New Art Dealers Alliance Inc
Nonprofit profile at a glance
- EIN
- 200300913
- IRS 990 coverage
- 2015–2024
- Forms available
- Form 990 2024
- Location
- New York, NY, USA
- Phone
- 2125940883
- Rating confidence
- Limited
- Sector
- Chambers of Commerce & Business Leagues
Reported finances
- Revenue
- $4,079,206
- Expenses
- $3,797,123
- Assets
- $3,909,950
- Liabilities
- $798,972
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
13 people listed
Executive titles in this filing
- EBONY HAYNES (CO-PRESIDENT)
- JEFFREY ROSEN (CO-PRESIDENT)
- STEPHAN BENOCHAM (VICE PRESIDENT)
- HEATHER M HUBBS (EXECUTIVE DIRECTOR)
Highest reported compensation
- HEATHER M HUBBS (EXECUTIVE DIRECTOR): $226,065 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 new art dealers alliance is to create an open flow of information, support, and collaboration within our field and to develop a stronger sense of community among our constituency. We believe that the adversarial approach to exhibiting and selling art has run its course. We believe that change can be achieved through fostering constructive thought and dialogue between various points in the art industry from large galleries to small spaces, non-profit and commercial alike.
What it reported doing in 2024
Nada is comprised of individual art professionals (young directors of established galleries, nonprofit organizations, and independent curators) as well as young galleries from around the world. To date, there are more than 100 members from cities including chicago, los angeles, san francisco, tokyo, london, paris, munich and berlin, with the largest constituency based in New York city. Our year-round programming and educational initiatives includes artist talks, gallery walks with important curators, benefits supporting charitable institutions, members-only seminars to stimulate professional dedication and ethics.each december in miami, nada runs a renowned art fair to vigorously pursue our goals of exploring new or underexposed art that is not typical of the "art establishment." it is the only major american art fair to be run by a non-profit organization. Nada's fair is held in parallel with art basel miami beach and is recognized as a much needed alternative assembly of the world's youngest and strongest art galleries. As the premiere source for innovative and new artwork by the rising stars of the art world, the fair attracts the most influential and affluent constituency of art collectors. Fair sales have quadrupled from $1.8m in 2003 to more than $10m in 2006 with over 18,000 annual attendees. The character of the nada fair, the fair exhibitors, the economic model and the non-profit status of the fair together mark innovations in the industry.the identity of the fair is one of "youth appeal," which has been an attraction to established, older art collectors and younger, "next generation" collectors alike. Established collectors often see the fair as a way of engaging with this "next generation and the younger collectors feel that this is an approachable environment for them to gain access to the art world. At the core of the new art dealers alliance is a genuine concern for the future of the arts. Nada envisions the international growth of its community to be based on collaboration, openness and approachability. The nada fair itself represents an effort toward community outreach.
Operating model
- Revenue model
- Earned-program. 96% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
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: NotEnoughData
- Transparency & Controls: 61
- Accountability: 74
- Sustainability: 48
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 88.9%; rating input score 89; 3rd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 68.5%; rating input score 69; 18th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 3 of 8 controls in place; rating input score 38
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- 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: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 6.9%; rating input score 56; 56th percentile among comparable filings
- Total-asset coverage ratio: 1.03; rating input score 38; 38th percentile among comparable filings
- Liabilities to assets ratio: 0.2; rating input score 43; 43rd percentile among comparable filings
- Officer compensation ratio: 6%; rating input score 47; 47th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 8.4% per year; rating input score 100; 61st percentile among comparable filings
- Asset growth: 12.2% per year; rating input score 100; 66th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 12 of 12 board members independent · 3 of 8 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $226K · 13 people listed · 1 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $208K reported
- Consistency: 11 of 12 current checks pass · 1 finding to review
- Schedules: 4 filed schedules · includes grants and executive pay
- Filing history: 10 filing years from 2015 to 2024
- Contacts: How to reach this organization
- Money network: 2 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.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Accountability: Governance controls: 4 of 7 not reported.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Sustainability: Operating margin scored 56/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 43/100.
- Moderate — Sustainability: Officer compensation ratio scored 47/100.