NEW YORK FOUNDATION FOR THE ARTS I… - Form 990 Financial Data

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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

1971

Legal Domicile

Principal Officer

MICHAEL L ROYCE

Phone

2123666900

Tax Period

2023-07-01 to 2024-06-30

NEW YORK FOUNDATION FOR THE ARTS INC, founded in 1971, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $16.0M in total revenue in fiscal year 2023. The organization ran a surplus of $2.5M, a strong 16% operating margin.

Mission

ESTABLISHED IN 1971, THE MISSION OF THE NEW YORK FOUNDATION FOR THE ARTS (NYFA) IS TO EMPOWER ARTISTS IN ALL DISCIPLINES, AS WELL AS CULTURAL WORKERS, TO ACHIEVE SUCCESS ON THEIR OWN TERMS BY PROVIDING CRITICAL SUPPORT, RESOURCES, AND OPPORTUNITIES. NYFA ENVISIONS A WORLD WHERE ARTISTS THRIVE IN THE PRACTICE AND EXPRESSION OF THEIR CREATIVE WORK, A WORLD THAT CELEBRATES AND SUPPORTS THEM. OUR WORK CENTERS ON DIVERSITY, EQUITY, INCLUSION, AND ACCESSIBILITY, WHICH IS SERVED THROUGH FOUR FLAGSHIP PROGRAMS: LEARNING, AWARDS & GRANTS, FISCAL SPONSORSHIP, AND ONLINE RESOURCES. WE SERVE APPROXIMATELY 1 MILLION CONSTITUENTS IN PERSON AND ONLINE, ANNUALLY.

Program Service Accomplishments

Program 1

Expenses: $5,376,018 Revenue: $570,918

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 UPCOMING FILMS, THEATRICAL PERFORMANCES, ART INSTALLATIONS, AND OTHER PROJECTS.

Program 2

Expenses: $1,157,135 Revenue: $0

NYC MADE IN NY WOMEN'S FILM: THE NYC WOMEN'S FUND FOR MEDIA, MUSIC, AND THEATRE ("WOMEN'S FUND"), ADMINISTERED BY THE NEW YORK FOUNDATION FOR THE ARTS (NYFA) IN PARTNERSHIP WITH THE CITY OF NEW YORK MAYOR'S OFFICE OF MEDIA AND ENTERTAINMENT (MOME), IS PART OF A GROUNDBREAKING SERIES OF INITIATIVES THAT ADDRESS THE UNDERREPRESENTATION OF WOMEN IN FILM, MUSIC, TELEVISION, AND THEATRE. THE FUND PROVIDES GRANTS TO ENCOURAGE AND SUPPORT THE CREATION OF CONTENT THAT REFLECT THE VOICES AND PERSPECTIVES OF ALL WHO IDENTIFY AS WOMEN.

Program 3

Expenses: $866,170 Revenue: $140,772

NYFA LEARNING: NYFA LEARNING PROVIDES ARTISTS WITH PROFESSIONAL DEVELOPMENT OPPORTUNITIES. THESE OPPORTUNITIES ARE PROVIDED THROUGH WORKSHOPS, MENTORING PROGRAMS, NETWORKING EVENTS, COLLABORATIONS...

NYFA LEARNING: NYFA LEARNING PROVIDES ARTISTS WITH PROFESSIONAL DEVELOPMENT OPPORTUNITIES. THESE OPPORTUNITIES ARE PROVIDED THROUGH WORKSHOPS, MENTORING PROGRAMS, NETWORKING EVENTS, COLLABORATIONS, AND A VARIETY OF RESOURCES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $14,268,608

Program Service Revenue $1,784,345

Investment Income $39,005

Other Revenue $-46,584

TOTAL REVENUE $16,045,374

Expense Breakdown

Grants Paid $9,156,995

Salaries & Benefits $2,865,237

Fundraising Expenses $757,375

Program Expenses $11,854,293

Other Expenses $1,503,599

TOTAL EXPENSES $13,525,831

Year-over-Year Comparison

	2023	2022	Change
Revenue	$16,045,374	$15,086,974	+0.1%
Expenses	$13,525,831	$15,580,055	-0.1%
Net Income	$2,519,543	$-493,081	-6.1%

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

$616,391

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARC J JASON	CHAIR	5.00	Officer Director	$0	$0	$0
J WESLEY MCDADE	VICE CHAIR	5.00	Officer Director	$0	$0	$0
J WHITNEY STEVENS	SECRETARY	5.00	Officer Director	$0	$0	$0
MYRNA CHAO	TREASURER	5.00	Officer Director	$0	$0	$0
FEDERICO ACUNA	BOARD MEMBER	2.00	Director	$0	$0	$0
JOE BAKER	BOARD MEMBER	2.00	Director	$0	$0	$0
CAROLINE BLACK	BOARD MEMBER	2.00	Director	$0	$0	$0
LESLIE BOYCE	BOARD MEMBER	2.00	Director	$0	$0	$0
ALEXANDRA CHASIN	BOARD MEMBER	2.00	Director	$0	$0	$0
ANNA DEAVERE SMITH	BOARD MEMBER, THRU 10/2023	2.00	Director	$0	$0	$0
ALESSANDRA DIGIUSTO	BOARD MEMBER	2.00	Director	$0	$0	$0
CHRISTOPHER DONINI	BOARD MEMBER	2.00	Director	$0	$0	$0
MICHAEL FINDLAY	BOARD MEMBER	2.00	Director	$0	$0	$0
LESLEY-ANNE GLIEDMAN	BOARD MEMBER	2.00	Director	$0	$0	$0
GRACE ANGELA HENRY	BOARD MEMBER	2.00	Director	$0	$0	$0
EUNBI KIM	BOARD MEMBER	2.00	Director	$0	$0	$0
MARY LANG	BOARD MEMBER	2.00	Director	$0	$0	$0
RICARDO ALBERTO MALDONADO	BOARD MEMBER, THRU 1/2024	2.00	Director	$0	$0	$0
CHRISTOPHER RUDD	BOARD MEMBER	2.00	Director	$0	$0	$0
SAID SAYREFIEZADEH	BOARD MEMBER	2.00	Director	$0	$0	$0
JUSTIN TOBIN	BOARD MEMBER	2.00	Director	$0	$0	$0
CARMELITA TROPICANA	BOARD MEMBER	2.00	Director	$0	$0	$0
LUIS H VALDERAS	BOARD MEMBER	2.00	Director	$0	$0	$0
ELIZABETH VON HABSBURG	BOARD MEMBER	2.00	Director	$0	$0	$0
SARAH YOUNG O'DONNELL	BOARD MEMBER	2.00	Director	$0	$0	$0
MICHAEL L ROYCE	CHIEF EXECUTIVE OFFICER	60.00	Officer	$430,586	$19,852	$450,438
SEBASTIANO VITALE DIRECTOR	OF FINANCE & ADMINISTRATION	50.00	Officer	$145,214	$20,739	$165,953
FRED HUMPHREY	CHIEF OPERATING OFFICER	40.00	Highest	$109,910	$8,189	$118,099
LINDSAY SMILOW	DIRECTOR OF DEVELOPMENT	40.00	Highest	$101,450	$473	$101,923
MOHAMMAD USMAN	DIRECTOR OF TECHNOLOGIES	40.00	Highest	$106,986	$0	$106,986

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	No data	No data	No data	No data
2024	$16,045,374	$13,525,831	$17,967,722	$2,519,543
2023	$15,086,974	$15,580,055	$14,671,798	$-493,081
2022	$30,608,340	$28,190,863	$12,251,951	$2,417,477
2021	$10,995,267	$9,680,430	$8,779,392	$1,314,837
2020	$10,665,982	$10,553,673	$9,170,806	$112,309
2019	$8,519,683	$8,471,030	$6,090,298	$48,653
2018	$7,727,232	$8,199,259	$5,516,742	$-472,027

NEW YORK FOUNDATION FOR THE ARTS INC