Civic Intelligence

Nvak Inc.

990EZ • Fiscal year 2020 • EIN 82-5303346

Jan 01, 2020 to Dec 31, 2020 • Filed on May 15, 2021

225 E 19th Street Suite 706New York, NY 10003

(818) 519-4202

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

83rd percentile

0.29x

Higher debt load relative to assets than 83% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

71st percentile

0.05x

Higher debt load relative to revenue than 71% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

61st percentile

13%

Higher net margin than 61% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

77th percentile

41%

Faster asset growth than 77% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

25th percentile

-46%

Faster revenue growth than 25% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Assets

Up

$22,009

Up $6,385 (+41%) from 2019

Net Assets

Up

$15,670

Up $15,938 (+5947%) from 2019

Liabilities

Down

$6,339

Down $9,553 (-60%) from 2019

Revenue

Down

$123,754

Down $103,833 (-46%) from 2019

Expenses

Down

$107,816

Down $112,181 (-51%) from 2019

Net Income

Up

$15,938

Up $8,348 (+110%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$100K$50K$0-$50K-$100KAssets 2018: $16,035Liabilities 2018: $23,893Net Assets 2018: -$7,8582018Assets 2019: $15,624Liabilities 2019: $15,892Net Assets 2019: -$2682019Assets 2020: $22,009Liabilities 2020: $6,339Net Assets 2020: $15,6702020Assets 2021: $3,688Liabilities 2021: $67,636Net Assets 2021: -$63,9482021Assets 2022: $21,680Liabilities 2022: $31,958Net Assets 2022: -$10,2782022Assets 2023: $26,768Liabilities 2023: $24,999Net Assets 2023: $1,7692023

Highlighted filing

2020

Assets$22,009
Liabilities$6,339
Net Assets$15,670

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100KRevenue 2018: $113,408Expenses 2018: $121,266Net Income 2018: -$7,8582018Revenue 2019: $227,587Expenses 2019: $219,997Net Income 2019: $7,5902019Revenue 2020: $123,754Expenses 2020: $107,816Net Income 2020: $15,9382020Revenue 2021: $49,568Expenses 2021: $129,186Net Income 2021: -$79,6182021Revenue 2022: $185,873Expenses 2022: $132,203Net Income 2022: $53,6702022Revenue 2023: $172,408Expenses 2023: $160,361Net Income 2023: $12,0472023

Highlighted filing

2020

Revenue$123,754
Expenses$107,816
Net Income$15,938
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 15, 2021
Return Version
2020v4.1
Gross Receipts
$123,754
Mission and Program Overview

Mission

SEE SCHEDULE O

Program Services

DescriptionGrantsExpenses
MUSIC EDUCATION (SEE SCHEDULE O FOR RESPONSES)-$61,460
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
TAMAR MARDIROSSIANPresident - DirectorPT$0--
CHRISTOPHER STANGSecretary - Director-$0--
GINA SCHULMANDirector-$0--
Filing and Contact Details

Filer

Filer Name
NVAK Inc
EIN
82-5303346
In Care Of
% TAMAR MARDIROSSIAN
Phone
8185194202
Address
225 E 19th Street Suite 706, New York, NY 10003

Signing Officer

Name
Tamar Mardirossian
Title
President & Director
Phone
8185194202
Signed
2021-05-15
Discuss with paid preparer
Yes

Preparer

Firm
WithumSmithBrown PC
Address
ONE TOWER CENTER BLVD 14TH FL, EAST BRUNSWICK, NJ 08816
Preparer
Brad Caruso
Phone
7328281614
Supplemental Narrative

Additional Explanations

Core Form 990EZ Responses

Form 990-ez, part iii, primary exempt purpose nvak (which means music in armenian) is a music education program whose mission is to educate and develop the skills of young musicians living in countries facing social,political and/or economic challenges.we connect our students (ages 14-30) with educators and professionals from the music business,using music education as a way to (1) bring people together into dialogue,(2) foster artistic and social collaboration and (3) help our students find career growth opportunities that would otherwise be unavailable to them. Form 990-ez, part iii, line 28 in 2015, because of the work tamar was doing in the u.s. Music business,she was given the opportunity to spend extended amounts of time in yerevan,armenia. During those months, she got to know local creatives and realized while talent was equally distributed, opportunity was not.the armenian youth possessed huge amounts of emotional intelligence; they were curious and hungry to learn; they wanted to integrate into the global and technologically connected world; and they wanted to have more access to opportunities that were unavailable to them. Tamar realized that because of her connections in the music industry, and the platform she had in the country, there was an opportunity for her to create an organization super-serving talented musicians in armenia. Prior to nvak, there was no collaborative, cohesive, vibrant, modern music community in armenia. Young musicians were not producing or releasing original music. They were not collaborating and working with each other. They were not playing live shows. No one knew what an open-mic-night was. No one knew what songwriter circles were. The mission was to create change and to weave together the fragmented creative community. By 2019, nvak had scaled to 2 additional countries;impacting artists in 3 different regions(armenia,israel,and malawi)and 6 different cultural groups; in 2020, nvak evolved its educational programming into a hybrid in-person and remote learning system that can be held year-round and reach its entire global community of 1,500 students. This flexible education model fits the needs of the modern music student and significantly expands nvak's impact through music education. What originally started as a summer program is now a year-round community and family that provides free, high-quality, inclusive music education for under-served musicians globally.

Form 990EZ Part I Line 16

Description:OFFICE EXPENSES AND PROGRAM SUPPLIES Amount:13833

Form 990EZ Part I Line 16

Description:INFORMATION TECHNOLOGY Amount:633

Form 990EZ Part II Line 24

Description:OTHER RECEIVABLES BOY Amount:9240 EOY Amount:50

Raw XML Appendix156 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990-EZ, PART III, PRIMARY EXEMPT PURPOSE NVAK (WHICH MEANS MUSIC IN ARMENIAN) IS A MUSIC EDUCATION PROGRAM WHOSE MISSION IS TO EDUCATE AND DEVELOP THE SKILLS OF YOUNG MUSICIANS LIVING IN COUNTRIES FACING SOCIAL,POLITICAL AND/OR ECONOMIC CHALLENGES.WE CONNECT OUR STUDENTS (AGES 14-30) WITH EDUCATORS AND PROFESSIONALS FROM THE MUSIC BUSINESS,USING MUSIC EDUCATION AS A WAY TO (1) BRING PEOPLE TOGETHER INTO DIALOGUE,(2) FOSTER ARTISTIC AND SOCIAL COLLABORATION AND (3) HELP OUR STUDENTS FIND CAREER GROWTH OPPORTUNITIES THAT WOULD OTHERWISE BE UNAVAILABLE TO THEM. FORM 990-EZ, PART III, LINE 28 IN 2015, BECAUSE OF THE WORK TAMAR WAS DOING IN THE U.S. MUSIC BUSINESS,SHE WAS GIVEN THE OPPORTUNITY TO SPEND EXTENDED AMOUNTS OF TIME IN YEREVAN,ARMENIA. DURING THOSE MONTHS, SHE GOT TO KNOW LOCAL CREATIVES AND REALIZED WHILE TALENT WAS EQUALLY DISTRIBUTED, OPPORTUNITY WAS NOT.THE ARMENIAN YOUTH POSSESSED HUGE AMOUNTS OF EMOTIONAL INTELLIGENCE; THEY WERE CURIOUS AND HUNGRY TO LEARN; THEY WANTED TO INTEGRATE INTO THE GLOBAL AND TECHNOLOGICALLY CONNECTED WORLD; AND THEY WANTED TO HAVE MORE ACCESS TO OPPORTUNITIES THAT WERE UNAVAILABLE TO THEM. TAMAR REALIZED THAT BECAUSE OF HER CONNECTIONS IN THE MUSIC INDUSTRY, AND THE PLATFORM SHE HAD IN THE COUNTRY, THERE WAS AN OPPORTUNITY FOR HER TO CREATE AN ORGANIZATION SUPER-SERVING TALENTED MUSICIANS IN ARMENIA. PRIOR TO NVAK, THERE WAS NO COLLABORATIVE, COHESIVE, VIBRANT, MODERN MUSIC COMMUNITY IN ARMENIA. YOUNG MUSICIANS WERE NOT PRODUCING OR RELEASING ORIGINAL MUSIC. THEY WERE NOT COLLABORATING AND WORKING WITH EACH OTHER. THEY WERE NOT PLAYING LIVE SHOWS. NO ONE KNEW WHAT AN OPEN-MIC-NIGHT WAS. NO ONE KNEW WHAT SONGWRITER CIRCLES WERE. THE MISSION WAS TO CREATE CHANGE AND TO WEAVE TOGETHER THE FRAGMENTED CREATIVE COMMUNITY. BY 2019, NVAK HAD SCALED TO 2 ADDITIONAL COUNTRIES;IMPACTING ARTISTS IN 3 DIFFERENT REGIONS(ARMENIA,ISRAEL,AND MALAWI)AND 6 DIFFERENT CULTURAL GROUPS; IN 2020, NVAK EVOLVED ITS EDUCATIONAL PROGRAMMING INTO A HYBRID IN-PERSON AND REMOTE LEARNING SYSTEM THAT CAN BE HELD YEAR-ROUND AND REACH ITS ENTIRE GLOBAL COMMUNITY OF 1,500 STUDENTS. THIS FLEXIBLE EDUCATION MODEL FITS THE NEEDS OF THE MODERN MUSIC STUDENT AND SIGNIFICANTLY EXPANDS NVAK'S IMPACT THROUGH MUSIC EDUCATION. WHAT ORIGINALLY STARTED AS A SUMMER PROGRAM IS NOW A YEAR-ROUND COMMUNITY AND FAMILY THAT PROVIDES FREE, HIGH-QUALITY, INCLUSIVE MUSIC EDUCATION FOR UNDER-SERVED MUSICIANS GLOBALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Description:OFFICE EXPENSES AND PROGRAM SUPPLIES Amount:13833
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Description:INFORMATION TECHNOLOGY Amount:633
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Description:OTHER RECEIVABLES BOY Amount:9240 EOY Amount:50
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0CORE FORM 990EZ RESPONSES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990EZ PART I LINE 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990EZ PART I LINE 16
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ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-15
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ReturnHeader/Filer/EIN0825303346
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ReturnHeader/PreparerPersonGrp/PhoneNum07328281614
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ReturnHeader/ReturnTs02021-05-17T10:37:46-05:00
ReturnHeader/ReturnTypeCd0990EZ
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ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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