Academy Art Museum Inc
- Assets
- $11.6m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 18
- Location
- Easton, MD
- Founding
- 09/1960
- Data as of
- 08/2023
- EIN
- 52-6051766
Organization Overview
Academy Art Museum Inc is located in Easton, MD. The organization was established in 1960. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 08/2023, Academy Art Museum Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Academy Art Museum Inc 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 08/2023, Academy Art Museum Inc generated $1.9m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $1.9m during the year ending 08/2023. 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
SEE SCH O
Describe the Organization's Program Activity:
Part 3 - Line 4a
ART APPRECIATION AND EDUCATION PROGRAMS-THE ACADEMY PRESENTS EXHIBITS, CONCERTS, EDUCATION, AND OTHER SIMILAR PROGRAMS TO THE GENERAL PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Jesse Executive Director | Officer | 40 | $174,581 |
William Lecates Director Of Finance | Officer | 40 | $42,172 |
Nanny Trippe Chair | OfficerTrustee | 1 | $0 |
Donna Alpi Vice Chair | OfficerTrustee | 1 | $0 |
Marylou Armstrong Peters Member | Trustee | 1 | $0 |
Jeffrey Huvelle Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $75,579 |
| Fundraising events | $237,942 |
| Related organizations | $0 |
| Government grants | $430,175 |
| All other contributions, gifts, grants, and similar amounts not included above | $692,028 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,435,724 |
| Total Program Service Revenue | $211,712 |
| Investment income | $203,341 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,863 |
| Net Gain/Loss on Asset Sales | $60,149 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,918,789 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $237,600 |
| Compensation of current officers, directors, key employees. | $95,040 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $504,760 |
| Pension plan accruals and contributions | $18,860 |
| Other employee benefits | $39,520 |
| Payroll taxes | $55,362 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,055 |
| Fees for services: Accounting | $9,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $22,595 |
| Fees for services: Other | $288,187 |
| Advertising and promotion | $15,122 |
| Office expenses | $168,451 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $91,324 |
| Travel | $32,921 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $536 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $221,780 |
| Insurance | $31,335 |
| All other expenses | $0 |
| Total functional expenses | $1,948,617 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $493,299 |
| Savings and temporary cash investments | $3,081 |
| Pledges and grants receivable | $76,161 |
| Accounts receivable, net | $0 |
| 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 | $22,479 |
| Net Land, buildings, and equipment | $4,333,752 |
| Investments—publicly traded securities | $6,631,194 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $75,163 |
| Total assets | $11,635,129 |
| Accounts payable and accrued expenses | $43,263 |
| Grants payable | $0 |
| Deferred revenue | $102,769 |
| 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 | $7,214 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $108,352 |
| Total liabilities | $261,598 |
| Net assets without donor restrictions | $10,379,094 |
| Net assets with donor restrictions | $994,437 |
| 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 | $11,635,129 |