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New Wave Artist Residency Inc

EIN 86-1297241 · West Palm Bch, FL

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair51 out of 100GovernanceFair69 out of 100Impact evidenceDescribes programsHow well its results are evidenced

Points to look into

  • It reported an excess benefit transaction with an insider.
  • It reported loans to or from officers, directors or other insiders.

These come from the organization's own tax return. There may be a good explanation; ask the charity.

What it says it does

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.

Income
$91,927
Spending
$303,248
Spent on programs
84%
Reserves
5.6 months of spending
Largest source of income
donations and private grants, 100%
Employees
0
Volunteers
10

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 51 out of 100. Higher than 21% of charities in its peer group (arts and culture, under $250k).

  • Reserves

    20 of 35

    Spendable reserves would cover 5.6 months of spending.

  • Debt

    16 of 20

    It owes 17% of what it owns.

  • Living within its means

    0 of 15

    Spending exceeded income by 230% of income.

  • Income trend

    0 of 15

    Income fell 66% on the year before.

  • Spending floor

    15 of 15

    84% of spending went to programs and raising each dollar of donations cost 17 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Fair: 69 out of 100. Higher than 62% of charities in its peer group (arts and culture, under $250k).

  • Independent board

    25 of 25

    3 of 5 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • No reported misuse

    0 of 10

    Reports at least one of: diversion of assets, excess benefits, loans to insiders.

Source: Form 990 for the year ending December 31, 2024, 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)
  1. $253,372 spent. 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.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. 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.

  2. 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 October 13, 2026.

  3. 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.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since July 2021.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. 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 October 21, 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.