National Foundation For Advancement In The Arts Inc
- Assets
- $60.8m
- Revenue
- $13.1m
- Investments
- $8.8m
- Employees
- 301
- 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 06/2022, Youngarts employed 301 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 7 years the organization has increased revenue by an average of 2.5% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
IDENTIFY AND ASSIST EMERGING ARTISTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NFAA ACKNOWLEDGES ARTISTIC EXCELLENCE AND PROVIDES LIFELONG SUPPORT TO YOUNG ARTISTS IN THE LITERARY, VISUAL AND PERFORMING ARTS, INCLUDING CLASSICAL MUSIC, DANCE, DESIGN ARTS, FILM, JAZZ, PHOTOGRAPHY, THEATER, VISUAL ARTS, VOICE AND WRITING. EACH YEAR, MORE THAN 7,000 APPLICANTS SUBMIT FOR THE YOUNGARTS COMPETITION. IN 2022, 729 ARTISTS ORIGINATING FROM ACROSS THE COUNTRY WERE SELECTED AT THE FINALIST, HONORABLE MENTION AND MERIT AWARD LEVELS. WITHIN THIS TOTAL POOL, 769 CASH AWARDS WERE GRANTED (SOME WINNERS RECEIVED AWARDS IN MULTIPLE CATEGORIES), FOR A TOTAL OF $761,975 IN AWARDS. THESE ARTISTS JOINED A COMMUNITY OF MORE THAN 20,000 YOUNGARTS WINNERS WHO HAVE (CONTINUED ON SCHEDULE O)
PROGRAMS FOR PAST YOUNGARTS WINNERS OFFERED YOUNGARTS ARTISTS SUPPORT TO GROW THEIR CAREERS BEYOND THEIR WINNER YEAR WITHIN THREE FOCUS AREAS: CREATIVE DEVELOPMENT, PROFESSIONAL DEVELOPMENT AND COMMUNITY ENGAGEMENT. THROUGH YEAR-LONG INITIATIVES BOTH IN-PERSON AND VIRTUAL, SOLELY AUTHORIZED BY YOUNGARTS AND ACHIEVED IN PARTNERSHIP WITH COLLEAGUE INSTITUTIONS, PAST WINNERS RECEIVED ACCESS TO FELLOWSHIPS, CREATIVE RESIDENCES, PERFORMANCE AND EXHIBITION OPPORTUNITIES, 1:1 MENTORSHIP, DISCIPLINE-SPECIFIC AND SKILLS-BASED TRAINING WORKSHOPS AND MICROGRANTS FOR CREATIVE PROJECT SUPPORT OR EMERGENCY RELIEF. (CONTINUED ON SCHEDULE O)
THE IN-PERSON PSA PROGRAM WAS DISCONTINUED BY THE DEPARTMENT OF EDUCATION DURING THE COVID-19 PANDEMIC. EXPENSES REFLECT YOUNGARTS' DONATION AND BOARD DUES PAID TO THE PRESIDENTIAL SCHOLARS FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jewellyn Malone Executive Director Thru 01/22 | Officer | 40 | $361,823 |
Dejha Carrington VP Of Strategic Communications | Officer | 40 | $262,256 |
Lisa Leone Creative Producer | Officer | 40 | $239,405 |
Teresa D Sides VP Of Advancement | Officer | 40 | $214,718 |
Lauren Snelling Artistic Director | Officer | 40 | $152,288 |
Rebekah Lengel Deputy Director | 40 | $140,829 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Norfus Firm Pllc Hr Consulting | 6/29/22 | $178,689 |
Wow Factor Marketing Group Inc Marketing Consulting | 6/29/22 | $174,007 |
Finn Partners Inc Public Rel. Consul. | 6/29/22 | $171,500 |
Team Logic It Of East Memphis Tn It Srvcs & Support | 6/29/22 | $104,894 |
Maven Leadership Collective Leadershp & Devlpmnt | 6/29/22 | $120,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,868,940 |
| 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 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 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 |
| 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 | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $59,990,709 |