Nonprofit · EIN 86-1297241
NEW WAVE ARTIST RESIDENCY INC
Tax-exempt · WEST PALM BCH, FL 33401
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $91,927 | $303,248 | -$211,321 | $170,628 | $28,324 | $142,304 |
| December 31, 2023 | 990 | $269,185 | $267,021 | $2,164 | $370,026 | $16,401 | $353,625 |
| December 31, 2022 | 990 | $269,830 | $195,298 | $74,532 | $398,333 | $46,872 | $351,461 |
| December 31, 2021 | 990 | $338,355 | $61,426 | $276,929 | $307,326 | $30,397 | $276,929 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $157,744
- Program service revenue
- $0
- Investment income
- $2,383
- Net income from fundraising events
- -$56,700
- Net income from sales of inventory
- -$11,500
- Other revenue
- -$68,200
Expenses
- Grants and similar amounts paid
- $18,175
- Other salaries and wages
- $38,000
- Salaries, compensation and benefits (total)
- $38,000
- Professional fundraising fees
- $0
- Legal fees
- $19,870
- Accounting fees
- $30,600
- Occupancy
- $43,247
- Travel
- $29,107
- Depreciation
- $248
- Program services (functional)
- $253,372
- Management and general (functional)
- $23,795
- Fundraising (functional)
- $26,081
Balance sheet and other
- Total assets, start of year
- $370,026
- Total assets, end of year
- $170,628
- Total liabilities, end of year
- $28,324
- Net assets, end of year
- $142,304
- Land, buildings and equipment
- $372
- Gross receipts
- $229,727
- Employees
- 0
- Volunteers
- 10
- Year formed
- 2021
- State of legal domicile
- FL
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Sarah Gavlak | Chair Trustee or director, Officer | 4 | $0 |
| Barry Blumberg | President Trustee or director, Officer | 2 | $0 |
| Beth Rudin DeWoody | Director Trustee or director | 1 | $0 |
| Rena Blades | Secretary Trustee or director, Officer | 10 | $0 |
| Gopal Rajepowda | Treasurer Trustee or director, Officer | 1 | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| Sarah Gavlak | Chair/President Trustee or director, Officer | 20 | $0 | $30,000 |
| Beth Rudin DeWoody | Director Trustee or director | 5 | $0 | $0 |
| Mike De Paola | Director Trustee or director | 5 | $0 | $0 |
990 for the year ended December 31, 2022: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Sarah Gavlak | Chair/President Trustee or director, Officer | 20 | $20,000 |
| Beth Rudin DeWoody | Director Trustee or director | 5 | $0 |
| Mike De Paola | Director Trustee or director | 5 | $0 |
990 for the year ended December 31, 2021: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Beth Rudin DeWoody | Director Trustee or director | 5 | $0 |
| Mike de Paola | Director Trustee or director | 5 | $0 |
| Sarah Gavlak | Chair/President Officer | 5 | $0 |
Address and contacts
- Address (IRS master file)
- 2406 FLORIDA AVE, WEST PALM BCH, FL 33401-7866
- In care of
- % SARAH GAVLAK
- Principal officer (990 for 2024)
- Sarah Gavlak, 2406 Florida Ave, West Palm Beach, FL 33401
- Signed the 990
- Sarah Gavlak, President
- Phone
- (561) 833-0583
- Website
- www.newwave.art
- Return prepared by
- Holyfield & Thomas LLC
Mission
To engage and inspire the West Palm Beach communityand the worldthrough public programs and artist residencies that support and elevate underrepresented artists at the local, national, and international levels.
Program accomplishments
- In the past year, New Wave Artist Residency proudly hosted 3 artists, providing each with a comprehensive support package that included a private studio, housing, a stipend, travel expenses, and, in select cases, art supplies. In addition to logistical support, the residency offered professional mentorship and fostered community engagement through open studio events and other public programming.The Organization also facilitated enriching discourse by hosting curators, artists, and writers for panel discussions during our signature event, New Wave Art Weekend, held annually in December. This weekend serves as New Wave's largest fundraising event and includes a gala dinner for 120 guests. The Organization covered travel and lodging for all invited participants, offered speaker honoraria, and managed all associated event costs, including staffing, administrative support, and public relations services.Expenses $253,372 · grants $18,175
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 86-1297241
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2021
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A20)
- Assets (IRS master file)
- $170,628
- Income (IRS master file)
- $229,727
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $91,927 | $303,248 | $170,628 | XML |
| 990 | December 2023 | $269,185 | $267,021 | $370,026 | IRS |
| 990 | December 2022 | $269,830 | $195,298 | $398,333 | XML |
| 990 | December 2021 | $338,355 | $61,426 | $307,326 | XML |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 86-1297241).
Questions about NEW WAVE ARTIST RESIDENCY INC
- What is the EIN of NEW WAVE ARTIST RESIDENCY INC?
- The employer identification number (EIN) of NEW WAVE ARTIST RESIDENCY INC is 86-1297241.
- Is NEW WAVE ARTIST RESIDENCY INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2021.
- Are donations to NEW WAVE ARTIST RESIDENCY INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does NEW WAVE ARTIST RESIDENCY INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NEW WAVE ARTIST RESIDENCY INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NEW WAVE ARTIST RESIDENCY INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of NEW WAVE ARTIST RESIDENCY INC?
- The 990 for the year ended December 31, 2024 names Sarah Gavlak.
- Who are the officers and directors of NEW WAVE ARTIST RESIDENCY INC?
- The 990 for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
- How much revenue does NEW WAVE ARTIST RESIDENCY INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $91,927, expenses of $303,248 and total assets of $170,628 at year end.
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