal Officer

Chilali Hugo

Phone

8054104277

Tax Period

2024-07-01 to 2025-06-30

American Harp Society Inc, founded in 1962, is a small nonprofit in the Arts, Culture & Humanities sector that reported $272K in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. Net assets of $645K represent 28 months of operating reserves.

Mission

The mission of the American Harp Society Inc. is to celebrate our legacy, inspire excellence and empower the next generation of harpists.

Program Service Accomplishments

Program 1

Expenses: $32,740 Revenue: $0

Activities and resources to support and benefit members, including chapter membership, access to instrument insurance discounts, membership and teacher directories, online professional resources, and...

Program 2

Expenses: $45,633 Revenue: $23,108

The promotion of the harp as a musical instrument through publication of the American Harp Journal, as well as American Harp Societys website and other communications.

Program 3

Expenses: $95,886 Revenue: $18,385

Sponsorship of harp competitions and educational opportunities at various levels, and presentation of national conferences and summer institutes.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $203,583

Program Service Revenue $41,493

Investment Income $24,319

Other Revenue $2,746

TOTAL REVENUE $272,141

Expense Breakdown

Grants Paid $2,200

Salaries & Benefits $65,994

Fundraising Expenses $0

Program Expenses $174,259

Other Expenses $230,640

TOTAL EXPENSES $298,834

Year-over-Year Comparison

	2024	2023	Change
Revenue	$272,141	$290,870	-0.1%
Expenses	$298,834	$337,540	-0.1%
Net Income	$-26,693	$-46,670	-0.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

$65,400

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Kathryn McManus	Executive Director	40.00	Director	$61,500	$3,900	$65,400
Kela Walton	Director at Large	1.00	Director	$0	$0	$0
Hope Cowan	Director, South Central Region	2.00	Director	$0	$0	$0
Jennifer Ellis	Director, Pacific Region	2.00	Director	$0	$0	$0
Karen Gottlieb	Director at Large	1.00	Director	$0	$0	$0
Joan Holland	Director, Mid-Central Region	2.00	Director	$0	$0	$0
Charles Lynch III	Member at Large	1.00	Director	$0	$0	$0
Steve Moss	Member at Large	1.00	Director	$0	$0	$0
Felice Pomeranz	Director, Northeastern Region	2.00	Director	$0	$0	$0
Riza Printup	Member at Large	1.00	Director	$0	$0	$0
Amelia Romano	Member at Large	1.00	Director	$0	$0	$0
Carla Siegesmund	Member at Large	1.00	Director	$0	$0	$0
Ann Sullivan	Director, Mid-Atlantic Region	2.00	Director	$0	$0	$0
Rebecca Todaro	Director, Southern Region	2.00	Director	$0	$0	$0
Elisa Torres	Member at Large	1.00	Director	$0	$0	$0
Rebecca Yuille	Member at Large	1.00	Director	$0	$0	$0
Angela Schwarzkopf	Chairman of the Board	10.00	Officer	$0	$0	$0
Chilali Hugo	President	15.00	Officer	$0	$0	$0
Megan Sesma	1st VP	5.00	Officer	$0	$0	$0
Rosanna Chiu	2nd VP	5.00	Officer	$0	$0	$0
Susie Spiwak	Secretary	5.00	Officer	$0	$0	$0
Jeremy Chesman	Treasurer	5.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$272,141	$298,834	$653,855	$-26,693
2024	$290,870	$337,540	$693,614	$-46,670
2023	$254,201	$362,897	$652,479	$-108,696
2022	$234,507	$405,296	$748,359	$-170,789
2021	$237,464	$233,426	$906,700	$4,038