Pennsylvania Academy Of The Fine Arts
- Assets
- $133.6m
- Revenue
- $20.5m
- Investments
- $32.1m
- Employees
- 326
- Location
- Philadelphia, PA
- Founding
- 12/1928
- Data as of
- 06/2021
- EIN
- 23-1352256
Organization Overview
Pennsylvania Academy Of The Fine Arts is located in Philadelphia, PA. The organization was established in 1928. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 06/2021, Pennsylvania Academy Of The Fine Arts employed 326 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pennsylvania Academy Of The Fine Arts 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, Pennsylvania Academy Of The Fine Arts generated $20.5m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $20.5m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (0.7%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
AS THE FIRST ART MUSEUM AND SCHOOL IN THE US, PAFA CELEBRATES THE TRANSFORMATIVE POWER OF ART AND ART-MAKING.
Describe the Organization's Program Activity:
PAFA'S POST-SECONDARY FINE ARTS PROGRAM OFFERS PROGRAMS IN PAINTING, PRINT-MAKING, SCULPTING AND DRAWING. THE SCHOOL GRANTS A FOUR YEAR CERTIFICATE, A BACHELOR OF FINE ARTS DEGREE, AND A MASTER OF FINE ARTS DEGREE.
PAFA OPERATES A GALLERY THAT DISPLAYS GREAT WORKS OF AMERICAN ART. IT IS THE OLDEST SUCH GALLERY IN THE U.S. AND ITS PRINCIPAL BUILDING IS A HISTORICAL STRUCTURE. THE SCHOOL ALSO HOSTS SEVERAL SPECIAL EXHIBITIONS EACH YEAR.
PUBLIC EDUCATION TEAM SPONSORS FINE ART CLASSES FOR ALL AGES BOTH ON AND OFF-SITE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David R Brigham President - Until Nov 2020 | Officer | 40 | $390,332 |
Brooke D Anderson Director Of Museum - Until May 2021 | 40 | $196,539 | |
Clint Jukkala Dean Of School Of Fine Art | 40 | $174,135 | |
Maryanne Murphy Chief Financial Officer | Officer | 40 | $166,702 |
Lisa Kuhnle-Biagas Chief Marketing Officer | 40 | $156,173 | |
Edward Poletti Chief Development Officer | 40 | $125,031 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Allied Universal Security Services | 6/29/21 | $496,130 |
West Chester Mechanical Hvac | 6/29/21 | $262,882 |
C Erickson And Sons Inc Construction Services | 6/29/21 | $200,060 |
Ebw Consulting Llc Consulting | 6/29/21 | $148,750 |
Clean Tech Services Inc Custodial Services | 6/29/21 | $102,174 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $246,413 |
| Related organizations | $0 |
| Government grants | $3,166,633 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,130,487 |
| Noncash contributions included in lines 1a–1f | $594,340 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,543,533 |
| Total Program Service Revenue | $8,416,916 |
| Investment income | $1,478,289 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,834,318 |
| Net Income from Fundraising Events | -$7,708 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $204,639 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,470,730 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,024,753 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $412,645 |
| Compensation of current officers, directors, key employees. | $412,645 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,473,708 |
| Pension plan accruals and contributions | $170,971 |
| Other employee benefits | $790,892 |
| Payroll taxes | $475,191 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $47,397 |
| Fees for services: Accounting | $87,060 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $268,751 |
| Fees for services: Other | $800,868 |
| Advertising and promotion | $206,671 |
| Office expenses | $469,302 |
| Information technology | $49,634 |
| Royalties | $0 |
| Occupancy | $1,326,899 |
| Travel | $91,929 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,917 |
| Interest | $692,905 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,108,725 |
| Insurance | $378,824 |
| All other expenses | $336,848 |
| Total functional expenses | $20,510,213 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $861,806 |
| Savings and temporary cash investments | $1,628,767 |
| Pledges and grants receivable | $2,203,104 |
| Accounts receivable, net | $206,869 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $117,287 |
| Prepaid expenses and deferred charges | $449,124 |
| Net Land, buildings, and equipment | $50,741,142 |
| Investments—publicly traded securities | $43,716,110 |
| Investments—other securities | $32,068,661 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,617,717 |
| Total assets | $133,610,587 |
| Accounts payable and accrued expenses | $1,565,452 |
| Grants payable | $0 |
| Deferred revenue | $2,463,902 |
| Tax-exempt bond liabilities | $24,713,020 |
| 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 | $965,298 |
| Total liabilities | $29,707,672 |
| Net assets without donor restrictions | $56,956,595 |
| Net assets with donor restrictions | $46,946,320 |
| 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 | $133,610,587 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Pennsylvania Academy Of The Fine Arts has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Dale And Annette Schuh Family Foundation Inc Egg Harbor, WI PURPOSE: TO SUPPORT EDUCATIONAL INSTITUTIONS AND ORGANIZATIONS WHOSE AIMS ARE TO PROMOTE THE HUMANITIES INCLUDING THE VISUAL AND PERFORMING ARTS | $2,500 |
Dry Fam Charitable Foundation Tr Philadelphia, PA PURPOSE: EDUCATIONAL PURPOSES | $2,500 |
Endowment Analysis
| Beg. Balance | $37,096,363 |
| Earnings | $10,326,391 |
| Net Contributions | $378,400 |
| Other Expense | $1,666,334 |
| Ending Balance | $46,134,820 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
William J Brennan Jr Center For Justice Inc New York, NY | $161,401,732 | $45,056,482 |
University Of Maryland Orthopaedic Associates P A Baltimore, MD | $13,376,270 | $27,085,599 |
American Academy Of Dramatic Arts New York, NY | $82,489,294 | $25,967,106 |
International Masonry Training And Education Foundation Bowie, MD | $50,955,407 | $23,973,687 |
Pennsylvania Academy Of The Fine Arts Philadelphia, PA | $133,610,587 | $20,470,730 |
Merrick Academy Queens Public Charter School Springfield Gardens, NY | $3,505,135 | $11,792,569 |
Omega Institute For Holistic Studies Inc Rhinebeck, NY | $27,528,865 | $10,367,756 |
Yeshivat Aish Hatorah Clifton, NJ | $25,730,558 | $11,593,750 |
Accreditation Board For Engineering And Technology Inc Baltimore, MD | $25,462,231 | $12,376,690 |
Pennsylvania College Of Art And Design Lancaster, PA | $15,635,445 | $9,536,252 |
International Institute For Restorative Practices Bethlehem, PA | $9,904,972 | $8,760,911 |
Intercollegiate Studies Institute Inc Wilmington, DE | $20,524,423 | $7,078,238 |