Brooklyn Arts Exchange Inc

Overview

Mission

Bax/brooklyn arts exchange is a multigenerational arts organization nurturing creative expression and artistic process through education, residencies, and performance at the intersection of arts and social justice.

What it reported doing in 2024

Bax supports the creation of new work by emerging artists, cultivates multi-generational audiences, and provides accessible, interactive arts programming and public school residencies to serve nearly 10,000 New York city community members annually.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 96% 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.

Nonprofit profile at a glance

EIN
113071458
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Brooklyn, NY, USA
Phone
7188320018
Rating
91
Verdict
STRONG
Rating confidence
Standard
Sector
Performing Arts Organizations

Official website

Reported finances

Revenue
$1,908,426
Expenses
$2,150,347
Assets
$4,746,891
Liabilities
$3,477,724

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

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 100
  • Accountability: 95
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.3%; rating input score 97
  • Program expense ratio: 86.3%; rating input score 86
  • Fundraising efficiency: $14.95 raised per $1 spent on fundraising; rating input score 50; 50th 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: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 91.7%; rating input score 92; 24th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • 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: Pass

Sustainability

  • Operating margin: -12.7%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 2.21; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.73; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 14.8%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 6.9% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: 5.5% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 19.2% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 97.3% of revenue deployed · 86.3% of spending went to programs
  • Governance: 11 of 12 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.9M in reported program spending
  • Leadership: top reported pay $107K · 16 people listed
  • Consistency: 33 of 33 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 12 annual filings from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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.

  • Review — Financial Efficiency: Fundraising efficiency scored 50/100.
  • High — Sustainability: Operating margin scored 14/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.

Leadership & pay

16 people listed

Highest reported compensation

  • VANESSA ADATO (CO-EXECUTIVE DIRECTOR, FINANCE & OPERATIONS (SINCE 10/1/2024)): $107,299 total reported compensation
  • LUCIA SCHECKNER (CO-EXECUTIVE DIRECTOR, EDUCATION): $100,754 total reported compensation
  • MARLENE RAMIREZ-CANCIO (CO-EXECUTIVE DIRECTOR/ARTISTIC DIRECTOR (SINCE 10/1/2024)): $99,016 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024.