Boston Arts Academy Foundation Inc
- Assets
- $12.4m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 12
- Location
- Boston, MA
- Founding
- 11/1999
- Data as of
- 06/2023
- 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 06/2023, Boston Arts Academy Foundation Inc employed 12 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 06/2023, Boston Arts Academy Foundation Inc generated $5.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 17.2% each year . All expenses for the organization totaled $4.9m during the year ending 06/2023. While expenses have increased by 9.7% per year over the past 8 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
2023
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.
VISUAL ARTS: PROGRAM FOSTERS ARTISTS WITH STRONG TECHNICAL SKILLS AND CRITICAL THINKING ABILITIES, HELPING THEM TO DEVELOP THEIR OWN UNIQUE VOICES AND CONFIDENCE TO TAKE CREATIVE RISKS.
DANCE: A RIGOROUS AND COMPREHENSIVE PROGRAM DESIGNED TO STRETCH OUR STUDENTS' CREATIVITY AND CRITICAL THINKING, ENABLING THEM TO ACCELERATE IN THEIR DEVELOPMENT AS BOTH DANCERS AND SCHOLARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Rosica Board Chair | OfficerTrustee | 4 | $0 |
Donna Harris-Lewis Vice Chair | OfficerTrustee | 4 | $0 |
David Felton Treasurer | OfficerTrustee | 4 | $0 |
Maggie Baxter Board Member | Trustee | 4 | $0 |
Petrina Cherry Board Member | Trustee | 4 | $0 |
Ashley Webb Colleary Board Member | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $64,050 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,932,944 |
| Noncash contributions included in lines 1a–1f | $2,678 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,996,994 |
| Total Program Service Revenue | $0 |
| Investment income | $145,132 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $128,704 |
| Net Income from Fundraising Events | $1,742,004 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,012,834 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $261,496 |
| Grants and other assistance to domestic individuals. | $241,748 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $374,821 |
| Compensation of current officers, directors, key employees. | $93,705 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,737,730 |
| Pension plan accruals and contributions | $56,007 |
| Other employee benefits | $83,491 |
| Payroll taxes | $83,793 |
| 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 | $579,661 |
| Advertising and promotion | $0 |
| Office expenses | $316,769 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $103,936 |
| 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 | $62,318 |
| Insurance | $8,700 |
| All other expenses | $79,890 |
| Total functional expenses | $4,896,799 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,785,786 |
| Pledges and grants receivable | $4,240,610 |
| Accounts receivable, net | $0 |
| 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 | $106,256 |
| Net Land, buildings, and equipment | $129,147 |
| Investments—publicly traded securities | $4,945,392 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $171,396 |
| Total assets | $12,378,587 |
| Accounts payable and accrued expenses | $1,246,949 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| 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 | $171,396 |
| Total liabilities | $1,418,345 |
| Net assets without donor restrictions | $3,666,076 |
| Net assets with donor restrictions | $7,294,166 |
| 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 | $12,378,587 |