Albany Institute Of History And Art
- Assets
- $12.8m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 27
- Location
- Albany, NY
- Founding
- 01/1942
- Data as of
- 12/2021
- EIN
- 14-1343061
Organization Overview
Albany Institute Of History And Art is located in Albany, NY. The organization was established in 1942. According to its NTEE Classification (A51) the organization is classified as: Art Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Albany Institute Of History And Art employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albany Institute Of History And 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 12/2021, Albany Institute Of History And Art generated $2.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $1.9m during the year ending 12/2021. While expenses have increased by 0.5% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
REGIONAL MUSEUM FOR ALBANY AND THE UPPER HUDSON VALLEY REGION OF NEW YORK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INSTITUTE MAINTAINS A YEAR-ROUND MUSEUM EXHIBIT, PROVIDES EDUCATIONAL ART CLASSES, NEW YORK STATE CULTURAL INFORMATION AND ACTIVITIES TO ITS MEMBERS AND THE GENERAL PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tammis Groft Executive Director (to May 2022) | Officer | 40 | $93,200 |
William M Harris Vice Chair & Development Chair | OfficerTrustee | 2.5 | $0 |
Douglas L Cohn Collections Chair | OfficerTrustee | 2.5 | $0 |
Miriam Trementozzi Co-Chair Deai | OfficerTrustee | 2.5 | $0 |
Kim Fine Treasurer & Campaign Chair | OfficerTrustee | 2.5 | $0 |
Jean Lewis Maloy Secretary | OfficerTrustee | 2.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $325,830 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,199,081 |
| Noncash contributions included in lines 1a–1f | $277,086 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,524,911 |
| Total Program Service Revenue | $146,920 |
| Investment income | $33,606 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $108,278 |
| Net Income from Fundraising Events | $97,491 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $64,011 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,975,217 |
| 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. | $95,128 |
| Compensation of current officers, directors, key employees. | $7,935 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $631,971 |
| Pension plan accruals and contributions | $13,568 |
| Other employee benefits | $73,122 |
| Payroll taxes | $54,118 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $55,773 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,928 |
| Fees for services: Other | $83,443 |
| Advertising and promotion | $14,044 |
| Office expenses | $39,216 |
| Information technology | $8,010 |
| Royalties | $0 |
| Occupancy | $170,529 |
| Travel | $4,398 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,815 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $369,953 |
| Insurance | $72,529 |
| All other expenses | $0 |
| Total functional expenses | $1,879,034 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $632,877 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,042,846 |
| 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 | $36,208 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $7,312,384 |
| Investments—publicly traded securities | $3,769,433 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,793,748 |
| Accounts payable and accrued expenses | $203,923 |
| Grants payable | $0 |
| Deferred revenue | $10,000 |
| 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 | $920,153 |
| Other liabilities | $0 |
| Total liabilities | $1,134,076 |
| Net assets without donor restrictions | $7,020,718 |
| Net assets with donor restrictions | $4,638,954 |
| 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 | $12,793,748 |
Grants Recieved
Over the last fiscal year, we have identified 22 grants that Albany Institute Of History And Art has recieved totaling $253,178.
| Awarding Organization | Amount |
|---|---|
Carl E Touhey Foundation Albany, NY PURPOSE: TO IMPROVE THE CULTURAL EDUCATION OF THE COMMUNITY AND SUPPORT THE MISSION TO PROTECT, PRESERVE, INTERPRET AND PROMOTE HISTORY, ART AND CULTURE OF THE CAPITAL REGION | $50,000 |
The Community Foundation For The Greater Capital Region Inc Albany, NY PURPOSE: FOR MARKETING SUPPORT, VISUALLY IMPAIRED AUDIENCE ACCESSABILITY, THE LIBRARY, AND UNRESTRICTED USE. | $37,468 |
Candace King Weir Foundation Albany, NY PURPOSE: GENERAL CHARITABLE PURPOSES | $30,000 |
Candace King Weir Foundation Albany, NY PURPOSE: GENERAL CHARITABLE PURPOSES | $22,000 |
The Bender Family Foundation Albany, NY PURPOSE: YEAR TWO OF FUNDING: WEBSITE OVERHAUL AND SERVER EXPANSION | $20,000 |
Review Foundation Inc Albany, NY PURPOSE: CHARITABLE PURPOSE | $20,000 |
Endowment Analysis
| Beg. Balance | $1,986,604 |
| Earnings | $254,491 |
| Net Contributions | $749,915 |
| Other Expense | $79,103 |
| Ending Balance | $2,911,907 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Buffalo Fine Arts Academy Buffalo, NY | $293,134,468 | $30,844,940 |
New Museum Of Contemporary Art New York, NY | $107,362,095 | $41,908,538 |
Institute Of Contemporary Art Boston, MA | $121,321,339 | $26,427,567 |
Museum Of Arts And Design New York, NY | $100,702,289 | $12,680,439 |
Wadsworth Atheneum Museum Of Art Hartford, CT | $165,426,651 | $15,147,902 |
Neue Galerie New York New York, NY | $114,494,920 | $18,242 |
Worcester Art Museum Worcester, MA | $148,643,203 | $30,005,812 |
International Center Of Photography New York, NY | $72,245,409 | $16,287,723 |
Doris Duke Foundation For Islamic Art New York, NY | $38,632,422 | $9,089,054 |
Storm King Art Center New Windsor, NY | $80,583,864 | $14,230,209 |
Fellowship For The Performing Arts Inc New York, NY | $15,555,732 | $10,766,818 |
Ps1 Contemporary Art Center Inc Long Island City, NY | $7,393,924 | $9,638,266 |