The Armory Art Center Inc
- Assets
- $4.2m
- Revenue
- $2.7m
- Investments
- $637.8k
- Employees
- 22
- Location
- West Palm Beach, FL
- Founding
- 11/1987
- Data as of
- 06/2023
- EIN
- 59-2808612
Organization Overview
The Armory Art Center Inc is located in West Palm Beach, FL. The organization was established in 1987. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2023, Armory Art Center Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Armory Art Center 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 06/2023, Armory Art Center Inc generated $2.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $2.7m during the year ending 06/2023. While expenses have increased by 6.3% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ARMORY ART CENTER IS TO PROVIDE ART EDUCATION TO INSPIRE THE CREATION AND EXPERIENCE OF ART IN THE COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ART SCHOOL: OVER THE COURSE OF THE YEAR, MORE THAN 800 COURSES ARE OFFERED THROUGH SIX ACADEMIC TERMS AND EDUCATE MORE THAN 3,000 STUDENTS. ON AVERAGE, 70 UNIQUE COURSES AND WORKSHOPS EACH TERM, PROVIDE AN ART EDUCATION STRUCTURED VISUAL ARTS PROGRAMS IN CERAMICS, JEWELRY, METAL SMITHING, SCULPTURE (STONE AND METAL), PAINTING, DRAWING, PRINTMAKING, PHOTOGRAPHY, FIBERS AND RELATED ARTS. STUDIO ART CLASSES ARE THOUGHT BY ACCOMPLISHED DEGREED ARTISTS AND CLASSES ARE OFFERED FOR ADULTS AND CHILDREN AGES 5 TO 90, YEAR-ROUND WITH DAY, EVENING, AND SATURDAY CLASSES OFFERED FOR ADULTS AND YOUTHS. THE SCHOOL SERVES AN ETHNICALLY AND CULTURALLY DIVERSE COMMUNITY.
MASTER ARTIST WORKSHOPS: THE WORKSHOPS RUNFOR 5 DAYS AND ARE PRESENTED BY NATIONAL AND INTERNATIONAL RENOWNEDARTISTS. THE AVERAGE NUMBER OF STUDENTS ATTENDING EACH WORKSHOP IS 8.THE PROGRAMS INCLUDE FREE PUBLIC LECTURES AND STUDIO WORKSHOPS,PROVIDING AN OPPORTUNITY FOR LOCAL ARTISTS AND STUDENT ARTISTS TO MEETAND LEARN FROM INTERNATIONALLY RECOGNIZED ARTISTS.
YOUTH CLASSES AND THE YOUTH SUMMER CAMP: YOUTH CLASSES ARE HELD THROUGHOUT THE YEAR ALONG WITH OUR REGULAR ADULT PROGRAMMING. THE SUMMER CAMPIS 10 WEEKS LONG, DURING THE SUMMER AND SERVES KINDERGARTEN THROUGHHIGH SCHOOL. WE OFFER SCHOLARSHIPS TO THE SUMMER CAMP STUDENTS, BASEDON ECONOMIC NEED. THEY ARE AWARDED WITHOUT REGARD TO RACE, ETHNICITY ORDEMOGRAPHIC PROFILE. DURING THE YEAR CONTRIBUTIONS BY INDIVIDUALS AREDESIGNATED FOR YOUTH SCHOLARSHIPS, THESE FUNDS ARE MAINTAINED IN ASEPARATE BANK ACCOUNT AND RELEASED AS THE SCHOLARSHIPS ARE AWARDED. NOFUNDS ARE DISTRIBUTED TO THE RECIPIENTS, THE SCHOLARSHIPS ARE TUTIONFEE WAIVERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John T Suau Former CEO | Officer | 40 | $88,038 |
Tom Pearson Former CEO | Trustee | 40 | $52,630 |
Jill Brown CEO | Trustee | 0.5 | $0 |
Robert Wechsler Director | Trustee | 0.5 | $0 |
David Velesky Director | Trustee | 0.5 | $0 |
Nancy Lambreacht Vice Chair | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $683,389 |
| All other contributions, gifts, grants, and similar amounts not included above | $852,702 |
| Noncash contributions included in lines 1a–1f | $514,763 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,536,091 |
| Total Program Service Revenue | $1,008,586 |
| Investment income | $8,825 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $127,863 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,704,299 |
| 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. | $140,668 |
| Compensation of current officers, directors, key employees. | $140,668 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $443,724 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $119,534 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $184,751 |
| Advertising and promotion | $0 |
| Office expenses | $49,718 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $702,265 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,421 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $147,377 |
| Insurance | $38,618 |
| All other expenses | $228,378 |
| Total functional expenses | $2,716,468 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,574 |
| Savings and temporary cash investments | $535,744 |
| Pledges and grants receivable | $115,429 |
| 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 | $8,222 |
| Net Land, buildings, and equipment | $2,835,734 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $637,845 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,168,548 |
| Accounts payable and accrued expenses | $76,682 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $70,737 |
| Total liabilities | $147,419 |
| Net assets without donor restrictions | $2,859,673 |
| Net assets with donor restrictions | $1,161,456 |
| 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 | $4,168,548 |