Icarus Foundation
Nonprofit profile at a glance
- EIN
- 931480493
- IRS 990-EZ coverage
- 2024–2024
- Forms available
- Form 990-EZ 2024, Form 990-N 2022
- Location
- New York, NY, USA
- Rating confidence
- Limited
- Sector
- Arts, Culture, and Humanities N.E.C.
Reported finances
- Revenue
- $0
- Expenses
- $13,202
- Assets
- $15,268
- Liabilities
- $28,470
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
1 person listed
Executive titles in this filing
- MICHAEL MORRIS (President)
People named in this filing
- MICHAEL MORRIS (President)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Improve the quality of life of artists and their families through grants and scholarships, covering, but not limited to the cost of tuition, cost of materials, cost of living expenses and travel costs to museums, art galleries and exhibitions, which will enhance their existing knowledge and help to open new horizons. In addition, will provide the financial support to those artists struggling with addiction and cover treatment costs.
Operating model
- Revenue model
- Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
- Distribution model
- Direct operator. The filing allocates 100% 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.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: 38
- Transparency & Controls: 82
- Sustainability: 22
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: 100%; rating input score 100
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: Limited
- Total-asset coverage ratio: 1.16; rating input score 50; 50th percentile among comparable filings
- Liabilities to assets ratio: 1.86; rating input score 3; 3rd percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 100% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $13K in reported program spending
- Leadership: top reported pay $0 · 1 people listed
- Consistency: 7 of 7 current checks pass
- Schedules: 2 filed schedules
- Contacts: How to reach this organization
- 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 — Sustainability: Total-asset coverage ratio scored 50/100.
- High — Sustainability: Liabilities to assets ratio scored 3/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.