American Academy In Rome
- Assets
- $145.7m
- Revenue
- $24.8m
- Investments
- $63.8m
- Employees
- 27
- Location
- New York, NY
- Founding
- 12/1926
- Data as of
- 08/2022
- EIN
- 13-1623881
Organization Overview
American Academy In Rome is located in New York, NY. The organization was established in 1926. According to its NTEE Classification (Q22) the organization is classified as: International Academic Exchange, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 08/2023, American Academy In Rome employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Academy In Rome 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 08/2022, American Academy In Rome generated $24.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $12.6m during the year ending 08/2022. While expenses have increased by 0.0% 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
THE AMERICAN ACADEMY IN ROME SUPPORTS INNOVATIVE ARTISTS AND SCHOLARS LIVING AND WORKING TOGETHER IN A DYNAMIC INTERNATIONAL COMMUNITY IN ROME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FELLOWSHIPS AND RESIDENCIES:THROUGH ITS ANNUAL ROME PRIZE FELLOWSHIP PROGRAM, THE ACADEMY SUPPORTED THIRTY- ONE INDIVIDUALS WORKING IN ARCHITECTURE, ANCIENT STUDIES, DESIGN, HISTORIC PRESERVATION AND CONSERVATION, LANDSCAPE ARCHITECTURE, LITERATURE, MEDIEVAL STUDIES, MODERN ITALIAN STUDIES, MUSICAL COMPOSITION, RENAISSANCE AND EARLY MODERN STUDIES, AND VISUAL ARTS. THE FELLOWSHIP WINNERS IN RESIDENCE AT THE ACADEMY PURSUE THEIR OWN INDEPENDENT PROJECTS FOR PERIODS OF 5 MONTHS TO 2 YEARS. IN ADDITION, THE ACADEMY COMMUNITY INCLUDED TWELVE RESIDENTS, WHO ARE EMINENT ARTISTS AND SCHOLARS WHO STAY AT THE ACADEMY FOR PERIODS UP TO 4 MONTHS, TWENTY-ONE AFFILIATED FELLOWS, SELECTED BY SPONSORING INSTITUTIONS, AND FIVE ITALIAN FELLOWS, SELECTED BY THE ACADEMY TO STAY AT THE ACADEMY FOR PERIODS OF 3 OR 4 MONTHS.
ARTS AND HUMANITIES EVENTS, SUMMER PROGRAMS, PUBLICATIONS AND OTHER PROGRAMS.
OTHER RESIDENTIAL PROGRAMS:THE ACADEMY COMMUNITY INCLUDED 78 VISITING ARTISTS AND SCHOLARS WHO RENT ROOMS, APARTMENTS, STUDY SPACES, AND STUDIOS WHILE PURSUING THEIR RESEARCH IN ROME.
ARTHUR AND JANET C. ROSS LIBRARY:THE LIBRARY'S WIDE-RANGING CATALOGUE INCLUDES INVALUABLE COLLECTIONS IN HISTORY, ARCHAEOLOGY, AND THE ART OF ROME AND ITALY. IT INCLUDES AN EXTENSIVE PHOTOGRAPHIC ARCHIVE DOCUMENTING ROME'S MANY MONUMENTS AS WELL AS A COMPREHENSIVE RECORD OF THE WORK OF PAST ROME PRIZE FELLOWS, AND A SMALL BUT VARIED TEACHING COLLECTION OF ANTIQUITIES RANGING FROM STATUES AND INSCRIPTIONS TO POTTERY AND MILLSTONES. WITH OVER 168,000 HOLDINGS IN CLASSICAL STUDIES AND THE HISTORY OF ART AND ARCHITECTURE, THE LIBRARY IS WIDELY RESPECTED FOR ITS COLLECTIONS IN ANCIENT MEDITERRANEAN ARCHAEOLOGY AND ART, GREEK AND LATIN LITERATURE, ANCIENT TOPOGRAPHY INCLUDING THE HISTORY OF THE CITY OF ROME, ANCIENT RELIGIONS, AS WELL AS RELATED FIELDS SUCH AS EPIGRAPHY, NUMISMATICS AND PAPYROLOGY. THE RARE BOOK COLLECTION CONSISTS CHIEFLY OF 16TH TO 18TH CENTURY IMPRINTS IN CLASSICAL STUDIES, ARCHAEOLOGY, ART, AND ARCHITECTURE, INCLUDING A SIZEABLE COLLECTION OF ROMAN GUIDEBOOKS AND EARLY ART TREATISES. FURTHER INCLUDED ARE TITLES IN CONTEMPORARY ART AND ARCHITECTURE, LANDSCAPE ARCHITECTURE, ITALIAN HISTORY AND LITERATURE, AMERICAN LITERATURE, HISTORICAL TRAVEL BOOKS, AND MUSIC. THE MAIN USERS OF THE LIBRARY ARE THE FELLOWS AND RESIDENTS OF THE AMERICAN ACADEMY, BUT READING PASSES ARE ALSO ISSUED TO ITALIAN SCHOLARS, QUALIFIED ROMAN RESIDENTS, AND VISITING ARTISTS AND SCHOLARS. THE LIBRARY COUNTS APPROXIMATELY 9,000 VISITS ANNUALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Calvin Tsao Chair (effective 1/1/2023) | OfficerTrustee | 10 | $0 |
Cary J Davis Chair (until 12/31/2022) | OfficerTrustee | 10 | $0 |
Alessia Antinori Vice-Chair (effective 1/1/2023) | OfficerTrustee | 2 | $0 |
John F W Rogers Vice-Chair (until 12/31/2022) | OfficerTrustee | 2 | $0 |
William M Cameron Treasurer | OfficerTrustee | 2 | $0 |
Jim Brennan Secretary (until 12/31/2022) | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Clune Construction Co Lp Ny Office Construction | 8/30/23 | $1,096,923 |
Spencer Stuart Search Fee | 8/30/23 | $170,500 |
Monticello Associates Investment Management | 8/30/23 | $125,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,495,970 |
| Related organizations | $0 |
| Government grants | $233,133 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,794,948 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,524,051 |
| Total Program Service Revenue | $1,692,737 |
| Investment income | $439,434 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $30,196 |
| Net Gain/Loss on Asset Sales | $11,128,667 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,816,827 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $773,090 |
| Grants and other assistance to Foreign Orgs/Individuals | $38,550 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,108,059 |
| Compensation of current officers, directors, key employees. | $110,138 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,154,720 |
| Pension plan accruals and contributions | $69,549 |
| Other employee benefits | $338,602 |
| Payroll taxes | $627,845 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $101,864 |
| Fees for services: Accounting | $65,110 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $125,000 |
| Fees for services: Other | $2,259,509 |
| Advertising and promotion | $1,435 |
| Office expenses | $622,782 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,872,627 |
| Travel | $207,029 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,905 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $985,547 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $12,581,577 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,446,343 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $5,408,705 |
| 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 | $705,738 |
| Net Land, buildings, and equipment | $13,870,763 |
| Investments—publicly traded securities | $48,700,261 |
| Investments—other securities | $63,827,067 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,708,688 |
| Total assets | $145,667,565 |
| Accounts payable and accrued expenses | $2,106,928 |
| Grants payable | $0 |
| Deferred revenue | $499,468 |
| 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 | $367,454 |
| Other liabilities | $8,662,391 |
| Total liabilities | $11,636,241 |
| Net assets without donor restrictions | $33,184,666 |
| Net assets with donor restrictions | $100,846,658 |
| 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 | $145,667,565 |