New York Foundation For The Arts Inc
- Assets
- $8.8m
- Revenue
- $11.0m
- Investments
- $0.0
- Employees
- 28
- Location
- Brooklyn, NY
- Founding
- 07/1994
- Data as of
- 06/2021
- EIN
- 23-7129564
Organization Overview
New York Foundation For The Arts Inc, operating under the name Nyfa, is located in Brooklyn, NY. The organization was established in 1994. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Nyfa employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nyfa 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, Nyfa generated $11.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $9.7m during the year ending 06/2021. While expenses have increased by 2.1% per year over the past 6 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.
Since 2015, Nyfa has awarded 107 individual grants totaling $3,952,398. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EMPOWER ARTISTS AT CRITICAL STAGES IN THEIR CREATIVE LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FISCAL SPONSORSHIPS: SINCE 1976, NYFA HAS PROVIDED FISCAL SPONSORSHIPS TO INDIVIDUAL ARTISTS AND EMERGING ORGANIZATIONS, MAKING IT THE OLDEST PROGRAM OF ITS KIND IN THE COUNTRY. IT MAKES IT POSSIBLE FOR INDIVIDUALS AND ORGANIZATIONS WITHOUT NOT-FOR-PROFIT STATUS TO RAISE FUNDS FOR UPCOMINGS FILMS, THEATRICAL PERFORMANCES, ART INSTALLATIONS AND OTHER PROJECTS.
ARTIST FELLOWSHIPS: IN 1984, NYFA WAS SELECTED BY THE NEW YORK STATE COUNCIL ON THE ARTS TO ADMINISTER THE STATE'S ARTISTS' FELLOWSHIPS. THE PROGRAM HAS SINCE EXPANDED TO AWARD DIRECT GRANTS OF $7,000 EACH TO APPROXIMATELY 90 NEW YORK STATE ARTISTS EACH YEAR. THESE FELLOWSHIPS ARE ARTIST CENTERED AND ALLOW ARTISTS THE FREEDOM TO USE THE GRANT IN WHATEVER MANNER IT WILL HAVE THE GREATEST IMPACT ON THEIR CREATIVE LIVES.
NYFA ON-LINE RESOURCES: NYFA'S ON-LINE RESOURCES INCLUDES SOURCE AN CLASSIFIEDS. NYFA'S SOURCE SECTION OF ITS WEBSITE IS VISITED BY ONE MILLION PLUS USERS EACH YEAR. SOURCE PROVIDES AN INFORMATIONAL DATA BASE, WHICH INCLUDES OPPORTUNITIES, SUCH AS GRANTS, RESIDENCIES, GALLERY SPACE, AND SEVERAL OTHER RESOURCES FOR ARTISTS AND ARTS ORGANIZATIONS. NYFA'S CLASSIFIEDS IS ANOTHER RESOURCE FOR THE ARTIST COMMUNITY TO ADVERSTISE GALLERY SPACE, EXHIBITIONS, JOB OPENINGS AND BANNER ADS. NYFA CLASSIFIEDS POSTS SEVERAL THOUSAND ADS PER YEAR. GALLERY SPACE, EXHIBITIONS, JOB OPENINGS AND BANNER ADS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael L Royce Executive Director | Officer | 50 | $373,307 |
Katherine Rabinovich-Delaney Director Of Development | 45 | $123,912 | |
Sebi Vitale Director Of Finance & Administ | Officer | 50 | $104,239 |
Shawna Chase Director Of Product | 40 | $103,344 | |
J Whitney Stevens Secretary | OfficerTrustee | 5 | $0 |
J Wesley Mcdade Vice Chair | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $149,888 |
| Related organizations | $0 |
| Government grants | $2,051,890 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,663,714 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,865,492 |
| Total Program Service Revenue | $1,000,202 |
| Investment income | $43,408 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $18,396 |
| Net Gain/Loss on Asset Sales | $82,051 |
| Net Income from Fundraising Events | -$14,282 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,995,267 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $341,783 |
| Grants and other assistance to domestic individuals. | $6,337,882 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $495,091 |
| Compensation of current officers, directors, key employees. | $179,237 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,163,720 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $180,401 |
| Payroll taxes | $96,277 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $37,599 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $81,912 |
| Advertising and promotion | $0 |
| Office expenses | $252,543 |
| Information technology | $95,890 |
| Royalties | $0 |
| Occupancy | $412,046 |
| Travel | $4,902 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $233 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $106,965 |
| Insurance | $16,812 |
| All other expenses | $0 |
| Total functional expenses | $9,680,430 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,456,392 |
| Savings and temporary cash investments | $2,898,736 |
| Pledges and grants receivable | $508,611 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $95,152 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $47,174 |
| Net Land, buildings, and equipment | $85,926 |
| Investments—publicly traded securities | $2,681,209 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,192 |
| Total assets | $8,779,392 |
| Accounts payable and accrued expenses | $165,362 |
| Grants payable | $0 |
| Deferred revenue | $1,467,028 |
| 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 | $1,149,617 |
| Total liabilities | $2,782,007 |
| Net assets without donor restrictions | $1,669,196 |
| Net assets with donor restrictions | $4,328,189 |
| 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 | $8,779,392 |
Grants Awarded
Over the last fiscal year, New York Foundation For The Arts Inc has awarded $341,783 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: Fiscal Sponsorship | $78,165 |
New York, NY PURPOSE: Fiscal Sponsorship | $49,930 |
PARTHENIA PURPOSE: FISCAL SPONSORSHIP | $44,338 |
Brooklyn, NY PURPOSE: Fiscal Sponsorship | $43,145 |
MINERVA FOUNDATION FOR FIGURE DRAWING PURPOSE: Fiscal Sponsorship | $40,662 |
New York, NY PURPOSE: Fiscal Sponsorship | $37,533 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that New York Foundation For The Arts Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Square Table Foundation New York, NY PURPOSE: GENERAL PURPOSES | $25,000 |
Endowment Analysis
| Beg. Balance | $719,891 |
| Earnings | $93,272 |
| Net Contributions | $4,588 |
| Grants | $11,000 |
| Ending Balance | $806,751 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Democracy Prep Public Schools New York, NY | $18,413,140 | $22,499,463 |
Theatre Development Fund Inc New York, NY | $10,654,511 | $12,739,705 |
New England Foundation For The Arts Inc Boston, MA | $37,132,144 | $19,074,510 |
New York Foundation For The Arts Inc Brooklyn, NY | $8,779,392 | $10,995,267 |
Moving Picture Institute New York, NY | $5,367,184 | $7,460,439 |
Liz Claiborne & Art Ortenberg Foundation New York, NY | $208,358,667 | $11,296,700 |
Pseg Foundation Inc Newark, NJ | $49,926,270 | $78,342 |
United Way Of Lancaster County Lancaster, PA | $8,532,432 | $6,314,775 |
Art Of Problem Solving Initiative Inc New York, NY | $11,649,838 | $7,944,885 |
Performance Zone Inc New York, NY | $3,205,718 | $5,815,345 |
America-Israel Cultural Foundation Inc New York, NY | $5,736,559 | $3,348,442 |
Music Performance Trust Fund New York, NY | $10,128,887 | $4,587,841 |