Civic Intelligence

Nxthvn Inc.

990 • Fiscal year 2018 • EIN 83-0601747

May 10, 2018 to Aug 31, 2018 • Filed on Jul 29, 2020

Organization ProfileWWW.NXTHVN.COM
169 Henry StreetNew Haven, CT 06511

(203) 871-3287

Siviq Scores

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

Liabilities / Assets

90th percentile

0.55x

Higher debt load relative to assets than 90% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

95th percentile

0.87x

Higher debt load relative to revenue than 95% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

96th percentile

72%

Higher net margin than 96% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

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.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Balance Sheet
Liabilities / Assets90th percentile

Assets

$346,812

No earlier filing loaded for comparison.

Net Assets

$156,335

No earlier filing loaded for comparison.

Liabilities

$190,477

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin96th percentile

Revenue

$218,307

No earlier filing loaded for comparison.

Expenses

$61,972

No earlier filing loaded for comparison.

Net Income

$156,335

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$30M$20M$10M$0Assets 2018: $346,812Liabilities 2018: $190,477Net Assets 2018: $156,3352018Assets 2020: $2,823,638Liabilities 2020: $336,262Net Assets 2020: $2,487,3762020Assets 2021: $17,933,474Liabilities 2021: $13,275,170Net Assets 2021: $4,658,3042021Assets 2022: $18,606,468Liabilities 2022: $12,978,195Net Assets 2022: $5,628,2732022Assets 2023: $21,731,832Liabilities 2023: $13,802,217Net Assets 2023: $7,929,6152023Assets 2024: $20,874,509Liabilities 2024: $14,391,509Net Assets 2024: $6,483,0002024

Highlighted filing

2018

Assets$346,812
Liabilities$190,477
Net Assets$156,335
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2018: $218,307Expenses 2018: $61,972Net Income 2018: $156,3352018Revenue 2020: $945,520Expenses 2020: $753,914Net Income 2020: $191,6062020Revenue 2021: $3,738,100Expenses 2021: $1,731,614Net Income 2021: $2,006,4862021Revenue 2022: $2,898,729Expenses 2022: $2,408,198Net Income 2022: $490,5312022Revenue 2023: $5,786,629Expenses 2023: $3,964,726Net Income 2023: $1,821,9032023Revenue 2024: $2,313,282Expenses 2024: $4,189,149Net Income 2024: -$1,875,8672024

Highlighted filing

2018

Revenue$218,307
Expenses$61,972
Net Income$156,335
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
May 10, 2018 to Aug 31, 2018
Signed
Jul 29, 2020
Return Version
2018v3.2
Gross Receipts
$218,307
Mission and Program Overview

Mission

Nxthvn's mission is to play a central role in the training and development of the next generation of professional artist, foster the retention of highly skilled professional art talent, and ultimately serve as a catalyst in helping new haven become a world class sustainable arts community.

Development of a sustainable art community in nxthvn.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable-$190,477-
Rtn Earn Endowment Incm Other Fnds$0$156,335▲ $156,335
Cash and Non-Interest-Bearing Accounts-$115,086-
Receivables From Officers Etc-$11,979-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$0$346,812▲ $346,812
Other Assets Total$0$29,270▲ $29,270
Liabilities
Deferred Revenue-$190,477-
Total Liabilities$0$190,477▲ $190,477
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$156,335▲ $156,335
Total Liabilities and Net Assets / Fund Balance$0$346,812▲ $346,812

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$29,270--
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Jason PriceChairman of the Board/treasurer
Titus KapharChairperson/president
Alexandra ShorDirector
Jock ReynoldsDirector
Pamela FranksDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$213,823
Program Service Revenue
$4,484
Investment Income
$0
Other Revenue
$0
All Other Contributions
$213,823
Change in Net Assets
$156,335
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$61,972
Total Fundraising Expense$4,129
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$18,577$18,577$4,129$41,283
Fees for Services Legal-$11,090-$11,090
Fees for Services Accounting-$6,475-$6,475
Information Technology$2,565--$2,565
Fees for Services Other$375--$375
Office Expenses-$184-$184
Total Functional Expenses$21,517$36,326$4,129$61,972
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees-$11,979-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Sole member - the membership of this corporation shall consist of only one (1) member, titus kaphar (the "member"), and the member's membership in this corporation shall be non-transferable. Following the death of titus kaphar, the member's membership in this corporation shall terminate, and this corporation shall have no further members. The annual meeting of the member of the corporation shall be held on such date, at such time and at such place within or without the state of delaware as shall be designated from time to time by the board. The only matter on which the member may vote at the annual meeting shall be the election of the directors of the corporation. Directors - the business and affairs of the corporation shall be managed by its board of directors, which may exercise all such powers of the corporation and do all such lawful acts and things as are permitted by law.”

Form 990, Part VI, Section B, Line 11B

“A draft of the form 990 is prepared by a cpa firm with the assistance of nxthvn's finance manager. The draft is provided to the executive director and board of directors for review prior to finalizing and filing.”

Form 990, Part VI, Section C, Line 19

“Copies of documents are made available upon request through mail or in person at organization's office.”

Filing and Contact Details

Filer

Filer Name
Nxthvn Inc
EIN
83-0601747
Phone
2038713287
Address
169 HENRY STREET, NEW HAVEN, CT 06511

Signing Officer

Name
Nico Wheadon
Title
Executive Director
Phone
2038713287
Signed
2020-07-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nico Wheadon
Formed
2018
Legal Domicile
De
Voting Board Members
5
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Carter Hayes Associates Pc
Address
1970 WHITNEY AVENUE BLDG 2, HAMDEN, CT 06517
Preparer
David a Scaramozza
Phone
2032873990
Raw XML Appendix316 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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IRS990/Desc0DURING THE FISCAL YEAR ENDED AUGUST 31, 2018, NXTHVN BEGAN ACCEPTING APPLICATIONS FOR ARTIST AND CURATORIAL FELLOWS FOR 2019. ARTIST FELLOWS: COMPREHENSIVE YEAR-LONG FELLOWSHIPS PROVIDE DEDICATED WORK SPACE AND PROFESSIONAL DEVELOPMENT WORKSHOPS FOR EARLY-CAREER ARTISTS AND CURATORS. FELLOWS WILL ALSO MENTOR HIGH SCHOOL STUDENTS TO ENSURE THE NEXT GENERATION IS GIVEN A CHANCE TO EXCEL IN THE FINE ARTS. THROUGHOUT THE YEAR, ARTIST FELLOWS PARTICIPATE IN WORKSHOPS AND SEMINARS THAT FOCUS ON THE THEORETICAL AND PRACTICAL COMPONENTS OF SETTING UP AND MANAGING A SUSTAINABLE ART PRACTICE.CURATORIAL FELLOWS: RECEIVE CO-WORKING SPACE AND A GENEROUS STIPEND TO COVER LIVING AND MATERIAL EXPENSES THROUGHOUT THE FELLOWSHIP YEAR. IN ADDITION TO CO-CURATING AN EXHIBITION, THE CURATORIAL FELLOWS HAVE AN OPPORTUNITY TO DEVELOP ADVANCED SKILLS IN THE LOGISTICS AND CONCEPTS OF EXHIBITION-MAKING, TO ENHANCE PROFESSIONAL DEVELOPMENT AND MENTORSHIP SKILLS, AND TO FORM NEW CREATIVE PARTNERSHIPS WITHIN THE ART COMMUNITIES AT YALE UNIVERSITY, AS WELL AS, IN NEW HAVEN AND NEW YORK CITY AT LARGE. CURATORIAL FELLOWS ARE REQUIRED TO COMMIT TO A MINIMUM OF 10 HOURS OF RESEARCH TIME PER WEEK AND 5 HOURS OF MENTORSHIP TIME WITH HIGH SCHOOL STUDENT WHO HAVE BEEN SELECTED FOR OUR APPRENTICESHIP PROGRAM. ADDITIONALLY, FELLOWS ARE REQUIRED TO ENGAGE IN A SERIES OF GROUP CRITIQUES, STUDIO VISITS AND WORKSHOPS WITH ART WORLD PROFESSIONALS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3CHAIRPERSON/PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt4CHAIRMAN OF THE BOARD/TREASURER
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IRS990/MissionDesc0NXTHVN'S MISSION IS TO PLAY A CENTRAL ROLE IN THE TRAINING AND DEVELOPMENT OF THE NEXT GENERATION OF PROFESSIONAL ARTIST, FOSTER THE RETENTION OF HIGHLY SKILLED PROFESSIONAL ART TALENT, AND ULTIMATELY SERVE AS A CATALYST IN HELPING NEW HAVEN BECOME A WORLD CLASS SUSTAINABLE ARTS COMMUNITY.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THIS IS THE INITIAL FILING FOR NXTHVN, INC.'S AND IS FOR THE SHORT YEAR OF MAY 10, 2018 THROUGH AUGUST 31, 2018.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART III, SHORT YEAR EXPLANATION:
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IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0TITUS KAPHAR (CHARIPERSON/PRESIDENT OF NXTHVN, INC.) HAS A 60% MEMBER INTEREST IN 169 HENRY STREET, LLC. JASON PRICE (CHAIRMAN OF THE BOARD/TREASURER OF NXTHVN, INC.) HAS A 20% MEMBER INTEREST IN 169 HENRY STREET, LLC.
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt1169 HENRY STREET, LLC IS REHABILITATING THE BUILDING LOCATED AT 169 HENRY STREET NEW HAVEN, CT. ONCE COMPLETED, THE BUILDING WILL FEATURE PROFESSIONAL STUDIO SPACE, EXHIBITION/GALLARY SPACE AND THE OFFICES OF NXTHVN, INC. AS OF AUGUST 31, 2018, NXTHVN, INC. PAID CONSTRUCTION RELATED COSTS ON BEHALF OF 169 HENRY STREET, LLC. AS OF JANUARY 2019, THESE AMONUTS HAD BEEN REIMBURSED BY 169 HENRY STREET, LLC TO NXTHVN, INC.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0PART II, COLUMN B
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc1PART II, COLUMN C
IRS990ScheduleL/TotalBalanceDueAmt011979
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SOLE MEMBER - THE MEMBERSHIP OF THIS CORPORATION SHALL CONSIST OF ONLY ONE (1) MEMBER, TITUS KAPHAR (THE "MEMBER"), AND THE MEMBER'S MEMBERSHIP IN THIS CORPORATION SHALL BE NON-TRANSFERABLE. FOLLOWING THE DEATH OF TITUS KAPHAR, THE MEMBER'S MEMBERSHIP IN THIS CORPORATION SHALL TERMINATE, AND THIS CORPORATION SHALL HAVE NO FURTHER MEMBERS. THE ANNUAL MEETING OF THE MEMBER OF THE CORPORATION SHALL BE HELD ON SUCH DATE, AT SUCH TIME AND AT SUCH PLACE WITHIN OR WITHOUT THE STATE OF DELAWARE AS SHALL BE DESIGNATED FROM TIME TO TIME BY THE BOARD. THE ONLY MATTER ON WHICH THE MEMBER MAY VOTE AT THE ANNUAL MEETING SHALL BE THE ELECTION OF THE DIRECTORS OF THE CORPORATION. DIRECTORS - THE BUSINESS AND AFFAIRS OF THE CORPORATION SHALL BE MANAGED BY ITS BOARD OF DIRECTORS, WHICH MAY EXERCISE ALL SUCH POWERS OF THE CORPORATION AND DO ALL SUCH LAWFUL ACTS AND THINGS AS ARE PERMITTED BY LAW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A DRAFT OF THE FORM 990 IS PREPARED BY A CPA FIRM WITH THE ASSISTANCE OF NXTHVN'S FINANCE MANAGER. THE DRAFT IS PROVIDED TO THE EXECUTIVE DIRECTOR AND BOARD OF DIRECTORS FOR REVIEW PRIOR TO FINALIZING AND FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COPIES OF DOCUMENTS ARE MADE AVAILABLE UPON REQUEST THROUGH MAIL OR IN PERSON AT ORGANIZATION'S OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TempOrPermanentEndowmentsInd00
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IRS990/TotalCompGreaterThan150KInd00
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ReasonableCauseExplanation/ExplanationTxt0NXTHVN, INC. IS REQUESTING THAT THE LATE PENALTIES ASSOCIATED WITH THE FILING OF THIS RETURN BE ABATED DUE TO REASONABLE CAUSE.THE ORGANIZATION WAS INCORPORATED ON MAY 10, 2018 AND SUBMITTED THE FORM 1023, APPLICATION FOR RECOGNITION OF EXEMPTION, IN SEPTEMBER 2018. NXTHVN, INC. RECEIVED IT'S IRS APPROVAL AS A 501(C)(3) ON JULY 17, 2019 WITH AN EFFECTIVE DATE OF MAY 10, 2018.NXTHVN, INC. ENTERED INTO AN AGREEMENT WITH THE UNITED WAY OF GREATER NEW HAVEN (UWGNH) TO ACT AS THE FISCAL SPONSOR WHILE NXTHVN, INC.'S BOARD OF DIRECTORS CONDUCTED IT'S SEARCH FOR AN EXECUITIVE DIRECTOR. IN DOING SO, NXTHVN, INC. DIDN'T REALIZE THAT CONTRIBUTIONS RECEIVED AND EXPENDITURES MADE BY UWGNH ON BEHALF OF NXTHVN, INC. DURING THE PERIOD FROM MAY 2018 THROUGH AUGUST 2018 CREATED THE REQUIREMENT FOR NXTHVN, INC. TO FILE A 990 FOR THE FISCAL YEAR ENDED AUGUST 31, 2018. IN APRIL 2019, NXTHVN, INC. HIRED AN EXECUTIVE DIRECTOR AND THE PROCESS OF HIRING STAFF BEGAN. A FINANCE MANAGER WAS HIRED IN OCTOBER 2019. UPON CONSULTING WITH AN OUSTIDE CPA FIRM IN DECEMBER 2019 TO ASSIST WITH BOOKKEEPING AND DETERMINING REPORTING REQUIREMENTS, IT WAS REALIZED THAT A FORM 990 WAS REQUIRED TO BE FILED FOR FISCAL YEAR ENDED AUGUST 31, 2018. THE PROCESS FOR OBTAINING THE NECESSARY INFORMATION AND RECORDS FROM UWGNH BEGAN IN JANUARY 2020 TO INCORPORATE THESE TRANSACTIONS INTO THE BOOKS OF NXTHVN, INC. THIS PROCESS WAS DELAYED DUE TO THE COVID-19 PANDEMIC AND THE STATE OF CONNECTICUT'S "STAY HOME, STAY SAFE" RESTRICTIONS PUT IN PLACE IN MARCH 2020. STARTING IN MAY 2020, CONNECTICUT BEGAN PHASE 1 OF REOPENING AND MOVED TO PHASE 2 IN JUNE 2020. THE REOPENING ENABLED THE NECESSARY COMMUNICATION AND WORK TO BE COMPLETED TO PREPARE THE FORM 990 FOR FISCAL YEAR ENDED AUGUST 31, 2018.THE WORK NECESSARY TO PREPARE THE FORM 990 FOR FISCAL YEAR ENDED AUGUST 31, 2019 HAS BEGUN AND WILL BE FILED WITHIN THE NEXT FEW WEEKS.
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
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ReturnHeader/BusinessOfficerGrp/SignatureDt02020-07-29
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01970 WHITNEY AVENUE BLDG 2
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ReturnHeader/PreparerPersonGrp/PhoneNum02032873990
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID A SCARAMOZZA
ReturnHeader/ReturnTs02020-07-31T10:23:35-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-05-10
ReturnHeader/TaxPeriodEndDt02018-08-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$346,812
Liabilities
$190,477
Net assets
$156,335
Revenue
$218,307
Expenses
$61,972
Net income
$156,335
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$20.9$14.4$6.48$2.31$4.19$1.88
2023Detailed filing. Detailed filing data is available for this year.$21.7$13.8$7.93$5.79$3.96$1.82
2022Detailed filing. Detailed filing data is available for this year.$18.6$13.0$5.63$2.90$2.41$0.49
2021Detailed filing. Detailed filing data is available for this year.$17.9$13.3$4.66$3.74$1.73$2.01
2020Summary only. Only limited summary data is available for this year.$2.82$0.34$2.49$0.95$0.75$0.19
2018Detailed filing. Detailed filing data is available for this year.$0.35$0.19$0.16$0.22$0.06$0.16