New Wave Artist Residency Inc (EIN 861297241) - 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

2021

Legal Domicile

Principal Officer

Sarah Gavlak

Phone

5618330583

Tax Period

2024-01-01 to 2024-12-31

New Wave Artist Residency Inc, founded in 2021, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $92K in total revenue in fiscal year 2024. Revenue fell 66% from the prior year — a significant decline worth monitoring. Expenses of $303K exceeded revenue, resulting in a 230% operating deficit.

Mission

To engage and inspire the West Palm Beach, Florida community and the world through public programs and residencies in support of local, national, and international under-represented artists.

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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 $157,744

Program Service Revenue $0

Investment Income $2,383

Other Revenue $-68,200

TOTAL REVENUE $91,927

Expense Breakdown

Grants Paid $18,175

Salaries & Benefits $38,000

Fundraising Expenses $26,081

Program Expenses $253,372

Other Expenses $247,073

TOTAL EXPENSES $303,248

Year-over-Year Comparison

	2024	2023	Change
Revenue	$91,927	$269,185	-0.7%
Expenses	$303,248	$267,021	+0.1%
Net Income	$-211,321	$2,164	-98.7%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Sarah Gavlak	Chair	4.00	Officer Director	$0	$0	$0
Barry Blumberg	President	2.00	Officer Director	$0	$0	$0
Beth Rudin DeWoody	Director	1.00	Director	$0	$0	$0
Rena Blades	Secretary	10.00	Officer Director	$0	$0	$0
Gopal Rajepowda	Treasurer	1.00	Officer Director	$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
2024	$91,927	$303,248	$170,628	$-211,321
2023	$269,185	$267,021	$370,026	$2,164
2022	$269,830	$195,298	$398,333	$74,532
2021	$338,355	$61,426	$307,326	$276,929

New Wave Artist Residency Inc