Foundation For Independent Artists Inc
Foundation For Independent Artists Inc faces recent deficits despite historical revenue growth, with assets declining.
EIN: 133082845 · Brooklyn, NY · NTEE: A91Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.2M |
| Total Expenses | $4.0M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $3 |
| Net Assets | $1.9M |
| Transparency Score | 75/100 |
Is Foundation For Independent Artists Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Foundation For Independent Artists Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Foundation For Independent Artists Inc
Foundation For Independent Artists Inc (EIN: 133082845) is a nonprofit organization based in Brooklyn, NY, classified under NTEE code A91Z. The organization reported total revenue of $3.2M and total assets of $2.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Foundation For Independent Artists Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Foundation For Independent Artists Inc is a mid-size nonprofit that has been operating for 45 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 19.5%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.2M |
| Total Expenses | $4.0M |
| Surplus / Deficit | $-819,419 |
| Total Assets | $2.3M |
| Total Liabilities | $345K |
| Net Assets | $1.9M |
| Operating Margin | -25.7% |
| Debt-to-Asset Ratio | 15.3% |
| Months of Reserves | 6.8 months |
Financial Health Grade: B
In 2024, Foundation For Independent Artists Inc reported a deficit of $819K with expenses exceeding revenue, holds 6.8 months of operating reserves (strong position), has a debt-to-asset ratio of 15.3% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2024), Foundation For Independent Artists Inc's revenue has grown at a compound annual growth rate (CAGR) of 19.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +13.1% | +10.8% | -20.5% |
| 2023 | -39.4% | +18.7% | -23.0% |
| 2022 | +78.6% | +79.3% | +82.1% |
| 2021 | +38.9% | +3.6% | +81.3% |
| 2020 | -17.7% | -24.7% | +27.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1981 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Foundation For Independent Artists Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Foundation For Independent Artists Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $819K, with expenses exceeding revenue.
- Debt-to-asset ratio: 15.3%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers receive compensation, which is highly unusual for an organization with over $3 million in annual revenue and suggests a volunteer-led or externally funded leadership structure.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Foundation For Independent Artists Inc's IRS 990 filings:
- Expenses exceeding revenue in the two most recent fiscal periods (202306 and 202406), indicating potential financial unsustainability.
- Significant decline in assets from $3,689,287 in 202206 to $2,258,441 in 202406.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided summary data makes it difficult to fully assess spending efficiency.
Strengths
The following positive indicators were identified for Foundation For Independent Artists Inc:
- Consistent filing of IRS Form 990s over 14 periods, demonstrating strong transparency.
- Reported 0% officer compensation across all filings, indicating a commitment to minimizing executive overhead.
- Historically strong revenue growth, from $746,416 in 201506 to over $3 million in recent years.
Frequently Asked Questions about Foundation For Independent Artists Inc
Is Foundation For Independent Artists Inc a legitimate charity?
Foundation For Independent Artists Inc (EIN: 133082845) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 75/100. It has 14 years of IRS 990 filings on record. Total revenue: $3.2M. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Foundation For Independent Artists Inc spend its money?
Foundation For Independent Artists Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Foundation For Independent Artists Inc tax-deductible?
Foundation For Independent Artists Inc is registered as a tax-exempt nonprofit (EIN: 133082845). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Foundation For Independent Artists Inc CEO make?
Foundation For Independent Artists Inc's highest-compensated officer earns $3 annually. The organization reported $3.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Foundation For Independent Artists Inc's spending goes to programs?
Foundation For Independent Artists Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Foundation For Independent Artists Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Foundation For Independent Artists Inc is above average for NTEE category A91Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Foundation For Independent Artists Inc located?
Foundation For Independent Artists Inc is headquartered in Brooklyn, New York and files with the IRS under EIN 133082845. It is classified under NTEE code A91Z.
How many years of IRS 990 filings does Foundation For Independent Artists Inc have?
Foundation For Independent Artists Inc has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $3.2M in total revenue.
Why have expenses exceeded revenue in the last two fiscal periods (202306 and 202406)?
The filings show expenses of $4,006,562 against revenue of $3,187,143 in 202406, and $3,617,227 against $2,818,164 in 202306, indicating operational deficits that warrant further investigation into their financial planning and expenditure management.
What caused the significant decrease in assets from $3,689,287 in 202206 to $2,258,441 in 202406?
The organization's assets have decreased by over $1.4 million in two years, which could be due to the recent operational deficits or significant investments/dispositions not detailed in the summary data.
How does the organization sustain operations without officer compensation?
The consistent 0% officer compensation across all filings suggests a unique operational model, possibly relying on volunteer leadership, external grants covering leadership costs, or a different compensation structure not categorized as 'officer compensation' on the 990.
Filing History
IRS 990 filing history for Foundation For Independent Artists Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Foundation For Independent Artists Inc's revenue has grown by 913.3%, moving from $315K to $3.2M. Total assets increased by 8173% over the same period, from $27K to $2.3M. Total functional expenses rose by 1149.3%, from $321K to $4.0M. In its most recent filing year (2024), Foundation For Independent Artists Inc reported a deficit of $819K, with expenses exceeding revenue. The organization holds $345K in liabilities against $2.3M in assets (debt-to-asset ratio: 15.3%), resulting in net assets of $1.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $3.2M | $4.0M | $2.3M | $345K | — | View 990 |
| 2023 | $2.8M | $3.6M | $2.8M | $109K | — | — |
| 2022 | $4.6M | $3.0M | $3.7M | $117K | — | View 990 |
| 2021 | $2.6M | $1.7M | $2.0M | $54K | — | View 990 |
| 2020 | $1.9M | $1.6M | $1.1M | $50K | — | View 990 |
| 2019 | $2.3M | $2.2M | $874K | $40K | — | View 990 |
| 2018 | $1.5M | $1.2M | $767K | $32K | — | View 990 |
| 2017 | $1.3M | $1.2M | $378K | $17K | — | View 990 |
| 2016 | $959K | $993K | $387K | $29K | — | View 990 |
| 2015 | $746K | $478K | $427K | $36K | — | View 990 |
| 2014 | $471K | $432K | $129K | $6K | — | View 990 |
| 2013 | $201K | $231K | $86K | $2K | — | View 990 |
| 2012 | $312K | $214K | $114K | $509 | — | View 990 |
| 2011 | $315K | $321K | $27K | $12K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $3.2M, expenses of $4.0M, and assets of $2.3M (revenue +13.1% year-over-year).
- 2023: Revenue of $2.8M, expenses of $3.6M, and assets of $2.8M (revenue -39.4% year-over-year).
- 2022: Revenue of $4.6M, expenses of $3.0M, and assets of $3.7M (revenue +78.6% year-over-year).
- 2021: Revenue of $2.6M, expenses of $1.7M, and assets of $2.0M (revenue +38.9% year-over-year).
- 2020: Revenue of $1.9M, expenses of $1.6M, and assets of $1.1M (revenue -17.7% year-over-year).
- 2019: Revenue of $2.3M, expenses of $2.2M, and assets of $874K (revenue +47.6% year-over-year).
- 2018: Revenue of $1.5M, expenses of $1.2M, and assets of $767K (revenue +23.3% year-over-year).
- 2017: Revenue of $1.3M, expenses of $1.2M, and assets of $378K (revenue +30.4% year-over-year).
- 2016: Revenue of $959K, expenses of $993K, and assets of $387K (revenue +28.5% year-over-year).
- 2015: Revenue of $746K, expenses of $478K, and assets of $427K (revenue +58.3% year-over-year).
- 2014: Revenue of $471K, expenses of $432K, and assets of $129K (revenue +134.8% year-over-year).
- 2013: Revenue of $201K, expenses of $231K, and assets of $86K (revenue -35.7% year-over-year).
- 2012: Revenue of $312K, expenses of $214K, and assets of $114K (revenue -0.7% year-over-year).
- 2011: Revenue of $315K, expenses of $321K, and assets of $27K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Foundation For Independent Artists Inc:
Data Sources and Methodology
This transparency report for Foundation For Independent Artists Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.