National Foundation For Advancement In The Arts Inc
- Assets
- $60.8m
- Revenue
- $13.1m
- Investments
- $8.8m
- Employees
- 387
- Location
- Miami, FL
- Founding
- 03/1982
- Data as of
- 06/2021
- EIN
- 59-2141837
Organization Overview
National Foundation For Advancement In The Arts Inc, operating under the name Youngarts, is located in Miami, FL. The organization was established in 1982. According to its NTEE Classification (A90) the organization is classified as: Arts Services, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Youngarts employed 387 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Youngarts 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 06/2021, Youngarts generated $13.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $8.1m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
IDENTIFY AND ASSIST EMERGING ARTISTS
Describe the Organization's Program Activity:
NATIONAL YOUNGARTS WEEK AND REGIONAL PROGRAMS REPRESENT NFAA'S CORE PROGRAMMING. THROUGH CORE PROGRAMMING NFAA PROVIDES MASTER CLASSES, PERFORMANCE AND EXHIBITION OPPORTUNITIES, RECOGNITION AND AWARDS TO NFAA'S WINNERS, WHO ARE YOUNG ARTISTS ORIGINATING FROM ACROSS THE COUNTRY. CONTINUED IN SCHEDULE O.
ALUMNI PROGRAMMING OFFERS YOUNGARTS AWARD WINNERS SUPPORT TO GROW THEIR CAREERS WITHIN THREE FOCUS AREAS: CREATIVE DEVELOPMENT, PROFESSIONAL DEVELOPMENT AND COMMUNITY ENGAGEMENT. ACTIVITIES THROUGHOUT THE YEAR SUPPORTED AWARD WINNERS ALONG WITH THE CONTINUOUS DEVELOPMENT OF A DEDICATED DIGITAL PORTAL. THIS FISCAL YEAR, 305 ALUMNI PARTICIPATED IN PROGRAMS, THE DIGITAL PORTAL RECEIVED OVER 2,722 USERS, AND 90 CREATIVE MICROGRANTS & 298 EMERGENCY MICROGRANTS WERE AWARDED. OVERALL, PROGRAMMING RESULTED IN $2 MILLION IN FUNDS DISTRIBUTED TO ARTISTS.
EACH YEAR, 20 YOUNGARTS FINALISTS ARE NAMED PRESIDENTIAL SCHOLARSI N THE ARTS. AT THE REQUEST OF THE COMMISSION ON PRESIDENTIAL SCHOLARS, WHICH IS APPOINTED BY THE PRESIDENT OF THE UNITED STATES, THE NATIONAL FOUNDATION FOR ADVANCEMENT IN THE ARTS, THROUGH ITS YOUNGARTS PROGRAM, SERVES AS THE EXCLUSIVE NOMINATING AGENCY FOR U.S. PRESIDENTIAL SCHOLARS IN THE ARTS. CONTINUED IN SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jewellyn Malone Executive Director | Officer | 40 | $296,450 |
Stacey Glassman Mizener VP Of Development | Officer | 40 | $239,487 |
Dejha Carrington VP Of Strategic Communications | Officer | 40 | $222,093 |
Lisa Leone VP Of Artistic Programs | Officer | 40 | $211,118 |
Lauren Snelling Artistic Director | 40 | $122,186 | |
Christopher Williams Director Of Finance | 40 | $121,878 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Finn Partners Inc Public Rel. Consul. | 6/29/21 | $173,557 |
Eighth Light Llc Website Development | 6/29/21 | $151,790 |
Cozen O'connor Legal Services | 6/29/21 | $125,329 |
Pentagram Design Inc Website Development | 6/29/21 | $116,000 |
Daun Llc Fundraising Consult. | 6/29/21 | $149,910 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $273,432 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,595,508 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,868,940 |
| Total Program Service Revenue | $96,482 |
| Investment income | $631,673 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,501,752 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,120,444 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,041,029 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $380,969 |
| Compensation of current officers, directors, key employees. | $76,194 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,005,825 |
| Pension plan accruals and contributions | $56,658 |
| Other employee benefits | $307,926 |
| Payroll taxes | $273,550 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $121,255 |
| Fees for services: Accounting | $21,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $55,467 |
| Fees for services: Investment Management | $291,086 |
| Fees for services: Other | $800,070 |
| Advertising and promotion | $39,572 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,577 |
| Travel | $49,135 |
| 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 | $128,611 |
| Insurance | $33,215 |
| All other expenses | $0 |
| Total functional expenses | $8,136,994 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,595,057 |
| Savings and temporary cash investments | $2,247,659 |
| Pledges and grants receivable | $1,325,618 |
| Accounts receivable, net | $45,507 |
| 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 | $225,166 |
| Net Land, buildings, and equipment | $214,524 |
| Investments—publicly traded securities | $44,067,150 |
| Investments—other securities | $8,817,076 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $296,931 |
| Total assets | $60,834,688 |
| Accounts payable and accrued expenses | $781,204 |
| Grants payable | $0 |
| Deferred revenue | $62,775 |
| 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 | $843,979 |
| Net assets without donor restrictions | $9,215,813 |
| Net assets with donor restrictions | $50,774,896 |
| 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 | $60,834,688 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that National Foundation For Advancement In The Arts Inc has recieved totaling $7,687,966.
| Awarding Organization | Amount |
|---|---|
Arison Arts Foundation Coral Gables, FL PURPOSE: GENERAL SUPPORT | $7,652,718 |
The Miami Foundation Inc Miami, FL PURPOSE: PROGRAM SUPPORT | $25,000 |
Alice M And Thomas J Tisch Foundation Inc New York, NY PURPOSE: TO FURTHER EDUCATIONAL, RELIGIOUS, MEDICAL, CULTURAL, SOCIETAL AND ENVIRONMENTAL CAUSES. | $10,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $150 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $98 |
Endowment Analysis
| Beg. Balance | $46,919,287 |
| Earnings | $9,658,666 |
| Other Expense | $1,963,233 |
| Ending Balance | $54,614,720 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Foundation For Advancement In The Arts Inc Miami, FL | $60,834,688 | $13,120,444 |
South Florida Art Center Inc Miami Beach, FL | $115,639,689 | $4,483,318 |
Serenbe Art Farm For Arts And Education Corporation Chattahoochee Hills, GA | $1,242,651 | $1,430,942 |
Hambidge Center For Creative Arts & Sciences Inc Rabun Gap, GA | $5,261,763 | $2,990,287 |
Lemoyne Art Foundation Inc Tallahassee, FL | $3,131,181 | $2,535,049 |
Kp Cares Powder Springs, GA | $0 | $619,995 |
Silence The Shame Inc Alpharetta, GA | $362,225 | $490,921 |
Boca Hrande Art Center Inc Boca Grande, FL | $512,458 | $431,397 |
Studio By The Tracks Inc Irondale, AL | $666,947 | $386,340 |
Asian Arts Center Lake Park, FL | $54,545 | $240,988 |
Georgia Lawyers For The Arts Inc Atlanta, GA | $784,151 | $531,353 |
Fren Foundation Inc Richmond Hill, GA | $17,923 | $315,342 |