Princeton Academy Of Art Inc
- Assets
- $101.5k
- Revenue
- $378.9k
- Investments
- $0.0
- Employees
- 6
- Location
- Princeton, NJ
- Founding
- 07/2017
- Data as of
- 12/2021
- EIN
- 82-2181365
Organization Overview
Princeton Academy Of Art Inc is located in Princeton, NJ. The organization was established in 2017. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Princeton Academy Of Art Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Princeton Academy Of Art 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 12/2021, Princeton Academy Of Art Inc generated $378.9k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 52.0% each year . All expenses for the organization totaled $342.9k during the year ending 12/2021. While expenses have increased by 55.0% per year over the past 5 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PRINCETON ACADEMY OF ART IS DEDICATED TO EDUCATING FINE ARTISTS IN THE CONTEMPORARY ACADEMIC REALISM THROUGH PROGRAMMING FOR ADULTS, TEENS AND . CHILDREN. THE ORGANIZATION SERVED 80 - 100 STUDENTS IN 2021.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED INTEGRATED RIGOROUS TECHNICAL TRAINING IN PAINTING, DRAWING AND SCULPTURE WITH CUTTING EDGE ARTISTIC CONCEPTS AND APPROACHES TO DEVELOP THE ABILITIES OF STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anna Neis President | OfficerTrustee | 40 | $41,675 |
Sheila Mahoney Vice President | Officer | 0.5 | $0 |
Wendell Breithaupt Jr Treasurer | Officer | 10 | $0 |
Eileen Kennedy-Moore Secretary | Officer | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $26,845 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,412 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $34,257 |
| Total Program Service Revenue | $348,424 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$3,818 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $378,865 |
| 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. | $41,675 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $62,795 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,806 |
| Payroll taxes | $12,276 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $533 |
| Fees for services: Accounting | $4,566 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,538 |
| Advertising and promotion | $3,731 |
| Office expenses | $1,742 |
| Information technology | $4,986 |
| Royalties | $0 |
| Occupancy | $150,225 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $741 |
| Interest | $1,509 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,020 |
| All other expenses | $28,732 |
| Total functional expenses | $342,875 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $101,480 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $101,480 |
| Accounts payable and accrued expenses | $143 |
| 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 | $0 |
| Total liabilities | $143 |
| Net assets without donor restrictions | $101,337 |
| Net assets with donor restrictions | $0 |
| 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 | $101,480 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Princeton Academy Of Art Inc has recieved totaling $5.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Manhattan School Of Music New York, NY | $110,734,113 | $63,876,459 |
Franklin Institute Philadelphia, PA | $191,202,786 | $32,040,912 |
Art Students League Of New York New York, NY | $112,886,191 | $14,274,262 |
Saul Steinberg Foundation New York, NY | $2,326,445 | $165,696 |
Studio In A School Association New York, NY | $26,491,871 | $6,228,421 |
Global Disciples Lancaster, PA | $4,481,434 | $6,431,035 |
Harlem School Of The Arts Inc New York, NY | $16,306,795 | $5,380,840 |
Dreamyard Project Inc Bronx, NY | $4,474,380 | $5,509,637 |
Grounds For Sculpture Inc Hamilton, NJ | $36,793,406 | $11,597,062 |
Powerhouse Arts Inc Brooklyn, NY | $187,718,007 | $2,438,930 |
American Academy Of Arts And Letters New York, NY | $101,076,393 | $10,417,737 |
The Arts Connection Inc New York, NY | $2,703,336 | $4,972,330 |