National Foundation for Advancement in the Arts Inc

Nonprofit profile at a glance

EIN
592141837
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2023
Location
Miami, FL, USA
Phone
3053771140
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts Service Organizations and Activities

Official website

Reported finances

Revenue
$13,778,444
Expenses
$12,851,230
Assets
$65,467,986
Liabilities
$792,630

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

Leadership & pay

37 people listed

Executive titles in this filing

  • RICH KOHAN (PRESIDENT OF THE BOARD)
  • CLIVE CHANG (PRESIDENT)

Highest reported compensation

  • CLIVE CHANG (PRESIDENT): $671,485 total reported compensation
  • TERESA D SIDES (VP OF ADVANCEMENT): $287,512 total reported compensation
  • TANYA REID (VP OF FINANCE & OPERATIONS (THRU 11/24)): $221,841 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the national foundation for advancement in the arts, inc. Dba youngarts is to identify exceptional young artists, amplify their potential and invest in their lifelong creative freedom.

What it reported doing in 2024

Programs for past youngarts winners offered youngarts artists support to grow their careers beyond their winner year within three focus areas: creative development, professional development and community engagement. Through year-long initiatives both in-person and virtual, solely authorized by youngarts and achieved in partnership with colleague institutions, past winners received access to fellowships, creative residencies, performance and exhibition opportunities, 1:1 mentorships, and discipline-specific and skills-based training workshops and microgrants for creative project support or emergency relief. Artists connect to these opportunities and to more than 5,000 fellow youngarts winners through a dedicated digital portal. Through this resource and other programs, more than 1,300 past winners participated in programs in fiscal year 2025. Overall, programming resulted in more than $1.3 million in funds distributed to artists during fy25.

Operating model

Revenue model
Donor-supported. 88% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 86% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 81
  • Accountability: 100
  • Sustainability: 64
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.1%; rating input score 83
  • Program expense ratio: 84.5%; rating input score 85
  • Fundraising efficiency: $9.83 raised per $1 spent on fundraising; rating input score 38; 38th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 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: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 6.7%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 5.09; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 16%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: -7% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -6% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 0.5% per year; rating input score 100; 12th percentile among comparable filings

Details

  • Where the money goes: 83.1% of revenue deployed · 84.5% of spending went to programs
  • Governance: 25 of 25 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $10.9M in reported program spending
  • Leadership: top reported pay $671K · 37 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $1.1M reported
  • Consistency: 47 of 47 current checks pass
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 38/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Operating margin scored 59/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.