American Watercolor Society Inc
- Assets
- $1.5m
- Revenue
- $275.6k
- Investments
- $0.0
- Employees
- 2
- Location
- New York, NY
- Founding
- 01/1960
- Data as of
- 09/2021
- EIN
- 13-5658159
Organization Overview
American Watercolor Society Inc is located in New York, NY. The organization was established in 1960. As of 09/2021, American Watercolor Society Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Watercolor Society 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 09/2021, American Watercolor Society Inc generated $275.6k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $243.5k during the year ending 09/2021. 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
TO FOSTER THE ADVANCEMENT OF THE ART OF WATERCOLOR PAINTING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL EXHIBIT WITH MORE THAN 100 PAINTINGS WITH NO ADMISSION CHARGE TO THE PUBLIC. SELECTED PAINTINGS FROM SHOW THEN TOUR AT MUSEUMS THROUGHOUT THE COUNTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Patt Executive Director | Officer | 40 | $60,000 |
Antonio Masi President | OfficerTrustee | 5 | $0 |
Joel Popadics Vp/treasurer | OfficerTrustee | 5 | $0 |
Carol Mcdermott Vice-President | OfficerTrustee | 5 | $0 |
Tim Saternow Secretary | OfficerTrustee | 5 | $0 |
Dean Mitchell Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $66,390 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $27,517 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $93,907 |
| Total Program Service Revenue | $62,108 |
| Investment income | $33,773 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $85,774 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $275,562 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,550 |
| 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. | $60,000 |
| Compensation of current officers, directors, key employees. | $18,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $24,120 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $608 |
| Payroll taxes | $6,886 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,755 |
| Fees for services: Other | $2,795 |
| Advertising and promotion | $0 |
| Office expenses | $8,282 |
| Information technology | $2,409 |
| Royalties | $0 |
| Occupancy | $18,930 |
| Travel | $987 |
| 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 | $13 |
| Insurance | $2,471 |
| All other expenses | $9,033 |
| Total functional expenses | $243,532 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $72,690 |
| Savings and temporary cash investments | $78,004 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,818 |
| 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 | $15,263 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,289,475 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,894 |
| Total assets | $1,468,144 |
| Accounts payable and accrued expenses | $2,652 |
| Grants payable | $0 |
| Deferred revenue | $47,250 |
| 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 | $1,924 |
| Total liabilities | $51,826 |
| Net assets without donor restrictions | $363,538 |
| Net assets with donor restrictions | $1,052,780 |
| 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 | $1,468,144 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that American Watercolor Society Inc has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
Vermont Community Foundation Middlebury, VT PURPOSE: GENERAL PURPOSE | $6,000 |
Endowment Analysis
| Beg. Balance | $1,288,070 |
| Earnings | $185,596 |
| Net Contributions | $10,173 |
| Other Expense | $116,360 |
| Ending Balance | $1,367,479 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Epoch Times Association Inc New York, NY | $35,086,092 | $121,545,102 |
New York Public Radio New York, NY | $128,472,893 | $81,924,982 |
American Musical & Dramatic Academy New York, NY | $154,874,684 | $91,373,218 |
Whitney Museum Of American Art New York, NY | $937,771,000 | $113,143,000 |
National September 11 Memorial And Museum At The World Trade Center New York, NY | $601,946,963 | $89,488,435 |
Music And Event Management Inc Cincinnati, OH | $33,809,112 | $73,072,797 |
The Carnegie Hall Corporation New York, NY | $718,141,781 | $55,324,262 |
Philadelphia Museum Of Art Philadelphia, PA | $1,255,022,756 | $116,812,968 |
Boston Symphony Orchestra Inc Boston, MA | $745,262,219 | $89,872,398 |
Cleveland Museum Of Art Cleveland, OH | $1,319,088,329 | $90,038,138 |
Solomon R Guggenheim Foundation New York, NY | $240,294,871 | $73,166,662 |
Museum Of Science Boston, MA | $308,551,835 | $49,955,104 |