Academy Of American Poets Incorporated
- Assets
- $17.0m
- Revenue
- $4.0m
- Investments
- $737.8k
- Employees
- 20
- Location
- New York, NY
- Founding
- 02/1936
- Data as of
- 06/2021
- EIN
- 13-1879953
Organization Overview
Academy Of American Poets Incorporated is located in New York, NY. The organization was established in 1936. According to its NTEE Classification (A70) the organization is classified as: Humanities, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Academy Of American Poets Incorporated employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Academy Of American Poets Incorporated 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 06/2021, Academy Of American Poets Incorporated generated $4.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.5% each year . All expenses for the organization totaled $5.1m during the year ending 06/2021. While expenses have increased by 18.2% per year over the past 6 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 2020, Academy Of American Poets Incorporated has awarded 132 individual grants totaling $1,841,580. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ACADEMY SUPPORTS POETS THROUGH FELLOWSHIPS AND PRIZES AND PROMOTES POETRY.
Describe the Organization's Program Activity:
AWARDS AND GRANTSSEE SCHEDULE OAWARDS AND GRANTS-THE ACADEMY ADMINISTERED AND AWARDED MORE THAN $1.5M IN POETRY AWARDS AND PRIZES INCLUDING: POETS LAUREATE FELLOWSHIPS, THE WALLACE STEVENS AWARD, THE ACADEMY FELLOWSHIP, THE LENORE MARSHALL PRIZE, THE JAMES LAUGHLIN AWARD, THE WALT WHITMAN AWARD, THE RAIZISS/ DE PALCHI TRANSLATION AWARD (ITALIAN TRANSLATION AWARD), THE HAROLD MORTON LANDON TRANSLATION AWARD, THE AMERICAN POETS EMERGENCY FUND, TREEHOUSE CLIMATE ACTION POETRY PRIZE, AS WELL AS STUDENT PRIZES AT HUNDREDS OF COLLEGES AND UNIVERSITIES NATIONWIDE.THE LITERARY ARTS EMERGENCY FUND (LAEF), LAUNCHED AND ADMINISTERED BY THE ACADEMY OF AMERICAN POETS, THE COMMUNITY OF LITERARY MAGAZINE & PRESSES (CLMP), AND THE NATIONAL BOOK FOUNDATION IN 2020 DISTRIBUTED AND RE-GRANTED $1,000,000 IN FUNDING TO 24 NONPROFIT LITERARY ARTS ORGANIZATIONS AND PUBLISHERS ACROSS THE U.S. THAT EXPERIENCED CONTINUED FINANCIAL LOSSES DUE TO COVID-19. THE LITERARY ARTS EMERGENCY FUND WAS MADE POSSIBLE BY A GRANT FROM THE MELLON FOUNDATION.
WEBSITE - LAUNCHED IN 1996, POETS.ORG IS THE AWARD-WINNING WEBSITE OF THE ACADEMY OF AMERICAN POETS. VISITORS TO POETS.ORG WILL FIND THOUSANDS OF POEMS AS WELL AS HUNDREDS OF POETS BIOGRAPHIES, ESSAYS, INTERVIEWS, AND POETRY RECORDINGS WITH THE CONSTANT ADDITION OF NEW MATERIALS. IN ADDITION, RESOURCES SUCH AS A NATIONAL EVENTS CALENDAR, AND DEVELOPMENT OF POETRY LESSON PLANS FOR TEACHERS ARE AVAILABLE. POETS.ORG RECEIVES MORE THAN FIVE MILLION VISITS EACH MONTH, MAKING IT ONE OF THE MOST POPULAR POETRY SITES ON THE WEB.
THE AMERICAN POETS MAGAZINE - LAUNCHED IN 1996 AND PUBLISHED TWICE ANNUALLY IN APRIL AND OCTOBER, EXCLUSIVELY FOR THE MEMBERS OF THE ACADEMY OF AMERICAN POETS. THIS MAGAZINE REACHES DEVOTED READERS AND WRITERS OF POETRY AND LITERATURE, STUDENTS OF POETRY, SOME OF THE MOST RENOWNED AND RESPECTED POETS OF OUR TIME AND SOME OF THE NATION'S MOST GENEROUS PATRONS OF POETRY.
POETRY FORUM, POETRY COALTION, EDUCATION, NATIONAL POETRY MONTH, READING SERIES, PROGRAM MEMBERSHIP AND CHANCELLORS FUND
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Benka President/executive Direct | OfficerTrustee | 35 | $165,508 |
Ian Kennedy Vice Chairman & Treasurer | OfficerTrustee | 5 | $0 |
Michael Jacobs Chairman | OfficerTrustee | 5 | $0 |
Helen Houghton Secretary | OfficerTrustee | 1 | $0 |
Larry Berger Director | Trustee | 1 | $0 |
Patricia Grodd Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $601,916 |
| Fundraising events | $213,543 |
| Related organizations | $0 |
| Government grants | $158,687 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,216,450 |
| Noncash contributions included in lines 1a–1f | $18,380 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,190,596 |
| Total Program Service Revenue | $174,387 |
| Investment income | $176,459 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $44,105 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $447,030 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $6,528 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,039,105 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,400,606 |
| Grants and other assistance to domestic individuals. | $1,406,740 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $204,595 |
| Compensation of current officers, directors, key employees. | $49,536 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $716,544 |
| Pension plan accruals and contributions | $12,400 |
| Other employee benefits | $96,925 |
| Payroll taxes | $66,057 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $88,683 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $241,237 |
| Advertising and promotion | $160,004 |
| Office expenses | $261,006 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $225,154 |
| Travel | $6,136 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,131 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,843 |
| Insurance | $0 |
| All other expenses | $3,636 |
| Total functional expenses | $5,051,580 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $237,807 |
| Savings and temporary cash investments | $381,114 |
| Pledges and grants receivable | $535,880 |
| Accounts receivable, net | $94,026 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $838 |
| Prepaid expenses and deferred charges | $13,393 |
| Net Land, buildings, and equipment | $82,261 |
| Investments—publicly traded securities | $14,844,587 |
| Investments—other securities | $737,795 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $52,618 |
| Total assets | $16,980,319 |
| Accounts payable and accrued expenses | $324,452 |
| Grants payable | $1,100,000 |
| 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 | $121,262 |
| Total liabilities | $1,545,714 |
| Net assets without donor restrictions | $4,576,594 |
| Net assets with donor restrictions | $10,858,011 |
| 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 | $16,980,319 |
Grants Awarded
Over the last fiscal year, Academy Of American Poets Incorporated has awarded $1,227,480 in support to 86 organizations.
| Grant Recipient | Amount |
|---|---|
Minneapolis, MN PURPOSE: MELLON LITERARY ART EMERGENCY FUND (LAEF) | $50,000 |
New York, NY PURPOSE: MELLON LITERARY ART EMERGENCY FUND (LAEF) | $50,000 |
Port Townsend, WA PURPOSE: MELLON LITERARY ART EMERGENCY FUND (LAEF) | $50,000 |
San Francisco, CA PURPOSE: MELLON LITERARY ART EMERGENCY FUND (LAEF) | $50,000 |
New York, NY PURPOSE: MELLON LITERARY ART EMERGENCY FUND (LAEF) | $50,000 |
Brooklyn, NY PURPOSE: MELLON LITERARY ART EMERGENCY FUND (LAEF) | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Academy Of American Poets Incorporated has recieved totaling $1,239,650.
| Awarding Organization | Amount |
|---|---|
Andrew W Mellon Foundation New York, NY PURPOSE: TO SUPPORT THE LITERARY ARTS EMERGENCY FUND | $1,178,500 |
American Endowment Foundation Hudson, OH PURPOSE: ARTS, CULTURE | $30,500 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $9,850 |
Nelson Talbott Foundation Washington, DC PURPOSE: GENERAL NEEDS OR PURPOSE | $5,000 |
Kean Foundation Inc Parsippany, NJ PURPOSE: UNRESTRICTED | $5,000 |
Campbell Family Foundation Edison, NJ PURPOSE: GENERAL & UNRESTRICTED | $5,000 |
Endowment Analysis
| Beg. Balance | $7,902,055 |
| Ending Balance | $7,902,055 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Modern Language Association Of America New York, NY | $26,742,104 | $16,207,433 |
American Philosophical Society Philadelphia, PA | $294,142,753 | $31,170,811 |
Pen American Center Inc New York, NY | $36,781,487 | $29,059,092 |
Commercial Real Estate Finance Council Inc New York, NY | $15,641,619 | $8,091,268 |
Archaeological Institute Of America Boston, MA | $15,760,718 | $9,516,750 |
Academy Of American Poets Incorporated New York, NY | $16,980,319 | $4,039,105 |
Grub Street Inc Boston, MA | $11,789,751 | $6,194,111 |
Center For Inquiry Inc Amherst, NY | $8,104,198 | $5,991,557 |
National Book Foundation Inc New York, NY | $4,696,616 | $3,836,375 |
Hawthornden Literary Retreat Pittsburgh, PA | $228,597,299 | $115,561,060 |
Connecticut Humanities Council Middletown, CT | $1,530,926 | $3,295,528 |
New York Council For The Humanities New York, NY | $2,496,894 | $3,586,085 |