Academy Of Vocal Arts
- Assets
- $44.4m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 82
- Location
- Philadelphia, PA
- Founding
- 05/1938
- Data as of
- 06/2022
- EIN
- 23-1352001
Organization Overview
Academy Of Vocal Arts is located in Philadelphia, PA. The organization was established in 1938. According to its NTEE Classification (A6E) the organization is classified as: Performing Arts Schools, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2023, Academy Of Vocal Arts employed 82 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Academy Of Vocal Arts 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, Academy Of Vocal Arts generated $5.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $4.2m during the year ending 06/2022. 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 DISCOVER & PREPARE PROMISING YOUNG SINGERS FOR SUCCESSFUL INTERNATIONAL CAREERS AS OPERA SOLOISTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADMISSION INTO AVA'S FOUR-YEAR PROGRAM IS DETERMINED BY HIGHLY COMPETITIVE ANNUAL AUDITIONS. THOSE WHO ARE ACCEPTED RECEIVE TUITION-FREE INTENSIVE TRAINING.(CONTINUED ON SCHEDULE O.)THE ACADEMY OF VOCAL ARTS RETURNED TO FULL OPERA PRODUCTIONS, RECITALS, AND EVENTS IN THE 2022-23 AVA OPERA THEATRE SEASON. AUDIENCES WERE WELCOMED TO THE HELEN CORNING WARDEN THEATRE FOR OCTOBER'S NEW ARTISTS RECITAL, WHERE SIX FIRST-YEAR RESIDENT ARTISTS WERE INTRODUCED. THE NEW RESIDENT ARTISTS HAIL FROM ACROSS THE COUNTRY, CHINA, TURKEY, AND UKRAINE. THE SEASON AGAIN INCLUDED THE GIARGIARI BEL CANTO COMPETITION AT THE KIMMEL CENTER. PAST WINNERS HAVE GONE ON TO WIN SOME OF THE MOST PRESTIGIOUS COMPETITIONS AND THIS YEAR WAS NO EXCEPTION. THE SEASON OFFICIALLY OPENED WITH NOVEMBER'S LA TRAVIATA. TWO RECITALS FOLLOWED IN THE INTERIM TIME BEFORE OUR NEXT FULLY STAGED OPERA: THE FALL RECITAL FEATURED EXCERPTS FROM JANACEK'S KATA KABANOVA, SMETANA'S THE BARTERED BRIDE, AND MARSCHNER'S DER VAMPYR AND THE WINTER RECITAL CONTINUED OUR EXPLORATION OF ART SONG WITH MELODIES DRAMATIQUES FEATURING THE ART SONGS OF FRENCH OPERA COMPOSERS BIZET, MASSENET, GOUNOD, AND OFFENBACH. AUDIENCES AND CRITICS WERE DELIGHTED BY GEATANO DONIZETTI'S COMIC OPERA DON PASQUALE, INCLUDING A HOMETOWN TWIST SET IN MID-1960S SOUTH PHILADELPHIA. THE AVA ORCHESTRA RETURNED IN MARCH FOR BOTH PERFORMANCES OF JUBILATE!, OUR POPULAR ANNUAL CONCERT OF SACRED MUSIC. THE SEASON CONCLUDED WITH MOZART'S DON GIOVANNI IN A RUN OF PERFORMANCES AT AVA, THE HAVERFORD SCHOOL, AND CENTRAL BUCKS SOUTH HIGH SCHOOL IN APRIL AND MAY. NEARLY 2,000 AUDIENCE MEMBERS SAW DON GIOVANNI.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
K James Mcdowell President & Artistic Director | Officer | 40 | $165,000 |
Christofer Macatsoris Music Director | 40 | $150,000 | |
Susan L Mock CFO To May 2023 | Officer | 40 | $140,114 |
Scott Guzielek VP And General Manager | Officer | 40 | $146,000 |
Helen Kim Dir, Institutional Adv To Feb 2023 | 40 | $113,333 | |
Bryan J Hymel Vp, Global/artistic Outreach | 40 | $112,800 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,753,453 |
| Investment income | $1,402,236 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $651,869 |
| Net Income from Fundraising Events | -$48,041 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,042,502 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $329,300 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $537,216 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,582,905 |
| Pension plan accruals and contributions | $62,802 |
| Other employee benefits | $156,280 |
| Payroll taxes | $156,568 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $57,915 |
| Fees for services: Other | $218,452 |
| Advertising and promotion | $119,972 |
| Office expenses | $33,678 |
| Information technology | $95,558 |
| Royalties | $117 |
| Occupancy | $65,374 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38,641 |
| Interest | $110,125 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $263,096 |
| Insurance | $58,172 |
| All other expenses | $0 |
| Total functional expenses | $4,208,115 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $344,843 |
| Savings and temporary cash investments | $198,786 |
| Pledges and grants receivable | $198,532 |
| Accounts receivable, net | $4,036 |
| 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 | $27,101 |
| Investments—publicly traded securities | $31,365,726 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,002,231 |
| Total assets | $44,375,102 |
| Accounts payable and accrued expenses | $22,123 |
| Grants payable | $0 |
| Deferred revenue | $53,756 |
| 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 | $2,739,471 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $41,853 |
| Total liabilities | $2,857,203 |
| Net assets without donor restrictions | $16,518,001 |
| Net assets with donor restrictions | $24,999,898 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $41,517,899 |