New Renaissance Arts Center of New York Inc

Nonprofit profile at a glance

EIN
834589896
IRS 990-EZ coverage
2020–2024
Forms available
Form 990-EZ 2024, Form 990-N 2019
Location
New York, NY, USA
Phone
7186501592
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$7,734
Expenses
$7,335
Assets
$3,271
Liabilities
$0

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

Leadership & pay

3 people listed

People named in this filing

  • Francesco Santoro (Director)
  • Mary F Wilches (Director)
  • Graziella Pruiti (Director)

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

Our primary exempt purpose is the development of affordable art classes and art history lectures for the promotion of the arts. During fiscal year 2024 we hosted a summer art program giving artists and general public de possibility to improve their artistic skills and knowledge on the appreciation of art. We also hosted a series of art history lectures and made the first exhibition of our emerging artists who participated to our program in all the previous years.

What it reported doing in 2024

Summer art classes. We hosted our summer art program receiving artists from any skill level where they executed an artwork made in a classical stile. The program consisted in 22 full day sessions where we hosted a total of 122 students. All participants were able to finish at least one artwork. The program is aimed to work individually with each student to bring their artistic skills to a further leve of mastership. We hosted this event thanks to the free use of the space granted by a partner association calculated in $ 3200 for the whole summer program which consisted on three full days a week for the month of June and July 2024.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 82
  • Sustainability: 48
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.5%; rating input score 71
  • Program expense ratio: 74.4%; rating input score 74

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 5.2%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 0.45; rating input score 27; 27th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 68; 68th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 80.8% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 82.5% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 11.1% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 70.5% of revenue deployed · 74.4% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 3 filed program accomplishments · $5K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 5 filing years from 2020 to 2024
  • 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.

  • High — Sustainability: Total-asset coverage ratio scored 27/100.
  • Review — Sustainability: Operating margin scored 55/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.