2024-10-03T16:24:07-05:00 2022-12-31 651083521 Holyfield & Thomas LLC 125 Butler Street West Palm Beach FL 33407 990 2022-01-01 861297241 New Wave Artist Residency Inc NEWW 5618330583 2406 Florida Ave West Palm Beach FL 33401 Sarah Gavlak President 5618330583 2024-10-01 1 1 Scott Y Haynes CPA P01366363 5616896000 2022 2024-10-15 13:58:12Z Sarah Gavlak 2406 Florida Ave West Palm Beach FL 33401 487412 0 X www.newwave.art X 2021 FL To engage and inspire the West Palm Beach, Florida community and the world through public programs and residencies in support of local, national, and international under-represented artists. 3 3 0 3 0 0 336055 312841 2500 2115 0 0 -200 -45126 338355 269830 2777 25991 0 0 0 20000 0 0 19609 58649 149307 61426 195298 276929 74532 307326 398333 30397 46872 276929 351461 To engage and inspire the West Palm Beach, Florida community and the world through public programs and residencies in support of local, national, and international under-represented artists. 0 0 148016 25991 New Wave Artist Residency hosted five artists in our residency program by providing them with a studio, an apartment, a stipend, travel expenses and in some cases art supplies. The Organization also provided professional mentoring and facilitated community engagement events such as open studios. The Organization also hosted curators, artists, and writers for panel discussions held at our annual New Wave Art weekend in December, New Wave's largest fundraising event of the year. This special weekend includes producing a gala dinner, and covering travel expenses and accommodations for the participants, the speakers' honorarium, staffing of events, administrative costs, and PR services. 148016 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 X 3 0 0 0 0 0 0 0 1 0 0 0 0 0 X 3 3 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 FL X X Maria Benedetto 5618330583 2406 Florida Ave West Palm Beach FL 33401 Sarah Gavlak Chair/President 20.00 X X 20000 0 0 Beth Rudin DeWoody Director 5.00 X 0 0 0 Mike De Paola Director 5.00 X 0 0 0 20000 0 0 0 0 0 0 0 178100 134741 312841 2115 2115 2115 164400 178100 213247 -48847 -48847 8056 4335 3721 3721 269830 5836 0 -48847 25991 25991 20000 16000 2000 2000 6550 6550 326 260 33 33 14563 11651 1456 1456 31500 25200 3150 3150 19054 19054 Professional fees 64749 38849 12950 12950 Artist Residency Expens 10851 10851 Meals 1514 1514 Licenses & Taxes 200 160 20 20 195298 148016 27673 19609 307326 398333 307326 398333 10550 25000 0 5397 36322 30397 46872 X 0 0 0 0 276929 351461 276929 351461 307326 398333 74532 0 X 0 0 0 X 340955 287841 628796 340955 287841 628796 73735 555061 628796 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 Other liabilities 36322 36322 New Wave Art Weekend 342500 178100 164400 193747 19500 342500 178100 164400 193747 19500 213247 -48847 1 Artist Residency Stipend 5 25991 Sarah Gavlak Owner of Gavlak, LLC is also the President of New Wave Artist Residency 31500 Rent paid to Gavlak, LLC for space used. 0 Form 990, Part VI, Section B, Line 14 Although the Organization did not have a formal document retention and destruction policy for this filing year, New Wave has since evaluated appropriate language and intends to adopt such a policy in this current year. Form 990, Part V, Line 7b: In its early stages of operation, the Organization was unaware of the technical requirements for contemporaneous quid pro quo disclosures. New Wave has attempted to reach its donor base with such relevant information and in recent months has engaged experienced staff and professional advisors to guide appropriate compliance in this and other areas. Form 990, Part VI, Section A, line 8a In its early stages of existence, the Organization's three (3) Board of Directors held frequent informal meetings regarding all manner of operations. New Wave has since created more formality around these important meetings and has recently engaged experienced staff and professional advisors to guide appropriate compliance and taking of minutes of meetings in this and other areas. Form 990, Part VI, Section A, line 8b In its early stages of existence, the Organization's three (3) Board of Directors held frequent informal meetings regarding all manner of operations. New Wave has since created more formality around these important meetings and has recently engaged experienced staff and professional advisors to guide appropriate compliance and taking of minutes of meetings in this and other areas. Form 990, Part VI, Section B, line 11b The Form 990 is provided to the board members for their review prior to filing. Form 990, Part VI, Section B, Line 12b Although the Organization adopted a Conflict of Interest Policy as part of its Form 1023 process, there was no annual evaluation in the early years. New Wave has since created the appropriate environment and formality around this area and will be receiving annual disclosures from its officers, directors, and key employees. Form 990, Part VI, Section C, line 19 The Organization's governing documents and financial statements are retained at the main office and made available to the public upon request. Form 990, Part VI, Section B, Line 13 Although the Organization did not have a formal whistleblower policy for this filing year, New Wave has since evaluated appropriate language and intends to adopt such a policy in this current year. Form 990, Part VI, Section B, Line 15 In the early stages of operation, the Organization did not have full-time positions and did not see the need for a broad compensation model. However, as discussed in earlier sections, New Wave has pursued greater formality and structure in all of its administrative functions. Accordingly, the Organization is developing an independent compensation approach in this current year. Form 990, Schedule L, Part II In reference to Schedule L Part II a single member LLC owned by a director and founder loaned money to New Wave in 2021 for the purpose of supporting working capital. Following an analysis of the Organization's needs and available resources the director and founder forgave that non-interest bearing loan as a contribution in the year 2022. 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 Gavlak LLC K 31500 Allocation of relative space used