NEW ENGLAND FOUNDATION FOR THE ARTS INCORPORATED (EIN 042593591) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1969

Legal Domicile

Principal Officer

STEVEN FENTON

Phone

6179510010

Tax Period

2024-06-01 to 2025-05-31

NEW ENGLAND FOUNDATION FOR THE ARTS INCORPORATED, founded in 1969, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $10.4M in total revenue in fiscal year 2024. Revenue fell 46% from the prior year — a significant decline worth monitoring. Expenses of $13.8M exceeded revenue, resulting in a 33% operating deficit.

Mission

NEFA INVESTS IN ARTISTS AND COMMUNITIES AND FOSTERS EQUITABLE ACCESS TO THE ARTS, ENRICHING THE CULTURAL LANDSCAPE IN NEW ENGLAND AND THE NATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $9,756,741

Program Service Revenue $7,030

Investment Income $597,644

Other Revenue $0

TOTAL REVENUE $10,361,415

Expense Breakdown

Grants Paid $7,442,824

Salaries & Benefits $3,607,351

Fundraising Expenses $327,926

Program Expenses $11,148,254

Other Expenses $2,718,112

TOTAL EXPENSES $13,768,287

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,361,415	$19,173,253	-0.5%
Expenses	$13,768,287	$11,869,972	+0.2%
Net Income	$-3,406,872	$7,303,281	-1.5%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$688,104

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CARRIE ZASLOW	CHAIR	1.50	Officer Director	$0	$0	$0
FRANK MITCHELL	TREASURER	1.50	Officer Director	$0	$0	$0
IVAN ESPINOZA-MADRIGAL	SECRETARY	1.50	Officer Director	$0	$0	$0
DAWN GIBSON-BREHON	DIRECTOR	1.50	Director	$0	$0	$0
AMY HAUSMANN	DIRECTOR (AS OF 08/24)	1.50	Director	$0	$0	$0
JOHN E HENRY	DIRECTOR	1.50	Director	$0	$0	$0
ERINN R KING	DIRECTOR	1.50	Director	$0	$0	$0
ANGIE LANE	DIRECTOR	1.50	Director	$0	$0	$0
SUSAN EVANS MCCLURE	DIRECTOR	1.50	Director	$0	$0	$0
CHIP NEWELL	DIRECTOR	1.50	Director	$0	$0	$0
CHRIS NEWELL	DIRECTOR	1.50	Director	$0	$0	$0
ELIZABETH SHAPIRO	DIRECTOR	1.50	Director	$0	$0	$0
ADELE SICILIA	DIRECTOR	1.50	Director	$0	$0	$0
JUG CHOKSHI	CHIEF OPERATING OFFICER (UNTIL 10/24)	40.00	Officer	$141,655	$35,978	$177,633
STEVEN FENTON	CHIEF OPERATING OFFICER	40.00	Officer	$123,183	$16,717	$139,900
HAROLD STEWARD	EXECUTIVE DIRECTOR	40.00	Officer	$219,898	$18,615	$238,513
JOSEPH SWEENEY	FINANCE DIRECTOR	40.00	Officer	$115,923	$16,135	$132,058
JANE PRESTON	DEPUTY DIRECTOR, PROGRAMS	40.00	Highest	$151,465	$19,658	$171,123
ADRIENNE PETRILLO	SR. PROGRAM DIRECTOR	40.00	Highest	$113,587	$19,647	$133,234
DIANA SCHNEIDMAN	SR. PROGRAM DIRECTOR	40.00	Highest	$113,414	$16,735	$130,149
INDIRA GOODWINE	SR. PROGRAM DIRECTOR	40.00	Highest	$111,178	$18,536	$129,714
ABIGAIL SOUTHWELL	TECHNOLOGY & DATA DIRECTOR	40.00	Highest	$106,663	$35,377	$142,040

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$10,361,415	$13,768,287	$40,261,943	$-3,406,872
2024	$19,173,253	$11,869,972	$42,376,608	$7,303,281
2023	$6,163,384	$10,703,072	$32,984,513	$-4,539,688
2022	$19,074,510	$10,991,369	$37,132,144	$8,083,141
2021	$8,248,440	$10,806,075	$29,668,334	$-2,557,635
2020	$10,907,036	$8,574,418	$27,972,047	$2,332,618
2019	$10,027,673	$9,541,172	$24,620,567	$486,501
2018	$7,316,987	$7,452,968	$24,660,543	$-135,981
2018	$7,204,558	$7,568,729	$24,665,801	$-364,171

NEW ENGLAND FOUNDATION FOR THE ARTS INCORPORATED