Civic Intelligence

Next Edge Arts Inc.

990 • Fiscal year 2023 • EIN 84-3535421

Jan 01, 2023 to Dec 31, 2023 • Filed on May 05, 2024

Organization ProfileWWW.NEXT-FEST.ORG
188 Grand Street 2nd FL 1154New York, NY 10013

(808) 393-5291

Siviq Scores

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

Liabilities / Assets

75th percentile

0.12x

Higher debt load relative to assets than 75% of similar nonprofits.

2023 filings • NTEE A20 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

80th percentile

0.09x

Higher debt load relative to revenue than 80% of similar nonprofits.

2023 filings • NTEE A20 • <$500k nonprofits • Source year 2023

Net Margin

71st percentile

24%

Higher net margin than 71% of similar nonprofits.

2023 filings • NTEE A20 • <$500k nonprofits • Source year 2023

Top Officer Pay

86th percentile

$10,250

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

2023 filings • NTEE A20 • <$500k nonprofits • Source year 2023

Asset Growth

81st percentile

70%

Faster asset growth than 81% of similar nonprofits.

2023 filings • NTEE A20 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

78th percentile

72%

Faster revenue growth than 78% of similar nonprofits.

2023 filings • NTEE A20 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets75th percentile

Assets

Up

$216,772

Up $89,481 (+70%) from 2022

Net Assets

Up

$191,650

Up $65,859 (+52%) from 2022

Liabilities

Up

$25,122

Up $23,622 (+1575%) from 2022

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin71st percentile

Revenue

Up

$277,332

Up $115,730 (+72%) from 2022

Expenses

Up

$211,473

Up $49,974 (+31%) from 2022

Net Income

Up

$65,859

Up $65,756 (+63841%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth81st percentile

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

$300K$200K$100K$0Assets 2019: $1Liabilities 2019: $02019Assets 2020: $48,042Liabilities 2020: $0Net Assets 2020: $48,0422020Assets 2021: $125,687Liabilities 2021: $0Net Assets 2021: $125,6872021Assets 2022: $127,291Liabilities 2022: $1,500Net Assets 2022: $125,7912022Assets 2023: $216,772Liabilities 2023: $25,122Net Assets 2023: $191,6502023Assets 2024: $94,604Liabilities 2024: $41Net Assets 2024: $94,5632024

Highlighted filing

2023

Assets$216,772
Liabilities$25,122
Net Assets$191,650
Open 2023 Filing

Operations Trend

Revenue Growth78th percentile

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

$300K$200K$100K$0-$100KRevenue 2019: $0Expenses 2019: $0Net Income 2019: $02019Revenue 2020: $118,341Expenses 2020: $70,299Net Income 2020: $48,0422020Revenue 2021: $161,415Expenses 2021: $83,769Net Income 2021: $77,6462021Revenue 2022: $161,602Expenses 2022: $161,499Net Income 2022: $1032022Revenue 2023: $277,332Expenses 2023: $211,473Net Income 2023: $65,8592023Revenue 2024: $188,677Expenses 2024: $285,764Net Income 2024: -$97,0872024

Highlighted filing

2023

Revenue$277,332
Expenses$211,473
Net Income$65,859
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 5, 2024
Return Version
2023v5.0
Gross Receipts
$287,016
Mission and Program Overview

Mission

Advancing the development of contemporary concert music and other forms of artistic expression through performance, audience engagement and nurturing emerging artists.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds-$191,650-
Savings and Temporary Cash Investments$94,086$140,319▲ $46,233
Cap Stk Tr Prin Current Funds$125,791--
Cash and Non-Interest-Bearing Accounts$5,435$35,390▲ $29,955
Accounts Receivable$25,460$29,370▲ $3,910
Prepaid Expenses and Deferred Charges$2,310$11,693▲ $9,383
Total Assets$127,291$216,772▲ $89,481
Liabilities
Deferred Revenue-$13,364-
Other Liabilities-$6,260-
Accounts Payable and Accrued Expenses$1,500$5,498▲ $3,998
Total Liabilities$1,500$25,122▲ $23,622
Net Assets / Fund Balance
Total Net Assets Fund Balance$125,791$191,650▲ $65,859
Total Liabilities and Net Assets / Fund Balance$127,291$216,772▲ $89,481
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Peter AskimArtistic DirectorPT$10,250$10,250

Board Members and Trustees

NameTitle
Guy StoryPresident
Lydia KontosSecretary/tr
Ann GriggTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$266,903
Program Service Revenue
$9,620
Investment Income
$20
Other Revenue
$789
All Other Contributions
$266,903
Change in Net Assets
$65,859
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$211,473
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$107,204$35,948-$143,152
Advertising$20,768$1,058-$21,826
Occupancy$20,111--$20,111
Travel$18,529--$18,529
Office Expenses$3,592$1,926-$5,518
Insurance-$1,977-$1,977
Fees for Services Accounting-$360-$360
Total Functional Expenses$170,204$41,269$0$211,473
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit Cards$6,260
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Business relationship with 35% controlled entity
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, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“Documents will be provided upon request.”

Filing and Contact Details

Filer

Filer Name
Next Edge Arts Inc
EIN
84-3535421
Phone
8083935291
Address
188 GRAND STREET 2ND FL 1154, NEW YORK, NY 10013

Signing Officer

Name
Peter Askim
Title
Artistic Director
Phone
8083935291
Signed
2024-05-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Peter Askim
Formed
2019
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Firm
Rabon & Dailey Llp
Address
131 WIND CHIME COURT SUITE A, RALEIGH, NC 27615
Preparer
Jill R Ruvidich
Phone
9198440565
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

“Advancing the development of contemporary music and other forms of artistic expression through performance, audience engagement and nurturing emerging artists. Many individuals benefited from our programs. - our 2023 audiences were 770. - our facebook reach was 195,500 thousand, an increase of 185% compared to 2022. - our facebook visits were 91,200 thousand, an increase of 91.2% - our 2023 instagram reach was 64,300, an increase of 92.6%. - our 2023 instagram visits were 8,500, an increase of 92.3%. - our 2023 youtube views were 17,200, an increase of 78%. - our 2023 youtube subscribers was 73, an increase of 121%.”

Form 990, Part IX, Line 11G

“Licensing fee 285 530 0 comp tickets 120 0 0 consulting fee 4,597 4,596 0 instrument rental 327 0 0 membership 0 45 0 artist fee 7,000 0 0 artist fee - dancer 2,400 0 0 artist - director fee 15,000 0 0 composer fee 37,150 0 0 recording fee 2,100 0 0 managing director 12,600 18,900 0 public relations 4,375 4,377 0 program participation-earshot 15,980 0 0 project fee 272 0 0 ppe 480 0 0 reception 71 0 0 recording studio 1,750 0 0 video production 2,697 0 0 consulting fee strategic pla 0 7,500 0 total 107,204 35,948 0”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ADVANCING THE DEVELOPMENT OF CONTEMPORARY MUSIC AND OTHER FORMS OF ARTISTIC EXPRESSION THROUGH PERFORMANCE, AUDIENCE ENGAGEMENT AND NURTURING EMERGING ARTISTS. MANY INDIVIDUALS BENEFITED FROM OUR PROGRAMS. - OUR 2023 AUDIENCES WERE 770. - OUR FACEBOOK REACH WAS 195,500 THOUSAND, AN INCREASE OF 185% COMPARED TO 2022. - OUR FACEBOOK VISITS WERE 91,200 THOUSAND, AN INCREASE OF 91.2% - OUR 2023 INSTAGRAM REACH WAS 64,300, AN INCREASE OF 92.6%. - OUR 2023 INSTAGRAM VISITS WERE 8,500, AN INCREASE OF 92.3%. - OUR 2023 YOUTUBE VIEWS WERE 17,200, AN INCREASE OF 78%. - OUR 2023 YOUTUBE SUBSCRIBERS WAS 73, AN INCREASE OF 121%.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS WILL BE PROVIDED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3LICENSING FEE 285 530 0 COMP TICKETS 120 0 0 CONSULTING FEE 4,597 4,596 0 INSTRUMENT RENTAL 327 0 0 MEMBERSHIP 0 45 0 ARTIST FEE 7,000 0 0 ARTIST FEE - DANCER 2,400 0 0 ARTIST - DIRECTOR FEE 15,000 0 0 COMPOSER FEE 37,150 0 0 RECORDING FEE 2,100 0 0 MANAGING DIRECTOR 12,600 18,900 0 PUBLIC RELATIONS 4,375 4,377 0 PROGRAM PARTICIPATION-EARSHOT 15,980 0 0 PROJECT FEE 272 0 0 PPE 480 0 0 RECEPTION 71 0 0 RECORDING STUDIO 1,750 0 0 VIDEO PRODUCTION 2,697 0 0 CONSULTING FEE STRATEGIC PLA 0 7,500 0 TOTAL 107,204 35,948 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0127291
IRS990/TotalAssetsEOYAmt0216772
IRS990/TotalAssetsGrp/BOYAmt0127291
IRS990/TotalAssetsGrp/EOYAmt0216772
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0266903
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt041269
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0170204
IRS990/TotalFunctionalExpensesGrp/TotalAmt0211473
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01500
IRS990/TotalLiabilitiesEOYAmt025122
IRS990/TotalLiabilitiesGrp/BOYAmt01500
IRS990/TotalLiabilitiesGrp/EOYAmt025122
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0125791
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0191650
IRS990/TotalProgramServiceExpensesAmt0170204
IRS990/TotalProgramServiceRevenueAmt09620
IRS990/TotalReportableCompFromOrgAmt010250
IRS990/TotalRevenueGrp/ExclusionAmt0809
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt09620
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0277332
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0127291
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0216772
IRS990/TravelGrp/ProgramServicesAmt018529
IRS990/TravelGrp/TotalAmt018529
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0406 FRANK STREET
IRS990/USAddress/CityNm0RALEIGH
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027604
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IRS990/VotingMembersIndependentCnt04
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IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PETER ASKIM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0ARTISTIC DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08083935291
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NEXT EDGE ARTS INC
ReturnHeader/Filer/BusinessNameControlTxt0NEXT
ReturnHeader/Filer/EIN0843535421
ReturnHeader/Filer/PhoneNum08083935291
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ReturnHeader/Filer/USAddress/CityNm0NEW YORK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561761295
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RABON & DAILEY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0131 WIND CHIME COURT SUITE A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0RALEIGH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027615
ReturnHeader/PreparerPersonGrp/PhoneNum09198440565
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JILL R RUVIDICH
ReturnHeader/ReturnTs02024-05-14T09:13:07-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0PETER
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0ASKIM
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$216,772
Liabilities
$25,122
Net assets
$191,650
Revenue
$277,332
Expenses
$211,473
Net income
$65,859
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.95$0.00$0.95$1.89$2.86$0.97
2023Detailed filing. Detailed filing data is available for this year.$2.17$0.25$1.92$2.77$2.11$0.66
2022Detailed filing. Detailed filing data is available for this year.$1.27$0.02$1.26$1.62$1.61$0.00
2021Detailed filing. Detailed filing data is available for this year.$1.26$0.00$1.26$1.61$0.84$0.78
2020Detailed filing. Detailed filing data is available for this year.$0.48$0.00$0.48$1.18$0.70$0.48
2019Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00