The Armory Foundation is located in New York, NY. The organization was established in 1992. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 06/2023, Armory Foundation employed 105 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Armory Foundation 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, Armory Foundation generated $7.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $8.2m during the year ending 06/2023. While expenses have increased by 2.9% 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
THE ARMORY FOUNDATION IS DEDICATED TO SERVING YOUTH BY PROMOTING FITNESS AND EDUCATION THROUGH A BROAD RANGE OF ATHLETIC, EDUCATIONAL AND COMMUNITY PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRACK AND FIELD MEETS: TYPICALLY, OVER 100 TRACK AND FIELD MEETS ARE HELD EACH YEAR AT THE ARMORY RANGING IN SIZE FROM 100 ATHLETES TO OVER 5,000. THE ARMORY TRACK IS CONSIDERED TO BE THE FASTEST TRACK IN THE WORLD AND ATTRACTS ATHLETES AND SPECTATORS FROM ALL OVER THE UNITED STATES. TRACK PRACTICES: IN A NORMAL YEAR, THE ARMORY HOSTS 220 TRACK PRACTICE SESSIONS EACH SEASON ATTRACTING APPROXIMATELY 50,000 VISITS OF MOSTLY YOUNG ATHLETES. THE TRACK SEASON RUNS FROM OCTOBER THROUGH THE MIDDLE OF APRIL. THE OBJECTIVE IS TO FULFILL THE MISSION OF THE ARMORY OF KEEPING KIDS ON TRACK. TRACK AND FIELD ACTIVITIES RETURNED TO NORMAL LEVELS AFTER TWO YEARS THAT WERE IMPACTED BY COVID.
HIGH SCHOOL TRAINING: UP TO 2,000 NEW YORK CITY STUDENTS TRAIN AT THE ARMORY, TUESDAYS AND THURSDAYS FROM NOVEMBER TO APRIL ON THE FABLED ARMORY TRACK. TRAINING INCLUDES A SUPPLEMENTAL COACHING STAFF PAID BY THE ARMORY TO HELP STUDENTS DEVELOP THEIR SKILLS. MOST STUDENTS HAVE COACHES WHO ARE FLUENT IN ONE OF THE EVENTS OF TRACK AND FIELD. FEW ARE EXPERTS IN THROWING, POLEVAULTING, HURDLES OR EVEN RACE-WALKING. IN ORDER TO PROVIDE THE BEST POSSIBLE EXPERIENCE, THE ARMORY BRINGS IN THESE COACHES. YOUTH TRAINING: IN A NORMAL YEAR, AS MANY AS 500 STUDENTS IN GRADES 2-8 FROM WASHINGTON HEIGHTS, INWOOD AND HARLEM TRAIN AT THE ARMORY MONDAYS AND WEDNESDAYS FROM OCTOBER TO MAY ON THE CITY TRACK, LITTLE FEET AND TINY FEET PROGRAMS. A FULL COACHING STAFF IS PROVIDED TO THE CHILDREN TO TEACH THE BASICS OF TRACK AND FIELD AND TO ENSURE THE CHILDREN HAVE PLENTY OF FUN AT THE SAME TIME.
ARMORY COLLEGE PREP HIGH SCHOOL: THIS IS A FOCUSED PROGRAM TARGETING HIGH SCHOOL STUDENTS WHO PRACTICE AT THE ARMORY, MANY OF WHOM WILL BE FIRST GENERATION COLLEGE STUDENTS. ARMORY COLLEGE PREP SUPPLIES RIGOROUS ACADEMIC INSTRUCTION, SAT PREP CLASSES, ONE-ON-ONE COLLEGE COUNSELING, INCLUDING FINANCIAL AID AND NCAA REGULATION INFORMATION AND MULTIPLE TRIPS TO VISIT COLLEGES. IN A TYPICAL YEAR, THIS PROGRAM WORKS WITH OVER 80 STUDENTS EACH YEAR TO COMPLETE HIGH SCHOOL, GAIN ACCEPTANCE TO AND TO SUCCEED AT COLLEGE. DUE TO COVID-19, THE NUMBER OF STUDENTS IN ACP WAS REDUCED BY APROXIMATELY 20%. ARMORY COLLEGE PREP MIDDLE SCHOOL: THIS PROGRAM WORKS WITH STUDENTS IN GRADES 4-8 FROM WASHINGTON HEIGHTS, INWOOD AND HARLEM. THE FOCUS OF THE PROGRAM IS TO ENGAGE THE STUDENTS IN MATH, READING AND ROBOTICS, ENCOURAGE GOOD STUDY HABITS AND PROVIDE GUIDANCE ON HIGH SCHOOL CHOICE FOR CHILDREN AND THEIR FAMILIES. THE ARMORY HAS EXPERIENCED STEADY ENROLLMENT OF APPROXIMATELY 60 STUDENTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Name Not Listed Treasurer | OfficerTrustee | 2 | $0 |
Name Not Listed Vice Chairman | OfficerTrustee | 2 | $0 |
Name Not Listed Chairman | OfficerTrustee | 2 | $0 |
Name Not Listed Secretary | OfficerTrustee | 2 | $0 |
Name Not Listed Director | Trustee | 2 | $0 |
Name Not Listed Director | Trustee | 2 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Nicholas And Lence Public Relations | 6/29/18 | $145,653 |
The State Group Tutoring | 6/29/18 | $230,532 |
Nicholas And Lence Public Relations | 6/29/18 | $145,653 |
The State Group Tutoring | 6/29/18 | $230,532 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $134,640 |
Related organizations | $0 |
Government grants | $141,637 |
All other contributions, gifts, grants, and similar amounts not included above | $3,533,167 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $3,809,444 |
Total Program Service Revenue | $3,522,693 |
Investment income | $20,103 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $346,610 |
Net Gain/Loss on Asset Sales | $21,386 |
Net Income from Fundraising Events | -$30,050 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $7,765,283 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $944,666 |
Compensation of current officers, directors, key employees. | $94,467 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $2,524,658 |
Pension plan accruals and contributions | $14,962 |
Other employee benefits | $294,124 |
Payroll taxes | $326,191 |
Fees for services: Management | $0 |
Fees for services: Legal | $52,500 |
Fees for services: Accounting | $1,162 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $850,222 |
Advertising and promotion | $75,117 |
Office expenses | $1,497,426 |
Information technology | $70,358 |
Royalties | $0 |
Occupancy | $0 |
Travel | $210,855 |
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 | $831,705 |
Insurance | $69,695 |
All other expenses | $0 |
Total functional expenses | $8,191,894 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,625,829 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $146,637 |
Accounts receivable, net | $262,719 |
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 | $161,914 |
Net Land, buildings, and equipment | $6,503,824 |
Investments—publicly traded securities | $850,763 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $9,551,686 |
Accounts payable and accrued expenses | $453,388 |
Grants payable | $0 |
Deferred revenue | $106,369 |
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 | $0 |
Total liabilities | $559,757 |
Net assets without donor restrictions | $8,729,047 |
Net assets with donor restrictions | $262,882 |
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 | $9,551,686 |