Boston Arts Academy Foundation Inc
- Assets
- $11.1m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 14
- Location
- Boston, MA
- Founding
- 11/1999
- Data as of
- 06/2022
- EIN
- 04-3454898
Organization Overview
Boston Arts Academy Foundation Inc is located in Boston, MA. The organization was established in 1999. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Boston Arts Academy Foundation Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boston Arts Academy Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Boston Arts Academy Foundation Inc generated $3.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.0% each year . All expenses for the organization totaled $2.8m during the year ending 06/2022. While expenses have increased by 2.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE PRIVATE FUNDS IN SUPPORT OF OUR CITY'S ONLY PUBLIC HIGH SCHOOL FOR THE ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACADEMIC SUPPORT: FUNDS ARE USED TO SUPPORT INNOVATIVE CURRICULA FOR BOSTON ARTS ACADEMY'S STUDENTS. CURRICULUM TRANSFORMS TRADITIONAL CLASSROOM TEACHING BY INTEGRATING STUDENTS' PASSION FOR THE ARTS, BEING INTERDISCIPLINARY, HANDS-ON, AND PROJECT-BASED. BY FOCUSING ON STUDENTS' STRENGTHS, BOSTON ARTS ACADEMY INSPIRES STUDENTS TO COMMIT TO THEIR SCHOOLING AND TRANSFORMS THE LIVES OF ITS STUDENTS THROUGH A SCHOOLWIDE LITERACY INITIATIVE AND INTEGRATING THE ARTS INTO SCIENCE, TECHNOLOGY, ENGINEERING, AND MATH.
ART SUPPORT: IN ADDITIONAL TO A FULL COLLEGE PREP CURRICULUM, STUDENTS RECEIVE 2 1/2 HOURS OF ARTS CLASSES EACH DAY IN THEIR CHOSEN DISCIPLINE - DANCE, VOCAL MUSIC, INSTRUMENTAL MUSIC, THEATER, FASHION TECHNOLOGY, OR VISUAL ARTS. FUNDS GO TO SUPPORT THE ARTS TEACHERS, ADJUNCTS, ART SUPPLIES AND PRODUCTION COSTS NOT COVERED BY DISTRICT ALLOCATIONS. AS A RESULT OF THIS UNIQUE ARTS AND ACADEMIC EDUCATION, OVER 97% OF GRADUATES ARE REGULARLY ACCEPTED TO COLLEGE, MOST THE FIRST IN THEIR FAMILIES TO DO SO.
HEALTH AND WELLNESS: PROGRAM OFFERS BASIC, POSITIVE MENTAL HEALTH SERVICES AND PROGRAMS TO PROACTIVELY ADDRESS THE SOCIAL EMOTIONAL NEEDS OF BOSTON ARTS ACADEMY STUDENTS FROM 9TH TO 12TH GRADE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denella Clark President & CEO | Officer | 40 | $271,274 |
Jeff Rosica Board Chair | OfficerTrustee | 4 | $0 |
Donna Harris-Lewis Vice Chair | OfficerTrustee | 4 | $0 |
David Felton Treasurer | OfficerTrustee | 4 | $0 |
Petrina Cherry Board Member | Trustee | 4 | $0 |
Maggie Baxter Board Member | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $114,355 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,144,681 |
| Noncash contributions included in lines 1a–1f | $5,599 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,259,036 |
| Total Program Service Revenue | $0 |
| Investment income | $100,124 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $147,873 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,508,715 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $344,844 |
| Grants and other assistance to domestic individuals. | $216,160 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $306,567 |
| Compensation of current officers, directors, key employees. | $76,642 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $839,218 |
| Pension plan accruals and contributions | $46,395 |
| Other employee benefits | $88,020 |
| Payroll taxes | $67,610 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $188,226 |
| Advertising and promotion | $0 |
| Office expenses | $156,832 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $90,768 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $57,103 |
| Insurance | $7,239 |
| All other expenses | $91,920 |
| Total functional expenses | $2,839,308 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,753,574 |
| Pledges and grants receivable | $4,135,863 |
| Accounts receivable, net | $342,553 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $156,740 |
| Investments—publicly traded securities | $3,741,644 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,130,374 |
| Accounts payable and accrued expenses | $447,216 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,173 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $448,389 |
| Net assets without donor restrictions | $3,491,348 |
| Net assets with donor restrictions | $7,190,637 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,130,374 |
Grants Recieved
Over the last fiscal year, we have identified 20 grants that Boston Arts Academy Foundation Inc has recieved totaling $628,797.
| Awarding Organization | Amount |
|---|---|
Klarman Family Foundation Boston, MA PURPOSE: MUSIC PATHWAYS FOR YOUTH: UNRESTRICTED OPERATING AND CAPITAL SUPPORT, AND A CHALLENGE GRANT TO STRENGTHEN INDIVIDUAL DEVELOPMENT EFFORTS FOR FISCAL YEARS 2020 AND 2021 | $250,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $106,550 |
Rowland Foundation Inc Boston, MA PURPOSE: CHARITABLE | $75,000 |
Martin W Richard Charitable Dorchester, MA PURPOSE: UNRESTRICTED | $30,000 |
Fiduciary Charitable Foundation Boston, MA PURPOSE: DONATIONS | $24,000 |
American Tower Charitable Foundation Inc Boston, MA PURPOSE: GENERAL PURPOSE | $20,000 |
Endowment Analysis
| Beg. Balance | $4,299,438 |
| Earnings | -$400,794 |
| Net Contributions | $18,000 |
| Other Expense | $175,000 |
| Ending Balance | $3,741,644 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Friends Of The Israel Antiquities Authority Inc New York, NY | $7,188,185 | $4,799,124 |
Tate Americas Foundation New York, NY | $101,513,410 | $8,735,378 |
Museo Reina Sofia Foundation Usa Inc New York, NY | $1,828,282 | $604,276 |
American Associates Of The National Theatre Inc New York, NY | $4,697,341 | $5,678,751 |
American Friends Of The Israel Philharmonic Orchestra Inc New York, NY | $30,416,918 | $8,529,001 |
American Friends Of The Louvre Inc New York, NY | $14,733,047 | $4,946,706 |
American Friends Of The National Portrait Gallery Foundation Inc New York, NY | $1,343,323 | $3,284,122 |
Coolidge Corner Theatre Foundation Inc Brookline, MA | $13,995,984 | $5,567,271 |
Boston Arts Academy Foundation Inc Boston, MA | $11,130,374 | $3,508,715 |
Friends Of The New York Transit Museum Brooklyn, NY | $12,792,750 | $2,066,293 |
Catskill Mountain Foundation Inc Hunter, NY | $10,564,799 | $2,283,674 |
Friends Of Emblaze Academy Charter School Inc Bronx, NY | $24,650,009 | $2,052,334 |