According to the Foundation's website, "MHOF donates musical instruments to music programs where students have access to a music curriculum but lack the resources and support base to adequately keep up with equipment loss due to attrition, depreciation and wear over time. An infusion of instruments and repairs enables more students to participate and experience a quality music education." The stated goal of MHOF is to "help children achieve their greatest potential and to close the gap that exists in underserved communities."
2007 revenue was $2.8 million, of which 12 percent came from corporate donations, 27 percent from other foundations, and 10 percent from individual contributors. In 2007, more than 91 percent ($2.5 million) of MHOF's revenue was used to fund music program expenses. Management and fundraising expenditures totaled 2 percent each. Charity Navigator rates MHOF four stars.