Sva Alumni Society Inc

Nonprofit profile at a glance

EIN
237193748
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2125922300
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts Education

Official website

Reported finances

Revenue
$694,773
Expenses
$419,397
Assets
$1,971,967
Liabilities
$705

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

Leadership & pay

8 people listed

People named in this filing

  • TODD RADOM (CHAIRMAN)
  • MICHAEL HALSBAND (VICE-CHAIRMAN)
  • LYNDA HUGHES (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Sva alumni society, inc. (the "society") was established to maintain, promote and enhance a mutually beneficial relationship between the school of visual arts (the "school") and its alumni. The society promotes professional development among the alumni and raises funds toward scholarship programs.

What it reported doing in 2024

Forty-two named scholarships, totaling $62,800, and one $1,000 merit scholarship were issued in fy25. Scholarships support the direct cost of completing a final thesis/senior portfolio project, to recognize individual accomplishment and merit, or are need based, as indicated below. All matriculated students in good academic standing with a minimum cumulative gpa of 3.0, and planning to graduate in spring 2025, were eligible. The lila eva lewental memorial award was distributed to one student in the amount of $10,000. The rodman family scholarship award was distributed to one student in the amount of $2,600. Awards from these two funds are need based and are distributed annually to a student to directly pay for student loan debt. Housing scholarshipsin fy25 $88,750 in scholarships were awarded to five housing scholarship recipients. The intent of the alumni society housing scholarship is to provide on-campus housing for a student who would otherwise commute from home. The housing scholarship covers the cost of on-campus housing for the duration at sva (not to exceed four years). Eligible students must fulfill the following criteria: home address is within a 100 mile radius from zip code 10010; minimum high school or transfer gpa of 3.0; demonstrated financial need.alumni and emergency assistance fund scholarshipsthe alumni scholarship fund issued sixty-four awards to support the direct cost of completing final thesis/senior portfolio projects. All matriculated students in good academic standing with a minimum gpa of 3.0, and planning to graduate in spring 2025, were eligible. Award amounts range from $500-$1,500 and are based upon artistic merit, as determined by a review panel, and financial need as demonstrated by a project budget. In fy25 $12,500 in emergency assistance fund scholarships were issued to twenty-five recipients.

Operating model

Revenue model
Donor-supported. 83% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 97% 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: 45
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 86
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 45.1%; rating input score 45
  • Program expense ratio: 50.5%; rating input score 50
  • Fundraising efficiency: $7.96 raised per $1 spent on fundraising; rating input score 31; 31st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th 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; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 39.6%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 4.7; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -5.3% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -2.4% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: 1.8% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: 45.1% of revenue deployed · 50.5% of spending went to programs
  • Governance: 8 of 8 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $212K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Financial Efficiency: Mission deployment rate scored 45/100.
  • Review — Financial Efficiency: Program expense ratio scored 50/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 31/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.