Sva Alumni Society Inc
- Assets
- $2.4m
- Revenue
- $459.7k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 09/2016
- Data as of
- 06/2023
- EIN
- 23-7193748
Organization Overview
Sva Alumni Society Inc is located in New York, NY. The organization was established in 2016. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sva Alumni Society Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Sva Alumni Society Inc generated $459.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (11.5%) each year. All expenses for the organization totaled $352.9k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE SOCIETY WORKS IN CONJUNCTION WITH THE ALUMNI AFFAIRS AND DEVELOPMENT OFFICE AT THE SCHOOL OF VISUAL ARTS SERVING AS THE VEHICLE FOR GRANTING SELECT STUDENT SCHOLARSHIPS AND MERIT AWARDS AND SOLICITING DONATIONS TO FUND THE PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NAMED AND MERIT SCHOLARSHIPSFORTY NAMED SCHOLARSHIPS, TOTALING $60,800, AND ONE $1,000 MERIT SCHOLARSHIP WERE ISSUED IN FY23. 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 MARTICULATED STUDENTS IN GOOD ACADEMIC STANDING WITH A MINIMUM CUMULATIVE GPA OF 3.0, AND PLANNING TO GRADUATE IN SPRING 2023, WERE ELIGIBLE. THE LILA 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 $2,400. AWARDS FROM THESE TWO FUNDS ARE NEED BASED AND ARE DISTRIBUTED ANNUALLY TO A STUDENT TO DIRECTLY PAY FOR STUDENT LOAN DEBT.HOUSING SCHOLARSHIPSIN FY23 $31,000 IN SCHOLARSHIPS WERE AWARDED TO TWO 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 FORTY-FIVE 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 2023, WERE ELIGIBLE. AWARD AMOUNTS RANGE FROM $500-$2000 AND ARE BASED UPON ARTISTIC MERIT, AS DETERMINED BY A REVIEW PANEL, AND FINANCIAL NEED AS DEMONSTRATED BY A PROJECT BUDGET. IN FY23 $17,000 WAS AWARDED TO THIRTY-FOUR STUDENTS FROM THE EMERGENCY ASSISTANCE FUND (EAF). THE FUND WAS ESTABLISHED IN ORDER TO PROVIDE EMERGENCY FINANCIAL ASSITANCE IN THE FORM OF MICROGRANTS TO SUPPORT CURRENTLY ENROLLED, FULL-TIME UNDERGRADUATE AND GRADUATE STUDENTS WHO WERE EXPERIENCING ACUTE ECONOMIC DISTRESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd Radom Chairman | OfficerTrustee | 1 | $0 |
Michael Halsband Vice-Chairman | OfficerTrustee | 1 | $0 |
Phyllis Hollis Treasurer | OfficerTrustee | 1 | $0 |
David Kuhn Secretary | OfficerTrustee | 1 | $0 |
Christopher Growney Board Member | Trustee | 1 | $0 |
Lynda Hughes Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $411,720 |
| Noncash contributions included in lines 1a–1f | $97,536 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $411,720 |
| Total Program Service Revenue | $0 |
| Investment income | $47,942 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $459,662 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $149,800 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $66,958 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,652 |
| Fees for services: Other | $10,050 |
| Advertising and promotion | $0 |
| Office expenses | $33,424 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $24,116 |
| All other expenses | $0 |
| Total functional expenses | $352,895 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $95,139 |
| Savings and temporary cash investments | $84,645 |
| Pledges and grants receivable | $119,630 |
| Accounts receivable, net | $29 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $832,376 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,220,696 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,352,515 |
| Accounts payable and accrued expenses | $225 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $225 |
| Net assets without donor restrictions | $1,810,158 |
| Net assets with donor restrictions | $542,132 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,352,515 |