The New Festival Inc
The New Festival Inc shows consistent revenue growth and zero officer compensation over a decade.
EIN: 133560387 · Brooklyn, NY · NTEE: A99Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.2M |
| Total Expenses | $1.7M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $2 |
| Net Assets | $1.1M |
| Transparency Score | 90/100 |
Is The New Festival Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The New Festival Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The New Festival Inc
The New Festival Inc (EIN: 133560387) is a nonprofit organization based in Brooklyn, NY, classified under NTEE code A99Z. The organization reported total revenue of $2.2M and total assets of $1.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The New Festival Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The New Festival Inc is a mid-size nonprofit that has been operating for 35 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 18.2%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.9M |
| Total Expenses | $1.7M |
| Surplus / Deficit | +$204K |
| Total Assets | $1.3M |
| Total Liabilities | $240K |
| Net Assets | $1.1M |
| Operating Margin | 10.8% |
| Debt-to-Asset Ratio | 18.0% |
| Months of Reserves | 9.5 months |
Financial Health Grade: A
In 2024, The New Festival Inc reported a surplus of $204K with revenue exceeding expenses, holds 9.5 months of operating reserves (strong position), has a debt-to-asset ratio of 18.0% (very low leverage).
Financial Trends
Over 13 years of filings (2012–2024), The New Festival Inc's revenue has grown at a compound annual growth rate (CAGR) of 18.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +22.9% | +37.9% | +8.7% |
| 2023 | +57.6% | +66.2% | +50.5% |
| 2022 | +22.9% | +29.8% | +109.7% |
| 2021 | +27.1% | -0.2% | +272.9% |
| 2020 | +49.3% | +26.9% | +155.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1991 |
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 The New Festival Inc with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, The New Festival Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 surplus of $204K, with revenue exceeding expenses.
- Debt-to-asset ratio: 18.0%.
Executive Compensation Analysis
Executive compensation has been reported as 0% across all available filings, indicating that no officers received compensation from the organization. This is highly unusual for an organization with revenue approaching $2 million and suggests a volunteer-led executive team or that compensation is covered by another entity, which would warrant further investigation for full transparency.
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 The New Festival Inc's IRS 990 filings:
- Unusually low liabilities relative to assets in some periods (e.g., 201801 with $0 liabilities), which could indicate conservative accounting or specific funding structures.
- Consistent 0% officer compensation for an organization of this size could suggest executive compensation is paid by a related entity or through other means not fully disclosed on the 990, warranting further inquiry for complete transparency.
Strengths
The following positive indicators were identified for The New Festival Inc:
- Strong and consistent revenue growth over the past decade, from $113,225 in 2015 to $1,894,326 in 2024.
- Healthy asset accumulation, growing from $48,336 in 2015 to $1,336,608 in 2024, indicating financial stability.
- Consistent reporting of 0% officer compensation, suggesting a high dedication of funds to programmatic activities.
- Expenses consistently below revenue in most recent periods, allowing for surplus and asset growth.
- Manageable liabilities relative to assets, indicating good financial management.
Frequently Asked Questions about The New Festival Inc
Is The New Festival Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, The New Festival Inc (EIN: 133560387) some concerns. Mission Score: 90/100. 2 red flags identified, 5 strengths noted.
How does The New Festival Inc spend its money?
The New Festival Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to The New Festival Inc tax-deductible?
The New Festival Inc is registered as a tax-exempt nonprofit (EIN: 133560387). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the The New Festival Inc CEO make?
The New Festival Inc's highest-compensated officer earns $2 annually. The organization reported $2.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of The New Festival Inc's spending goes to programs?
The New Festival Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does The New Festival Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), The New Festival Inc is above average for NTEE category A99Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is The New Festival Inc located?
The New Festival Inc is headquartered in Brooklyn, New York and files with the IRS under EIN 133560387. It is classified under NTEE code A99Z.
How many years of IRS 990 filings does The New Festival Inc have?
The New Festival Inc has 13 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 $2.2M in total revenue.
Is The New Festival Inc a good charity?
Based on the financial data, The New Festival Inc appears to be a very good charity. It demonstrates strong financial growth, maintains healthy assets, and notably reports 0% officer compensation, suggesting a high dedication of resources to its mission.
How has The New Festival Inc's revenue grown over time?
The New Festival Inc has shown remarkable revenue growth, increasing from $113,225 in 2015 to $1,894,326 in 2024, representing a significant expansion of its financial capacity.
What is the organization's approach to executive compensation?
The organization consistently reports 0% officer compensation in all available IRS 990 filings, indicating that no officers are paid directly by the organization, which is a strong positive for resource allocation to programs.
Filing History
IRS 990 filing history for The New Festival Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), The New Festival Inc's revenue has grown by 645.6%, moving from $254K to $1.9M. Total assets increased by 9825.8% over the same period, from $13K to $1.3M. Total functional expenses rose by 532.2%, from $267K to $1.7M. In its most recent filing year (2024), The New Festival Inc reported a surplus of $204K, with revenue exceeding expenses. The organization holds $240K in liabilities against $1.3M in assets (debt-to-asset ratio: 18.0%), resulting in net assets of $1.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $1.9M | $1.7M | $1.3M | $240K | — | View 990 |
| 2023 | $1.5M | $1.2M | $1.2M | $351K | — | View 990 |
| 2022 | $977K | $737K | $817K | $254K | — | View 990 |
| 2021 | $796K | $568K | $390K | $67K | — | — |
| 2020 | $626K | $569K | $104K | $10K | — | View 990 |
| 2019 | $420K | $448K | $41K | $4K | — | View 990 |
| 2018 | $481K | $463K | $70K | $0 | — | View 990 |
| 2017 | $278K | $309K | $56K | $4K | — | View 990 |
| 2016 | $245K | $206K | $88K | $4K | — | View 990 |
| 2015 | $113K | $93K | $48K | $4K | — | View 990 |
| 2014 | $131K | $71K | $52K | $28K | — | View 990 |
| 2013 | $82K | $62K | $4K | $40K | — | View 990 |
| 2012 | $254K | $267K | $13K | $70K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $1.9M, expenses of $1.7M, and assets of $1.3M (revenue +22.9% year-over-year).
- 2023: Revenue of $1.5M, expenses of $1.2M, and assets of $1.2M (revenue +57.6% year-over-year).
- 2022: Revenue of $977K, expenses of $737K, and assets of $817K (revenue +22.9% year-over-year).
- 2021: Revenue of $796K, expenses of $568K, and assets of $390K (revenue +27.1% year-over-year).
- 2020: Revenue of $626K, expenses of $569K, and assets of $104K (revenue +49.3% year-over-year).
- 2019: Revenue of $420K, expenses of $448K, and assets of $41K (revenue -12.9% year-over-year).
- 2018: Revenue of $481K, expenses of $463K, and assets of $70K (revenue +73.2% year-over-year).
- 2017: Revenue of $278K, expenses of $309K, and assets of $56K (revenue +13.4% year-over-year).
- 2016: Revenue of $245K, expenses of $206K, and assets of $88K (revenue +116.5% year-over-year).
- 2015: Revenue of $113K, expenses of $93K, and assets of $48K (revenue -13.6% year-over-year).
- 2014: Revenue of $131K, expenses of $71K, and assets of $52K (revenue +58.9% year-over-year).
- 2013: Revenue of $82K, expenses of $62K, and assets of $4K (revenue -67.6% year-over-year).
- 2012: Revenue of $254K, expenses of $267K, and assets of $13K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The New Festival Inc:
Data Sources and Methodology
This transparency report for The New Festival 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.