The Poetry Foundation
- Assets
- $341.0m
- Revenue
- $70.3m
- Investments
- $315.7m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 11/1946
- Data as of
- 12/2021
- EIN
- 36-2490808
Organization Overview
The Poetry Foundation is located in Chicago, IL. The organization was established in 1946. According to its NTEE Classification (A70) the organization is classified as: Humanities, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Poetry Foundation 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, Poetry Foundation generated $70.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 33.2% each year . All expenses for the organization totaled $13.5m during the year ending 12/2021. While expenses have increased by 4.9% 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.
Since 2014, Poetry Foundation has awarded 2,892 individual grants totaling $10,931,995. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
POETRY PUBLIC PROGRAMS, EDUCATION, PRIZES AND AWARDS: THE FOUNDATION OFFERS AN ARRAY OF PROGRAMS TO EXPAND THE AUDIENCE FOR POETRY. IN EARLY 2021 THE FOUNDATION'S BUILDING REMAINED CLOSED IN RESPONSE TO THE PANDEMIC FOR IN-PERSON ACTIVITIES. THE STAFF FOCUSED ON CREATING VIRTUAL PROGRAMMING FOR AUDIENCES IN CHICAGO AND BEYOND. IN THIS TIME WE PRESENTED 26 VIRTUAL EVENTS FOR YOUTH AND ADULTS, 147 ONLINE WORKSHOPS, AND A MULTI-DAY VIRTUAL TEACHERS INSTITUTE. POETRY OUT LOUD, A NATIONAL HIGH SCHOOL RECITATION COMPETITION, COMPLETED ITS 17TH YEAR. WE AWARDED ANNUAL PRIZES, INCLUDING THE LILLY POETRY PRIZE AND FIVE LILLY-ROSENBERG FELLOWSHIPS. ALL VIRTUAL PROGRAMS WERE FREE TO THE PUBLIC.
POETRYFOUNDATION.ORG EXPANDS POETRY'S AUDIENCE BEYOND THE PAGE BY OFFERING A WIDE RANGE OF CONTENT THAT ENGAGES WITH THE ART FORM, INCLUDING THE LARGEST, FREE ONLINE ARCHIVE OF POETRY. THE WEBSITE OFFERS ARTICLES, POETRY COLLECTIONS, PODCASTS, OVER 45,000 POEMS, AND A FULL DIGITAL ARCHIVE OF POETRY MAGAZINE FREE TO READ. NEW CONTENT IS ADDED TO THE WEBSITE WEEKLY, INCLUDING FEATURES ON NEW POETRY COLLECTIONS, BOOK REVIEWS, POETS BLOGGING ON A RANGE OF TOPICS, ARTICLES FOR EDUCATORS, AND POETRY FOR CHILDREN. IN 2021 OUR WEBSITE GREETED AN AVERAGE 4.5 MILLION MONTHLY WEB VISITORS. OUR NEWSLETTERS HAD OVER 120,000 SUBSCRIBERS.
"POETRY" MAGAZINE (EXPENSE IS NET OF $968,017 PROGRAM REVENUE) ESTABLISHED IN 1912. POETRY MAGAZINE CONTINUES TO PRESENT THE BEST NEW POETRY WRITTEN BY DISTINGUISHED POETS, AND ALSO WORKS TO DISCOVER AND PRESENT EMERGING, NEW WRITERS, WITH APPROXIMATELY 70% OF EACH ISSUE PUBLISHING A POET FOR THE FIRST TIME IN THE MAGAZINE. THE MAGAZINE ALSO FOCUSES ON CURRENT ISSUES RELATING TO POETRY IN THE CULTURE, AS WELL AS PRESENTING CRITICAL EXCHANGES, DEBATES, REVIEWS, AND SPECIAL FEATURES. IN 2021, WHEN THE MAGAZINE REVISED THE MANNER IN WHICH IT RECORDED SUBMISSIONS RECEIVED, THE MAGAZINE RECEIVED AND READ 16,528 POETRY SUBMISSIONS PACKETS (AVERAGE FOUR POEMS PER PACKET) AND 201 PROSE SUBMISSIONS, FROM WHICH IT PUBLISHED 474 POEMS AND 17 PROSE PIECES IN 11 ISSUES. CIRCULATION THIS YEAR EXCEEDED 30,000, WITH SUBSCRIBERS FROM 40 COUNTRIES. POETRY WAS RANKED NUMBER ONE IN THE 2021 PERPETUAL FOLLY LITERARY MAGAZINE RANKING FOR POETRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Boone President-5/3/21 To 12/31/31 | 40 | $250,000 | |
Ydalmi Noriega VP Of Programs & Engagement | 40 | $197,955 | |
Lindsay Garbutt Managing Editor | 40 | $146,273 | |
Fred Sasaki Art Director | 40 | $144,871 | |
Erin Watson Product Manager | 40 | $111,741 | |
Sarah Whitcher Media Director | 40 | $110,559 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Sheridan Press Inc | 12/30/21 | $649,526 |
Flowers Communications Group Inc | 12/30/21 | $282,452 |
Lord Cultural Resources | 12/30/21 | $260,900 |
Lawrence T Mangan | 12/30/21 | $226,568 |
Table Xi Partners Llc | 12/30/21 | $175,934 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $51,104 |
| Interest on Savings | $0 |
| Dividends & Interest | $7,477,480 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $61,837,230 |
| Capital Gain Net Income | $62,366,268 |
| Net ST Capital Gain | $418,040 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $968,017 |
| Total Revenue | $70,333,831 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $513,647 |
| Other employee salaries and wages | $2,383,740 |
| Pension plans, employee benefits | $728,853 |
| Interest | $168,920 |
| Taxes | $266 |
| Depreciation | $938,232 |
| Occupancy | $38,532 |
| Travel, conferences, and meetings | $46,507 |
| Printing and publications | $973,824 |
| Other expenses | $3,652,107 |
| Total operating and administrative expenses | $11,494,328 |
| Contributions, gifts, grants paid | $1,997,470 |
| Total expenses and disbursements | $13,491,798 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,435,581 |
| Savings and temporary cash investments | $1,400,536 |
| Net Accounts receivable | $93,693 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $167,420 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $140,723,312 |
| Net Land, buildings, and equipment | $17,639,782 |
| Other assets | $4,536,190 |
| Total assets | $341,014,923 |
| Accounts payable and accrued expenses | $721,505 |
| Grants payable | $0 |
| Deferred revenue | $582,124 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,303,629 |
Grants Awarded
Over the last fiscal year, The Poetry Foundation has awarded $1,997,470 in support to 280 organizations.
| Grant Recipient | Amount |
|---|---|
St Paul, MN PURPOSE: THE SLOWDOWN SPONSORSHIP | $112,500 |
St Paul, MN PURPOSE: THE SLOWDOWN SPONSORSHIP | $112,500 |
VERSE VIDEO EDUCATION INC PURPOSE: POETRY IN AMERICA 2022 | $100,000 |
UNIVERSITY OF NEBRASKA PURPOSE: AMERICAN LIFE IN POETRY | $40,235 |
UNIVERSITY OF NEBRASKA PURPOSE: AMERICAN LIFE IN POETRY | $40,235 |
Princeton, NJ PURPOSE: POETRY PROGRAMMING | $30,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that The Poetry Foundation has recieved totaling $14,800.
| Awarding Organization | Amount |
|---|---|
Graham And Carolyn Holloway Foundation Colleyville, TX PURPOSE: LITERARY SOCIETY | $10,000 |
Colonel Il James N Pritzker Charitable Distribution Fund Chicago, IL PURPOSE: GENERAL SUPPORT | $4,800 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Poetry Foundation Chicago, IL | $341,014,923 | $70,333,831 |
Loretto Literary & Benevolent Institution Nerinx, KY | $3,723,243 | $10,897,100 |
Illinois Humanities Council Incorporated Chicago, IL | $2,155,468 | $4,480,636 |
National Forensic League West Des Moines, IA | $5,499,014 | $3,952,491 |
Theosophical Society In America Wheaton, IL | $22,823,765 | $2,640,124 |
Latinos Progresando Chicago, IL | $6,508,796 | $5,179,126 |
American Writers Museum Chicago, IL | $5,150,018 | $2,061,086 |
Missouri Humanities Council St Charles, MO | $2,269,660 | $3,215,573 |
Missouri Automobile Dealers Association Jefferson City, MO | $2,471,878 | $1,969,248 |
Wisconsin Humanities Council Madison, WI | $372,757 | $2,007,119 |
The Clearing Ellison Bay, WI | $3,923,723 | $2,072,867 |
Wisconsin Academy Of Sciences Arts & Letters Madison, WI | $712,983 | $792,015 |