NATIONAL FOUNDATION FOR ADVANCEMEN… - 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

1981

Legal Domicile

Principal Officer

CLIVE CHANG

Phone

3053771140

Tax Period

2023-07-01 to 2024-06-30

NATIONAL FOUNDATION FOR ADVANCEMENT IN THE ARTS INC, founded in 1981, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $12.4M in total revenue in fiscal year 2023. Expenses of $12.0M left a modest 3% surplus.

Mission

THE MISSION OF THE NATIONAL FOUNDATION FOR ADVANCEMENT IN THE ARTS, INC. DBA YOUNGARTS IS TO IDENTIFY EXCEPTIONAL YOUNG ARTISTS, AMPLIFY THEIR POTENTIAL AND INVEST IN THEIR LIFELONG CREATIVE FREEDOM.

Program Service Accomplishments

Program 1

Expenses: $3,282,125 Revenue: $284,469

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...

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 9,000 APPLICANTS SUBMIT FOR THE YOUNGARTS COMPETITION. IN FY2024, 695 ARTISTS ORIGINATING FROM ACROSS THE COUNTRY WERE SELECTED AT THE FINALIST, HONORABLE MENTION AND MERIT AWARD LEVELS. WITHIN THIS TOTAL POOL, 695 CASH AWARDS WERE GRANTED, FOR A TOTAL OF $668,500 IN AWARDS. (CONTINUED ON SCHEDULE O).

Program 2

Expenses: $1,064,796 Revenue: $0

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...

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 RESIDENCIES, PERFORMANCE AND EXHIBITION OPPORTUNITIES, 1:1 MENTORSHIPS, AND DISCIPLINE-SPECIFIC AND SKILLS-BASED TRAINING WORKSHOPS (CONTINUED ON SCHEDULE O).

Program 3

Expenses: $483,000 Revenue: $0

PAST WINNERS RECEIVED ACCESS TO MICROGRANTS FOR CREATIVE PROJECT SUPPORT OR EMERGENCY RELIEF. 264 CREATIVE MICROGRANTS AND 65 EMERGENCY MICROGRANTS WERE AWARDED.

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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 $11,497,477

Program Service Revenue $284,469

Investment Income $1,241,708

Other Revenue $-619,619

TOTAL REVENUE $12,404,035

Expense Breakdown

Grants Paid $1,342,958

Salaries & Benefits $4,986,218

Fundraising Expenses $1,342,932

Program Expenses $9,790,063

Other Expenses $5,642,834

TOTAL EXPENSES $11,972,010

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,404,035	$11,956,692	+0.0%
Expenses	$11,972,010	$10,143,410	+0.2%
Net Income	$432,025	$1,813,282	-0.8%

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

$813,970

Total Directors

Key Employees

$680,210

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CLIVE CHANG	PRESIDENT	40.0	Officer	$569,242	$7,195	$576,437
TERESA D SIDES	VP OF ADVANCEMENT	40.0	Key Emp	$269,332	$84	$269,416
TANYA REID	VP of FINANCE & OPERATIONS	40.0	Officer	$220,338	$17,195	$237,533
REBEKAH LENGEL	VP of STRATEGY & INNOVATION	40.0	Key Emp	$202,348	$14,707	$217,055
JOSYBEL MARTINEZ	VP of EQUITY, PEOPLE & CULTURE	40.0	Key Emp	$177,808	$15,931	$193,739
ANGELA GODING	SENIOR DIR., STRATEGIC P'SHIPS	40.0	Highest	$169,299	$8,374	$177,673
CHRISTOPHER WILLIAMS	DIRECTOR OF FINANCE	40.0	Highest	$143,130	$26,016	$169,146
LEE S COHEN HARE	CREATIVE DIRECTOR	40.0	Highest	$134,434	$14,241	$148,675
SARAH GRAY	DIR. OF INSTITUTIONAL GIVING	40.0	Highest	$123,985	$11,540	$135,525
LISA LEONE	CREATIVE PRODUCER	40.0	Highest	$111,059	$13,693	$124,752
RICH KOHAN	PRESIDENT OF THE BOARD	5.0	Officer Director	$0	$0	$0
SARAH ARISON	BOARD CHAIR	5.0	Officer Director	$0	$0	$0
NATALIE DIGGINS	SEC. (THRU 11/23); TRUSTEE	1.0	Officer Director	$0	$0	$0
ZUZANNA SZADKOWSKI	SEC. (AS OF 11/23); TRUSTEE	1.0	Officer Director	$0	$0	$0
DERRICK ADAMS	TRUSTEE	1.0	Director	$0	$0	$0
DOUG BLUSH	TRUSTEE	1.0	Director	$0	$0	$0
HAMPTON CARNEY	TRUSTEE	1.0	Director	$0	$0	$0
LINDA COLL	TRUSTEE	1.0	Director	$0	$0	$0
KRISTY EDMUNDS	TRUSTEE	1.0	Director	$0	$0	$0
JONATHAN FLACK	TRUSTEE	1.0	Director	$0	$0	$0
DANIELLE GARNO	TRUSTEE	1.0	Director	$0	$0	$0
ROSIE GORDON-WALLACE	TRUSTEE	1.0	Director	$0	$0	$0
MICHI JIGARJIAN	TRUSTEE	1.0	Director	$0	$0	$0
JASON KRAUS	TRUSTEE	1.0	Director	$0	$0	$0
STEVEN MARKS	TRUSTEE	1.0	Director	$0	$0	$0
LAUREN MATTHIESEN	TRUSTEE	1.0	Director	$0	$0	$0
MICHAEL MCELROY	TRUSTEE	1.0	Director	$0	$0	$0
DR JOAN MORGAN	TRUSTEE	1.0	Director	$0	$0	$0
JOHN JACK O'NEIL	TRUSTEE	1.0	Director	$0	$0	$0
GLENDA PEDROSO	TRUSTEE	1.0	Director	$0	$0	$0
VICTORIA ROGERS	TRUSTEE	1.0	Director	$0	$0	$0
JEAN SHIN	TRUSTEE	1.0	Director	$0	$0	$0
SANDRA TAMER	TRUSTEE	1.0	Director	$0	$0	$0
MAURICE ZARMATI	TRUSTEE	1.0	Director	$0	$0	$0
RICHARD WAGMAN	TREASURER	2.0	Officer	$0	$0	$0

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	$12,404,035	$11,972,010	$60,477,417	$432,025
2023	$11,956,692	$10,143,410	$56,119,714	$1,813,282
2022	$12,328,830	$8,432,319	$53,586,119	$3,896,511
2021	$13,120,444	$8,136,994	$60,834,688	$4,983,450
2020	$10,734,282	$10,240,524	$50,979,933	$493,758
2019	$11,735,771	$10,680,695	$49,825,036	$1,055,076
2018	$12,761,347	$9,846,385	$47,977,312	$2,914,962

NATIONAL FOUNDATION FOR ADVANCEMENT IN THE ARTS INC