THE HARPS FOUNDATION (EIN 311657824) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1999

Legal Domicile

Principal Officer

LYNNELLE EDIGER

Phone

8043537001

Tax Period

2024-01-01 to 2024-12-31

THE HARPS FOUNDATION is a small nonprofit in the Arts, Culture & Humanities sector that reported $430K in total revenue in fiscal year 2018. Revenue fell 28% from the prior year — a significant decline worth monitoring. Expenses of $475K exceeded revenue, resulting in a 10% operating deficit.

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.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $200,499

Program Service Revenue $8,299

Investment Income $673

Other Revenue $375

TOTAL REVENUE $209,846

Expense Breakdown

Grants Paid $0

Salaries & Benefits $108,461

Fundraising Expenses $27,888

Program Expenses $186,717

Other Expenses $147,114

TOTAL EXPENSES $255,575

Year-over-Year Comparison

	2024	2023	Change
Revenue	$209,846	$317,820	-0.3%
Expenses	$255,575	$357,124	-0.3%
Net Income	$-45,729	$-39,304	+0.2%

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

N/A

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANNE BAILEY	CHAIR	10.00	Officer Director	$0	$0	$0
DR KIMBERLY CALDWELL	DIRECTOR	1.00	Officer Director	$0	$0	$0
LINDA GERMEROTH	DIRECTOR	2.00	Officer Director	$0	$0	$0
KERRIE JORDAN	SECRETARY	1.00	Officer Director	$0	$0	$0
DR HERMINE MAES	DIRECTOR	3.00	Officer Director	$0	$0	$0
PAT MAYS	DIRECTOR	3.00	Officer Director	$0	$0	$0
HEATHER MLOT	DIRECTOR	3.00	Officer Director	$0	$0	$0
MARY ANN WILSON	DIRECTOR	1.00	Officer Director	$0	$0	$0
LYNNELLE EDIGER	EXECUTIVE DI	2.00	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
2024	$209,846	$255,575	$133,678	$-45,729
2023	$317,820	$357,124	$178,124	$-39,304
2022	$191,117	$257,687	$217,103	$-66,570
2021	$439,266	$290,047	$285,568	$149,219
2020	$228,773	$174,115	$139,955	$54,658
2019	$488,599	$467,431	$91,016	$21,168
2018	$429,910	$474,801	$60,175	$-44,891

THE HARPS FOUNDATION