Princess Grace Foundation - USA

Nonprofit profile at a glance

EIN
232218331
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
New York, NY, USA
Phone
2123171470
Rating
60
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Named Trusts N.E.C.

Official website

Reported finances

Revenue
$6,369,556
Expenses
$2,297,340
Assets
$30,128,746
Liabilities
$1,139,281

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

Leadership & pay

27 people listed

Executive titles in this filing

  • DIANA CARTWRIGHT (PRESIDENT)

Highest reported compensation

  • DIANA CARTWRIGHT (PRESIDENT): $198,125 total reported compensation
  • PATRICIA LEONARD (CHIEF PHILANTHROPY OFFICER): $123,125 total reported compensation
  • KATHERINE EPSTEIN (CONTRACTED ACCOUNTING MANAGER): $20,510 total reported compensation

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

Overview

Mission

National in scope, the princess grace foundation-USA is dedicated to identifying and assisting emerging talent in theater, dance, and film by awarding grants in the form of scholarships, apprenticeships, and fellowships. The foundation's trustees share princess grace's dedication to supporting the arts and they believe, as princess grace did, that cultivation and training of emerging talent is essential to ensure sustained excellence in the arts. Each year, the foundation announces a select group of princess grace awards for distinction in the areas of theater, dance, and film. Students are eligible for scholarships; emerging artists working in companies qualify for apprenticeships and fellowships. A playwriting fellowship is available for individual artists through a residency at new dramatists in New York city.

What it reported doing in 2024

The princess grace awards support extraordinary emerging artists in theater, dance, and film through unrestricted grants. The program honors creative generators (theater directors, designers, choreographers, and film directors) and performance-based artists (including but not limited to actors and dancers), with a playwriting fellowship offered in partnership with new dramatists. The application is nomination-based, with nominations coming from schools, nonprofit theater and dance companies, nonprofit media arts centers, and previous princess grace award winners. Princess grace award winners (excluding playwriting fellows) are chosen through a rigorous two-stage adjudication process led by expert practitioners across disciplines, culminating in in-person deliberations where decisions are reached by consensus. Successful nominators receive a modest grant in recognition of their successful nomination. Applicants to the princess grace awards must be living and working in the united states at the time of nomination.beyond the initial award, the foundation remains committed to its artists by offering advancement grants which include opportunities for project specific support (special project grants), professional development (professional development grants) and intensive coaching in partnership with map fund's spa program (princess grace artist fellowship).

Operating model

Revenue model
Donor-supported. 89% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 65% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 28
  • Transparency & Controls: 76
  • Accountability: 95
  • Sustainability: 83
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 19.3%; rating input score 19
  • Program expense ratio: 44.8%; rating input score 45
  • Fundraising efficiency: $5.85 raised per $1 spent on fundraising; rating input score 21; 21st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 43rd 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; 63rd 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: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 63.9%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 13.11; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 74; 74th percentile among comparable filings
  • Officer compensation ratio: 14.9%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: -7.4% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: 3.5% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 4.3% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 19.3% of revenue deployed · 44.8% of spending went to programs
  • Governance: 24 of 24 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1M in reported program spending
  • Leadership: top reported pay $198K · 27 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 39 of 39 current checks pass
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 11 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 3 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.

  • High — Financial Efficiency: Mission deployment rate scored 19/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 45/100.
  • High — Transparency & Controls: Foreign activity oversight: 7 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 21/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 19/100.