Academy Art Museum Inc
- Assets
- $12.7m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 17
- Location
- Easton, MD
- Founding
- 09/1960
- Data as of
- 08/2021
- 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 08/2021, Academy Art Museum Inc employed 17 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 08/2021, Academy Art Museum Inc generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (9.4%) each year. All expenses for the organization totaled $1.5m during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ACADEMY ART MUSEUM IS TO PROMOTE THE KNOWLEDGE, PRACTICE, AND APPRECIATION OF THE ARTS AND TO ENHANCE CULTURAL LIFE ON THE EASTERN SHORE BY MAKING AVAILABLE TO EVERYONE THE MUSEUM'S EXPANDING COLLECTION, EXHIBITIONS, AND BROAD SPECTRUM OF ARTS PROGRAMS.
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.
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 |
|---|---|---|---|
Ben Simons Executive Dir. | Officer | 40 | $159,475 |
Donna Alpi Vice Chair | OfficerTrustee | 6 | $0 |
Catherine Collins Mccoy Chairman | OfficerTrustee | 6 | $0 |
John Pinney Treasurer | OfficerTrustee | 6 | $0 |
Craig Fuller Vice Chair | OfficerTrustee | 6 | $0 |
Jeffrey Huvelle Secretary | OfficerTrustee | 6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $67,774 |
| Fundraising events | $257,650 |
| Related organizations | $0 |
| Government grants | $318,519 |
| All other contributions, gifts, grants, and similar amounts not included above | $457,641 |
| Noncash contributions included in lines 1a–1f | $99,068 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,101,584 |
| Total Program Service Revenue | $140,147 |
| Investment income | $95,588 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,000 |
| Net Gain/Loss on Asset Sales | $71,693 |
| Net Income from Fundraising Events | -$91,160 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,323,852 |
| 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. | $98,634 |
| Compensation of current officers, directors, key employees. | $94,388 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $470,321 |
| Pension plan accruals and contributions | $14,778 |
| Other employee benefits | $33,804 |
| Payroll taxes | $46,539 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $800 |
| Fees for services: Accounting | $15,483 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $210,699 |
| Advertising and promotion | $22,947 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $125,383 |
| Travel | $4,941 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $217,843 |
| Insurance | $31,838 |
| All other expenses | $74,225 |
| Total functional expenses | $1,481,864 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $497,336 |
| Savings and temporary cash investments | $2,940 |
| Pledges and grants receivable | $318,618 |
| 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 | $16,807 |
| Net Land, buildings, and equipment | $4,258,453 |
| Investments—publicly traded securities | $7,584,028 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $370 |
| Total assets | $12,678,552 |
| Accounts payable and accrued expenses | $24,491 |
| Grants payable | $0 |
| Deferred revenue | $65,583 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,501 |
| Total liabilities | $105,575 |
| Net assets without donor restrictions | $11,380,249 |
| Net assets with donor restrictions | $1,192,728 |
| 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 | $12,678,552 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Academy Art Museum Inc has recieved totaling $1,500.
| Awarding Organization | Amount |
|---|---|
Richard J And Ellen G Bodorffcharitable Foundation Inc Easton, MD PURPOSE: GENERAL OPERATING GRANT | $1,500 |
Endowment Analysis
| Beg. Balance | $6,337,935 |
| Earnings | $1,170,952 |
| Admin Expense | $26,234 |
| Ending Balance | $7,482,653 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Artsquest Bethlehem, PA | $46,615,180 | $27,430,533 |
Lincoln Park Performing Arts Center Midland, PA | $37,610,958 | $11,880,429 |
Clay Center For The Arts & Sciences Of West Virginia Inc Charleston, WV | $104,991,627 | $9,740,232 |
Coalition To Salute Americas Heroes Foundation Leesburg, VA | $3,573,595 | $8,478,376 |
African American Cultural Center Pittsburgh, PA | $15,275,830 | $8,128,417 |
Baltimore Office Of Promotion And The Arts Baltimore, MD | $2,768,148 | $4,464,806 |
Boris Lurie Art Foundation Wilmington, DE | $0 | $786,286 |
One Common Unity Inc Washington, DC | $667,542 | $2,484,423 |
Sitar Arts Center Washington, DC | $12,189,332 | $3,951,154 |
Multicultural Community Family Services Inc Upper Darby, PA | $617,484 | $2,120,656 |
Rivers Of Steel Heritage Corporation Homestead, PA | $6,978,664 | $2,016,584 |
National Council For The Traditional Arts Silver Spring, MD | $1,116,811 | $2,051,101 |