National Foundation for Advancement in the Arts
Meets Standards
Standards For Charity Accountability
Governance
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Board Oversight
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Board Size
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Board Meetings
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Board Compensation
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Conflict of Interest
Measuring Effectiveness
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Effectiveness Policy
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Effectiveness Report
Finances
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Program Expenses
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Fundraising Expenses
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Accumulating Funds
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Audit Report
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Detailed Expense Breakdown
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Accurate Expense Reporting
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Budget Plan
Fundraising & Info
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Truthful Materials
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Annual Report
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Website Disclosures
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Donor Privacy
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Cause Marketing Disclosures
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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).
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This report is not to be used for fundraising or promotional purposes.
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Meets Standards
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Standards Not Met
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Did Not Disclose
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Review in Progress
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Unable to Verify
Report completed by:
BBB Wise Giving Alliance