Nova Arts Foundation Inc
Nova Arts Foundation Inc consistently operates at a deficit, with liabilities significantly exceeding assets.
EIN: 132941045 · Kailua, HI · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $233K |
| Total Expenses | $356K |
| Program Spending | 70% |
| Net Assets | $-63,112 |
| Transparency Score | 45/100 |
Is Nova Arts Foundation Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Nova Arts Foundation Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Nova Arts Foundation Inc
Nova Arts Foundation Inc (EIN: 132941045) is a nonprofit organization based in Kailua, HI. The organization reported total revenue of $233K and total assets of $83K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Nova Arts Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Nova Arts Foundation Inc is a small nonprofit that has been operating for 46 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 2.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $327K |
| Total Expenses | $356K |
| Surplus / Deficit | $-28,689 |
| Total Assets | $124K |
| Total Liabilities | $187K |
| Net Assets | $-63,112 |
| Operating Margin | -8.8% |
| Debt-to-Asset Ratio | 151.0% |
| Months of Reserves | 4.2 months |
Financial Health Grade: C
In 2023, Nova Arts Foundation Inc reported a deficit of $29K with expenses exceeding revenue, holds 4.2 months of operating reserves (adequate), has a debt-to-asset ratio of 151.0% (high leverage).
Financial Trends
Over 14 years of filings (2010–2023), Nova Arts Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +73.8% | +81.2% | +54.7% |
| 2022 | +81.6% | +38.1% | -8.2% |
| 2021 | -21.2% | +2.1% | -32.7% |
| 2020 | -34.0% | -34.0% | +582.7% |
| 2019 | -35.9% | -15.2% | -61.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1980 |
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 Nova Arts Foundation Inc with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Nova Arts Foundation Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $29K, with expenses exceeding revenue.
- Debt-to-asset ratio: 151.0%.
Executive Compensation Analysis
No officer compensation has been reported in any of the available filings, which is a positive sign for minimizing overhead related to executive pay and suggests a volunteer-driven or very lean 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 Nova Arts Foundation Inc's IRS 990 filings:
- Consistent operational deficits (e.g., $355,936 expenses vs. $327,247 revenue in 2023)
- Liabilities consistently exceed assets (e.g., $186,764 liabilities vs. $123,652 assets in 2023)
- Volatile revenue stream without clear growth trend
- Negative net asset position across multiple years
Strengths
The following positive indicators were identified for Nova Arts Foundation Inc:
- No reported officer compensation, indicating low executive overhead
- Long filing history (14 filings) suggests consistent compliance with IRS reporting
Frequently Asked Questions about Nova Arts Foundation Inc
Is Nova Arts Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Nova Arts Foundation Inc (EIN: 132941045) significant concerns. Mission Score: 45/100. 4 red flags identified, 2 strengths noted.
How does Nova Arts Foundation Inc spend its money?
Nova Arts Foundation Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Nova Arts Foundation Inc tax-deductible?
Nova Arts Foundation Inc is registered as a tax-exempt nonprofit (EIN: 132941045). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Nova Arts Foundation Inc's spending goes to programs?
Nova Arts Foundation Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Nova Arts Foundation Inc located?
Nova Arts Foundation Inc is headquartered in Kailua, Hawaii and files with the IRS under EIN 132941045.
How many years of IRS 990 filings does Nova Arts Foundation Inc have?
Nova Arts Foundation 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 $233K in total revenue.
Is Nova Arts Foundation Inc financially stable?
Based on the provided data, Nova Arts Foundation Inc does not appear financially stable. It has consistently reported expenses exceeding revenue in most years, leading to operational deficits. Furthermore, its liabilities have significantly outweighed its assets in every reported period, indicating a negative net asset position and potential long-term solvency concerns.
What is the trend in Nova Arts Foundation Inc's revenue?
Revenue for Nova Arts Foundation Inc has fluctuated significantly over the past decade. It saw a peak of $371,412 in 2015, dipped to $103,726 in 2021, and then rebounded to $327,247 in 2023. There isn't a clear consistent growth trend, but rather volatility.
How does Nova Arts Foundation Inc manage its liabilities?
The organization consistently carries high liabilities relative to its assets. For example, in 2023, liabilities were $186,764 while assets were only $123,652. This indicates that the organization's debts are substantially greater than its available resources, which is a significant financial risk.
Filing History
IRS 990 filing history for Nova Arts Foundation Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Nova Arts Foundation Inc's revenue has grown by 42.3%, moving from $230K to $327K. Total assets increased by 761.1% over the same period, from $14K to $124K. Total functional expenses rose by 46.4%, from $243K to $356K. In its most recent filing year (2023), Nova Arts Foundation Inc reported a deficit of $29K, with expenses exceeding revenue. The organization holds $187K in liabilities against $124K in assets (debt-to-asset ratio: 151.0%), resulting in net assets of $-63,112.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $327K | $356K | $124K | $187K | — | View 990 |
| 2022 | $188K | $196K | $80K | $154K | — | — |
| 2021 | $104K | $142K | $87K | $154K | — | View 990 |
| 2020 | $132K | $139K | $129K | $157K | — | — |
| 2019 | $199K | $211K | $19K | $38K | — | View 990 |
| 2018 | $311K | $249K | $49K | $56K | — | View 990 |
| 2017 | $259K | $237K | $4K | $78K | — | View 990 |
| 2016 | $210K | $224K | $3K | $97K | — | View 990 |
| 2015 | $371K | $394K | $7K | $86K | — | View 990 |
| 2014 | $224K | $223K | $10K | $67K | — | View 990 |
| 2013 | $220K | $202K | $16K | $78K | — | View 990 |
| 2012 | $211K | $217K | $16K | $92K | — | View 990 |
| 2011 | $260K | $229K | $22K | $92K | — | View 990 |
| 2010 | $230K | $243K | $14K | $108K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $327K, expenses of $356K, and assets of $124K (revenue +73.8% year-over-year).
- 2022: Revenue of $188K, expenses of $196K, and assets of $80K (revenue +81.6% year-over-year).
- 2021: Revenue of $104K, expenses of $142K, and assets of $87K (revenue -21.2% year-over-year).
- 2020: Revenue of $132K, expenses of $139K, and assets of $129K (revenue -34.0% year-over-year).
- 2019: Revenue of $199K, expenses of $211K, and assets of $19K (revenue -35.9% year-over-year).
- 2018: Revenue of $311K, expenses of $249K, and assets of $49K (revenue +20.3% year-over-year).
- 2017: Revenue of $259K, expenses of $237K, and assets of $4K (revenue +23.4% year-over-year).
- 2016: Revenue of $210K, expenses of $224K, and assets of $3K (revenue -43.6% year-over-year).
- 2015: Revenue of $371K, expenses of $394K, and assets of $7K (revenue +65.9% year-over-year).
- 2014: Revenue of $224K, expenses of $223K, and assets of $10K (revenue +1.8% year-over-year).
- 2013: Revenue of $220K, expenses of $202K, and assets of $16K (revenue +4.2% year-over-year).
- 2012: Revenue of $211K, expenses of $217K, and assets of $16K (revenue -18.9% year-over-year).
- 2011: Revenue of $260K, expenses of $229K, and assets of $22K (revenue +13.1% year-over-year).
- 2010: Revenue of $230K, expenses of $243K, and assets of $14K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Nova Arts Foundation Inc:
Data Sources and Methodology
This transparency report for Nova Arts Foundation 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.