Nars Foundation Inc

Nonprofit profile at a glance

EIN
205292405
IRS 990 coverage
2011–2025
Forms available
Form 990 2025, Form 990-EZ 2017
Location
Brooklyn, NY, USA
Phone
7187682765
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$370,666
Expenses
$394,742
Assets
$97,017
Liabilities
$4,048

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

7 people listed

Highest reported compensation

  • JUNHO LEE (FOUNDING DIRECTOR): $67,346 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Supporting artists and curators on an international level as well engaging the local community in brooklyn and the greater New York area. Nars provides an array of creative support services and professional development opportunities for emerging and mid-careerbrooklyn and ny.

What it reported doing in 2025

Studio program provides a creative and supportive work environment for emerging and mid-career artists by providing affordable, long-term work spaces that are designed to foster multicultural dialogue and dynamic cross pollination of ideas among the artists in the studio program and with the professional artist community at large. The program provides a platform for developing, creating, and sharing cutting- edge contemporary artworks in a supportive and stable community. Professional development programs for emerging and underrepresented artists from around the world through its international artists residency program, artists salons, and exhibition programs. The various artists through short-term integrated residency programs, affordable long-term studio spaces, progressive exhibition programs, international exchanges, and engaging public programs that foster global understanding and dynamic cross-cultural dialogues.

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 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

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 92
  • Accountability: 74
  • Sustainability: 21
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.6%; rating input score 80
  • Program expense ratio: 74.7%; rating input score 75
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -6.5%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 0.25; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 17.1%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: 2.1% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 0.6% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 6.3% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 79.6% of revenue deployed · 74.7% of spending went to programs
  • Governance: 7 of 7 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $295K in reported program spending
  • Leadership: top reported pay $67K · 7 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 14 filing years from 2011 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 23/100.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.