Nvak Inc
Nonprofit profile at a glance
- EIN
- 825303346
- IRS 990-EZ coverage
- 2018–2023
- Forms available
- Form 990 2019, Form 990-EZ 2023
- Location
- Santa Monica, CA, USA
- Phone
- 2255053712
- Rating
- 84
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Music
Reported finances
- Revenue
- $172,408
- Expenses
- $160,361
- Assets
- $26,768
- Liabilities
- $24,999
Source: IRS Form 990-EZ. Selected filing: tax year 2023. Amounts in USD.
Leadership & pay
4 people listed
People named in this filing
- TAMAR KAPRELIAN (FOUNDER)
- ROCHELLE HOLGUIN (DIRECTOR)
- LAUREN DAVIS (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 2023. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Nvak (which means music in armenian) is a music education program whose mission is to educate and develop the skills of young musicians living in countries facing social, political and/or economic challenges.we connect our students (ages 14-30) with educators and professionals from the music business, using music education as a way to (1) bring people together into dialogue,(2) foster artistic and social collaboration and (3) help our students find career growth opportunities that would otherwise be unavailable to them.
What it reported doing in 2023
In 2015, because of the work tamar was doing in the u.s. Music business, she was given the opportunity to spend extended amounts of time in yerevan, armenia. During those months, she got to know local creatives and realized while talent was equally distributed, opportunity was not.the armenian youth possessed huge amounts of emotional intelligence; they were curious and hungry to learn; they wanted to integrate into the global and technologically connected world; and they wanted to have more access to opportunities that were unavailable to them. Tamar realized that because of her connections in the music industry, and the platform she had in the country, there was an opportunity for her to create an organization super-serving talented musicians in armenia. Prior to nvak, there was no collaborative, cohesive, vibrant, modern music community in armenia. Young musicians were not producing or releasing original music. They were not collaborating and working with each other. They were not playing live shows. No one knew what an open-mic-night was. No one knew what songwriter circles were. The mission was to create change and to weave together the fragmented creative community. By 2019, nvak had scaled to 2 additional countries; impacting artists in 3 different regions(armenia, israel, and malawi)and 6 different cultural groups; in 2020, nvak evolved its educational programming into a hybrid in-person and remote learning system that can be held year-round and reach its entire global community of 1,500 students. This flexible education model fits the needs of the modern music student and significantly expands nvak's impact through music education. What originally started as a summer program is now a year-round community and family that provides free, high-quality, inclusive music education for under-served musicians globally.
Operating model
- Revenue model
- Donor-supported. 99% of the money available for current operations came from contributions and gifts.
- 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
STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Total assets are small relative to annual expenses; liquid coverage is unknown and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 75
- Transparency & Controls: 100
- Sustainability: 38
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 73.4%; rating input score 73
- Program expense ratio: 79%; rating input score 79
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: 7%; rating input score 53; 53rd percentile among comparable filings
- Total-asset coverage ratio: 0.17; rating input score 16; 16th percentile among comparable filings
- Liabilities to assets ratio: 0.93; rating input score 6; 6th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings
Growth
- Program expense growth: 2.4% per year; rating input score 100; 39th percentile among comparable filings
- Revenue growth: 3.7% per year; rating input score 100; 43rd percentile among comparable filings
- Asset growth: 10% per year; rating input score 100; 60th percentile among comparable filings
Details
- Where the money goes: 73.4% of revenue deployed · 79% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 2 filed program accomplishments · $127K in reported program spending
- Leadership: top reported pay $0 · 4 people listed
- Consistency: 7 of 7 current checks pass
- Schedules: 3 filed schedules
- Filing history: 4 filing years from 2018 to 2023
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Related organizations: Filed and resolved organization relationships.
- 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 16/100.
- Review — Sustainability: Operating margin scored 53/100.
- High — Sustainability: Liabilities to assets ratio scored 6/100.