New England Foundation for the Arts Incorporated
Nonprofit profile at a glance
- EIN
- 042593591
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Boston, MA, USA
- Phone
- 6179510010
- Rating
- 83
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Fund Raising and/or Fund Distribution
Reported finances
- Revenue
- $10,361,415
- Expenses
- $13,768,287
- Assets
- $40,261,943
- Liabilities
- $8,684,253
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
22 people listed
Executive titles in this filing
- HAROLD STEWARD (EXECUTIVE DIRECTOR)
Highest reported compensation
- HAROLD STEWARD (EXECUTIVE DIRECTOR): $238,513 total reported compensation
- JUG CHOKSHI (CHIEF OPERATING OFFICER (UNTIL 10/24)): $177,633 total reported compensation
- JANE PRESTON (DEPUTY DIRECTOR, PROGRAMS): $171,123 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Nefa invests in artists and communities and fosters equitable access to the arts, enriching the cultural landscape in new england and the nation.
What it reported doing in 2024
Center stage - an international exchange program that will bring performing artists from around the globe to tour throughout the u.s. The program is an effort to demonstrate respect and understanding of cultures by bringing international performing artists to the u.s. So that americans can grow in appreciation and understanding of other nations, while providing opportunities to international performers.
Operating model
- Revenue model
- Donor-supported. 70% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 67% of its reported program spending out as grants.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 90
- Transparency & Controls: 72
- Accountability: 95
- Sustainability: 32
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 81%; rating input score 81
- Fundraising efficiency: $29.75 raised per $1 spent on fundraising; rating input score 66; 66th percentile among comparable filings
Transparency & Controls
- Consistency checks: 93.3%; rating input score 93; 14th percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Pass
- 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: 75.8%; rating input score 76; 15th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- 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: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -32.9%; rating input score 3; 3rd percentile among comparable filings
- Total-asset coverage ratio: 2.92; rating input score 74; 74th percentile among comparable filings
- Liabilities to assets ratio: 0.22; rating input score 56; 56th percentile among comparable filings
- Officer compensation ratio: 10.1%; rating input score 20; 20th percentile among comparable filings
Growth
- Program expense growth: 6.4% per year; rating input score 100; 52nd percentile among comparable filings
- Revenue growth: 5.5% per year; rating input score 100; 48th percentile among comparable filings
- Asset growth: 5.9% per year; rating input score 100; 42nd percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 81% of spending went to programs
- Governance: 13 of 13 board members independent · 8 of 9 filing controls reported
- Programs: 5 filed program accomplishments · $11.1M in reported program spending
- Leadership: top reported pay $239K · 22 people listed · 2 of 6 pay-setting controls reported
- Highest-paid contractors: 4 contractors listed · $760K reported
- Consistency: 35 of 36 current checks pass · 1 finding to review
- Schedules: 6 filed schedules · includes major donors, grants, and executive pay
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 228 filed money-flow records
- Related organizations: 217 filed related-organization links
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Sustainability: Operating margin scored 3/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Sustainability: Officer compensation ratio scored 20/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Sustainability: Liabilities to assets ratio scored 56/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.