Poetry Society Of America is located in New York, NY. The organization was established in 1937. According to its NTEE Classification (A70) the organization is classified as: Humanities, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Poetry Society Of America employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Poetry Society Of America 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 06/2022, Poetry Society Of America generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.0% each year . All expenses for the organization totaled $722.1k during the year ending 06/2022. While expenses have increased by 4.0% 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
TO BUILD A LARGER AND MORE DIVERSE AUDIENCE FOR POETRY, (CONTINUED ON SCHEDULE O) TO ENCOURAGE A DEEPER APPRECIATION OF THE VITALITY AND BREADTH OF POETRY IN THE CULTURAL CONVERSATION, AND TO PLACE POETRY AT THE CROSSROADS OF AMERICAN LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC PROGRAMS:THE POETRY SOCIETY PRESENTS LIVE AND DIGITAL PROGRAMS THAT EXPLORE THE WORK OF INDIVIDUAL POETS, AS WELL AS IMPORTANT THEMES IN CONTEMPORARY POETRY. THE POETRY SOCIETY ALSO PARTNERS WITH HARLEM ACADEMY TO PRESENT THE VISITING POETS PROGRAM, WHICH BRINGS PROFESSIONAL POETS INTO THE CLASSROOM TO TEACH THE READING AND WRITING OF POETRY TO MIDDLE SCHOOL STUDENTS. THROUGH THESE PUBLIC PROGRAMS, THE POETRY SOCIETY SERVES HUNDREDS OF POETS AND TENS OF THOUSANDS OF READERS EACH YEAR. DUE TO THE COVID-19 PANDEMIC, MOST OF THE POETRY SOCIETY'S PUBLIC PROGRAMS SHIFTED TO DIGITAL IN 2022; NONETHELESS, THE POETRY SOCIETY WAS ABLE TO PRESENT MORE PROGRAMS AND SERVE MORE POETS AND READERS.
ANNUAL AWARDS:EACH YEAR, THE POETRY SOCIETY OFFERS 12 AWARDS TO HONOR AND SUPPORT POETS AT EVERY STAGE OF THEIR CAREERS, RANGING FROM AN AWARD FOR A STUDENT POET TO BEST FIRST BOOK TO LIFETIME ACHIEVEMENT IN POETRY. RECIPIENTS OF THE POETRY SOCIETY'S MOST DISTINGUISHED AWARD, THE FROST MEDAL, HAVE INCLUDED GWENDOLYN BROOKS, WALLACE STEVENS, MARIANNE MOORE, JOHN ASHBERY, AND LUCILLE CLIFTON. IN 2022, THE FROST MEDAL WAS AWARDED TO SHARON OLDS. RECIPIENTS OF THE FOUR QUARTETS PRIZE FOR BEST POETRY SEQUENCE HAVE INCLUDED DANTE MICHEAUX, DANEZ SMITH, AND JOHN MURILLO. EACH YEAR, THE POETRY SOCIETY ALSO AWARDS TWO CHAPBOOK FELLOWSHIPS, WHICH INCLUDE A PRIZE OF $1,000 AND THE PUBLICATION OF THEIR FIRST CHAPBOOK, ALONG WITH MENTORSHIP BY AN ESTABLISHED POET IN THE EDITORIAL AND PUBLICATION PROCESS.
POETRY AND PUBLIC SPACESINCE 1992, THE POETRY SOCIETY HAS PRESENTED POETRY IN MOTION, WHICH PLACES POEMS IN TRANSIT SYSTEMS AROUND THE COUNTRY, CREATING UNEXPECTED AND MEANINGFUL ENCOUNTERS IN PUBLIC SPACES BETWEEN POEMS AND MILLIONS OF READERS. IN 2021, THE PROGRAM EXPANDED TO INCLUDE THE WASHINGTON DC AREA METRO SYSTEM AND PATH/PORT AUTHORITY STATIONS IN NEW JERSEY AND NEW YORK. THE PROGRAM SERVES APPROXIMATELY 9 MILLION PEOPLE EACH YEAR. POETRY IN MOTION IS NOW THE CORNERSTONE OF A LARGER ARRAY OF PROGRAMS IN PUBLIC SPACE, INCLUDING PARTNERSHIPS WITH CIVIC ORGANIZATIONS TO PRESENT POETRY BASED PUBLIC ART PROJECTS. IN 2022, THE POETRY SOCIETY PARTNERED WITH THE DOWNTOWN BROOKLYN PARTNERSHIP TO PRESET SEEING INTO TOMORROW, WHICH TRANSFORMED POEMS BY RICHARD WRIGHT INTO LARGE-SCALE INSTALLATIONS ON WALLS IN SEVERAL BROOKLYN NEIGHBORHOODS. THIS PROGRAM AREA ALSO INCLUDES POEMS ON WHEELS, A PARTNERSHIP WITH MEALS ON WHEELS CHAPTERS AROUND THE COUNTRY TO PROVIDE POEMS ALONG WITH NOURISHING MEALS TO HOMEBOUND SENIORS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Allison Binns President | OfficerTrustee | 1 | $0 |
Karen Karpowich Secretary | OfficerTrustee | 1 | $0 |
Ellen Rachlin Treasurer | OfficerTrustee | 1 | $0 |
Abigail Wender First Vice President | OfficerTrustee | 1 | $0 |
Billy Collins Vice President | OfficerTrustee | 1 | $0 |
Cornelius Eady Vice President | OfficerTrustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $22,168 |
Related organizations | $0 |
Government grants | $73,100 |
All other contributions, gifts, grants, and similar amounts not included above | $768,252 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $863,520 |
Total Program Service Revenue | $36,093 |
Investment income | $281,537 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$549 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $6,539 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,187,140 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $58,100 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $123,225 |
Compensation of current officers, directors, key employees. | $18,552 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $187,531 |
Pension plan accruals and contributions | $3,244 |
Other employee benefits | $28,933 |
Payroll taxes | $23,676 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $42,732 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $65,755 |
Fees for services: Other | $19,530 |
Advertising and promotion | $0 |
Office expenses | $42,869 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $42,696 |
Travel | $481 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $988 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $6,373 |
Insurance | $7,766 |
All other expenses | $0 |
Total functional expenses | $722,108 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $210,121 |
Savings and temporary cash investments | $563,315 |
Pledges and grants receivable | $349,762 |
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 | $38,724 |
Net Land, buildings, and equipment | $23,906 |
Investments—publicly traded securities | $2,461 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $3,786,810 |
Total assets | $4,975,099 |
Accounts payable and accrued expenses | $38,431 |
Grants payable | $0 |
Deferred revenue | $0 |
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 | $38,431 |
Net assets without donor restrictions | $810,489 |
Net assets with donor restrictions | $4,126,179 |
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 | $4,975,099 |