New York Academy Of Art is located in New York, NY. The organization was established in 1992. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 06/2021, New York Academy Of Art employed 179 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New York Academy Of Art 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 06/2021, New York Academy Of Art generated $9.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $8.4m during the year ending 06/2021. While expenses have increased by 5.6% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE NEW YORK ACADEMY OF ART IS A UNIQUE GRADUATE SCHOOL THAT COMBINES INTENSIVE TECHNICAL TRAINING IN THE FINE ARTS WITH ACTIVE CRITICAL DISCOURSE. WE BELIEVE THAT RIGOROUSLY TRAINED ARTISTS ARE BEST ABLE TO REALIZE THEIR ARTISTIC VISION. THEREFORE, ACADEMY STUDENTS ARE TAUGHT TRADITIONAL METHODS AND TECHNIQUES AND ENCOURAGED TO USE THESE SKILLS TO MAKE VITAL CONTEMPORARY ART. AS SUCH, THE ACADEMY SERVES AS A CREATIVE AND INTELLECTUAL CENTER FOR ALL ARTISTS DEDICATED TO HIGHLY-SKILLED, CONCEPTUALLY-AWARE FIGURATIVE AND REPRESENTATIONAL ART.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MASTER OF FINE ARTS - THE MASTER OF FINE ARTS PROGRAM AT THE ACADEMY OFFERS SEQUENTIAL COURSES THAT PROVIDE EXTRAORDINARY INSTRUCTION IN PAINTING, DRAWING AND SCULPTURE. STUDENTS AT THE ACADEMY PROCEED THROUGH THE SEQUENCE OF COURSES DEVELOPING THEIR SKILLS AND THEIR KNOWLEDGE OF ART HISTORY AND CONTEMPORARY DISCOURSE, SIMULTANEOUSLY. INSTRUCTION AT THE ACADEMY IS PROVIDED BY SOME OF THE MOST PROMINENT LEADERS OF THE CONTEMPORARY FIGURATIVE AND REPRESENTATIONAL ART WORLD. CLASS SIZE IS LIMITED AND CONTACT WITH INSTRUCTORS IS DIRECT WITH TECHNICAL DEMONSTRATIONS AND ACTIVE CRITICAL DISCOURSE. GRADUATES OF THE ACADEMY ARE UNIQUELY CAPABLE OF APPLYING THE LESSONS OF ART HISTORY TO CONTEMPORARY ARTMAKING, GUARANTEEING THAT TECHNICALLY RICH AND CONCEPTUALLY AWARE ART WILL CONTINUE TO FLOURISH.
THE CONTINUING EDUCATION PROGRAM AT THE ACADEMY OFFERS THE OPPORTUNITY TO STUDY PAINTING, DRAWING AND SCULPTURE TO INDIVIDUALS NOT INTERESTED IN PURSUING A MASTER OF FINE ARTS DEGREE OR HOPING TO BUILD THE SKILLS NEEDED TO SUCCESSFULLY APPLY TO OUR GRADUATE PROGRAM. LEARNING TO DRAW, PAINT OR SCULPT IN THE STUDIO OF A MASTER ARTIST IS A TIME-HONORED TRADITION THROUGH WHICH KNOWLEDGE AND SKILLS ARE PASSED FROM GENERATION TO GENERATION. THE "ATELIER" OF THE ACADEMY IS A CONTINUING EDUCATION PROGRAM THAT OFFERS THE SERIOUS STUDENT AND PASSIONATE BEGINNER AN OPPORTUNITY TO STUDY WITH ACCOMPLISHED ARTISTS. HERE, STUDENTS ACQUIRE THE SKILLS NECESSARY TO INVEST THEIR WORK WITH SOUND DRAFTSMANSHIP, CONVINCING TECHNIQUE AND VISUAL AUTHORITY. THE CONTINUING EDUCATION PROGRAM OFFERS CLASSES DURING THE WEEK DAYS AND EVENINGS, AS WELL AS DURING THE DAY ON SATURDAY AND SUNDAY. CLASSES AVERAGE 11 STUDENTS. ALL CLASSES ARE INSTRUCTED. AVERAGE TOTAL ENROLLMENT PER SEMESTER FOR ALL CLASSES IS 261 STUDENTS. TYPICAL CLASSES MEET ONCE A WEEK FOR 3 HOURS. FALL AND SPRING SEMESTERS ARE 12 WEEKS IN LENGTH. SUMMER SEMESTER IS 10 WEEKS IN LENGTH.
THE NEW YORK ACADEMY OF ART'S EXHIBITION AND EVENTS PROGRAM PROMOTE THE ACADEMY'S COMMUNITY AND SUPPORT STUDENTS, ALUMNI AND FACULTY BY PROVIDING EXHIBITION AND CAREER DEVELOPMENT OPPORTUNITIES, CREATING OCCASIONS TO ENGAGE WITH DONORS, COLLECTORS, AND THE GENERAL PUBLIC. BOTH DEPARTMENTS RAISE FUNDS FOR SCHOLARSHIPS, EDUCATIONAL PROGRAMMING AND GENERAL OPERATING, AND THESE DEPARTMENTS ALSO INCREASE THE AUDIENCE AND ENHANCE THE PROFILE OF THE SCHOOL. THE ACADEMY'S EVENTS/EXHIBITIONS TEAM IS RESPONSIBLE FOR THE CREATIVE AND BUDGETARY PRODUCTION OF NEARLY 50 UNIQUE AND NOTEWORTHY SPECIAL EVENTS, EXHIBITIONS AND CULTIVATION-RELATED PROJECTS FROM CONCEPT THROUGH COMPLETION. THE ACADEMY'S EVENTS AND PROGRAMS INCLUDE MAJOR ART FAIRS, EXHIBITION OPENINGS, GATHERINGS FOR PATRONS, COLLECTORS, DEALERS, DRAWING PARTIES TO FURTHER CULTIVATE HIGHER-PROFILE ARTISTS AND NEW DONORS, OUR ANNUAL HOLIDAY PARTY, AND TWO MAJOR FUNDRAISING EVENTS DECK THE WALL AND TAKE HOME A NUDE.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
David Kratz President | OfficerTrustee | 35 | $283,879 |
Peter Drake Provost | Officer | 35 | $186,929 |
Stephan Korsakov Chief Financial Officer | Officer | 35 | $181,155 |
Gregory Thornbury Vice President Of Developm | 35 | $154,333 | |
Eric Fischl Trustee | Trustee | 1 | $14,944 |
Alyssa Monks Trustee | Trustee | 1 | $10,835 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Walden Macht & Haran Llp Legal Services | 6/29/21 | $552,728 |
Nardello & Co Llp Legal Services | 6/29/21 | $308,234 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $1,279,176 |
All other contributions, gifts, grants, and similar amounts not included above | $3,016,318 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $4,295,494 |
Total Program Service Revenue | $4,475,507 |
Investment income | $53,343 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $10,906 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $9,146,405 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $1,115,496 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $906,793 |
Compensation of current officers, directors, key employees. | $156,296 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $2,710,251 |
Pension plan accruals and contributions | $7,197 |
Other employee benefits | $221,447 |
Payroll taxes | $268,492 |
Fees for services: Management | $0 |
Fees for services: Legal | $188,148 |
Fees for services: Accounting | $38,245 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $147,133 |
Advertising and promotion | $14,316 |
Office expenses | $219,352 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $412,531 |
Travel | $30,295 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $21,389 |
Interest | $289,901 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $566,776 |
Insurance | $155,838 |
All other expenses | $185,187 |
Total functional expenses | $8,445,513 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,083,108 |
Savings and temporary cash investments | $3,424,374 |
Pledges and grants receivable | $534,453 |
Accounts receivable, net | $55,132 |
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 | $66,629 |
Net Land, buildings, and equipment | $8,606,575 |
Investments—publicly traded securities | $3,647,467 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $65,209 |
Other assets | $74,423 |
Total assets | $18,557,370 |
Accounts payable and accrued expenses | $610,954 |
Grants payable | $0 |
Deferred revenue | $255,455 |
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 | $4,810,701 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $184,148 |
Total liabilities | $5,861,258 |
Net assets without donor restrictions | $11,412,074 |
Net assets with donor restrictions | $1,284,038 |
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 | $18,557,370 |
Over the last fiscal year, we have identified 2 grants that New York Academy Of Art has recieved totaling $172,000.
Awarding Organization | Amount |
---|---|
Russell Colgate Fund Inc Wilmington, DE PURPOSE: GENERAL PURPOSES | $160,000 |
Association Of Charles Evans Housing Foundation New York, NY PURPOSE: CHARITABLE GIVING | $12,000 |
Beg. Balance | $426,402 |
Earnings | $129,663 |
Other Expense | $1,889 |
Ending Balance | $554,176 |
Organization Name | Assets | Revenue |
---|---|---|
Boston Architectural College Boston, MA | $43,735,977 | $21,122,754 |
Rabbi Isaac Elchanan Theological Seminary New York, NY | $154,914,739 | $24,312,479 |
Webb Institute Glen Cove, NY | $108,979,783 | $22,554,419 |
Clark Summit University Clarks Summit, PA | $12,253,431 | $11,847,715 |
Rosedale Technical College Pittsburgh, PA | $9,955,350 | $10,972,229 |
Sackler School Of Medicine New York, NY | $3,810,351 | $9,320,787 |
New York Academy Of Art New York, NY | $18,557,370 | $9,146,405 |
Auburn Theological Seminary New York, NY | $28,146,377 | $5,237,023 |
Hartford International University For Religion And Peace Hartford, CT | $70,630,501 | $3,322,795 |
Massachusetts School Of Law At Andover Andover, MA | $10,679,528 | $4,847,415 |
New York Theological Seminary New York, NY | $2,378,321 | $4,439,036 |
Yeshiva Derech Chaim Brooklyn, NY | $2,751,947 | $4,396,697 |