Art Academy Of Cincinnati
- Assets
- $11.6m
- Revenue
- $11.2m
- Investments
- $0.0
- Employees
- 241
- Location
- Cincinnati, OH
- Founding
- 09/1998
- Data as of
- 05/2023
- 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 05/2023, Art Academy Of Cincinnati employed 241 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 05/2023, Art Academy Of Cincinnati generated $11.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $10.8m during the year ending 05/2023. While expenses have increased by 6.9% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
FOUR-YEAR ACCREDITED ART ACADEMY COLLEGE, OFFERING BFAS AND ONE MA PROGRAM. 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 | 40 | $220,400 |
Christine Carli Chair | OfficerTrustee | 5 | $0 |
Emily Holtrop Vice Chair | OfficerTrustee | 5 | $0 |
Debbie Kokoruda Secretary | OfficerTrustee | 5 | $0 |
Mark Grote 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 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $18,630 |
| Related organizations | $0 |
| Government grants | $1,196,659 |
| All other contributions, gifts, grants, and similar amounts not included above | $504,333 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,719,622 |
| Total Program Service Revenue | $9,295,542 |
| Investment income | $59,373 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $45,073 |
| Net Gain/Loss on Asset Sales | $50,459 |
| Net Income from Fundraising Events | -$3,105 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,227,828 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,160,406 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $325,639 |
| Compensation of current officers, directors, key employees. | $325,639 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,297,717 |
| Pension plan accruals and contributions | $6,082 |
| Other employee benefits | $422,740 |
| Payroll taxes | $272,604 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,931 |
| Fees for services: Accounting | $261,757 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $274,622 |
| Advertising and promotion | $171,521 |
| Office expenses | $0 |
| Information technology | $9,103 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $101,841 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $51,826 |
| Interest | $28,561 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $162,101 |
| Insurance | $51,909 |
| All other expenses | $524,833 |
| Total functional expenses | $10,838,046 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $155,910 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,186,481 |
| Accounts receivable, net | $392,886 |
| 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 | $13,297 |
| Net Land, buildings, and equipment | $3,173,124 |
| Investments—publicly traded securities | $2,316,228 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,321,542 |
| Total assets | $11,609,448 |
| Accounts payable and accrued expenses | $286,058 |
| Grants payable | $0 |
| Deferred revenue | $58,463 |
| 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 | $222,304 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,743,917 |
| Total liabilities | $5,310,742 |
| Net assets without donor restrictions | $3,766,248 |
| Net assets with donor restrictions | $2,532,458 |
| 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 | $11,609,448 |