New York Academy Of Art

Organization Overview

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.

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.


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Board, Officers & Key Employees

Name (title)Compensation
David Kratz
President
$283,879
Peter Drake
Provost
$186,929
Stephan Korsakov
Chief Financial Officer
$181,155
Gregory Thornbury
Vice President Of Developm
$154,333
Eric Fischl
Trustee
$14,944
Alyssa Monks
Trustee
$10,835

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Walden Macht & Haran Llp
Legal Services
$552,728
Nardello & Co Llp
Legal Services
$308,234
View All Vendors

Financial Statements

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

Grants Recieved

Over the last fiscal year, we have identified 2 grants that New York Academy Of Art has recieved totaling $172,000.

Awarding OrganizationAmount
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
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$426,402
Earnings$129,663
Other Expense$1,889
Ending Balance$554,176

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