The Poetry Foundation
- Assets
- $292.5m
- Revenue
- $10.3m
- Investments
- $250.4m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 11/1946
- Data as of
- 12/2022
- 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 12/2022, Poetry Foundation generated $10.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $19.3m during the year ending 12/2022. While expenses have increased by 9.0% 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.
Since 2014, Poetry Foundation has awarded 3,309 individual grants totaling $15,520,705. 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
2022
Describe the Organization's Program Activity:
THE POETRY FOUNDATION OFFERS AN ARRAY OF FREE PROGRAMS AND EVENTS TO AMPLIFY POETRY AND POETS AND EXPAND THE AUDIENCE FOR POETRY. IN-PERSON EVENTS AT THE POETRY FOUNDATION RESUMED IN APRIL 2022. EVENTS CONTINUED TO INCLUDE AN OPTION TO CONNECT VIRTUALLY AND WELCOMED 1,846 ATTENDEES (914 IN-PERSON AND 932 VIRTUAL) TO 41 EVENTS. THE LIBRARY HOSTED 12 BOOK CLUBS, 133 WRITING WORKSHOPS, AND 28 FIELD TRIPS. IT ALSO CO-LED THE SUMMER POETRY TEACHERS INSTITUTE, DURING WHICH 302 EDUCATORS EXPERIENCED TWO DAYS OF INVIGORATING PERFORMANCES, BREAKOUT SESSIONS, AND VIRTUAL PANELS LED BY 20 POETS; AND POETRY OUT LOUD, A NATIONAL POETRY RECITATION COMPETITION FOR HIGH SCHOOL STUDENTS. TO CELEBRATE POETRY MAGAZINE'S 110-YEAR ANNIVERSARY, THE FOUNDATION AWARDED $1,132,500 IN PRIZES TO POETS, THE LARGEST PRIZE THAT THE FOUNDATION HAS EVER AWARDED TO A COHORT OF LIVING POETS AT ONE TIME.
POETRYFOUNDATION.ORG: POETRYFOUNDATION.ORG IS THE LARGEST FREE ONLINE ARCHIVE OF POETRY, WITH 46,595 POEMS AS OF 2022. IT ALSO INCLUDES A FULL DIGITAL ARCHIVE OF POETRY MAGAZINE, AUTHOR BIOS, POEM GUIDES, CONTENT FOR EDUCATORS, AND MORE. EVERY WEEK, IT IS UPDATED WITH FEATURES ON NEW POETRY COLLECTIONS, BOOK REVIEWS, PODCASTS, AND BLOGS. THE WEBSITE AVERAGED MORE THAN 4.2 MILLION MONTHLY VISITORS THROUGHOUT 2022 . WEEKLY NEWSLETTERS WENT OUT TO 135,000 SUBSCRIBERS AND PODCASTS GARNERED MORE THAN 28 MILLION LISTENERS.
"POETRY" MAGAZINE: POETRY MAGAZINE CELEBRATED ITS 110-YEAR ANNIVERSARY IN 2022; IT REMAINS THE OLDEST MONTHLY DEVOTED TO VERSE IN THE ENGLISH-SPEAKING WORLD. IN 2022, POETRY SUPPORTED THE FOUNDATION'S "COMMITMENT TO THE COMMUNITY" BY WELCOMING SEVERAL POETS AS GUEST EDITORS, INCLUDING ESTHER BELIN, SUZI F.GARCIA, AND SRIKANTH REDDY, WHO EDITED EIGHT OF 11 ISSUES. POETRY RECEIVED MORE THAN 15,100 SUBMISSION PACKETS, PAID $344,588 TO CONTRIBUTORS, DONATED MORE THAN 3,500 ISSUES, AND SHARED POETRY WITH 27,568 SUBSCRIBERS AND 33,400 POETRY MAGAZINE APP USERS. THE MAGAZINE CONTINUES TO PRIORITIZE DISCOVERING AND PROVIDING A PLATFORM FOR EMERGING POETS, PUBLISHING 256 FIRST-TIME CONTRIBUTORS, WHICH IS 70% OF THE POETS PUBLISHED IN 2022.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Boone President | 40 | $390,522 | |
Caren Yanis Chair | 20 | $0 | |
Eugene Lowe Vice Chair | 2 | $0 | |
Ally Bulley Finance Committee Chair | 2 | $0 | |
Cecilia Conrad Trustee | 2 | $0 | |
Gwendolyn Perry Davis Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Flowers Communications Group Inc | 12/30/22 | $357,992 |
Txi Inc | 12/30/22 | $248,066 |
500 Films & Media Inc | 12/30/22 | $242,797 |
The Sheridan Press Inc | 12/30/22 | $744,443 |
Most Training & Consulting | 12/30/22 | $191,773 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $131,571 |
| Interest on Savings | $0 |
| Dividends & Interest | $6,862,195 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,458,065 |
| Capital Gain Net Income | $1,999,778 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $815,324 |
| Total Revenue | $10,267,155 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $680,974 |
| Other employee salaries and wages | $3,339,081 |
| Pension plans, employee benefits | $1,022,450 |
| Interest | $0 |
| Taxes | $163,064 |
| Depreciation | $564,062 |
| Occupancy | $64,288 |
| Travel, conferences, and meetings | $410,982 |
| Printing and publications | $1,157,658 |
| Other expenses | $4,021,432 |
| Total operating and administrative expenses | $14,675,731 |
| Contributions, gifts, grants paid | $4,588,710 |
| Total expenses and disbursements | $19,264,441 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,817,498 |
| Savings and temporary cash investments | $16,784,193 |
| Net Accounts receivable | $46,303 |
| 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 | $297,285 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $102,907,368 |
| Net Land, buildings, and equipment | $17,210,053 |
| Other assets | $3,988,476 |
| Total assets | $292,503,710 |
| Accounts payable and accrued expenses | $823,980 |
| Grants payable | $0 |
| Deferred revenue | $569,916 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,393,896 |
Grants Awarded
Over the last fiscal year, The Poetry Foundation has awarded $4,588,710 in support to 417 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF NEBRASKA PURPOSE: 3 YEAR GRANT - AFRICAN POETRY BOOK DISTRIBUTION PROJECT | $112,500 |
PATRICIA SMITH PURPOSE: RUTH LILLY PRIZE 2022 - SONIA SANCHEZ | $100,000 |
SHARON OLDS PURPOSE: RUTH LILLY PRIZE 2022 - SHARON OLDS | $100,000 |
RITA FRANCES DOVE PURPOSE: RUTH LILLY PRIZE 2022 - RITA DOVE | $100,000 |
JUAN FELIPE HERRERA PURPOSE: RUTH LILLY PRIZE 2022 - JUAN FELIPE HERRERA | $100,000 |
SANDRA CISNEROS PURPOSE: RUTH LILLY PRIZE 2022 - SANDRA CISCNEROS | $100,000 |