Topaz Arts Inc
Public records show a registered, tax-exempt organization in good standing.
Points to look into
- It owes more than it owns.
These come from the organization's own tax return. There may be a good explanation; ask the charity.
What it says it does
TOPAZ ARTS FOSTERS THE CREATIVE PROCESS, ENCOURAGING NEW WORKS OF DIVERSE ARTISTS AND PROVIDES PUBLIC PROGRAMS FOR CONTEMPORARY PERFORMING AND VISUAL ARTS. MAINTAINING A 2,500 SQ. FE. MULTIDISCIPLINARY ARTS CENTER IN WOODSIDE, QUEENS WHICH INCLUDES A DANCE REHEARSAL STUDIO AND GALLERY, TOPAZ ARTS PROVIDES AFFORDABLE SPACE, TECHNICAL SUPPORT, RESIDENCIES AND PRESENTATION OPPORTUNITIES, ENABLING ARTISTS TO REALIZE THEIR PROJECTS AND THE PROCESS SHARED WITH AUDIENCES.
- Income
- $294,094
- Spending
- $320,170
- Spent on programs
- 85%
- Reserves
- -22.3 months of spending
- Largest source of income
- government grants, 54%
- Employees
- 2
- Volunteers
- 0
- Highest pay
- $92,734, president
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Weak: 34 out of 100. Higher than 6% of charities in its peer group (education, $250k to $1m).
Reserves
0 of 35Spendable reserves are negative: it owes or has committed more than it holds.
Debt
0 of 20It owes 184% of what it owns.
Living within its means
4 of 15Spending exceeded income by 9% of income.
Income trend
15 of 15Income rose 40% on the year before.
Spending floor
15 of 1584% of spending went to programs and raising each dollar of donations cost 7 cents.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Good: 72 out of 100. Higher than 54% of charities in its peer group (education, $250k to $1m).
Independent board
25 of 253 of 5 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
0 of 8Reports no written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
0 of 10Did not give the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
12 of 15Its accounts were reviewed or compiled by an independent accountant, but not audited.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $270,523 spent. TOPAZ ARTS: ARTIST SERVICES IS AN ONGOING PROGRAM WHICH SERVES THE NYC ARTIST COMMUNITY WITH AFFORDABLE SPACE FOR DANCE REHEARSALS, TECHNICAL SUPPORT, AND SHOWINGS - ENABLING ARTISTS TO REALIZE THEIR PROJECTS FOR PUBLIC PRESENTATIONS.TOPAZ ARTS' VISUAL ARTS PROGRAM HOSTS EXHIBITIONS FOCUSING ON NEW WORK BY PROFESSIONAL ARTISTS, FROM THE ESTABLISHED TO THE UNDER-RECOGNIZED, OUR PROGRAM ALLOWS FOR EXPERIMENTATION, VISIBILITY AND ACCESS TO DIVERSE AUDIENCES.TOPAZ ARTS PARTNERSHIPS PROGRAM IS A SERIES OF RESIDENCIES & PERFORMANCES ORGANIZED IN PARTNERSHIP WITH OTHER LEADING ARTS INSTITUTIONS AND ARTISTS IN PRESENTING CONTEMPORARY WORKS AND CULTIVATING INNOVATIVE NEW WORKS IN DANCE, VISUAL ARTS, LITERARY AND COLLABORATIVE ARTS.TOPAZ ARTS PRODUCTIONS EXPLORES THE COLLABORATIONS OF FOUNDING ARTISTS IN MULTIDISCIPLINARY WORKS WITH CHOREOGRAPHY AND PERFORMANCE BY PAZ TANJUAQUIO, WITH VISUAL WORKS AND MUSIC BY TODD RICHMOND.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending June 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since April 2001.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.