Naregatsi Art Institute Inc
- Assets
- $53.9k
- Revenue
- $235.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Englewood, NJ
- Founding
- 07/2002
- Data as of
- 12/2023
- EIN
- 22-3781955
Organization Overview
Naregatsi Art Institute Inc is located in Englewood, NJ. The organization was established in 2002. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, 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. Naregatsi Art Institute 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 12/2023, Naregatsi Art Institute Inc generated $235.4k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $235.1k during the year ending 12/2023. While expenses have increased by 7.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE YEAR ENDED DECEMBER 31, 2023, THE INSTITUTE WORKED ON VARIOUS CHARITABLE PROJECTS IN THE AREAS OF DANCE, ART, AND MUSIC IN CONTINUATION OF ITS PROMOTION OF THE ARTS THROUGH DANCE CLASSES AND DANCE PERFORMANCES, PAINTING AND ART CLASSES AND HOSTING ART EXHIBITS, ALONG WITH MUSIC CLASSES AND CHORAL AND ORCHESTRA PERFORMANCES.
DURING THE YEAR ENDED DECEMBER 31, 2023, THE INSTITUTE PARTICIPATED IN HUMANITARIAN AID OUTRECH PROGRAM THAT WAS LAUNCHED BY THE INSTITUTE IN SEPTERMBER OF 2020. THE PROGRAM PROVIDES MATERIAL ASSISTANCE TO DISPLACED ARTSAKH FAMILIES IMPACTED BY THE WAR BETWEEN AZERBAIJAN AND ARTSAKH. THE AID PROVIDED TO THESE DISPLACED FAMILIES INCLUDED PROVISIONS OF BASIC LIVING NECESSITIES SUCH AS WINTER CLOTHING, PORTABLE ELECTRIC HEATERS, COOKWARE, PILLOWS, BLANKETS, HOUSEHOLD ITEMS, FOOD PROVISIONS, AND CLOTHING. THE PROGRAM OFFERRED MATERIAL ASSISTANCE TO ROUGHLY 198 DISPLACED FAMILIES DURING 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nareg Hartounian Founder | 20 | $0 | |
Saro Hartounian Treasurer | 1 | $0 | |
John Hodian Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $235,433 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $235,433 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $84,748 |
| Pension plans, employee benefits | $13,980 |
| Interest | $0 |
| Taxes | $1,571 |
| Depreciation | $0 |
| Occupancy | $13,002 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $19,891 |
| Other expenses | $96,883 |
| Total operating and administrative expenses | $235,095 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $235,095 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,924 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $53,924 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |