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CHARITY REVIEW
Issued: December 2025 Expires: December 2027

National Foundation for Advancement in the Arts

Accredited Charity
Accredited Charity

Meets Standards
(800) 970-2787
2100 Biscayne Boulevard
Miami, FL, 33137
https://youngarts.org/
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Standards For Charity Accountability

Governance

  1. Board Oversight
  2. Board Size
  3. Board Meetings
  4. Board Compensation
  5. Conflict of Interest

Measuring Effectiveness

  1. Effectiveness Policy
  2. Effectiveness Report

Finances

  1. Program Expenses
  2. Fundraising Expenses
  3. Accumulating Funds
  4. Audit Report
  5. Detailed Expense Breakdown
  6. Accurate Expense Reporting
  7. Budget Plan

Fundraising & Info

  1. Truthful Materials
  2. Annual Report
  3. Website Disclosures
  4. Donor Privacy
  5. Cause Marketing Disclosures
  6. Complaints

National Foundation for Advancement in the Arts meets the 20 Standards for Charity Accountability.

Stated Purpose:
"to identify exceptional young artists, amplify their potential, and invest in their lifelong creative freedom."

Year, State Incorporated:
1981, FL

Also Known As:
YoungArts

National Foundation for Advancement in the Arts (YoungArts) reports that it provides artists with encouragement, connections, and resources for resilient and sustainable careers. Through annual programs, performances, and partnerships with cultural institutions, YoungArts aims to create a community of alumni and a platform for a lifetime of opportunity and support. The organization's main program is an application-based award for emerging artists ages 15-18. Selected through a blind adjudication process, the winners receive support, including financial awards, professional development, and mentorship opportunities.

For the year ended June 30, 2024, National Foundation for Advancement in the Arts's program expenses were:

Program services $11,946,075
Total Program Expenses $11,946,075

Chief Executive
Clive Chang, President and Chief Executive Officer

Compensation*
$576,437

Chair of the Board
Sarah Arison

Chair's Profession / Business Affiliation
President, Arison Arts Foundation

Board Size
25

Paid Staff Size
38

*2023 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.

Method(s) Used:
Direct mail appeals, Invitations to fund raising events, Grant proposals, Internet, Planned giving arrangements

Fundraising costs were 16% of related contributions. (Related contributions, which totaled $13,435,063, are donations received as a result of fundraising activities.)

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.

The following information is based on National Foundation for Advancement in the Arts's audited financial statements - consolidated for the year ended June 30, 2024.

Source of Funds
Contributions $11,341,703
Investment gains, net $4,554,076
Special events $2,072,900
Government grants $359,871
Application fees $271,311
Other revenues and gains, net $50,329
In-kind contributions $20,460
Total Income $18,670,650

Programs: 79% Fundraising: 14% Administrative: 7%

Total Income $18,670,650
Total expenses: $15,129,343
  Program expenses $11,946,075
  Fundraising expenses $2,109,270
  Administrative expenses $1,073,998
  Other expenses $0
Income in Excess of Expenses $3,541,307
Beginning Net Assets $82,462,209
Other Changes In Net Assets $0
Ending Net Assets $86,003,516
Total Liabilities $824,081
Total Assets $86,827,597

Note: According to the organization’s audited financial statements - consolidated - for the year ended June 30, 2024, YoungArts received in-kind gifts totaling $20,460 in the form of professional services ($19,656) and goods ($804).

An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.

This report is not to be used for fundraising or promotional purposes.

RELATED CONTENT

Report completed by:
BBB Wise Giving Alliance