Art Academy Of Cincinnati
- Assets
- $6.6m
- Revenue
- $9.5m
- Investments
- $0.0
- Employees
- 208
- Location
- Cincinnati, OH
- Founding
- 09/1998
- Data as of
- 05/2022
- EIN
- 31-1601569
Organization Overview
Art Academy Of Cincinnati is located in Cincinnati, OH. The organization was established in 1998. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2022, Art Academy Of Cincinnati employed 208 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Art Academy Of Cincinnati 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 05/2022, Art Academy Of Cincinnati generated $9.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $9.9m during the year ending 05/2022. While expenses have increased by 6.6% 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
ART ACADEMY OF CINCINNATI IS A FOUR-YEAR ACCREDITED ART ACADEMY COLLEGE, OFFERING BFAS AND ONE MA PROGRAM. OUR MISSION IS TO CREATE AND SUSTAIN RADICAL FORWARD-THINKING, CONTEMPORARY VISUAL ARTISTS, AND DESIGNERS WHOSE CREATIVE CONTRIBUTIONS MAKE A SUBSTANTIAL DIFFERENCE IN ALL THE LIVES THEY TOUCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE OPERATE AN ACCREDITED POST-SECONDARY FINE ARTS EDUCATION FACILITY (ART ACADEMY) OFFERING CURRICULUM LEADING TO A BACHELOR OF FINE ARTS DEGREE, AND A MASTERS IN ART EDUCATION. WE SERVE APPROXIMATELY 240 MATRICULATING STUDENTS. IN ADDITION, WE SERVE APPROXIMATELY 300 INDIVIDUALS IN OUR COMMUNITY ARTS EDUCATION PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Girandola President | OfficerTrustee | 35 | $220,400 |
L Paige Williams VP For Academic Affairs | Officer | 35 | $96,646 |
Christine Carli Chair And Alumni Council President | OfficerTrustee | 5 | $0 |
Debbie Kokoruda Secretary | OfficerTrustee | 5 | $0 |
Anthony Reiss Treasurer | OfficerTrustee | 5 | $0 |
Harvey Cohen Legal Counsel | OfficerTrustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Allied Universal Security Services Security Services | 5/30/20 | $156,082 |
Urban Sites Property Management Llc Property Management | 5/30/20 | $112,166 |
Encore Technologies It Services | 5/30/20 | $104,591 |
Urban Sites Property Management Llc Property Management | 5/30/20 | $112,166 |
Encore Technologies It Services | 5/30/20 | $104,591 |
Allied Universal Security Services Security Services | 5/30/20 | $156,082 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $651,783 |
| All other contributions, gifts, grants, and similar amounts not included above | $500,361 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,152,144 |
| Total Program Service Revenue | $8,085,700 |
| Investment income | $69,922 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $25,704 |
| Net Gain/Loss on Asset Sales | $115,247 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,495,180 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,860,975 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,045,596 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $277,377 |
| Payroll taxes | $210,949 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,065 |
| Fees for services: Accounting | $370,534 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $301,235 |
| Advertising and promotion | $115,205 |
| Office expenses | $0 |
| Information technology | $2,981 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $50,096 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $11,340 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $154,978 |
| Insurance | $41,276 |
| All other expenses | $506,239 |
| Total functional expenses | $9,906,292 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $461,754 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $75,000 |
| Accounts receivable, net | $193,390 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $49,980 |
| Prepaid expenses and deferred charges | $20,387 |
| Net Land, buildings, and equipment | $3,256,531 |
| Investments—publicly traded securities | $2,320,856 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $205,615 |
| Total assets | $6,583,513 |
| Accounts payable and accrued expenses | $309,213 |
| Grants payable | $0 |
| Deferred revenue | $59,320 |
| 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 | $234,060 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $103,277 |
| Total liabilities | $705,870 |
| Net assets without donor restrictions | $3,414,065 |
| Net assets with donor restrictions | $2,463,578 |
| 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 | $6,583,513 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Art Academy Of Cincinnati has recieved totaling $25.
| Awarding Organization | Amount |
|---|---|
Schulzinger-Frankel Family Foundation Cincinnati, OH PURPOSE: CHARITABLE - GENERAL SUPPORT | $25 |
Endowment Analysis
| Beg. Balance | $2,479,217 |
| Earnings | -$181,921 |
| Net Contributions | $2,645 |
| Other Expense | $126,000 |
| Ending Balance | $2,173,941 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Caney Creek Community Center Pippa Passes, KY | $136,427,755 | $30,649,937 |
Baker College Flint, MI | $33,908,610 | $19,974,450 |
Baker College Flint, MI | $26,174,553 | $16,788,668 |
University Of Valley Forge Of The Assemblies Of God Phoenixville, PA | $33,204,385 | $17,692,057 |
Calumet College Whiting, IN | $23,910,768 | $16,116,296 |
Wilberforce University Wilberforce, OH | $28,180,485 | $40,652,171 |
Grace Christian University Wyoming, MI | $13,530,874 | $15,083,160 |
Manor College Jenkintown, PA | $17,591,857 | $16,869,766 |
Art Academy Of Cincinnati Cincinnati, OH | $6,583,513 | $9,495,180 |
Pennsylvania Institue Of Technology Media, PA | $8,362,791 | $13,243,605 |
Pontifical College Josephinum Columbus, OH | $57,627,425 | $9,311,900 |
Appalachian Bible College Inc Mount Hope, WV | $12,108,956 | $7,758,516 |